Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
*$60/boe for condensate I meant to ask..
Thanks Jasper, I'm also hopeful they will be able to improve upon the 0.3 daily flow pre-refrac. One quick question on the on the daily revenue calculation. Did you receive the $60/day rate from Oilex directly? I believe it is now closer to $100/d but of course depend on the commercial agreement in place.. No major impact but thought I'd ask.
Yep, sounds good J. Let’s now cross fingers refrac results will be promising, and timelines stay on track - then hopefully earlyish q4 we will have revised flow rates at well head. atb
They did S
https://www.share-talk.com/oilex-ltd-management-team-asxaimoex-qa-update-shareholders-questions/
In 28/01 rns they say they expect 3-5x increase vs initial production levels of 1mmscfd, which would equal 3-5 mmscfd. This has since got reduced to 2 mmscfd i assume due to scaled down re-frac scope? So yes, it seems actuals are being adjusted down as we get more into the action. Here's for hoping fpr the re-frac and new wells trend is reversed and results will be on the higher end of the estimates/targets.
Thanks G, so yes In that case approx double of figures I quoted then you’re saying. Obviously target only that is.
So condensate/gas should bring in approx $120k/month roughly then?
Assuming 3x'ish from refrac, we should get to $350k/month or so. Hopefully it will be closer to the x5 right enough. Obviously somewhat offset by premium price for one-off frac equipment. That what we saying, just trying to steer focus on relevant facts, rather than discussing the past.. atb
*Sp
I am keen to understand better why Strand persisted on having a comment relating to a future possible placing added into the RNS. For what reason?
Keras was called out as a company that last week did a placing at premium. What’s noteworthy however is:
- ceo has a put a lot of financial skin in the game - oex mgt none so far really
- so has retracted since placing
Thought I’d highlight this, mind you every company is of course unique
Yes, Mr I from reading the wording in the quarterly report, my feeling wasn’t that it would “imminent “, so looks we might be some time away still before we have more news. I guess that makes sense seeing the RNS came out 14/04, so approximately one month from them it said.. furthermore I suppose it’s likely any positive news prior will get sold into, seeing we all know a placing is lurking.. hey ho..
I agree Gordon, show must go on as frankie said. I suppose, being in a healthy profit still makes it easier to still be cheery about it all. I do however feel sorry for whoever “got carried away” by all the hype, and find themselves in negative territory. Might poor myself a wee scotch tonight and have a laugh about it all..
Yeah, it’s been quite a show, when adding up what’s been said on the various platforms. I can’t be bothered to join much anymore, shame really it’s reached this stage. Anyhow, everyone to their own. Atb
So nothing we didn’t really already know in the q&a. Only part I picked up was the plan to do CCS without any central funding support. If so, this might require substantial bid investment from OEX, and for an extended period with no guarantee it will go ahead. Let’s see how tomorrow will proceed, if selling will continue in anticipation of potential 0placing. Atb
Ssss, suggest you read my earlier post on CCS. Track 2, is slotted for operational commencement 2030, based upon latest government publication. Now, if going 100% commercial would allow them to move ahead of this centrally driven roadmap I don’t know. Atb
If for the sake of the exercise took 0.19p (current mid price) as wwap, then 75% of that would equal .1425p if I interpret it correctly.
The prescribed minimum issue price is 75% of the volume weighted average price (“VWAP”)
53 for securities in the
relevant quoted class, calculated over the 15 trading days on which trades in that class were recorded54 immediately
before:
the date on which the price at which the securities are to be issued was agreed by the entity and the recipient
of the securities; or
? if the securities are not issued within 10 trading days of that date, the date on which the securities were
issued.
55
For convenience, whichever of these two dates is applicable is referred to as the “pricing date” and the 15 trading
days on which trades in the relevant class of equity securities were recorded immediately prior to the pricing date
are referred to as the “pricing period”.
Setting the pricing period as the 15 trading days on which trades actually occur immediately prior to the pricing
date, rather than a shorter period, is intended to minimise the risk that securities might be issued at an artificially
low price when there has been a temporary drop in the market price of the entity’s securities.
Setting the initial pricing date as the date on which the entity and the potential investor agree the price for the issue
and calculating the minimum price by reference to VWAP over the 15 trading days on which trades actually occur
immediately prior to that date allows the parties to calculate the minimum price required under Listing Rule 7.1A
with certainty at that date and ensure that this requirement has been satisfied. This is subject to the proviso that
the securities must be issued within 10 trading days of that date to ensure that the pricing is still reasonably current.
If the securities are not able to be issued within that 10 trading day period, then the pricing date defaults to the date
on which the securities are issued.
I hear you gordon.
Equally interesting I guess that Novum exercised their 54m options at 0.28 on 22/03.
When it was announced on 13/12, I believe it was trading around 0.265 only to go into free fall based upon the late afternoon RNS.
I guess they gave away a clue to all of us based upon the GM 17/01, by pushing through shareholder approval for the below. Whether the placing will again be at 0.14 I guess we will find out soon enough.
Listing rule 7.1A permits listed entities that:
? meet the threshold eligibility criteria, and
? have obtained the approval of their ordinary security holders
by special resolution at the annual general meeting (AGM),
to issue an additional 10% of issued capital by way of placements
over a 12 month period.