Member Info for EyeGuy

just looking at presentation.
Drill 2 side tracks targeting 650 bopd and completing earn-in to 75% working interest in the PSC
Side tracks here offer company making upside. Its going to go from almost no production to $3 million or so revenues per month over next year or so. Fantastic upside

thanks for the crossboard ramps Deanosbooty. BMN also have a market cap 100x this.

That’s right. That’s £180k of notes knocked off the total so £1 million left ish

Babbler - I’m not saying it’s going down pal. But that’s why it hasn’t gone up.
At this SP there will have to be another 100 million or so shares because the discount of 25% means they are getting the shares at 1p ish. And the notes expire in 10 weeks. Of course less dilution at a higher sp but further loan note conversions are coming. But company point of view they are doing fine.

I make it £1 mill of loan note conversions hitting over next 10 weeks.
Read the RNS and make your own conclusion. The £1.2 million debt has to be converted to shares before end Dec. They have circa £1 mill left.
At this sp that’s another 100 million shares or so as they are discounted 25%.
That’s why I’m out. But the company seems good so I’ll go back in my hole and time my re entry.
Dyor of course and read the rns from before. Dyor

Good news and before I’m called a dermamper- I’m amazed no one has noticed actually what is going on with the trades here.

Lol. I’m out of the other (copper stock) because they have circa £1 million of loan notes to convert at a 25% discount in the next 10 weeks but will be back in when they have finished. Lots have missed that.

I think the 250bopd is pretty much nailed on excluding execution risk.
The field is already producing. But maybe the marker needs to see numbers.
Paul seems pretty confident. The 600 bcf is the biggie

Babbler- I think each well is circa 20BOPD. There are 8 to be drilled in quick succession.
2 sidetracks I’m guessing circa 50BOPD equivalent to give the circa 250 bopd.
Break even from memory 70 bopd at corporate level. Lots of profit coming.
Don’t see much risk here.

Thanks for sharing o and w.
Looks like 2019 could be a good year. Funding news is needed now

I held here a few years ago and had high hopes for this.
How times have changed. No idea why the share swap deal was done and now to pay it off they have to raise cash at fractions of what it was last year. On top of that they still don’t have much cash left.
They can’t raise again below nominal value to it looks like either curtains or a restructure imo

Good post Damocles. I too held solg at 2p ish and marl at just over 1p.
I remember Eric Eric on solg bb constantly call solg as a zero and on marl many wished Glenn parsons would resign.
Fast forward a few years and both those guys are hero’s. As you say- it’s what’s in the ground that counts.
If folks don’t like the risk of exploration then don’t buy aim tiddlers like this. It’s rather simple

Agree pawn sacrifice. The good thing here is the rate of increase in expected production.
15 to 250bopd, and then side tracks to towards the 900 bopd Mark.
Also with Schlumberger next door if they hit anything and report if it’s going to derisk the 600 million dollar Npv West Rustavi field.

Well cerp is producing circa 750 bopd but costly workovers there so little free cash flow.
Corporate break even here from memory is 70bopd so it’s cheap to produce.
Also not forgetting :
Funded to recomplete 10 wells and side track 3 wells, increasing existing
oil production from 15bopd to a target of 900bopd.
900 bopd should easily be a 50 mill mcap here.
600 bag of proven has box of $600 million.
Imo this is only going one way
Dyor

decent podcast. lots of upside and little risk as the field is producing anyway. exciting times- bar this ridiculous share price of course

im back to break even now

34% up. no rns yet

Agree. More than happy to keep buying. Margins are great at this oil price and 250bopd just the start.
Newsflow rich period. like it

I make it $530k per month revenues hitting over next 5 months.
Lots of rising to do. Then the biggie of a 600bcf play too. Nice

Wakey wakey. Rns after hours. 250bopd not 150bopd.
Good rise coming tomorrow I reckon