The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I agree the wording of recent RNS was interesting and I am hoping that they were closely scrutinised by the legal team prior to release.
My first concern was whether they added weight to the ministers stance regarding lack of financial capability within the company to progress the development. We know that this is just a convenient argument being used to support the minsters agenda and does not acknowledge how developments of this size are usually funded. I doubt that the same criteria would have been applied so stringently if it was a wind development.
However, BEY have other assets besides barryroe. If the ministers decision fundamentally undermines the ability of BEY to operate AS A COMPANY then surely there is a lot more at stake for the government than just paying compensation over barryroe.
Imo usa is a smoke screen. There will be dilution regardless.
What other options do they have?
My main issue is that, even without the added complications in tunisia( which I accept are unfortunate ) the profit per BoE is pitiful.
The money is not going to shareholders.
I repeat my point, using the most recent figures on production costs and the current oil price, 8000 barrels would not even pay AC for the year, never mind all the other obligations.
So ZENGAS, just so that I am not alone. what is your assessment of production costs per barrel for the 6 months to sept 22, taking into consideration monthly costs from italy.
Educate yourself - read zengas posts.
I think you mean YOU did not know there were problems. There is no 'we'.
You instead decided to use out dated figures to communicate in a condescending way to support your ramping agenda.
Regardless of the issues with production, you used profit figures for tunisia which you knew were not going to be replicated unless there was a hike in production rates. You also, like some 5th grader, used figures for italy that were based on the highest energy prices seen in recent memory.
CITM- queen of the wooden tops.
CITM 4th jan 'Its pretty simple Kels, $4 million has already been paid leaving $17 million left. In pounds this is £14 million and at least half of it is being paid by the Hong Kong shareholder. This leaves a maximum of £7 million to be paid by Zenith which is only one third of the market cap and can easily be paid out of the Tunisian oil and Italian gas profits which are about $17 million per year.'
Yes, its very easy if you use made up figures CITM. Care to reassess your $17m profits from tunisia and Italy.
Queen of the wooden tops.
Very poor wooden top.
nothing to offer but denial and dismal attempts to discredit. laughable really.
Where are your facts.....where is your analysis?
the price is 0.425 btw.
congo in tatters, tunisia on the ropes, italy boom time a fading memory,
There is always the USA smoke screen to justify further fund raising tho. phew.
At $60 we would have had a 'massive' net profit of £24k after paying AC.
Of course that would only be used to help pay the other directors.
But i didnt use $60 because it isnt $60. POO is down near $70.
$10 a barrel deductions.....really!!!
How much did the failed workover of ROB 1 cost btw?
$80k on that alone is your $10/barrel gone.
Please back up your argument with facts wooden top.
You mean like you do when you accuse people of not holding and of having multiple ID's?
show me where I have wrong TYB cos I want to learn how to tie your boot laces.
So what is then citm?
Prove me wrong with facts.....make sure you exclude profits from oil that wasnt produced by ZEN.
'I THINK' ....'I THINK'......'IMO'..
So what you are saying is just opinion.
but anyone who has any negative opinions isnt allowed to voice them , 'baseless deramping'. ha ha ha.
I think the facts support the negative view.
Price is 0.425 btw.
20-25 bopd current production achieved after 16 years....and no way of selling it atm.
Net proceeds from 8k barrels wont even cover payments to AC anyway.
Remind me how many shares are in issue?
Who is actually pinocchio then wooden tops.
Removing my posts doesnt remove the company history.
Keep on munching those carrots. USA carrots incoming.
TYB - so we were just given the 8000 barrels for nothing were we?
idiot
What he received is on page 59 and 60 of the '22 annual report.
Lets ignore the stock options because you will no doubt say that those are non cash ( even though they represent a substantial compensation at a fair value of CAD$607k)
He received a total of CAD$603 in wages, bonus and health insurance - lets say £360k at 0.6 exchange rate.
Assuming $50 per barrel after production costs etc. 8000 barrels = $400000 = £320000 at 0.8 exchange rate.
Can I now have the evidence from TYB that I do not hold and am mudstud.
Better call saul about that rig. .....and the drill team.
CITM - I am not interested in how he received the money whether it was salary, fees, bonus, health insurance. I dont care. The net income from 8000 barrels would not cover it.
Yawn..... Cant understand TYB's fixation with my holding.
No evidence to back up his statements......just 'feelings, nothing more than feelings' .
please can we get back to reality instead of the make believe world that exists in TYB's head because for ZEN holders its 'teardrops, rolling down on my face, trying to forget. '
sing with me TYB.
'woooo oooo ooo feelings'
I hold ZEN. That is why it matters to me.
You havent disagreed with the content of my post because its true.
Even if they were able to sell those 8000 barrels it still would not cover AC wages for the year.
That is the truth of it.
The merger has to be attractive to logp shareholders.
At present they are claiming for costs to date + npv for 20% of proposed development.
Unless logp shareholders are going to improve on that, why would they bother.
Think there are a few twists to go yet. My concern is whether todays RNS from BEY gives more weight to the DECC stance.
LOGP in a much better position.