George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
loudspeaker - I have been there. Multibag and thinking it will go up forever only to see profits vanish as everyone else around you sells. It is your choice but that chart looks bad.
News today? This could be the week!
Sounds legit - NOT...lets set a benchmark of 12p for the purchase of 3AB and then 'drive the price down'....hmmmm yeah ok...KO has always given the company working capital - this year is no different and as last year shows, of the $8million given to the company, $7million was paid back from oil sales. Back to reality! Limerick is not buying at 10.25p because he wants to lose lots of money. He has 3.7million shares now at around 10p average. Once one of the deep wells is flowing, we will have a re-rate to around the 30p mark - two wells and 50p is likely. Those wells will being in $80million profit and A6 will bring that to $120million. Add to this the MJF in-fill drilling and we are at $200million end of next year. Then we in-fill the two deep finds in 2020 and drill 3AB....target is to become the 4th biggest oil producer in Kaz and I can see how we will do it! We have a clear path now and projection for $320million of profit within a few years. Anyone thinking we are going to 7p is a blatant de-ramper and in dream land. CASP is now on the verge of becoming a serious oil producer.
Just dumb... I guess you both feel it would be better to save up the pennies rather than borrow from our CEO in a lump sum so we can actually get some work done and then pay him back from oil produced.... Yes, far better to save up week by week as do tiny bits of work at a time... Oh wait... You are all morning about that as well! KO is paid back the money he is lending as shown in the last financials. Not even getting involved. Fingers crossed we get that 801 flow rns so you guys can just shut it for a few hours!
Difference is that now we have three deeps about to flow and a full production plan to 2021.
MLQ.... KO is fully supportive of the company as he has always been and the previous financial advised of this. Providing the company with working capital paid back over the year is nothing different. The company has run like this for years! Differen
Gritster.... I suggest you keep quiet mate. I say that in the nicest possible way.
imo - by the end of 2019 - we will have a net profit of around $200million.
Gritster - Just one deep working will throw off $40million in profit currently. This is enough to start the MJF in-fill drilling and to spud A7 and 802. Just imagine once we have all three deeps going! It is going to be an incredible year for CASP next year if we can flow even one deep this year. If we don't get news this week, interims are coming around the 22nd and we will have a lot more detail in those.
Beynon... KO is loaning the company money for working capital. This is being paid back by oil sales. It is Not the same as owing money to a bank and breaking banking covenants. In 2017...KO leant CASP $8million and was paid back $7million. We are very lucky to have a supportive director bankrolling the project and I have always made it clear that this is what is happening! However, this is short-term help until the deeps flow and is Not debt in the conventional sense. We all know that we Must get the deeps into production at some point but what other Aim company has this sort of support from Directors? Let's see if we get 801 or A5 flowing this week!
MAX spent the only money they had on a deep and the drill bit got stuck. It was a disaster for them and financially ruined them just at the time of the drop in oil price! Our deep drills at CASP are all completed!! One is being cleaned ready for test, the other is having some work done on the bottom of the hole before re-perforation and test and the final (A5) is having the liner replaced after FLOWING 3,800bopd. Our MJF structure has been shown to have 10sq/km of shallow oil in 5 horizons and they are now being tested so the full production licence will give us around $45 per barrel PROFIT - WE HAVE NO DEBT!!!! How anyone can try to be negative at this point with Directors buying in, international prices coming, huge production forecast is beyond me! Comparing us to MAX is just stabbing at straws MLQ as it is clear you have sold out and don't want the share price running away from you on Monday! Who knows, we may have two deep wells flowing tomorrow - we can dream!
MAX was drawing in debt just as the oil price fell away - no comparison to CASP who are debt free with three fully drilled deep wells and highly profitable shallow prospect! You are scaremongering MLQ.
Up for sale Max Petroleum (LON:MXP) said the proposed cash injection deal with AGR Energy remains the only one on the table.
AGR Energy, a vehicle owned by the Assaubayev family, is proposing to take a 51% stake in Max by subscribing for shares at 1.64p in a deal that will raise around £37.1mln (gross) for Max.
Max announced a strategic review and effectively put itself up for sale back in July, but it said on Monday that it has not received any offers superior to the proposal from AGR.
Meanwhile, the company revealed it has been successful in getting the loan covenants reset on its banking facility with Sberbank.
The company said it is currently in compliance with its loan covenants, and has paid all interest and principal payments due under the Sberbank facility agreement, each of which has been paid in full when due.
Max is due to make a US$3.2mln payment to Sberbank in December and a further US$6.8mln principal payment in March 2015, after which quarterly principal repayments of US$6.6mln are required to be made through o November 2017.
Max said that if the subscription does not complete, and if, in the event of it not completing, no alternative source of funding is found, Max is unlikely to have sufficient cash flow to recommence its capital expenditure programme.
Furthermore, with the price of Brent crude having fallen dramatically of late, even with the capital expenditure programme suspended, cash flow is unlikely to be sufficient to continue servicing its interest and principal payments with Sberbank unless oil prices recover.
The directors intend to ask Sberbank to agree, as soon as possible, a moratorium on principal payments, including the US$3.3mln principal payment due in December 2014, and to discuss with Sberbank the restructuring of its facility agreement with the bank.
Solitude... I feel for you... It must be hard being old and alone in your shack in the woods.... Well, there is always dogging for you if you get too lonely.. Haha. Gardens... What... That square patch of recycled plastic attached to your two up, two down? Wouldn't really class that as a garden... Possibly a place for the cats to take a dump.. Not much more.
Yes, CASP will do well and I will be there fully invested when it does... You will just have some crumbs. Now I know why you call yourself Coffee cups... Its because you are so broke you have to stand outside the train station with your coffee cup begging for change. Explains the astroturf in your garden... You are obviously too poor to afford fertiliser. Don't worry, when casp comes in you will have almost enough money for a bag of Wembley grass seed. Haha...
Will do CoffeeStain!
That's what you think! Never behaved like that. I will leave that behavior to the needy. We will be charitable and give you your 10% as we know how much you need the pennies what with you being old and infirm. You can use it for some adult diapers and baby food.
And yes.... I hope for a 2p dividend next year and carp for Xmas.... Haha.
Absolute rubbish. I have top sliced many times over the years but I don't consider that trading as I have always had a large core holding from 2013/2014. Certainly not lost my bottle. Just not worth being out for 10%gain on any amount with the news we are expecting. Unlike you, I don't need the money... I have enough mate. That's why I remain in and I am buying more. I have a few k sitting in my is a account just in case there is a delay but I have nearly 2million shares so what would be the point of selling 100k? Its peanuts profit and would only mean something to a small time trader like yourself!
Ahhh... Yes, the old 10% and sell. Good luck with that cc. You will get it too and then you will go all negative again... Rinse and repeat... Until the time when you miss out on the big rise. Have fun with your winnings... You could have a few days at butlins for that! Haha.
Fine, continue with the childish behavior. Your choice. See you at 30p!