Member Info for Genghis15

My thoughts exactly.

Prime
from memory i think the intention of a new CPR was for sometime next year.

I have watched here a long time, can recall when it was 30p! Have held previously, even attended AGM back in, oh, 2016 or 17 I think. Been sad to see it drift down to tis level.

been thinking for some time that there is a potential SP recovery here., haven't ought yet but v tempted.

Fwiw there is a bit of twitter ramping going on atm, don't know what has sparked it, but can't do the SP any harm.

littlened

Please yourself.

We don't know. Most likely we are, bcos I would expect an update if not. But has the WC increased, the BHP behaved? Have they been able to up the rate, or turn 7z back on?

Are we still confident in RT's perched water assertion, or not? etc, etc.

Fwiw I lean towards the positive, in that I think it more likely than not thaT rT WAS RIGHT, WATER IS PERCHED, AND THE WELL(S) WILL WORK. bUT WE DON'T KNOW, AND WE HAVE NO OTHER WELLS. (Sorry 4 CAPSlock)

as you well know, not in the same way as here.

It's only a ridiculously low level if the wells work.

Simples.

You [posted yesterday about "net assets".

My comment stands,
"Phaps you should examine the 700m in net assets you blithely quote. What is it? You dpn't even say $, or £s.

How much is cash, or near cash, and what is net CURRENT assets?
And, of the non current assets, how much issinply accounting fiction?

These figures from balance sheets are meaningless without considered analysis"

i would think so, too. Only at that point will we get a sensible steer on the way forward.

haggis
"I think it is clear Lincoln / Warwick is no not-happening.
However Halifax may well be worth another look.
Possibly even the potential hidden jewel in crown?"

Agree. But if we run into further well problems, imv GLA may never happen. If they clean up and behave, from this sp we could be off to the races.

quite likelt he would have een pleased to see RT/AS go, and while he has no seat I'd bet he lobbied the chairman and new NEDs for it.

But the real power brokers here are Kerogen, and Roy Kelly's departure to un VOG may or may not be significant. Either way, going forward the co will be a different beast.

But ST, all hangs on the next ops update.

Phaps you should examine the 700m in net assets you blithely quote. What is it? You dpn't even say $, or £s.

How much is cash, or near cash, and what is net CURRENT assets?
And, of the non current assets, how much issinply accounting fiction?

These figures from balance sheets are meaningless without considered analysis?

Yes that's very possible.

It would seem so, but they have denied such to date. No knowing if/why their mind might change.

Could IR not answer that?

pOo IS OBVS IMPORTANT TO ANY OILCO.

bUT IT IS not THE CRITICAL ISSUE FOR THIS SHARE, AT THIS TIME. (Sorry, CAPS lock)

booky
"I'm an accountant and not an oil expert."

Me too. But the issues are pretty clear. The wells have not performed well ; the great question atm is can they or cant they increase production, from one or both, to at least the planned 20k bpd. And will water continue to cause further questions?

The mention in last RNS of the BoD modelling a higher OWC slooked some, as it would have imolications for resrves size, as well as water breakthrough.
It really is dyor.
Fwiw, my view is that the most likely scenario is that well problems will continue but eventually the resrvoir will come good. But you don't need me to point out that the risk of it all going wrong is much more apparent than it was a couple of years ago. And we are a one trisk pony, essentially.

Read the last few RNSs.
Agree somewhat with daltry, but otherwise there are too many quick buck merchants on here atm giving false advice. A look through 2020 RNSs will tell you what you need, if you're a LT holder you will have background already.

In a nutshell, it's about well performance, including water cut, and the implications for production and reserves.

We all want to hear good news.
Have you got any? If so, please share.

What we don't want to hear is uninformed drivel which ignores the very real issues that have driven the sp to where it is.

Ultra, I understand what you are saying, but the SP is down 0.67%, hardly an amount to cause concern.

Yes, we need all those things. But in the absence of anything from the company, any indication that at least 12k bpd is proving sustainable would be a big, tho qualified, positive.