The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
They need to plan for the future as this has production won’t last for ever. Reserves estimates based on 2D seismic are usually way optimistic, once a 3D is shot it’ll shrink, always does. Keep exploring I’d say.
Investoroil has been ramping GBP for years…
All the way down from 2 p to 0.5 p.
Who to believe?
They only have the lease on Namibia for another 9 months or so unless they find the $$ mm for a 3D. Unlikely.
‘Projecting bile’ seems like a bit of an exaggeration tbf.
If you think they won’t need a raise then simply say so and explain your rationale ..that’s a discussion. Maybe I’ll say, oh I see, didn’t think of that..?
IMO the only way to make money on aim oilers is to predict the dilution events sell and buy back once they are cashed up and excited bunnys again. They are all the same useless bunch at the end of the day - can’t think of one that’s provided a good return on Capital..if you want long term value buy shell. Anyhow This is finished for now for sure as the cash cliff edge is way too close so needs more ££. Maybe Im wrong ..let’s see.
Good luck.
Needs 3D before licence ends in August next year
£10 mm minimum cost. There’s no plan.
Dave he’s ramped it all the way down from 12p to 1 and a half p. AJ is nothing if he’s not consistent.
This is now embarrassing though, the BOD have to go.
The rest of the industry is in boom mode. Just sell the acreage or farmout at any cost rather than go bankrupt pls..
How would they raise the money to drill if they ‘won’ and Zenith ‘lost’. Would be a colossal dilution for just one appraisal well with no guarantee of good oil flow. This has a total market cap of £3mm? No chance.
I agree Mpuppy it’s the oil price that will save them not their own abilities which are non existent. So Stop spending batten down the hatches and wait for someone bigger to come sniffing for a farmin. These muppets should not be trying to develop on their own. This would jump big time on a farmin.
There is no 60 mmboe 2P. They don’t have an up to date CPR base on the 3D or recent drilling so it’s misrepresented if they continue to quote old CPRs. As for the employees requesting not to be paid cash.. I mean you have to be joking lol. This is simply out of cash and ideas, they are barely a going concern and are loosing $2mm a year or thereabouts. A busted flush, it needs to close down save the bit of cash it has, and farm-out ASAP.
The only chemicals that will work here are anti depressants
It’s just more obfuscation I’m afraid
This has never made a profit and the losses are increasing by the day as the existing production continues to decline.
Needs a big farmout deal as won’t be able to raise sufficient funds.