Member Info for gotabesirius

1.27 paid on this secondary platform this morning. Surely interest will arrive today.....

What absolute tosh. At current spot prices this company is producing cash at the rate of around £500k per day. Find me a company at £270m market cap, £100m in cash and no debt that can produce cash at that rate in a safe jurisdiction and I'm all. Ears.....unbelievable opportunity currently given what's to come over the next 13 months!!!!

Incredible isn't it!!

Exactly, so 38p x 58 gives £22 per barrel or $30 pb for gas. Add in 20% of oil at say $40 and you take the cash margin up to $20pb.

That's $520m fcf per day!!!!

We'll get quarterly cash position in January. Has to be up to around £120m?

Excellent update on production!

Plug in 26,300 boepd with opex likely at be around $12 boepd and we should see a huge margin on current spot oil and gas prices. Anyone like to offer an average price per boepd so far this quarter? We above $30?

Orm is effectively a cash shell, ripe for investment. My experience with cash shells is very, very good but its a game of patience. Hence the reason why this is so cheap. Many private investors are chasing empty promises and pipedreams, however if you buy companies near cash and wait (patience) you are removing 90% of downside and opening up multiples of upside when a deal arrives. And it almost here.....good luck with whatever you decide

That's devastating to hear. Remember, there's lots of people on bb's with an agenda and why I rarely post unless I think it has merits and to counter an argument. There's some absolute dross listed on the AIM but one thing you can't deny that provides massive upside potential, is a company valued at or near cash. Good luck for the future

Probably a tad binary. If RTO then Orm shareholders will be allocated a percentage of the grouping. Unsure if Dunraven have cash but appears so. Devil and value will be any deal and detail... If indeed its Dunraven (although looks like it is) imho

Indeed, risk reward doesn't get much better and we have an extremely short lead time to news. Perfect ****tail

I get your pain but that's no need to undermine new investors and the potential short term for everyone to make money. This will go only one way from here and how high will depend on the asset and how any deal is shaped. Good luck to all new and old I say!

I'm not here to argue. I've made my opinions clear and you've made yours clear. Within 12 days we shall see who's right, if either of us!

Personally, if I decide to back a company with my hard earned cash, I'm fully behind it and will justify why I'm bullish, a strategy which has served me incredibly well over the last 20 years. If I'm not bullish I wouldn't invest.....unless you've been stuck here for years and are a little disgruntled

So your're a very upbeat and supportive shareholder....? haha

If I was so negative re this company's future, I'd take my money somewhere else. There's another 1800 companies ha

Watts, I can't see Orm wanting anything to do with another listed company, let alone focused on gold in Africa (graveyard of AIM miners). Listing a company in UK is an expensive business (circa £1m) so It's important for ORM to gain value from this listing by attracting non listed companies which would potentially gain value from the open market and access to the City.

Plus, as Ivans outlines, Orm is sat with a war chest of tax losses which is worth an absolute fortune to any near term producing asset, again, adding value to orm as an asset. Personally i think any gold investment would be madness, gold is near historical highs and any venture into this sector would be expensive. Additionally, if considering a gold venture, why look to divest their gold and copper assets in Spain?

Oil and gas is at the bottom of their relative cycles and value in M&A in Oil and Gas currently is perceived to be extremely high. (Likes of Kist, sqz and many others all looking for value acquisitions) .

I'm going to stick with my initial thoughts re Dunraven and if any merger, JV, RTO is to contribute towards a near term drill in ex Circle Oil assets, then you can expect fireworks for ORM shareholders. Additionally, if ORM move over to oil and gas I would expect a separate announcement around the Spanish gold and copper asset sales so the business can change it's investment criteria and appoint new board members accordingly. Maybe the delay is more related to an asset sale rather than where the business headed? Why the sudden price surge to 1.8p a month or two back....., someone certainly got excited about something. Either way, we'll find out in the next 12 days and valued just above cash currently, I see minimal downside at current price.

To quantify this: at $5 operating margin and 45,000 boepd that's $83 million free cash flow per annum. At $15 operating margin that's $250m annual free cash flow pre Capex (limited). This won't stay at current market cap for long as we progress towards these kind of production figures as cash would overtake market cap at some point in 2022.

Not to mention move on to 100% of BKR production 1 Jan 2022. With the developments you mentioned we could easily be producing circa 45k boepd with limited capex required. If this falls in to place we could be looking at a significant rerate way above previous highs in 2021. Patience all!

Exactly!!!!

Great post Ivans

It's not the Henry Hub you need to watch......it's European gas prices which are much more related to the weather this time of year.....

"We hold a 100% interest in the highly prospective 3,000 km2 Mahdia offshore permit in the Mediterranean, with 114 million barrels of ‘best estimate’ prospective resources. "