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true. romeo has got the potential to be drilled deeper as the basement is lower in this drill location. trap obviously not incuring costs so presume would be happy to see the drill go deeper.
still around just very busy last 6 months with work. BRDG energy continue to prove that the market are missing the valuation here. TRAP produce more, have more proven and more wells to be drilled. brdg only produce 1200bopd compared to traps 1750 bopd. not always as easy to compare companies but these two are very similar. Trap better balance sheet too. expect trap will announce a funding package soon based on reserves and production to accelerate growth plans? and we still want to here on Trent? more proven assets
farm in is most likely so that they are able to see the well data first hand as the results will be of benefit to their adjacent licenses. the time its taking to update the market is the most positive sign here. not always the case but we were told about the 16 day delay and the 78 days to dry hole case. these dates have been well surpassed. they are either drilling deeper or testing IMO
its due to a poorly written news release from the results of a magnetical survey.
TRAP have no debt. paying for athena out of cash. last results TRAP had around £35mn cash.
interesting post. heres my take tho. add the debt onto the cap and you get £40mn. so the market values LHD at £40mn. Is this fair? well TRAP also hold 10% of athena and they are valued at around £40mn by the market. however, market hates debt. hates it with a passion and for that reason LHD becomes less appealing than TRAP> then think TRAP have other producing and proven assets. they also have big partners and many more licenses and cash than LHD. so if the market valuation of TRAP is fair in current climate then maybe the valuation of LHD is as well around 6p
good post. just going back to my posts... i suggested this is a very similar play to TRAP. currently valued half here. looking at bridge valuation there is clearly some upside already factored for the exploration. and why not its low risk exploration when in these waters. the downside on dusters will be 50% but it is highly unlikely that bridge will drill 4 prospects and not strike 1. my biggest concern may never come home to roost if they make acquisitions and that is they forecast production to fall next year. looks a good bet to me but I never buy a new share in its first few days of trading. this has rallied in norway on recently and it could be for the hope that they can sell into the few found strength of aim trading. not always the case. good luck
me too. also the latest presentation suggests falling production next year. however, 4 wells to be drilled this side of chrimbo means this could easily double or half. production not dis similar to TRAP which currently trades at a cap of around half Bridge energy. but bridge have arguably bigger exploration assets. also north sea. can see both good upside and serious downside on the up coming wells. but you only need one strike in the 4 wells to make a bit. GL
looks like the deal is close. the change of address.... this address is for eversheds solicitors so maybe the assets and company files are now in the hands of the solicitor pending the sale
personally think the debt is an issue to potential suitors. also LHD will be paying their share of the costs for the workover required at athena. hendersons can make money from the interested parties if they happened to be TRAP as per last time.
http://www.investegate.co.uk/Article.aspx?id=201209060913306432L
I dont hold because I am concentrating on namibia
IMO. dont hold but the BOD have done well. good deal.
we know why there was a seller. yuk
added .... gulp
at trades are not your run of the mill PI's. this is likely the same seller derisking.
market is poo. i am going on an early holiday
how the sp is moved down on 600quid trades and the large buys that pop up have no effect whatsoever
75k buy showed their hand
buying well of the ask now