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you make good points about dividends. fully agree. Maybe oligarchs are also giving their own money as well I am sure they would want to prove themselves and show their ''love'' for Ukraine. again example of FXPO who paid much more than ENW in charity (although maybe proportional) but they continued paying the dividend. But ENW must continue paying humanitarian aid from their accounts, imagine if they didn't.. just how that would be selfish and cruel and they would be destroyed in the country at every level.
Also, you are correct and I guess its the cold truth, we are anticipating for this to go the route of JKX, I am sure 40p would make many happy here
receivables are a worry because of the overall situation in general and who knows when and how they might be paid. They did recover some of it recently which is a good sign and UAH might collapse further or even recover.
Regarding charity, I mean what do you expect? They are in a war torn country, with their people and their workers families suffering and of course they should make contribution. It is not a secret and it is a right thing to do. You don't like it as it impacts the cash pile? Sell and move on. Just look at FXPO and how much they have paid in charity from the very start. I am more worried about recent well results, potential fracturing and workovers and if this will be successful or not
draft you are a bit of a fart! ok bad well result and sp goes down its normal so what are you doing now farting in here from your mouth every min?
Ever heard of an oil company in which every well drill is a success?
thanks Eco!
I like where is Wen going and becoming more than just 1 asset company is better and move in the right direction. There are other opportunities in Africa so hopefully they will continue with this trend.
Just got a message from my broker in regards to Wen dividend. Take it in cash or reinvest? I do not understand at what share price will they reinvest? does anyone know how this works or how it worked in the past?
Thanks
Firstly, I am the LTH owning few million shares here.
Secondly, I consider this absolutely terrible update:
- No clarity or just clear up front explanation from the CEO or COO on huge drop in production in Romania which can not be explained juts by around 3% natural decline drop/month
- AGAIN no clear timeline on completion of seismic - do they do project management? do they have ay plans? is contractor bossing them around? surely they should be able to say what their target or milestone is?
- Is a huge drop in production in Romania explained by a facilities maintenance shutdown? IS compression working to stop this decline?
- Same for Sabira pumps. Everything is in place but they still can not give any target dates- Amazingly bad management and reporting here. You are now claiming everything is in place but still you can not say what is at least your expectation of the start or when the rig will be on site?
Update should provide answers and NOT raise so many questions and doubts!!
i dont want it to be..BUT i am afraid its gonna be the same old presentation with same old regurgitated slides...show us some real progress otherwise its going back to 1.7 p level again. Cmon Senx get your act together otherwise please Do Not present the same slides we've seen for past 2 years
excellent flow rates result from SV-31 well and to do this in these circumstances is impressive and better than previous SV wells driled in 2021 and 2020, namely SV-25 well (450 boed) and SV-54 (565 boe). As they were at 2,500 boed this should lift it to 3,250 boed which is bringing it back to respectable levels closer to before the aggression. sp should reflect this and go back up towards mid 30s level. lets now see what they achieve with SV-29 well
They are really ****ing me off now. Consolidation? Share buy back? Like they are trying to do anything EXCEPT doing the work they are paid to do. They seem so incapable. For crying out loud .install ESPs, produce more, finish your seismic processing (how long does that take Serinus!!) and get drilling more..do THIS FIRST and get some results and then worry about share consolidation!!
I bought a lot on the drop before the Russian aggression and now it is back at those levels. I think Russian withdrawal and defeat in the north and opening up of Kiev is a good news for us. I am expecting Quarterly update which is due any day. Hopefully they will announce the increase in production to pre war levels and more importantly progress on all those wells. What happened to SV-29 after all the delayed testing? Have they completed and tested SV-31 and SC-4 wells plus other workovers? Lots of potentially good news here if the access to their assets and the overall situation around their acreage has improved
I agree with many comments here but to be fair he was apologetic on many issues and his inability to answer.
What is really bad is that in the Annual Results presentation they again focus and harp on about the retirement of debt and historical production growth. That's great BUT an old news from 2019 /20 - what have you done for me lately? And then they again complain about how the past and their successes are not appreciated - how on earth can he say that?! The worst thing is the fact the they only had one basic bullet point slide about the future plans? Are you kidding me? They couldn't have made Gantt chart with project and key activities schedule for 2022? or they don't want anything to be accountable for?
They were also deceiving with production numbers grouping per 3, 6 and 9 months as this hid huge production drop in last quarter (partially explained by facilities maintenance shutdown). Why not just say it? or why not have a paragraph about 'Post event' such as about current Romanian gas prices they are getting (how much through trading company they set up?) and current cash balance-as Arden indicated it to be around 6M much less than by year end. Even for simple easily planned thing as seismic processing they could not give even approximate dates?! arghh