I think the move up will take place once funding is sorted out, hopefully via another farm out within the timeframe of the hot- 15.4.20. Right now we are in a better position but still dependent on farm out to fund the well.
Good summey ggg. A dolphin deal which is not probable as we are going to farm out soon, might be the best and looks like dolphin are interested in such deal, but it wont be a partnership, i3e will keep its 100% ownership, dolphin will develope the field and will get royalty's. Every 1% royalty is 50m$.
UK-based energy consultancy group Wood Mackenzie says the warning signs are everywhere – “the industry isn’t finding enough oil.” The analyst, in a new report, said Guyana is one of the very few locations in the world where giant oil discoveries were made during the downturn.
“Fact is, we need more Guyanas, a lot more, and we need them soon. Without them, the oil market is in danger of tightening in the not too distant future,” the consultancy group stated.
80% of the shares are in the hands of ii and insiders so you have only 20% on the market, if someone just try to take a bite the sp will double or triple, so as good as it sounds in theory its not realistic.
Tonny, ill explain to you what you write, instead of giving 43 slices you wrote that youll cut the same pizza to 43 mini slices to buy the bike. And if you are talking about post farm out as you wrote then no need for the 35mp.
Its you that wrote that 440m shares in issue will raise 35m pound when it will raise only its share of the 8m pound value of around 6.5m pound, please dont call your self stupid, you just made a funny mistake.
"Assuming they need to Raise GBP 35M at an SP of 8p . This equates to an additional 440M shares". that's a funny remark to start the morning with... how to raise 35m ukp with a 8m ukp value... hhh you can issue a trillion more shares, the market cap will remain 8m ukp...
so we were waiting for a consortium meeting by the end of this month as stated a few times in the last few weeks to finalize the drilling schedule for 20-21 only to read in this rns that "a final decision on further drilling activity and the overall budget will be made in the coming months." no news out except that and a hint that drilling will be delayed till next year. with no corona and the tlw financial issue I would expect a sp of around 0.50 at the moment, but as it is we can easily break under 0.3.
A 300m ukp valuation compare to 60m ukp at the moment sounds unrealistic so I'll explain. 750m bboe target, if successfull, means 100m bboe net to eco. Taking pareto's valuation key at 4.9$ a barrel is around 500m$, the derisked prospective resources should add 0.5$ a barrel for around 2b barrels derisked as followup prospects, thats 300m bboe of prospective resources net for eco that value 150m$. By then namibia will add value incase of success at venus-1 well or farm out. So all together thats around 750m$ of value. The same way pareto's target price was 80% higher then market value, I take a discount to market price of about 2p that value around 400m$.