Member Info for headder

Way too early to think of selling, OzzyG2 even @ FID if we get there in my view;

You will see on page 10https://ir.navitaspet.com/wp-content/uploads/2023/05/Navitas-Investors-01052023.pdf#new_tab

There is a phase 2 plus additional discoveries. Now, has anybody seen melbana energy? Has estimated 1BN BBls oip in Cuba api 11, on a 30% WI. 300Mau$ Mcap, £15M cash. Way undervalued here imo, having a partner already & a £200M receivable to collect.

If it looks as though RKH are ever to get to production? Never. If they get the award & are faffing about for a long time I might put a stop loss in somewhere. Is ozzieg2 a fan of melbana energy on the asx?

Anyone know why S.Thompson along with numerous other board members got, umm, 'sacked' at capricorn? He did say he was pleased with the 'return to shareholders' and the 'combination with newmed energy', so why were they ousted only to have others fill their positions straight away? Something to do with palliser??

Excuse me but when did Sam say Navitas were talking to fpso contractors? At the AGM? Down the pub?

Https://www.tradingview.com/x/XkYS6aLl/

You are seeing things, all it looks like to me is a sell off imminent when we touch the downward facing 50dma to a support area around 12.2 before consolidating either for a move higher ( S.L, Om related) or back to trending along the 200dma which is also sloping downwards pending a catalyst.......

Https://www.enquest.com/fileadmin/content/statements_reports_presentations_and_general_PDFs/131115CapitalMarketsDay.pdf

If timelines are similar, shouldn't a field developement plan be submitted about now?

@ Chessmaster; You are right, got me looking through Enquests old presentations though looking at timeframes. It took from q1 2012 to h2 2013 for enquest to enter the krakken project and get to project sanction and first oil was h1 2017 (3 years for fpso conversion).

Leased fpso details page 19 of Nov 13 'capital markets day' presentation.

Looks like a suitable candidate;

https://www.offshore-energy.biz/armada-kraken-fpso-starts-offshore-commissioning/

https://www.oedigital.com/news/505577-output-from-armada-kraken-fpso-in-uk-shut-in-following-failed-restart-attempt

Esg report. Must have been requested by a fund as has been going up since it came out with increased volume. Shen wells should have been drilled by now with completions starting within 2 months. Would hope they can continue the momentum with advancing Sealion? Feed study? Govt approval?

May also be of interest;

https://www.offshore-mag.com/field-development/article/14206483/energy-maritime-associates-worldwide-fpso-survey-27-units-on-order

Old article on the fpso market in 2009 and how high oil prices, followed by a decline & a credit crunch affected financing ability. https://www.offshore-mag.com/production/article/16758145/leased-fpso-market-strong-drivers-stern-challenges

Seems to imply pre-contracts are as standard drawn up pre-fid (like funding etc).

Interesting link, thanks. Would have to solve concretes natural cracking as it dries? Could use engineering concrete but has small particles of steel in it. I guess if it was easy then they would have made a full size capacitor already and not 1cm2 ones. Gives us something to research into.

Why would they do a fundraise in q4 when the warrants are going to be converted in q4? Also there is a share right for vb to purchase after fesability. This is all @ 9p mind but is 6M$ coming in. My thoughts are of a fund raise next year after negotiations have been reached for the carbon black offtake. Would be supprised if the plant isn't profitable now, as long as pre purchased concentrates keep coming in & vanadium price stays stable, should generate a 40% margin I believe (that's from the May presentation).

I hope you're right! After some research, it seems to me the said grade of carbon can be substituted in tyres, as is already from recycled black plastics and tyres but the price isn't very high. I think 12% of a tyre can be made of recycled plastic rubbish, certainly the tread anyway.... Definatly something to ask at the agm.

Just been reading the navvy esg report. Not much on Sealion but in a small section it states (as the company is now seemingly targeting lower carbon emissions); Sealion will have net zero emissions, the oil could replace part of the £20Bn UK imported oil with poor environmental regulations and the protection of human rights. It notes co2 from Sealion oil will be half the UK average. Also, by planting vegetation, using existing infrastructure and renewables it would lead to an offset. Also says will be lower carbon than offshore Guyana. The title in the report was Sealion as an example......

Seen it already;

https://tradingeconomics.com/kazakhstan/crude-oil-production

I suspect there is a lag between KAZ oil production & catalyst supply. There are currently power outage problems to get production back up to target from another recent downturn, am expecting things to be ok and like the Bridgen says, we should be earning some much needed cashflow and be able to obtain enough catalysts as they are spent. For what it's worth, I feel his 640k buy on the open market shows this is likely the case....

Spread is high due to the high volatility in the last couple of days (due to the buyer thus/fri), supposed to put traders off so the market makers don't lose money if the share drops as is procedure with a stock which has been trading sideways for some time.

Guess the speculator last week was counting on all the holders who lost money over the last few years & sold at a loss would be tempted back in straight after the first positive update. Not likely, I think we need to consolidate around 11.6 to be confident of higher prices from here, other than that it's just continuous bag holding in the hope of favourable financing terms for phase 1 next year. I expect can get libor+3% on some bonds from Kaz developement bank and Vision blue (along with the 6.7M 9p warrants) will do the equity portion above 10p (12.5?) which is why the Bridgen bought in a load @10p. If were really lucky the fesability study for phase 1 will show us extemely profitable.

We only need an equivalent aisc below $3.50 @ 7.50$ lb v205 for meaningful upside here on phase 1, thats a foreward pe of 2 after only the 9 & 12p investment rights.

Not excited yet, also from a technical perspective, have just broken through the 50 week moving average and need to hold 11.6 to be confident of a trend reversal here imo. Wonder what was said in London this week?

Wouldn't think the Bridgen would have bought in a big chunk a few Months back if he foresaw a placing although the 10M$ operating profit is likely out of reach given the consolidation in vanadium prices & inflation of supplies etc. (broker says 5M$). Steppe Cement reported today and no mention of rail freight back logs so hopefully FAR are getting all the supplies needed too. Disappointing not to get a Monthly update yet so expect something is a miss, if they need money it's to finish the feasability study i'll bet! Still bag holding here but getting tired of the delusions of grandure from the board, missed targets and lack of profitability.

Largo, the worlds largest vanadium producer in Brazil has a similar grade (1.6), makes ferro vanadium, and made a 20% operating margin ( before tax & G&A) on it's production in q1 2023. They produce from magnetite, roast the ore at high temperatures and currently look about break even. I'd expect the process of 'looking into va205 production' to be an ongoing matter!