Mrndaddy100 - You mentioned "2 million in stock" - that is approx $2m in value, i.e Assuming no sales since Q3 update and after deducting State of Georgia's share from subsequent production the amount of oil currently in storage awaiting sale is probably in the order of 24,000 bbbls which at $85 would be around $2m worth.
Sarah1234 - "how many boepd did they add to the overall production figures from the last drill...the answer is in the detail!!!" - Average Production for Q3 was 630 boepd, Production figure at end of September after WR-34 stabilized was 684 boepd
In the year to 30 June 2022 Mobile Streams continued to offer games and other content direct to consumers across a wide range of mobile devices in three emerging markets, whilst focusing resources on the growth of Streams Data, the data insight and intelligence platform launched in 2020. For the second year running, the net revenues of Streams Data (£799k in 2022 and £217k in 2021) exceeded those of the legacy content business.
Group revenue for the year ended 30 June 2022 was £1.0m (2021: £0.4m). Whilst the legacy revenues continued to decline to £223k (2021: £258k), revenues from new sources increased to £799k (2021: £137k). The new revenue sources from Streams Data are comprised of £564k from International Gaming Systems ("IGS"), a major contract win during the year, and £235k from other new revenue sources (Streams Bespoke and SaaS, LiveScores, Quanta and other):
Our Streams data insight, intelligence and visualisation services and marketing optimisation tools support the content business, as well as serving enterprise level bespoke clients and the Streams SaaS ("Software as a Service") self-service platform. Our strategy is to deliver next-generation content including gaming, Esports and related Non Fungible Tokens ("NFTs") to a global audience.
Lothbury, as far as I am aware the various Revenue streams are (or have been) as follows:
Legacy Business
Streams Data saas
LiveScores
IGS partnership
NFT business
Do I know how any of the above are progressing? - No
Do I have any thoughts on how the above are progressing? - Yes
I believe the audited results for the year to 30 June, 2023 have to be published on or before 30 December, 2023
Extracts from 2022 RNS:
"The rationale for the 2021 transaction was to acquire the full rights to the expertise, systems, software and intellectual property provided under licence by Krunch; to terminate the revenue share agreement under which 50% of Streams Data revenues were due to be paid to Krunch from January 2022, and to eliminate the risk of Krunch being able to terminate the agreement at 90 days' notice."
"KrunchData has provided the expertise, systems, software and IP which has enabled the company to grow its Streams Data platform which supports the growth of our data insight, intelligence and visualisation services and marketing optimisation tools, as well as the growing content revenues from esports and gaming."
From RNS 26th September:
"The team's focus will now shift to drilling KRT-45Z, our fourth Project I well and I look forward to providing further updates on this and wider project activity in due course."
Assuming there have been no oil sales since the Q3 update I reckon the value of the oil in storage would now be in the order of $2m - Alternatively some of the oil may now have been sold and perhaps Block are awaiting payment.
I get your drift Chesh, believe it or not but I had already done a projection for Q4 and YE2023 assuming a production rate of 630 boepd for Q4 which I think is a reasonable assumption.
My figures are expressed in units used in the RNS's, i.e
Production for 2022 = 164 Mboe
Assumed production for 2023 = 212 Mboe
Divide 164,000 by 365 and you get 449 (almost)
Divide 212,000 by 365 and you get 581 - same as you - Great minds!!
Morning Chesh
I do agree with your line "I do fink Paul is taking a more guarded approach to reporting"
Reason: When they reported WR-34Z results they could have just said 19 days at average 223 boepd for the new well - perfectly true statement and would probably have had a better market reaction. However, they chose to also make us aware of the decline issue so when the Q3 results were announced there were no nasty surprises and our expectations for Q4 results will be realistic.
Anyway, looking forward to some news on KRT-45 which hopefully will give a further boost to production figures.
Because they both appeared "on sale" on the web site after the matches had actually been played, particularly the Cadiz one for several weeks after, Guzz and myself mentioned it on this chat board last week and they now both appear as "sold out".
I have reposted last nights post as it seems relevant to current discussion.
Oil Production for Year Ending 31st December, 2021 = 108,000 barrels
Oil Production for Year Ending 31st December, 2022 = 120,359 barrels
Oil Production for First Three Quarters of 2023 = 119,600 barrels
I think we can safely say that there will be a new Record Level of Production for the year ending 31st December, 2023