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If "Numbers to June are not good" with IGS what will they be like after June??

With regard to cash savings the average number of employees in 2022 was 168

The 2023 Corporate Presentation suggests this has now reduced significantly to 120 and there are also two less Directors

It looks to me as if 2023 will produce a) increased revenue and b) reduced employment costs.

No sarcastic comments please, but just possibly PH is earning his money.

Please DYOR

Gary - your sentence " filing for 2020/21 PH's salary then was £ 567,515"

As Rocky said, that figure is actually in Dollars not Pounds i.e $568k comprising $358k Salary and Bonus, $27k Pension and $183k Share Based Payments.

your sentence "it surely must be way over that by now.?"

Well actually no, The combined total of the above for YE 2022 was $555k, a slight reduction.

Like I said before I would agree with both Rocky and yourself that it is on the high side but on the other side of the coin Block now only have three Directors where as two or three ago there were six.

From Malcy's Blog, 5th October:

"I haven’t seen Chairman Paul Griffiths for a long time and I am hoping that I will do so in a few weeks time when I go to Morocco for the Oil Summit in Marrakesh. I’m hoping he will give me some time, as other leading figures in the industry have promised!"

Guzz - I have to say that based upon how it was "sold" to us the 100% acquisition of Krunch seem to make sense at the time, what appears questionable was the valuation.

Thanks Nick - very helpful.

Nick - Can I ask a question, you mention "Today's satellite image" (20th) and a previous image on the "15th".

Are the dates 15th and 20th the ACTUAL dates when the satellite images were taken?

Gary1960 - I would agree with you that PH's salary, etc, etc is on the high side considering, however even including shares, pension, etc it is nowhere near as much as you say - all in the annual report.

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

Lothbury & Lostmoney - I agree with you both totally - have done for many months.

(ps - year old information was only posted because you were asking about Streams Data)

So Lothbury, why do you think it will be "bad news" ??

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

The BIG QUESTION I have is this:

On the 4th August,2022 Mobile Streams announced unaudited revenue for the year to 30 June 2022.

Why no similar announcement this year?????

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!!

Chesh mate (can I call you mate?). I don't understand your figures at all or where they have come from, example 3rd Quarter 2023 was Average 630 boepd - where does your 517 come from??

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.

I notice someone has had a post taken down, about time. - Nothing to do with me but well done to whoever reported it.