Member Info for hereandnow

MC £128 million

Cash $50 million

cash flow net back at $45 per BOE ,5000 BOE per day, 365 days per year = $82 million clean cash net back per year

20 million boe 2P resources at $10 per barrel valuation $200 million

On any basic valuation this company is insanely under valued.

And there is an enormous upside potential from all the un drilled prospects which the company is very very slowly drilling.

Note, the German subsidiary was set up before Trump's actions, British banks etc. wouldn't touch Iran even when everything was supposed to be ok.

I think the key metric here is that WSG's service is not sanctionable hence making the contract happen is collating all everything they need to fulfil the contract post Trump and making sure the Iranians are happy with all the alterations

We don't need the SPV, we have been told that at the AGM, it would make life easier though. The German subsidiary was set up because of payment , financing, banking problems. There are routes and ways of sorting things out apparently. The SPV would just make some of it easier

If they don't follow through it will really make a mockery of EU pretensions to be a strong, major player on the world stage.
V impressed with how the SP has held its ground considering the sell off across the markets the past couple of months

Read the last RNS, then listen to the latest interview on proactive investors. In it, he states there are more to come.

forget increasing 2P, forget all the prospectively . It is cheap on existing cash, growing cash, PE multiples and existing 2P.

Nice post, relevant and up to date facts.

I read this BB occasionally and it is typical of a BB where the SP is declining i.e. bitter and dysfunctional .

The SP is where it is because of a large share holder selling down a large holding and the company has failed to help find another II to take the lot of him at an arranged price. Fundamentally, the company is insanely under valued. It's knocking out so much cash I will be very surprised if it does not start to pay some dividends before too long. I've been following the company for years. I wanted to buy in after the CEO bought a huge wedge last year at 16/17p odd. Just bought my first stock today, about £20k at 10.5p. If the story stays the same and it goes down to 9p I will buy some more. And I think Clarke is an utter xxxx by the way but Wardle is fine

Further to the Company's announcement on 16 July 2018, Flying Brands is pleased to announce that its prospectus ("Prospectus") has been approved by the Financial Conduct Authority. The Prospectus is in connection with the issue of 6,200,000 Ordinary Shares to the sellers of Imaging Biometrics LLC ("IB") to satisfy the remaining consideration shares due under the Share Purchase Agreement between IB and the Company; (2) the conversion of £195,050 11 March 2015 convertible loan notes into 21,787,061 Ordinary Shares; and (3) a fundraise of £500,000 (before expenses) pursuant to a placing of 20,000,000 Ordinary Shares at a price of 2.5 pence per placing share.

I have looked in a few times lately and see ever increasing amounts of filtered posts. I take it from the general rancour that Voldemort is back from the grave and is back to his bilious best.

Is JS an anagram of BS?

No, this is an acquisition, the second contract is an MSC, aka the Iran deal but smaller

I just want them to progress the asset as far as possible. (I wanted them to do the farm out post 3D and CPR, but that is another story and also in the past) . The drill COS is fantastic. The SP by this time next year could be north of £5. I don't care if we get diluted at that price to drill more appraisal wells or develop the field into production. There may well be discoveries in Namibia by then and majors trying to farm into the Namibian assets.

Exactly Masterbaker, They will only pay more if creditors pay up.

I expect a decent sized tech contract before too long. Iran will come out of the blue.

From what I have gathered sanctions/no sanctions does not affect the basis of the contract. They are supplying a non-sanctioned service. The fact that it is Iran makes it complicated so we have the German subsidiary. The USA has created logistical headaches. They are working round them, it takes time, too much time as far as we are all concerned!!

In the mean time they will be EBITDA positive for the year, they've picked up loads of smaller tech contracts, more recurring revenue, they are carrying out dozens of training contracts round the world, they have over a dozen MOU's up and running, they picked up a £300k UK contract. They've hired trainers and engineers to service these contracts. They have recruited construction engineers and tech engineers to fulfil the Iran contract.

They've just picked ups a £1.4million turnover, 200k profit making company from a busted mother company for £20k. I think they are doing quite well. If they land Iran, the 'promised land ' extra MSC or another large tech. contract, we will all be very very much better off, here's hoping.

No, contract and terms signed years ago

None. Eco have no chance of getting another block off shore GUYANA. Only bigger players with bigger cheque books now. All future contracts will require a lot more money up front and a greater share of profits to go to the Guyana government. As they have stated, they will honour all existing contracts. First in to a wild cat frontier get the best terms. Greater risk, greater reward.

Deal depends on those debts being sorted otherwise it doesn't happen. It is all in the RNS

HHHMMMM, thy've spent £20k, it's peanuts and they should add over a million in turnover and make a profit, what's not to like? A neat little sub-division run by the founder, easy peasy.

150k at 9.30am bought and sold at 11.30 am, simples

day trade went a bit wrong!