Member Info for highlandmatt

I suspect the BOD are doing very little other than asking Gneiss to vet various options, which they get to charge a fee every time.

£20k was given to EAG for working capital.

Can we do without the name calling, please Nigel?

This is just a default clause, using shares as collateral. There is nothing in the wording of the text that I have seen that indicates when or which bit of the APA the loan is repaid from. If costs are $3m, it could also mean these are deducted from the upfront fee so SCIR receives no cash at all until FID.

BOD - can we please have clarity, in writing of this point. Is the Facility for the costs repayable regardless (as per the text of RNSs and the Circular) or is it cancelled upon Completion (as per Tom's interview answer)?

It's quite tricky to say with any honesty that you've sold down before the event.

Yes. Recently came in to a small amount of money, and wanted to diversify (mature) my portfolio of explorers to include producers. All part of the plan to build future income. Spent an evening running the rule over 8 likely companies. Settled on this and Petrotal. Looked at the forums and saw MT invested in both. Having encountered MT in Central Asia Metals (a great dividend payer) then Touchstone (exploration success which will pay once connected) this is a positive sign for me.

MT, I wonder if EAG has leased some equipment, using EAG shares as collateral? There was talk of a nutrient byproduct. Could this be to develop that?

Saw that. Someone is confident.

Thanks Sturm. $200m = £160m. So on p/e10 = £1.6bn. Divided by 830m shares = roughly £2 per share.
Seems to be some margin of safety.

Hello all, just ran the rule over this company, and it is in a vastly different space to 2020. Production up, and price of oil up.

It's not just the purchase price ($3m upfront), it's the $6m for the costs this year (seismic and drill). Then next year with FID it's another $3m to SCIR, and who knows what for development (another few million?).

So $9m to find immediately, then another few million next year, so $12-15m. Then there will be facilities and pipeline costs. It would require a $10m (£8m) raise now, followed by further raises.

Is it worth diluting by a third to a half? On the flip side, $20m or so to access hundreds of millions of revenue. There's a business case to be drawn up isn't there? Question is really for the Zubairs - do they want to ARA to have more, but using their money, or AEX more, using money from institutions?

Diolch yn fawr.

Where is this article, Chris? The source is starred out. Cheers

https://www.bbc.com/news/world-europe-62092115

Depends how much is allowed before approval. No more pads, or roads obviously. Presumably no pipeline, surface facilities for the existing wells? How much time from approval to commissioning? If it was May-Sept (4 months), then if approval is say Aug, then it's end of year?

Hi Dunder. It seems PB/TXP were working off the timescales set out for a response, whereas the average given is for approval?

Edging up nicely, over 60p.

I reckon we will. Coho online, announcement of drilling program - 2xcoora, Coho development, Royston sidetrack. Then Cascadura approval. Lots of progress next 6 months.

The numbers are correct. EAG is not the first company to borrow to buy a business.

So the asset cost more to build than it is worth. What is £700k? 2 years profit? £900k is what, 3-4 years net profit? That would be be judge as to whether it is a good ROI.