Member Info for highlandmatt

replace 'about' with 'above'.

Lot of buys going through, but only just about mid-price. A big sell order in the background?
Otherwise I would expect to see the execution prices rising as demand continues but supply dwindles?

Wentworth are in a nice position. Options could be:
a) buy some of the SOLO stake, say 10% (for $8m?) or 12.5% ($10m);
b) a similar offer for some of Aminex's remaining 25%; or
c) a straight merger with Aminex (similar mcap). The combined company would have positive cashflow, and a free carry to a sizable development asset.

Option C makes a lot of sense for both organisations. Was this what Mr Ambrose was alluding to in the 'infamous' interview?

Dana - just tried a dummy sale. Offered 54.65p. Reckon you are right.

JTD - you mean 500 BCF or 0.5 TCF?

Solo or (and?!) Aminex?

Big drop Dec to Jan...not sure how accurate that is?

Er, the Mail has missed the bit about 2 recent successful gas wells that will deliver significant increase in revenues and profits in the next few months.

Instead of borrowing 30m (or whatever the DYAS deal was) to buy assets with limited production life, borrow 30m to develop what we have (and know lots about). Ruvuma would be the easiest route to achieving the stated production aims?

It's not a bad business case is it?

Just a reminder that the AEX presentation from July 2018 stated that 25% would equal a minimum of $12m p.a. cash flow. That's a market cap of £100m if we can keep it. $35m to full field development, payback is 3 years.
Anyone thinking the BOD may try to borrow the cash to see it through to development, a la Cove?

True Bid is 52.6. Just sold another small tranche to continue the transfer to my ISA.

Thanks Matherdj. Didn't think I had made up 140. Significant upside in time.

No, you are right BF. I'm misremembering the 'net to Aminex' statement. The presentation July 2018 contains the following:-

"Net to Aminex this Minimum (underlined and bold) rate represents approximately $12 million p.a. of fully carried cashflow".

So, reckon $10m profit, equals $100m or £80 mcap. That is 2.12p.

My mistake, and why we have these boards to check each other!

Obviously, Ruvuma/Ntorya could flow much more than 40mmcf/d, and I haven't put in anything for any condensates over what KN1 produced. In either case, valuation goes up accordingly.

Note, I'm not assigning any cashflow to Kiliwani until either it is proved that KN1 can flow again (following remediation?), or the decision is made to abandon it and drill a KN2 or KS1. There would then be a calculation of capex versus future cashflows for that.

From the depths of my memory (it's been a while since the deal was announced), minimum flow contracted is 40mmcf/d. I recall Jay was indicating much higher is expected, as that would just be NT1(am I imagining the 140mmcf/d figure?). Anyway, using the contract as the base case:-

40mmcf/d is about 3 times what KN1 was flowing at (12-15), and that was bringing in $800k a month, $9.6m a year.
So, minimum cashflow following development can be expected to be $28.8m/annum.
With minimal costs, we might expect $25m of that to be profit?
Using an earnings multiple of 10, would give a $250m mcap, or £200m.
With 3,771m shares, that is 5.3p.

Isn't that what Cove did? Kept raising for each drill?

Bizarre isn't it? Sell with what is just ahead? Oh well, folks have their own reasons and strategies, and it allows me to buy more at lower prices before it takes off.

Or wait two weeks for proper news?