Member Info for highlandmatt

Montara and Stag seem like expensive ways of producing barrels. I'm trying to work out how profitable they are - perhaps marginally? I wonder if they will be sold once Akatara is online?

Remember this held above 3p for a good while early last year. We are much closer to commercialisation now.

Fear Of a Mechanical Occurrence?

Challenger is now out of the picture, and PRD as operator is interested in taking the TXP stake.

From Predator RNS

Discussions commenced to acquire, subject to regulatory consent, the remaining 16.2% (TXP) interest in Cory Moruga for an overriding royalty.

Presumably viewed as non core, and any income without expenditure is a positive.

More likely it's just a typo of 2.38, and will be cancelled and replaced later.

So, we are selling our only producing asset, and the BOD is declaring that the investment vehicle and business model chosen has not worked. I await the next genius idea, and hope it is something that actually generated income to cover costs.

An institution holds 1m shares at 5p. Funding required. They sell, pocket 5m pence (£50k). Share price collapses. They buyback 10m shares at 0.25p, costing £25k. They have 10 times as many shares at a 20th of the price and pocketed £25k. They then sell those 10m shares at the placing price and get the £25k. They come out even, rather than £47.5k down.

Yep, mid Feb is my thoughts.

Info on Discord from Domus that Casca C will spud today. With $10m plus banked from Casca A since September, looks like we have a return to drilling operations.

I think we are expecting successful completion of trials, then receipt of certification of 'lab developed test', before it is commercially available?

Response from Shareregistrars - We can't see your name on the shareholders list. If you hold shares through a broker, you need to ask them to vote on your behalf.

Hi All, I was looking to vote next week and note I haven't received papers. I've had this issue previously with SCIR, and my broker advised it was because the BOD designated it a 'shareholders meeting' rather than an AGM or EGM.

No problem, the circular says you can vote online via shareregistrars. Except you need an account setup, and you can't do that online yourself - you have to contact them to request an account be set up.

Are the BOD making this deliberately hard, especially with the publication over Christmas?

Here's hoping...

https://x.com/CorePath/status/1740770949375381622?s=20

Indeed. But the BOD bought Greenan after expensive due diligence, so either that DD was rubbish, or it's a lie. You could sell EAG, and still have the £1.5m loan on the books.

Greenan is EBITDA positive. TR stated that profits would be kept in EAG for reinvestment. So, according to the model, EAG should be self-funding.

I think the £9-10m refers to having the Bio Fertiliser add-on, which costs £2.5m to build. But having stated this to be a profitable solution, that the investments are suitable for bank loans, and received $2.5m from Ruvuma, why hasn't this investment been made if the ROI is so good? It just doesn't add up.

Not helpful.

There's another angle to this, not just cash outlay. The swapping of shares ties the interest of the two companies together. Conduit has 20plus million shares in Ciz. That's potentially worth quite a lot.

Https://www.malcysblog.com/2023/12/oil-price-kistos-reabold-chariot-and-finally/