Member Info for highlandmatt

Chairman's statement - we need to issue shares to make investments.

So, let's say 500bopd x 70euros = 35k euro per day, = 12+m euro or £10m revenue per annum.

A very basic valuation of 2x revenue = £20m mcap.

Larry has indicated good margins, so success case should be profitable for the company and shareholders.

24000 bopd unlikely. Boepd is possible. But that is thermal equivalent, not value equivalent.

Do we really think that the facilities and pipeline can be built that quick?

Any director buying now with knowledge of positive news re Montara, would be guilty of insider trading?

Well, I am surprised.

AEX were stung for $2m for 50% and a total value of $40m.

SCIR $150k for 25% and a total value of up to $16m.

Is it the new business friendly government? Or was the AEX carry defined as a cash credit, whereas SCIR contingent payments are classed as revenue, not Capital Gain?

Either way, it is good news, and if the deal structure as avoided a tax liability /cash outlay, then the BOD has done well.

I suspect there is. If Tanz govt let SCIR off, AEX will want a refund. For consistency, Tanz govt must bill SCIR as well.SCIR hasn't got the readies.

Yeah, I noticed that. Posting incessantly for 3 days, complaining about the lack of data and testing, and as soon as the placing is announced, nothing. Surely just a coincidence though, right? 😉

HMS - you are confusing something that is in the ground, for its value when out of the ground. If it was currently flowing, you would have a point, but there is a reason production is only 50bopd currently. If they could flow it quicker, they would. It's like having a trust fund that you can't touch, and a miniscule allowance. There might be millions there, but it's value to you at the moment is low. Once something unlocks it, then you can value it at wholesale market prices.

See some large trades from yesterday coming through. Look like sells and the placing shares being flipped. Has anyone been counting the large sells? I'm figuring there will be a few days of churn yet.

Thanks GreyPanther. Something to keep an eye on and aspire to. Although doesn't UJ have other assets as well?

I think you mean $50 (no million) x 3.85m barrels? That's only £150m of revenue, over a number of years. However, look at Contingent Resources. Contingent on what? If this drill moves some of that to Reserves, that is an increase in value. 500bopd would be decent revenue for a small company. About £5m profit per annum. That would support mcap of £30m, or 3 times currently. Anyone got any similar companies as a value benchmark?

Any chance it could be old small print? I.e. from before Mou2?

Reckon that sums up the situation for most of us LTHs.

Balance sheet looks a lot stronger now.

Slightly sub 12p was available first thing this morning. I think you might be missing out.

I've messaged Lonny directly on twitter. I'm not going to share the wording, but I've indicated that shareholders are angry that a CPR was indicated as next, but we got a heavily discounted placing, and now feel shafted. I've requested communication of reasons and plan.

Hindsight is a wonderful thing. For those with a long term view, with the information available, holding was a better course of action than being scared in to selling too cheap. The info from the company was that funding for testing had been secured by a previous raise, and a CPR and prospectus were due to land any time. I for one was expecting the CPR first, showing a large resource increase, and the SP would have then have gone up not down.

Thank goodness for all the information and research, enabling us LTHs to hold with confidence.

Just looking at the settlement prices, the Ask is getting hit constantly, so buys and SP will rise.

100k clips being sold at 12p. The churn is underway.