Member Info for Investor81

Easiest way and only way to protect your capital is to stick it in the bank and earn 0.50%.

Shorter appear to have had their day today. Company is doing well, supporting the locals and can hopefully manage production and output through Brazil until ONP reopens.

https://twitter.com/mgrahamwood/status/1443576688894308353?s=19

Seems bizzare that someone who is apparently exiting their position bashes the company daily.

The definition of deadline is 'the latest time or date by which something should be completed.'

The RNS clearly states they intend to complete by 30 September but there could be delays.

What deadline?

RNS clearly states 'Tower and Beluga intend to complete the transaction by 30th September 2021, subject to any delays in completing the conditions precedent.'

Strange RNS to stop the rise.

You could say constant moaning by some no matter what news is released (not just on this share).

@canapa it appears that the duplicates is an LSE site wide issue. I had a look at some other shares and duplicates showing up there too.

If there was no PSC no doubt they would be paying royalties, taxes and other costs just like any other oil company would. Seems like a lot of misinformation and negativity being spread.

Hi CTA.

In your post just before 10am you have excluded loan repayments. You also used $2.9m for production cost and admin. Production cost will be around $3m (181 days * 2,730 bopd * $5.90 alone so you need to add admin on as extra.

Factor in the loan repayments and admin costs in your calculation and surely it explains the $2.5m you refer to.

As production increases and capex costs fall the Cash balance will start increasing. The fact the company is fully funding drilling from own operating cash speaks volumes. How many companies raise to do this and investors complain? Seems like you can't win either way.

@Lords

Cash collected 8.2m
Less Cash capex 3m
Less Cash production costs 3m
Loan repayments 1m (2.1m was due in on year so used 50% as est)
Admin and salary 1m est

Also factor in trade receivables.

The last set of financial statements said 'Accrued Income relates to two months Oil & Gas invoices for the Abu Sennan producing assets in Egypt under the receivable terms of the
agreement with EGPC.'

I think accrued income was $2.5m at year end. Based on increase production and higher oil price it should be around $4-4.5m for May and June 2021 I would think.

https://twitter.com/100kto1m/status/1419552477012271105?s=19

Lot trying to drive price down further. Regards funding you can't use interim to base ongoing expenses for example interims had 418k in relisting costs. Also since then lots of warrants exercised and 1m convertible loan agreed at a conversion price of 6p. This is bargain basement territory imo. Hoping some price triggering and sentiment changing news drops soon.

Woodfromthetrees on what basis are you coming to that conclusion? Can you share your calculations?

'The current cash position as at 21 June 2021 is £289k.'

Where is the other 22m?

Shame the MM didn't fully reverse the drop from the other day.

Looks like cash was received quickly too. Brazilian route lowers the risk profile of the investment too imo.

930,000 sold. Proceed of around 1.3m at 1.42/1.43.