The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
She’s not a good cook, pretty crap at cleaning and non existent in the bedroom dept, Sorry I’m not selling this very well am I.
What future, companies must be looking at EOG and thinking they can acquire their assets and the whole company on the cheap given its lowly price.
With todays mcap of £11m, you get £4m in cash 320bpd, gas to come and a load of what could be very valuable assets in the near future.
Tacoma,
I don’t get it, EOG must have £4m in cash as I write.
They have onshore production of c320bopd.
They must be earning close to $1m in revenue every month, from Wressle and other wells.
25% of serenity and their licenses in Ireland and Morocco are according to the market worthless.
I will sell the wife if this goes to 1p, could maybe get another 1000 shares.
Eh, breakeven?, I was thinking they are sitting on £5m in cash, with 1m loan to return to UJO.
300bopd for the last year c£7m revenue, maybe £2m in cash, after taxes etc, some of which they may get back, they also have the surplus c£2m cash from the serenity drill.
The distance between discovery and appraisal was 3.5k, I can’t interpret given what the experts in the field know against my limited knowledge whether the step out was too far or not.
I’m guessing however that their knowledge along with the serenity data far outweighs anyone on these boards at that time.
it's this pathetic uk government that's dragging the prices down, the oil price although relevant is an excuse, the price was lower than this recently. lots of the bigger players have cashed out and are sitting back as they wait to see how badly this govt crashes the economy.
This is calculated as:
Tax Rate Type of Relief Relief Rate Amount of relief
(based on £1 million expenditure)
Energy Profits Levy 25% First year allowance 100%. £250,000
Energy Profits Levy 25% Investment allowance 80%. £200,000
Additional Relief 45% £450,000
Existing Relief 46.25% £462,500
Total Relief 91.25%. £912,500
Or BFG investments could buy back given EOG,s lowly price and assets against Mcap.
Why sell at the bottom.
Serenity can still be a company maker for small mcap EOG who own 25%, the oil in the Eastern play is still there, they have £5m in cash, and will only pay 25% of costs in any future developments, all the while their coffers are growing daily from wressle oil sales.
In fact I just bought some, EOG is undervalued imo.
Who knows Tony, with £2m left from Serenity, up to £3m in cash from wressle etc and £1m UJO loan, they have c£6m in cash with £1m loan to pay back.
Assets 30% of wressle, Uk licenses,25% of serenity and further licenses in Ireland and Morocco, market valuation for this lot currently c£7m. 30% of wressle has to cover this alone.
Im down several k and won’t be selling at this level.
I raise you
For One Night Only
For One Night Only https://g.co/kgs/tqR2tA
No one posting here has done any corporate deals would be my guess, like most things a little knowledge doesn’t make anyone an expert.
Let’s wait and see how it pans out, in the fullness of time we will all know.
What we do know is Shell is the buyer, RBD have more assets that may interest them and the SP imo is still way below valuation, a takeover or buyout could be an option if they like what they see regarding WN, everything is still to play for at this price, with plenty upside for Reabold.
Excellent success rate for high impact wells this year, let’s hope it’s a good indicator for Serenity.
The much higher success rate at high-impact wells drilled so far this year is a good signal for global supply at a time when oil and gas prices are high, and trade has been upended following the Russian invasion of Ukraine and the subsequent sanctions and embargoes on Russian oil.
So far this year, E&P firms have discovered over 1.7 billion barrels of oil equivalent (boe) at high-impact wells, nearly quadruple the 450 million boe discovered for the whole of 2021, Rystad Energy research showed this week.
Per Rystad Energy’s methodology, high-impact wells are classified through a combination of factors, including the size of the prospect, whether they would unlock new hydrocarbon resources in frontier areas or emerging basins, and whether they are “focus areas” for the operator.
So far into 2022, the success rate at such wells has stood at 47%
EOG is starting to move up a bit, if you don’t want to lose out grab yourself a small piece of the cake, in the mean time what’s peoples thoughts on UJO buying a larger percentage of Wressle, it must be in their thoughts if EOG and I3 do the business with this appraisal well, EOG will need cash to move this forward and pay for their 25%., do they sell all 30% of wressle, do they keep 10/20%, maybe just 9% so no one partner has overall control, maybe they just borrow the cash.