Member Info for itsawrap

imho we can expect an update on Monday as that is the point at which the 1 week set up and 6 weeks testing target expires

"On Monday 24 May 2021....The equipment will be rigged-up during the first week of operations, after which completion activities including perforation and well treatment operations will commence. The well test will follow these operations. Overall, the duration of the West Newton B-1Z completion and testing operations are expected to take approximately six weeks."

quoted .5284 ? perhaps you should change your broker

unfortunately sp now firmly below placing price of 10 months ago, that says a lot about what (most) investors think of DB and his endless promises and inability to hit target dates

butchers, none taken, I am always happy to have my "facts" or opinions corrected as it can improve my investment decisions.

"They can’t currently use that cash because they don’t know what they will need to resolve the dispute."
no dividend, no share buyback & no acquisitions, these facts support this statement imho. Also, as I understand it, the £20m provision is the replacement cost for the disputed supplies, however the disputed contract is much larger. My guess is the sp is under huge pressure as the DHSC may be angling for a full cash refund and cancellation of the outstanding invoices, the provision does NOT cover this scenario, however the caveat in the annual accounts does allude to it. As said countless times, the sp will continue to struggle until the dispute is resolved or until GM spends half his bonus on shares :)

"You have lost nothing until you sell"
...unrealised losses are still losses, to think otherwise is a recipe for a financial kicking

I expect the dispute to drag on for months, DHSC wont be in any hurry to settle, for me the obvious solution is for ncyt to sue for the unpaid invoices (and compromise in a court of law if necessary). Of course this depends entirely on how truthful GM was in his RNS, "the Company has taken legal advice and believes it has strong grounds to assert its contractual rights.". It's time to play hard-ball with the DHSC.

last year the H1 report was released in mid September, if DB is smart he will issue an H1 trading update late July to confirm revenue to date from Wressle and hopefully confirm the ps has been successful, alas I won't hold my breathe

thanks persi, good to know :)

"Special resolution - To authorise the directors to allot equity securities for cash"
is ujo preparing for a rights issue or have I misunderstood the significance of the special resolution?

" The Board’s best estimate of the cost to replace is up to a maximum of £19.8m..." - what I find interesting is the potential disconnect between the provision and the worst case scenario alluded to in the RNS, this may explain why the sp is struggling.

"If the resolution of the claim is materially different from the Board’s determination of replacing the product, the
financial statements with regard to revenue and the provision for product warranty could be significantly impacted."

Q. If there is a possibility that the cost to nyct could be "MATERIALLY DIFFERENT" i.e., greater than the 2020 provision, why haven't they put a number on it?

www.**********.co.uk/articles/novacyt-hails-fy20-as-a-year-of-transformation-as-it-swings-to-profit--9973d43/

front page news :)

I'm surprised it's taking so long to resolve the dispute, perhaps the DHSC is trying to wear down the company, anyway, good results plus H1 trading update due in about 3 weeks, I'm expecting a steady up tick to circa £5/£6 within 3 months

soulac, note date and time of the 2m, appears to be a BUY at midday yesterday

afraid not joker, my comedy routine was laughable! seriously though £20 would value ncyt at £1.4bn, not beyond the realm of possibility within 13 months, feel free to take the p*** in July 2022 if I'm wrong :)

we all want porky's £54 to be right and it may not be as far fetched as some think (obviously it depends on the time-frame too), put it this way, if the sp was currently trading in the £12 to £14 range, people would be saying - Why isnt it £20? - and £54 is "only" 170% over a £20 sp. I think £20 is achievable within 13 months, ie after the 2021 full year results and the 2022 H1 results, after that, who knows???

EOG owns 30% of wressle so 150bpd not 200bpd. no guarantee it will flow at 500bpd, we should know for sure by mid July, current estimates circa 100bpd based on 1 tanker every 2 days

just wondering what peoples thoughts are regarding a dividend for 2020? I wouldn't be surprised to see circa 15p, of course that may be optimistic considering the DHSC dispute

stavros, it's been a long wait since end of Jan, I'm hoping for the 500bpd by early or mid July, current sp well worth a punt

crypto investors love to shout about their wins but stay strangely quiet about their losses