Member Info for Jamesiecakes

The 2017 results show revenue at GBP 0.17m or around $0.23m. Maybe I am clutching a bit at Straws here, however if this is a net profit interest then I understand that Xtr revenue would be booked as Income less opex e.g. $320k - 100k ish which roughly Jives with the reported number. What's also interesting is that in Q4 17 the RNS spoke about income (revenue) e.g. would include Revenue accruals, while Q1 is about Sales e.g. cash accounting. From the information I can't even get this close to jiving however I don't think comparing the headline figures from Q4 release to the Q1 release is an apples with applies comparison. 1 thing is for sure there needs to be an explanation, which hopefully will come at the AGM which hopefully I can attend.

I hope the irony of using a misleading number to make a point about a misleading RNS was intended ;-). Well if you werent talking about Q4 im even more confused about your numbers.....

Hi Teacups Unless I am missing something CB has never said that the company (xtr) made a net income of 800k in Q4 2017, just that this was explorator income and that xtr share of this was 320k (40%) with roughly 100k costs to xtr so roughly 220k profit for the Q4 (which we now know is rubbish as well, per Q1 update). This is from the jan 25th release, let me know if you are refering to simething else? Cheers James

I undestood it to be 80-85% of the open pit e.g. 7 years at 35k ounces pa which would leave around 1m ounces to be mined in a underground mine with Xtract have exclusive access to this (why CB wants the mine built to Xtract specification) My understanding could of course be wrong.....

I think the RNS reads quite well on China, and am hoping that the 6 drilling Rigs currently being deployed have been deployed for a good chunk of the year (weather permitting of course) if so i expect that we may see between 30k-40k meters drilled for Q1 (Q2 17 had around 50k meters, 7 drilling rigs were utilized but from what i understand 6 months of workable weather). This would be quite a jump on Q1 2017, and the results should therefore show good progession on the top and bottom line. The india section is quite a concern, although i am sure we all factored in the loss of the ONGC news it�s disappointing to read we are owed approx $2M USD by Essar, and more so that we owe monies to our contractors. It wouldnt shock me if this was brought to our attention as there is a pending claim against us. Cheers James

Looks like Year ends are now scheduled to be released on the 28/06/2018 with the AGM on the 31st of July, not sure how much these dates can be trusted as this is the 3rd time they have been changed.... Lets hope there is something positive to report!

Debs 2017 full year results to be released 27/04 (according to website) which would normally include a update on how the current year is going. So not to long to wait (and there could of course be news before this, G3E, Essar, ONGC etc). Fingers crossed Cheers James

Did you see Trions post on G3E yesterday?

Wow they have even updated the IR calendar....... Results scheduled for april 27 and AGM for May 30.

Im actually presently surprised by the update (not the usual feeling i have when reading these ops updates) and am looking forward to the final results with the expectation of a small loss but with hope of break-even to a small profit (just a feeling so will need to spend some time on the numbers).

Be interesting to see if we get an ops update tomorrow (still no update to the IR calender on the website). Also be good to get an update on ONGC and where we stand with that contract.

Think thats the 2017 calender.

Has anyone manged to find the AGM presentation on the website?

There isnt really a change from yesterday price, still 1.9p to sell and 2.0p to buy..... Only thing thats changed is that there is uncertainty on The ONGC contract, although i dont belive this contract was ever priced in (as there wasnt confirmation that work had started) and that there is a small bit of evidence that China is starting to pick up. I am disapointed with the potential loss of contract in India, as i imagine this contract would have covered a good chunk of the fixed cost there so future contracts would have started to benefit the bottom line but until there is further news released i guess its just a case of wiaiting to see what the reason is, plus side as i dont beleive work started it cant be a performance issue. Hoping its potnetially just Mr Grewal playing hard ball and showing ONGC he isnt afraid to lose the contract so they cant walk all over GDL. We shall see Happy Xmas and lets hope for a good new year for greka drilling!!!! James

Not really sure the price rise is anything to get excited about, just an increase in the ask (bid has remained the same) Not great news that the ONGC contract might be cancelled, will be interesting to see how this plays out but india is potentially looking to be more trouble than its worth with 2 out of 3 contracts cancelled and the other still waiting final payment for! On a more positive note good to hear one of the contracts awarded in china is already complete and another 2 have been signed, although not massive they all add up and more importantly things seem to be oicking up in china.

I agree the IPO might not come off, but the RBL seems a good bet. The reserves have been independently confirmed, obviously a bank will do there own homework, but I can't see why this would be an issue with the resource size and the desire of the Chinese government to move to gas.

Slowly slowly catchy monkey!! Things starting to build although it seems the market is waiting for mobilisation confirmation before the price budges. Gives Mr Chow time to add a few more though ;-) Cheers James

thanks for the feedback, sorry I couldn't make it! Interesting to hear that GDG are looing to raise close to $400MM that leaves a sizeable chunk after debt repayment to fund activities....

Good to hear, was there anything mentioned about GDG contracts?

Hi MrChow Any information from todays AGM that you would be happy to pass on would be greatly appreciated, unfortunately (fortunately) I only just returned to the office after 2 weeks off and couldn't get the time off to attend today. Cheers James