Member Info for Janiax

Wouldn't mind if it stays below 12p until tomorrow when I get more funds lined up ??
Although probably should stick to diversifying...

Well I put a bit in on Friday, and just topped up another £3.5 from some HUR shares which I'm hoping I have time to get back too :)

Had to move the cash around as still a couple days till payday, and doubt it will be in this range by Wednesday

I was having trouble purchasing as well, but just set a fill or kill at 9p and got £4.4K
Hope it's worth it :)

I'm also slightly wondering how inebriated Senseman is... was expecting an update from him pretty quickly....

Unless they all had to sign an NDA and can't say anything until the markets close.....

ROFL

Random guess here, but I can see this having a 10-20% drop whatever happens in the AGM, just because that's the way Aim works.

I'm not gambling on it though and will continue to hold, as this should pick up and rise strongly without the bonds hanging over us.

Plenty of cash and still producing.
Hoping to have some future plans asap though. However I feel we won't be told until the bonds are repaid in July.

Good luck all

So where do people see the opening in the morning?
I was pleasantly surprised when it went through £1.20 at speed early, but disappointed after it didn't hold as the day went by.

With potential information coming shortly I could see this open at 10-20% up or down, with the selling news tendency of aim..

My prediction is that however it opens it will end the day the other way round... :)

Full disclosure, I released some profit here on Wednesday last week and hopped into 4D as thought that the results they had on cancer treatment were great... that turned out to be a bad move with their sp going back down 30% after a spike ...

I'm still in here with 150k shares and should have been more if I hadn't tried trading this and others over the last year (checked my account and my original purchase was 180k for £2.5k ... but sold for £2.8k... I never learn)

Anyway, despite my shortcomings remember this:

Producing 9k Barrels a day
That's $1m or £800k ish
That's £292m turnover a year, for a company with a market cap of less than that... this is Insane.

Debt free
A new agreement which goes until the well stops producing, which suggests they expect production to continue a while.
Future plans being developed
Free cash to pay for future wells.
A second well which may reopen with oil over $100 atm

Yes we do have only one operating well, which is a risk, but we have no need for funding anymore as making good profit now.

This share should be back to the pre bond holder debacle and at 40p within a few months

DYOR

Long and strong

Where can we watch / listen to the interview?

@hereshopin

I did decide to hop in yesterday with some profit from HUR and wish I had stayed there instead... but hindsight and all...

I'm confident I'll get my 65p and done back as planning to stay in for a while after reading up a bit.

Looks like LBPS (US share) is going strong after we closed so we should open up higher tomorrow

Value seems odd on that big trade.
I'm seeing 2.36m shares @ 0.57 but total only £1m
My calculations would have that at over £1.3m? Unless I'm just not seeing or they don't show the .3 after the value hits £1m+
Either way, I hope it's a chunky buy.
I used some HUR profit to come by for the party and got in mid 60's :)

If this could just stay slow and steady below 10p until Friday that would be great :)

After that a nice RNS with uplift news and debt free announcement, along with plans for new wells would be very welcome :) :)

Hoping it will wait until next week so I can utilise my payday on Friday and get another top up below 10p

I want more than 191k shares in this.

Just some quick estimates of this year's production.
Disclaimer: These are ESTIMATED.
This is based on production reducing by 5% each uplift. And an average oil price of $100 /bbl all year.
I have used 53days per uplift, but this is likely to be longer if the quantity is not there to fill the tanker.

Last uplift 25th Jan, 530k bbl (10k/day), $81.4/bbl $43m

Estimated uplifts:
19th Mar; 9.2k bbl/day, 490k uplifted, $49m revenue
11th May; 8.8k bbl/day, 466k sold, $46.5m
3rd Jul; 8.3k, 442k, $44.2m
25th Aug; 7.9k, 420k, $42m
17th Oct; 7.5k, 400k, $40m
9th Dec; 7.2k, 380k, $38m

This is a VERY ROUGH ESTIMATE
And relies on no well issues. But also doesn't consider any other future plans.

This is a total of $260m which could be generated from the current well. In this year. Which would be mostly free cash to use for future operations.

DYOR

Long and strong everyone

@Bigbear there's only ever a lifting every 2 months, so no. DYOR before trying to spread misinformation.

@Bobat, Maris has always put a downer on the RNS's by stating the net free cash can't all be used for bonds.

This RNS actually looks very positive.

Well continues to flow at over 9,200 barrels a day, even into March, with no significant increase in water cut.
Will have over 500,000 barrels at next uplift which is likely to be around $50m or more new cash.
This will fully cover debt with ease.

The word Future is in the RNS ... OMG ... they may actually have some news on other operations or extensions soon...

April will show last year's report which will show a huge revenue for 2021 and massive debt reduction.

So much upside on its way here.

Reposting this as we start the new week to remind a lot of people what we have here. (And to move down the weekend random chat...)

Morning all. Just remember that no news means the well is still pumping :)

Also, for those that are new here and felling bad about the drop yesterday, this is from the January RNS:

Trading Update

· Operations

o Production for the final three months of 2021 averaged 10,000 bopd, within guidance

o Production and oil sales for the year ended 31 December 2021:

§ Production: 3.7 MMbbls (average of 10,267 bopd)

§ Oil sales: 3.6 MMbbls across seven cargoes

o Aoka Mizu FPSO uptime of 99% during 2021

· Key financials for the year ended 31 December 2021:

o Revenue: $239 million (2020: $180 million)

o Average realised oil price: $67/bbl (2020: $35/bbl)

o Year-end total debt: $78.5 million following repurchase of $151.5 million of outstanding Convertible Bonds for cancellation during H2 2021

o Year-end net free cash(1): $50 million

o Year-end net debt(2): $28.5 million

1. Unrestricted cash and cash equivalents, plus current financial trade and other receivables, current oil price derivatives, less current financial trade and other payables.

2. Net free cash less the par value of the outstanding Convertible Bonds (being the total remaining amount repayable on maturity of the Bond in July 2022)

Since then a further uplift has increased net free cash to $78m and debt will be fully covered with the next uplift.

If oil averages $100 this year (could easily be more) and production slows to 3m barrels (nearly 20% less) we would still have revenue of $300m with the vast majority being free cash as debt is non existent soon.

If there's any progress with new wells, or reopening the well which was previously closed (I need to remind myself why, but think this may be possible with higher oil prices now). These kind of updates would see a much stronger future and a huge SP re-rate.

But even on one well we could see more cash in the bank here than the market cap in a bit too distant future.

Long and strong guys and gals.

Morning all. Just remember that no news means the well is still pumping :)

Also, for those that are new here and felling bad about the drop yesterday, this is from the January RNS:

Trading Update

· Operations

o Production for the final three months of 2021 averaged 10,000 bopd, within guidance

o Production and oil sales for the year ended 31 December 2021:

§ Production: 3.7 MMbbls (average of 10,267 bopd)

§ Oil sales: 3.6 MMbbls across seven cargoes

o Aoka Mizu FPSO uptime of 99% during 2021

· Key financials for the year ended 31 December 2021:

o Revenue: $239 million (2020: $180 million)

o Average realised oil price: $67/bbl (2020: $35/bbl)

o Year-end total debt: $78.5 million following repurchase of $151.5 million of outstanding Convertible Bonds for cancellation during H2 2021

o Year-end net free cash(1): $50 million

o Year-end net debt(2): $28.5 million



1. Unrestricted cash and cash equivalents, plus current financial trade and other receivables, current oil price derivatives, less current financial trade and other payables.

2. Net free cash less the par value of the outstanding Convertible Bonds (being the total remaining amount repayable on maturity of the Bond in July 2022)

Since then a further uplift has increased net free cash to $78m and debt will be fully covered with the next uplift.

If oil averages $100 this year (could easily be more) and production slows to 3m barrels (nearly 20% less) we would still have revenue of $300m with the vast majority being free cash as debt is non existent soon.

If there's any progress with new wells, or reopening the well which was previously closed (I need to remind myself why, but think this may be possible with higher oil prices now). These kind of updates would see a much stronger future and a huge SP re-rate.

But even on one well we could see more cash in the bank here than the market cap in a bit too distant future.

Long and strong guys and gals.

Don't fret Wolf, 12p will be back and surpassed in the next couple months.

@Rajbury, I'm sure you timed it perfectly... Well done. You might want to switch back before the next uplift though.

Yesterday we were up 25% , today if we finish at -15% we still had a net gain (around 8.7%)

Things never go up straight, and if this had 2 days at 4% it would be the same but with a bi better head feeling.

Long and strong guys and gals.

That article is skirting around some key facts, and seems more likely to make people think about selling so the author can get in for cheaper.

At $70 a barrel HUR should be worth more than today's market cap.
The rise in oil is helping the SP, but fundamentally the clearing of the debt and building profit has been happening for a while and the company is on the road to recover from the BOD trying to sell to the bond holders.

This will be over 15p after the next uplifting unless Maris puts a substantial downer on the RNS

@0hmarko

Yesterday you said you sold out at 7.5 and said "see you never"

Guessing your just a liar.

There's always ups and downs during a rerate, and this will start going up again then drop them up...

I'm here till 15p I hope, although I must say I was very tempted to take a quote of 8.5 this morning and kinda regret not, but that's a short term thought.

I think a close of above 7p is strong.
Considering that we opened under 6p.

The spike over 8 today was day traders, and not surprised to see it drop back from there short term.

7-7.2p today, 7.5p tomorrow, maybe steady gains to hold around 8p next week.
I see slower steady movement bring better as we approach 9-10p before the next uplift at the end of March.

All based on no issues with the current well, and no big news on more drilling.