The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Excellent, paves the way for dividends, coupled with stronger retained profits arising from trading. I like the way loose ends are being tied. Just need Majid to release updates on decent wells being brought online.
Https://www.ft.com/content/05d3a7b5-b9c9-43ec-ac53-f8b7b51cbbe2
Agree would have been done time a go. However auditor release are never instantaneous or next day. They will take time and have a final partner or more likely a secondery partner review and sign off. They will release their final draft report to I3E, who may want tweeks to wording or auditors may want tweeks etc. Protocols and procedures wont allow next day release imo.
100% agree Nomadic. Think BoD have got it spot on with plans to develop with respsol sinopec Tain development. Wouldn't mind if it was sold off to them. Govt strategy on NS is a big clanger for a lot of oilers.
Lol, dont take my typo wrong way too :)))))
Very shirty response Tony, was meant to be a dig at you at all. The whole of process of wording and rewording and review by partners in the audit firm will take place after what was released and I dont think they are just sitting around doing nothing. PKF is sizeable firm. Sometimes better not to take things personal :) auditors will always review and take material aspects with a fresh pair of eyes.
Doesn't happen next day Tony. Very plausible what Joe posted, however I ruled that out in my mind due to the fact that I3E are generating significant cashflow and from an Auditor perspective would have been covered for the ensuing 12 month period, unless the rationale was that there was some inherrent uncertainty. Of course the funding clears the pathway too at the same time, if one was to look at payment of impending loan liabilities and financial headroom. I was more thinking there could be a delay on obtaining independent expert view on aspects of reserves, which I think have been asessed by Majid. Hence an independent view and a change in cashflow forecasting basis too. Post balance sheet events have certainly been covered now and will be incorporated into notes to the accounts. But who knows. The delay is not good though irrespective of circumstances and I'm a bit miffed at how we dont stick to time frames. Reflects poorly on the company. Majid and the cfo need to get a grip on the management structure and reporting procedures. It's very amateur at the moment imo.
Yes agree Tony. Serenity likely to financed via UK markets. Interestingly the loan arrangement is over a short term basis. To me indicates strong cashflow catalyst. Looking forward to substantial news on this front. In addition I believe that delay in Audit could be due to the step change in growth over the last audited accounts coupled with a change in some major reportin accounting policy more in keeping with Canadian peers would also mean restating comparative figures (that's my guess) let's see.
Saudi Arabia’s energy minister said short sellers — those betting that prices will fall — should “watch out” for pain.
Oh dear and US oil inventories dwindling. Good time to buy me thinks.
Up 5% today.
https://oilprice.com/Energy/Crude-Oil/Russia-Cuts-More-Oil-Production-Than-Anticipated.html
Still a great top up opp, given the update and without doubt the commodity cycle about to break out from recent lows.
Oil up over 7% now. A lot of investment houses are now going long on oil & gas sector. Especially gas. Here's to a good few months ahead.
Don't hold your breath. Timeliness of updates seems to be a botheration to management and they dont seem to be bothered. No doubts big II's look at this kind of stuff as well as obviously the numbers. It reflects on how well a company is run and ultimately the management. Called shooting yourself in the foot in my book.
Thanks for the suggestion Tony, not got much time lately. Hence very few posts. Will do if I can time permitting.
Imo, they could be more active in updating on the larger value acreative spuds. It's getting played as, it's fairly predictable with no surprise RNS'.
K3VMC. Got my divis via IG earlier today. A few months i gave them a piece of my mind about divi delays (I3E)
Now a good time to get some PR in and keep the momentum. Imo the floor seems to be set at around 18-19p. Barring a major disaster we can only go up. BoD PR will do wonders.
Not happy. Dont know whats going on between MBU and Bens creek but looks rather cosy.
We need to exceed expected production numbers. BoD need to embark on a strategy of mixing the 'low hanging fruits' with those that are higher rewarding. If you dont start doing it now, you never will. Cashflow atm is decent so better to execute sooner rather than later. Being risk averse is a folly.