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Afternoon all,
What a week.
I’m aware of all the reasons to be cheerful, of which there are many and the reason I’m heavily invested in here.
However, I’m struggling to see the medium/long term negatives here? Geopolitical issues and non-payment were the major contributors in recent times, but both have heavily subsided.
Are people simple selling because they’re hopeful of getting back in later? Are people wary of Genl’s history?
How much lower can this go this go? What else is scaring people off?
Interested to hear the negatives on this one.
JFT - AIM market will take advantage of the weak and impatient.
G is a remarkable company and I feel extremely confident piling my money in here. Every time it dips below 2.35 I’m adding to the pot (with the intention of trading 20%), however, every time I read the company updates I don’t want to sell a single share. A strong hold for me.
The RNS yesterday was extraordinary – net cash position (ahead of time), increased production (that will continually improve), more wells being drilled, material free cash flow (increasing each month), BB gas and oil development plan progressing, and an upcoming announcement of a material increase in proven and probable reserves (this is going to significant after the recent Pesh 6 drill).
My expectations, a slow rise up to the end of the year and a big jump when they announce the reserve upgrade. It will be interesting to see if the rise from 10th September will continue – I think the trend has changed.
Someone mentioned yesterday that we should progress the gas quickly. Why? Keep the cash cow rolling and maximize the oil sales (especially at current prices), let’s not get distracted. The gas will come but we need a good partner first…we also don’t want to look desperate and G management are doing an excellent job of holding their cards close to their chest.
G’s current financial and operational position is great but can you imagine how good it will look in 6 or 12 months. I won’t throw out a price prediction but it will be a hell of lot higher than today. Buy and hold – one of the safest bets around.
Just want to say thanks to the regular posters on this Board – it’s great to read such insightful, well-balanced, well-researched and humorous posts. Cheers all.
Patience, all will be fine. Games being played.
I sold a big chunk of GKP at c.2.40 in June/July and moved it in here thinking it was GENL’s time to move up. Wrong.
Having said that, our fundamentals are so good (as detailed by Lem and Hawkey recently) that I pumped in another 80k today. There will be frustrating patches of consolidation but the upward trend will continue so I’m not concerned in the slightest by today’s activities.
Now I just need BLVN’s drills to deliver so I can move even more funds in here. Roll on tomorrow.
Ah yes, good old Le Com, what a character. There was a solid crowd of Blvn investors that would meet up after Kevin Hart’s recycled presentations in London. I guess everyone got bored and sold up.
I should clarify, IM6 has two drill 'targets'. Interesting to see if they provide an update after the first target or after IM6 is completed in entirety. I'll hold now. Friday's late trading shows that people are still watching this stock.
Any of the old crowd from c.2010 still around?
They are but 2 drills on IM6 first. First well (appraisal) should almost be complete. I expect them to provide the results of each well as we go and then final overall results at the end.
I know, can’t believe I managed to get in at 37p this close to the first drill result. Sold some GENL and added it here for the rest of the drill period. This share used to have a huge following. Hopefully some decent press will encourage investors to come back. Decent drill results could quite easily end with a T/O and far north of where we are now.
Let’s hope so. Dumped £50k in today. Read this article again this morning and everything seems to suggest that this share will rise again. I’ll hold and buy a few more if there are any nervous tree shakes. Good luck all. http://www.valuethemarkets.com/index.php/2018/06/05/bowleven-poised-breakout-success-etinde-appraisal-wells-blvn/
Hi all,
I note in the spud RNS on the 22nd May that the, "Company intends to announce the final well results after the end of the drilling and testing operations". Later on in the RNS, they state that, "we look forward to providing an update on IM6 results over the coming weeks".
Looking at the latter wording and given that news could come any day now on an "appraisal well", which will probably significantly increase our asset base (IM7 is the drill with a higher element of risk), I find it very surprising that the s/p hasn’t moved further recently. I’m thinking of dumping some of my GENL/GKP fund into this as it appears a ridiculous price given the impending (and highly probably) good news.
Am I missing something here? Thanks in advance.
Name’s Rodd Rozel, long term interest in GKP, bought and sold the shares over time. Give it a rest Highlander, who made you the daddy of these boards? No constructive arguments to my post, simply upset that I didn’t slate the board - ridiculous. I’m off.
Chill out Highlander. I used to post as Guernsey but it’s been so long since I posted I can’t remember those log-in details. I was hopeful that I could start some debate on the board but all I’ve had in response to my post’s yesterday morning are “corrupt Board” and those thinking I’m Ferrier in disguise. Facts are that this company is very different to the one 2 years ago. The share price has doubled in a short period. Is this a ramp or a justified long term rise? I stated my thoughts yesterday but keen to hear from others with some decent analysis.
Haha, no. I don't think Nicky Minaj ever requested poster opinions to create a balanced view of GKP. 2.10...nice (but a long way to go). Disclaimer - in no way does this constitute a "fill yer boots" promotion of the stock ;)
I wouldn't be too concerned about the debt. It's a low amount and as long as it's repaid gradually over time (which it is), there's no issue. It doesn't have a material impact on the company. It's better to have some debt rather than go too low on cash reserves. Take a look on Genel website - think the details date back to 20 August 2017. No idea why ours is taking longer - sometimes it's just the way things are. Maybe the Genel repayment was easier in terms of non-cash related benefits. Maybe we're actually looking for an actual cash repayment rather than benefits in lieu over time. I'm not concerned and the Board seem sure it'll be tied up before the AGM (expect late June/July). I'm excited for the next 2 months. I think all previous investors in GKP are a little cautious, to say the least. The difference this time is that the debt has been cleared, payments are made regularly, the region is more stable and oil prices are going up. Very different position. However, I'd advise not to go in too big trying to regain all the losses quickly. I believe in the company and its future but there are always things that can go wrong. For the moment though, it's looking a lot better. Long term investment for me.
I know people have been stung previously and are right to feel aggrieved but, in my opinion, buying back in and lowering your average will be rewarded over time. The material facts are, constant cash flow + solid balance sheet + low debt + development progression + increased geo-political stability. For me, this is a medium-long term investment. Don�t think about a potential takeover, that is an unknown. Lots of people hoped/prayed for this pre-restructure and got screwed. You�ll see posters talking about �agreed sale� and �guaranteed takeover� � this is total BS. The AGM will probably be late June/July. The Board want the investment to commence before this date and for that to happen, the PSC2 needs to be agreed. For me, if oil prices continue to rise, the stock is a steady riser with a big jump when PSC2 is agreed (look at the reaction for GENEL - the market is in an even better position now so expect something better). Just my opinion and I welcome everyone�s thoughts, particularly highlighting the negatives � balanced discussion is good.
Morning all It�s been great to see the rise in GKP recently, with some of us chasing down those losses. I�m still slightly down on GKP but confident I�ll make that back soon, I bought the maximum I could during the offering and have bought more all the way up to 1.85p. If you�re looking for a medium-long term investment, this is a great opportunity. Let�s look at the positives: 1. Robust financial position (increasing monthly on the back of the oil prices). 2. Material cash generation (increasing monthly re oil prices and reliable payments from MNR). 3. Low debt and undemanding repayment amounts. 4. Project development. GKP are ready to go with the investment to increase output. For obvious reasons, they cannot do this until they have clarified the commercial arrangements with the MNR (we cannot lose our leverage during negotiations). MNR know how much oil we have and how much it�s worth � they want this to happen but will be negotiating themselves so they can find ways to provide benefits in lieu of repaying outstanding debt (see Genel deal). I think the low mark of 28k output was an additional negotiating tactic of GKP. 5. Upside Momentum. For me, this has been missed out and we�re in a period of huge momentum for O&G stocks. At the moment, GKP have a number of material factors going its way � increased geo-political stability, high oil prices, realization that GKP generates a lot of cash, impending news re PSC2 Amendment (benefits of which are not priced in IMO), increased foreign investment (Russia) in the region and medium term (planned) output upside. 6. Other factors. These include knowledge that we have a lot more oil than has been officially stated and the long term lifetime of the field. 7. Solid Board. Well, some of you clearly disagree but I believe they are straight shooters. The VCP is what it is and is simply a follow up from the original announcement of the scheme, nothing new. Timing was unfortunate and I�m confident they�ll counteract this news with something positive for us long-standing shareholders. The restructure was a nightmare but you can�t just request the outstanding debt of c500m from the MNR � it just doesn�t happen like that. The Board had to act quickly and couldn�t rely on anyone else. It�s happened, let�s move on. It�s also worth pointing out potential negatives (where is Paul Curtis? I think he is an outstanding poster and gives a �rational� perspective weighing up both the pro & cons). 1. Geopolitics. Issues relating to IS and security have clearly subsided but they have not been eradicated. I am still slightly cautious with my investment because of this. The elections are also a complete unknown in terms of the impact. 2. Oil Price. Don�t forget this can go back down but it seems like it won�t happened any time soon.