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Looks like Uskmouth is on the cards which is a game changer, they wouldn’t have mentioned it unless it was true. They would have to back it up with proof of discussion, also as they say they are now back in production and by next month full production. No financial house wants to put a company at risk while they are still paying and are proving ability to pay in future, It just means they will end up paying more interest and the owner of the loan will be just as happy.
A directorate change is generally a good thing, the board will have assessed the situation and moved somebody into position to take the company forward. There’s a lot to look forward to with this company, first step getting the turbine back in the water during May. The price is rather low at the moment, undeservedly so I think it should be 3p plus.
PJT, it’s not arrogance It’s an opinion. We are all entitled to one, no one has to agree.
There is no point not to continue supplying DHSC, we are no doubt making money out of them and they will be one of the few remaining bulk customers
You obviously don’t know very many government employees. They are never responsible for their mistakes, they never lose their jobs, they never lose their non-contributory pensions, they at worst are moved sideways into another position with the same pay grade, would that happen to anyone in the commercial world? I sincerely doubt it.
We will definitely need something to counteract this news. Having said that it is extremely unusual and rare for a government body to take a private company to court. Knowing how civil servants work in the main, they are very inefficient and will have made huge mistakes which any good barrister will embarrass them with. Hence why it won’t get to court.
Some people will get in at a very good price today, and if there is a resolution at some point, along with compensation, a lot of money will be made.
FFS
We should be able to make some sense of the situation by then.
I don’t think any company is obliged to give any forward plans. They have to give detailed profit and loss figures for the financial year and that’s about all they are legally bound to do.
I think with the announcement of the next turbine being installed, there should be another little jump upwards. After all it does mean increased income.
I’m with you there. Still potential for 11-14p in a fairly short space of time
Some bondholders don’t like to accept the offer of early payment. So far HUR have cleared/paid bond holders who have been open to early settlement, the cash is available to pay the remainder.
Just glad to see that the rise has maintained so far.
Agreed, but I’m glad the share price remains buoyant on the anticipation and hasn’t receded (yet)
Oops I forgot to mention, the comment about well 7 not being operational, which of course we know about. I wonder if it had been mentioned because they are going to uncap it and resume pumping now that oil is a healthy price once more?
Also another uplift and cash due at the end of May to add to the wealth situation. $106 million at the bank, another uplift do you say $50 million, less some operational costs and reserves and you can easily say goodbye to the outstanding debt of $78 million and have good operational cash in the bank.
I totally agree Mariog, Furthermore we are now in a position where we can accumulate cash to further explore and/or reopen well no. 7 now it is financially viable to do so p.o.oil being what it is.
Share price responding to forthcoming good news, I think I said a few weeks ago buy in before they go over 2p. I will say the same about 3p as this share will surely be a multi bagger, I feel a return to 11 to 14p could well be on the cards within the year.
Shivest, like myself you’re keen but let’s not get ahead of ourselves here. We can’t be certain any steps have been taken to install the turbine. The RNS said May.