The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I agree with the �2 - �2.50 valuation on funding, that has been my first target, for Liberator alone, not including the 30th award...
Well said General.
I'd expect they will, they are professional and know how the AIM game works (I heard the Ithaca offices used to have communal TV screens with live tickers haha) when there is a slip and lack of communication. Oil industry negotiations are always extremely lengthy and prone to delays by nature but if they were advanced 2 months ago I'd expect they will be close to close now, however partner sign offs etc can drag.
admittedly none of us know, so just got to sit tight and wait. However from my experience I would be reluctant to think that it all hinges on the 30th round, which requires further appraisal, then development, even in a commercial success case, while Liberator is as close to a sure thing cash cow for a lender that your gona get, with full FDP and pre-development engineering and plans already underway or completed. It would also appear there are multiple lenders out there, as i remember there was someone wanting to front an initial 25m and now somone or maybe same person with up to 200m. Fingers crossed.
haha "no 30th round win then no funding and vica versa" makes absolutely no sense from a funders perspective. Why would someone hinge their decision on a much higher risk appraisal discovery well and choose to ignore a sure thing money maker. It's not how it works in the oil industry mate I'm sorry. It was a good attempt at a deramp but need to try harder. Also if you look through the RNS I'm pretty sure it eludes to the lender offering to fund whatever is required, including a sum <$200m in the event the 30th round is unsuccessful.
It's all noise inbetween now and funding in reality.
Yeah, seems to be a lot of 5k batch ordering going on. 5k batch buyer still around but not as active as previously.
GOR = 341 scf/ stb = 3.41 mm scf/day
Not sure if I've seen a GOR in any of their presentations but its been a while since i reviewed them.
Considering this will multi-bag on funding you'd have to be mad to jump ship just now :P
as far as patience goes this share requires next to none IMO considering the actual progress and real value creation that the BoD are achieving compared to a lot of the P&D cr*p out there on the AIM.
This morning, all boding well for �1 pre funding as you say Brooko. Expecting new highs shortly.
Great news for us, current operators looking for ways to maximise their existing portfolio and seek growth opportunities. Really would not surprise me if it�s RR putting up the $200m. Makes more sense than Repsol knowing their North Sea budgets are quite slim these days. Everything playing into I3s hands perfectly. RR want to grow, Repsol want additional cash flow with minimal or no capital outlay, as there will be a tariff for allowing I3 to flow through their infrastructure.
This morning, even if its frustrating for LTH its a clear buy signal for new entrants, which in turn will drive the sp upward. Resource in the ground says its all.
I am very confused by the news blackout also but cannot think why they would co-ordinate a drop. So my question is; who would benefit from it dropping / how can one on the inside benefit from it? I'm not saying they can't, I just have always assumed people would benefit from orchestrating a rise as opposed to a long and slow drop.
With the use of the word "expected" shortly after it implies your alternative "they should" scenario... :P
Slicing a penny until we are �1.50+ atleast and been here since the high 20s / low 30s. Got another large tranche low 50s.
78.5p....
But will be back shortly. Just in case anyone thought I�d sold out, still got my full holding.
Time approaching I think....