GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Has relevant information which will affect FRR, due to what is happening on the 2nd October.
Sorry, rushing before going out. It should read :-
Therefore, 292p for the extra cash plus the value of CNE with rock bottom sentiment (when the shares were greatly oversold).
IMHO the payment from the GoI will return some of the sentiment and should result in a share price greater then 292p.
Prior to the GoI change in the tax law, the share price had dropped to 122p and was looking to bottom at 120p. IMHO this was the market valuation with rock bottom sentiment and a zero value on what was owed by the GoI. IMHO this was because it could have taken years to recover and there was no guarantee of recovering a substantial amount.
Now there is a settlement due of $1.06bn, which could arrive in a matter of weeks. There was also around $90m more in the bank (end of June as opposed to the end of year results) and around an extra $10m per month for the North Sea and Egypt production since the H1 results. Total = $1.06bn + $90m + $20 + $20 = $1.190bn (I couldn't access the RNS above, so the figures from the results are from memory and might not be accurate). This equates to a share price of 172p, just for the extra cash. Therefore, 272p for the extra cash plus the value of CNE with rock bottom sentiment (when the shares were greatly oversold).
IMHO the payment from the GoI will return some of the sentiment and should result in a share price greater then 272p.
Where did the 30 TCF figure come from? Block 12 had something like 12.9 TCF og GIP and 9.4 TCF recoverable if my memory is correct. There was talk of 202 TCF of GIP, but it has not been independently verified. IMHO the greater emphasis is that supply from Georgia stops Putin's leverage of the gas supply to the EU. Hence the NORD 2 sanctions and the political backing of Uncle Sam, the EU and NATO.
Mick - The usual valuation of $1-3bn/TCF (if my memory is correct) is based upon a number of factors, not just the current price of gas. A producing field will obviously get a higher price, as will a field close to it's market. Although Block 12 is not producing very much, there are transport pipelines in place and a very large market nearby, the EU. However, the PSA needs to be extended and it needs to include the Eldari B, if FRR is to get a good price.
If shares trade at their true value there would be no market. Who would buy at true value. People buy to make a profit because they think shares are undervalued. The market moves on sentiment, with shares oversold when there's risk or uncertainty, and overbought when there's no uncertainty and risk turns to reward. IMHO this will move past the true value of £3+ when the GoI pays (uncertainty removed) and could be overbought as high as £4. The MM's help to create a market by accentuating the buying or selling, creating peaks and troughs. Hence, shareholder's get caught by buying on spikes, and panic and sell on dips.
The wells were producing 220bopd of oil (75bopd of that was heavy crude) and 300boepd of gas, and the wells have very low costs of less than $12/bbl. T45 flowed initially at 278bopd and Dino flowed initially at 315bopd, both after fracking in 2018. T39 initially flowed at 250bopd plus 350,000scf/d wet gas with a 6/64" choke (this is a 3mm aperture); 347bopd and 425,000scf/d with a 7/64" choke; and 529bopd and 600,000scf/d with a 8/64" choke ( full bore = x 8). This well is not fracked and flows unstimulated, ie it is a gusher. This has all been published by RNS.
If the wells were high cost and not very low cost, at less than $12/bbl, then the RNS contained lies.
If the wells only produced 70 to 80 barrels per day the RNS contained lies.
If they were only producing $750k of revenue per annum, why would Green Capital pre-pay for an order of $2.8m and increase this to $10m? It would take almost FOUR YEARS TO FILL the $2.8m order, based upon the $750k/year revenue and SIXTEEN YEARS TO FILL the $10m order.
IMHO WHamBoy and Coggy are right, ZM wouldn't be trying to steal the asset if it was that bad.
If the Indian Government have offered to pay the monies owed, but not the interest or legal fees, then the worst case should be $1.2bn. IMHO if the BoD then announce a special dividend and disclose the money in the bank from oil and gas revenues (half year results are due next month), it could add £2 to the sp.
'Arsenal, by the time this lots up and running again, we'll be in the Chelsea pensioners.'
Coggy - You won't, you'll be in Woolworths!
Might be worth passing this onto FRR, as there was an article about the possibility of racketeering charges being brought against a cabal of shorters.
Sorry missed a bit.
We know that some brokers have lent out shares. Some brokers could be looking at substantial loses with little chance of recovery from the shorter's whose accounts were allowed to be closed (if FRR comes good). It cost a little more, but I'm glad that I used HL and paid extra for paper copies of all contract notes. It would be disastrous if we lose everything here. The only thing that would be worse, would be enduring this rollercoaster with FRR coming good and not being able to get the recompense due no proof of share ownership. Make sure that you all keep a copy of the email as proof that you were shareholders, if you haven't any other proof.
We know that some brokers have lent out shares. Some brokers could be looking at substantial loses with little chance of recovery from the shorter's whose accounts were allowed to be closed. It cost a little more, but I'm glad that I used HL and paid extra for paper copies of all contract notes. It would be disastrous if we lose everything here. The only thing that would be worse, would be enduring this rollercoaster with FRR coming good and not being able to get the recompense due no proof of share ownership. Make sure that you all keep a copy of the email as proof that you were shareholders, if you haven't any other proof.
I didn't vote for them or the WAG, plus if this ever comes up trumps I will move to England.
Dulwichman - Unfortunately in Wales we have a second rate system. Money is wasted on things like free prescriptions resulting in certain drugs for cancer etc not available here. They wasted over £10k just prior to one election writing to everyone on a waiting list, asking them to reply by 28th February if they wanted to remain on the list. The letters were sent by second class post late on the 26th February, resulting in the waiting lists becoming zero. Labour then campaigned that they had reduced waiting lists to zero in Wales. After complaints people were reinstated on the waiting lists, but not in enough time for the statistics to be used in the election campaign.
Take a look at the tale of two nations list in the link below :-
https://www.dailymail.co.uk/news/article-2802344/condemned-die-waiting-list-shambles-day-3-mail-s-expose-welsh-nhs.html
Good news. Will you be changing your name to theBionicprodigy? Well they say laughter is the best medicine.
Now over $75/bbl.
https://oilprice.com/
A TRO is only a short term stop-gap measure until a court holds a hearing or grants a preliminary injunction.
https://www.law.cornell.edu/wex/temporary_restraining_order