Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
I'd be surprised once all the taps have been turned on that they don't have enough coming in to break even. Lot depends on 200 per day from Schlumb and what % Block retain from sales, so even at this low level we are susceptible to the price of oil. From recall Schlumb had Georgian tax payments written down on their books against sales but it didn't seem excessive, I'd assume the current agreement would be transferred once sale is complete, maybe our CEO could improve this?
So I'm not worried about Block as a going concern in the short term, its the medium to long term campaigns that will need financing for sure, but how??
What's interesting SEA is that Schlum will be aware of the state of the balance sheet and they are still pushing forward with the sale and taking a percentage in Block. So you have to ask yourself was this the best possible deal for Schlum? To me they are too big to do a firesale on what really is a small asset so there has to be potential in the deal for them to recover more in the long term with Block rather than taking a bath with the asset. So no matter how or ultimately whom gets it out of the ground they want their finger in the pie. Hold for me.
Hi Heps
"Bago has also started on the installation of the pipeline infrastructure, which it is funding, necessary to connect the EPF to Georgia's gas distribution network.".
Been to Greggs already so I'll pass for the now.
For sure Hawks that would be sensible and reassuring. Lets see what transpires.
From the wording of the RNS there does seem to be some low lying fruit that can be monetised in the short to medium term from the acquisition. I feel its important we have a few wins on the bounce to install confidence and potential doors to finance which will be needed for the big pay back drills, which is why a lot of us are still here.
Lads. To me their position is long. They aren’t stupid and their isn’t a short term fix. But they clearly know something we don’t. It’ll all come out in the wash but the real value here is 18 months away. Just, hold and add when you can.
BYOF.
He’s a Georgian rapper, known for his underground fracking style.
Or maybe he’s a former KGB agent who has a fetish for CEO’s with beards.
But seriously folks, check the shareholder list and google is your friend. He’s an industry player looking for gas.
Bobby, I've never doubted Hollywood's skills around the table and his relations with the locals is massively undervalued, but as ever its not what's under foot, its getting it up top. TR1's are a good shot in the arm.
BYOF.