Member Info for mattwales

If there is an extension Brent will move past $40 and then all and sundry will be looking to dump their cash in oil.

Patience buying/holding these for 2 years will reward you.

I dont care about short term, I dumped £20k in here yesterday because it is clear oil will recover from here.

I also wouldnt call my post ramping in anyway. When have you ever seen an oil market not recover?

roughly £75.4m profit at this price to Tullow per year.

I think oil is moving up anticipating OPEC will extend.

With regard to Tullow, its obvious its share price is being manipulated down. 26p at $25, 23p at $37.

For me it just works out at a great buying opportunity to buy cheap shares.

I have a feeling oil will go the other way with supply unable to match demand in 2021 as most of the rigs used to maintain production have been pulled. from shale. Also capex has been cut worldwide and cancelled projects.

There is a gap up in the chart all the way up past 200p and I seriously think Tullow will be there 12-18 months out.

Sure, its high risk but when have you ever seen oil not recover in our lifetime.

lets face it at $60 tullow will make more cash profit than its actual value.

I bought in today because at $25, Tullow was 26p. At $37.70 and a profit of approx. $69m per year based on 70000 bpd with a price which will rise as the year pans out, its a crazy valuation.

also despite the non compliance of Iraq and Nigeria OPEC are supplying the lowest oil since 2002.

Now given the Americans pulling out patriots and military and senators threatening Saudi Arabia with pulling the lot.

I dont see Saudi Arabia in any particular hurry to increase production anytime soon and was probably another reason they cut another 1 million barrels.

With lockdowns easing and flying about to come onboard it'll be another month or 2 before we see demand exceed supply.

Of course there is a lot of storage but it'll get whittled down and it'll take offshore drillers in particular a long time to switch pumps back on.

with the hedges they have and with Brent now at this price, they are also profitable.

the way I see it when Brent has passed $60 (which should be later this year) Tullow will be well advanced of these prices.

It's silly to sell when you should be buying for the recovery in oil demand.

at some point Tullow will break out of the range. I'm adding at these prices.

yes ftse 100 tracking firms will have to dump the stock. Carnival the most at risk.

https://www.standard.co.uk/business/easyjet-carnival-ftse-100-coronavirus-a4455591.html

I agree with barnetpeter short term this is heading to 0.25 or lower as its approx. 5 new shares for every 1 held.

It makes sense with that much dilution the shares will drift to the placing price.

I thought his original plan was to dump it all in Durban and use their commodities exchange rather than have offtakers.

Has this changed?

yes he needs to focus on RHA the point is since Feb he has fobbed us off and its costing the company £140000+ per month in losses.

I'm not sure if the delay is he doesn't see its economically viable after filling our heads with it is.

Nothing adds up with all the delays.

wolf, the RTO and a change of management so GR could step aside was my only positive argument lol

I agree squirrel it will be there or thereabouts.

Zimbabwe under lockdown however, the EPO is likely to be delayed for months past lockdown and normality returns.

and it's $8.1million post SGM to RTO oops.

I personally feel he should RTO the lot post SGM and step aside and let MNH management run things.

then we have a possible MNH RTO issuing $7.9million worth of shares, although I feel he will keep adding stakes in batches.

Look post SGM he has a choice go for broke and warrant a £1 million plus placing to get RHA production up and running or sit back do nothing get placings off every 2 months for £300000 a go.

Whatever route he chooses we will have much more dilution.

so my own woohoo we're projected to hit MNH turnover of $80m has fizzled out and more likely to be well under half of it.

I warmheartedly look forward to August where the webinar will be seriously the EPO is signed.
I bumped into this lady you see and she said it's on the way to the printers, they use this gazette you know.
Followed by well RHA we're now ready to produce tailings and we're going to magically go into production pulling a rabbit out of my arse. Then Circum blockbusting IPO coming soon

the shareholder action group led by napom need to pressure for salary cuts to BOD/senior management while everything is on care and maintenance.

At least this will minimise losses of £1.6m a year.

I am sure we will keep increasing our MNH stake.

Everyone still spouting 38750 tons of production by end of 2021 needs to seriously doubt this target as we're at a third of the production expansion target.