Member Info for mbingo

Tight spread : 695.5 - 700. Expect some big prints later ..

600s should be gone for ever.

Agree. This will let loose.

Yep. All sorts of bits of good news in that RNS.

So More production, reduction in restricted cash, more unrestricted Cash, more flexibility to maximise shareholder value through acquisition or other.

Well, an extension here was said to add 500p to the broker target, so 1900 ish, instead of 1400 ish. Market mechanics playing out re Macquarie I expect. Fundamentally wrong valuation. Extension of Ross and Tain by at least 5 years such good news. 2P reserves up by 9.4M boe - major news. Company still valued at marginally over unrestricted cash. Must change.

Fantastic news!

Stream of 1232 buys going through - someone loading up in the 650s. Waiting game for those already in. News due on many fronts.

Agree. Just the wrong price. They have US$120M+ in cash (US$70M of that can be used for acquisitons/dividends etc). Growing cash pile growing, plan to spend ($60-70m of 2019 cash on Arran to take company towards 20,000 boepd mark. 10-12k is guidance for 2019. North sea assets. AA with close to 30% share. Share buy back in October as "cheapest asset in the market"

Boepd was up in the quarter - that should transfer across to revenue.

2019 cash generation is what looks really exciting to me.

A few observations: Total Revenue from 1st half 2018 and 2nd half 2017 was approx US$80M. The IG103 success should generate an extra 30+m alone annually.

Cost of sales was down U$6M from 2nd half 2017 to 1st 2018.

Total Assets of group valued at US$224M.

Market Cap £81m

Ukraine production is up 38% on Q4, or by 1422 boepd. IG103 "Well already profitable after1 month production" ! (1,795 boepd from this well alone). "Suggest untapped potential in the complex"

"11 separate development projects being matured"

Enhanced Cash positon allows them to auction for more licences, develop projects - and gives comfort on balance sheet.

Cash coming back inot the business re prior proceedings. Liabilties reducing.

Surely Costs will come down also.

Other comments referenced in Operations update:

"Other activity carried out in Q4 2018 in Ukraine is as follows:
-- WM3 was successfully spudded on the 21(st) December 2018 and drilling is ongoing.

-- A contract has been signed with a seismic contractor to shoot a 3D survey over the West Mashivske field in the Elyzavetivske license. The contractor is on site preparing to start conducting the survey.

-- A lengthy rig tender was completed and a contractor has been selected for the next wells in the rig schedule, R101 sidetrack and NN81. R101 sidetrack is to be drilled to appraise the Visean to the south of the original well in the Rudenkivske field. NN81 is a new well planned to appraise the V16 to the south of the Novomykolaivske field.

-- PPC's own workover rig is mobilising to WM215 to start a workover to optimise the completion, to enable consistent fresh water injection and to re-perforate the well in an effort to increase production."

There areTax benefits

Very exciting assets. Cracking news the other day. Macro position re commodities much more promising; copper at highest price since mid-November, and on a nice trajectory. NDAs ... Majors sniffing.

Quietly closing in on 700, after time in the doldrums at 600-630. Very hard to see the downside. US$120M+ in cash, operating in friendly jurisdications, 10-12,000 boepd, alignment with board of directors, looking at acquiitons, looking to develop Arran for a further 5,500 boepd. £85m market Cap !!

The placing was at 4.5p and that was before these discoveries... Chairman bought in the open market and in placing. Some way to go before fair value ...

The language used here from a very measured individual is quite telling ... sounds like a major find.

Would appreciate some thoughts on valuation of their other non core assets in Slovakia and DRC...

And the Chairman’s comments:

Nick von Schirnding, Executive Chairman of Arc Minerals commented:

"The initial results from the airborne survey and soil sampling programme are extremely exciting and have exceeded all our expectations. It is clear that our licences lie in a very prospective mineral belt adjacent to Zambia's largest copper mines and we believe have the potential to host not one but multiple large new copper deposits.

The two new target discoveries, which are close to 10 times the size of Kalaba, with strong soil geochem and geophysical properties/grades, is a potential game changer for Arc Minerals. We have been approached by some very large industry players and are in discussions. We continue to assess the data as it becomes available and look forward to reporting further on this shortly."

This is the more like it - excellent volume.

Fantastic news yesterday. Worth re-reading the RNS - I copy just the first section.

Significant New Targets Discovered at Zamsort

Arc Minerals is pleased to announce that initial results from its airborne geophysical and soil sampling programme at the Zamsort Copper-Cobalt project ("Zamsort") in north western Zambia have identified significant new target areas.

Highlights:

-- Two large new targets discovered - Cheyeza West and Lumbeta
-- Wider Cheyeza anomaly of 10km x 8km
-- Lumbeta anomaly stretches 11km
-- Eight significant targets confirmed
The initial results indicate several new large anomalies, a number of which stretch for many kilometres. Cheyeza West is the most exciting of the new targets with a core 3km x 3km anomaly outlined by very high Cu values in the soils enclosed by the wider 10km x 8km Cheyeza anomaly. In addition, the co-incident electromagnetic anomaly over this 3km core, indicates conductivity within the host rock, has moved Cheyeza West to the top of the company's internal ranking of its exploration targets.

I’m taken some over the last week. Delighted with today’s results. Really like company’s measured approach. Clearly they own some very exciting assets. A lot going on for £20m valuation. Well below recent October placing price of 4.5p. CEO owns a fair few (fundamental for me). Lots of interest in non core assets. Happy to be a shareholder.

Next session or two