Member Info for mbingo

Not sure why investors are not put off by risk of small cap drillers in favour of established producers. Unique business plan here. Share buy back at 560/board aligned with equity/reseves of 50M P1/2 !! Potential increase in those reserves ahead, extension of assets and reduced decommissioning costs. Very low risk. Wrong valuation in my mind...

Take a look at the interims. Revenue for 1st half at US$66.7M. Dyas (finalised October 2018) backdated to 1 Jan 2018 so ebitda expected at over US$100M for 2018. Capex for Arran (about US$65M) expected to substantially increase BOEPD from 11,500 (towards 20k). 50% Gas/50% Oil. Cash at about US$90M. Market Cap about the same. ...

Quite some recovery in Brent ! TTF gas 24s - solid.

Shares outstanding still not update here. Only 12m or so available do market cap at about £65m at this share price. EBITDA forecast at USD 100m this year. (And next). Cash in bank at about USD 90m currently. (Conservative). Market cap does not reflect the enterprise value - wrong valuation. Great opportunity in my view - very limited risk given balance sheet and assets. Lots of potential upside re resources to reserves etc

Gas prices representing 50% revenue are at 24.5 (TTF). From January to May, they were in the 18-20 range,so 30% or so higher now. Brent OPEX is circa US$30. Even with the pressure on Brent, that is still US$24/25 margin. Currently producing circa 11,500 BOEPD. That’s a lot of cash!

TTF Gas prices (Dyas assets) up 6.5% in last 5 days. Firmly in 24s.

Look forward to news regarding the initial Field Development Plan for Tain and news re Ross and Blake extension. From interim financials, “partners committed to submitting an initial FDP by the end of the year”. Plenty of scope for resources to be re-evaluated as reserves and lengthening of field life.. # cheap equity # cash cow !

Patience indeed. Really solid news today with mute reaction. Retail seem to be more interested in prospect of a drill rather than actual production and cash flow. All on budget with no hitches! Nothing flashy about this investment - valuation simply does not reflect the business. Market Cap will reflect valuation in due course (unless bought out by directors first - which would be a shame).

Approx 20% Less shares in issue. Sellers gone. Demand rises and price has to go up. No brainier here. Market cap vs cash producing assets.

TTF gas futures over 25. 60% more than the beginning of 2018. #dyas acquisition. #Cash cow.

The case for investment speaks for itself - no need to big it up. Getting a lot more attention after company PR and share buy back. Would have thought that by removing any potential sellers via a buy back that the share price would need to rise - removing the supply .... shall see in the next few weeks.

Big sell trades to be reported tomorrow for today I expect. Certainly more volume than normal than today. Anyway, fundamentals will take this up.

Yep, exactly.

That’s a sell General from yesterday. L&G probably, who dropped close to 3% at the dyas acquisition. Oil has dropped today - maybe that has contributed to a poor reaction to what was a cracking RNS. Oil and gas rates still very high. Market Cap about the same as total cash !!!!

Market mechanics - couple of Investors reducing. Allows for a very decent entry. It is great news and the price will correct.

What a fantastic RNS !

Significant volume today. Expect large after hour trades.

No need to pump ; the fundamentals are there for all to see. Market Cap does not come close to Enterprise Value. It will re-rate as the market realises the EV - and seller subsides. Seller has given many opportunity to accumulate.

£80m cap Ish - Cheap ! They have over USD 111m in cash ! (Usd 58m unrestricted - and growing !). Now producing 11,000 boepd at least until 2025 (base case 10k) at these sky high oils and gas prices.

Last broker target of 873p considers Brent price of USD65/barrel (rather than USD 85).

Big disconnect here in my view.

23M BOE 1P Reserves, prior to Arran (8m 2P). US$58m unrestricted cash to develop. £77m cap. Hmmm