Member Info for middleEastMoney

Actually and I quote

‘ . Work on the audit remains ongoing and it is now EXPECTED that Revolution Beauty's audited FY22 accounts will be published by the end of April 2023.’

Bold font my addition

MEM

I can wait :)

REVB previous RNS indicates our margins are 10+% more than Warpaints.

Warpaint pay a substantial dividend

Given full clarity on our accounts (soon god willing) I wonder when/if REVB could pay a small dividend ?

Tomorrow for an RNS or we are into May.

Someone on here suggested sack our Auditors, that would mean any new auditors would have to start again. No auditor would accept such a complicated set of books without DD.

ADG62, I have taken your advice and listened more closely to PG again.

You are correct, PG is only giving an example of the sale of 40 Bcf for approx $150-$200m

If we now consider just how much gas might be across the greater MOU area, not all could be sold as CNG, but even at only $8, half the price suggested by PG, there is a huge amount we could wrap up in a sale.

I stand by my comments re PG’s Comms skills.

Thanks

Keith,

VERY few huge logistical projects ever run on schedule and on budget in todays global market place with bottlenecks, delivery issues, Customs etc.

Lots of Third Party contractors will not even commit to a price, all the global supply chain issues, does not matter if you are BP or ConocoPhillips.

Delays are the new order, just ask Boeing, their supply chain is in tatters.

MMR,

I understand all this, but not sure how you can possibly say ‘dividends will start soon’

We simply do not have any detail on anything.

Once we sign over the License, we lose control. It could be years until meaningful Dividends are paid

Surely this was always a possibility, find huge Amounts of gas (oil) and our hand is forced, lose control to a big player.

Let’s see what PG’s latest rotation to plan G is in May. Surely a proper JV is a far better outcome for SH, its not just about PG personal fortune.

Makes me think we should have gone for a JV a year ago !!!

There is one aspect that never changes even if PG moves the goal posts many times, that is POOR COMMUNICATION.

PG might be an excellent geologist (it must be true, he told us) however most SH can now see that PG’s communication skills are below par and consistently below par.

Not every CEO makes an ideal face of a company or are gifted in public speaking.

PG needs to admit to himself (remove ego) and find a better spokesperson, who can present the facts in an unambiguous manner, clarity in facts, not create more questions that leave everyone guessing with 20 more questions than prior to PG opening his mouth.

I for one am totally confused by the long term goal of Morocco, what exactly is the plan ? How and why has the plan changed ? Full transparency please (as much as NDA’s allow)

Lonny if you are reading this, you might wish to either wrestle any further ‘announcements’ from PG and takeover these duties, or put in place an excellent PR firm who can be fully briefed and provide a further RNS answering many of the questions posed by some very disgruntled LT SH.

This shambolic poor communication is not helping anyone following PRD, and I would respectfully ask a major change in future Comms, as the current method cannot continue.

PG has many fine qualities, but I would respectfully suggest Comms is not his best .

MEM

Hi AndB,

PG putting a very clear valuation on 40Bcf, out in the public domain, is a clear attempt to allow interested parties to see a VALUE - clear as day, the read across is simple.

The 10% stub equity/possible Special Dividend is another clear message. Going forward, it is very likely any special dividend could be many multiples of todays SP !!

Later on stating a possible value re our 50% JV in IRL and a ‘timescale’ is another indicator of future VALUE that might be obtained.

T&T could yet be massive, hopefully a CPR to be published soon.

SPEED and VALUE was the takeaway for me today, given the obvious short timescales mentioned more than once by PG, I expect to see the SP tick up, then we have the May presentation (T&T CPR ??)

An exciting 2-3 months.

MEM

Therefore calculate 10% of that figure = $9.5bn divided by 1.25 USD/GBP = £19 per share

Or £1 per tcf a lovely special dividend

MEM

Graham,

Good to see we agree.

Thank you

MEM

Jimmy, only a part sale, a very small sale, to then fund the business, zero loans/debts etc.

PG is always the same, you have to search for the hidden message, in plain sight :)

The rules preclude a CEO from suggesting his or her Co will be worth X amount, PG knows how to get around the rules.

FYI PG’s own valuation is almost exactly 1p per Bcf added value to the SP.

MEM

P.s. I put my valuation forward last night at 0.5p per Bcf.

PG’s calculation is higher !!

My very firm belief is PG meant the possible value of the proposed CNG operation ONLY, otherwise the entire CPR is rubbish, which I do not believe.

Look at it the other way 40 Bcf = $200m

What is the remaining gas worth ? As indicated within the CPR.

200 Bcf = $1 BILLION

400 Bcf = $2 Billion

800 bcf = $4 BILLION

Relax and watch what PG does with $200m (Yes a Special Dividend) real money to invest across the business.

FORCE MULTIPLIER EFFECT

MEM

Smartbeds, I strongly suggest you actually do the math before you offer judgement

Hi Vegas,

Correct, discounted.

I think that is a fair valuation. I was considerably higher, what with Placings, wholesale gas prices dropping off their highs, although it could be argued that Morocco as a market is very different, if we/next owner are looking to have bulk sales, north, in to Europe, then I think this justifies my valuation, which I believe is fair and reasonable.

0.5p per Bcf.

MEM

For any skeptics out there, my simple valuation metrics are currently = 0.5p per BCF

That allows for a discount to any NAV, delays, missed deadlines. Realism.

Reality beckons.