Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Snapper we keep covering the same thing here.. You consistently ignore the assets they currently have. Read the following.. They can make £2m revenue at current bopd production KEA is a 0.5 time annual revenue! Forget expansion, focus on what is in place! If Kea can be wound down to tick over, the revenue will come in, and exceed expenses. All we need is to vote the bod out and cut expenses ie offices, wages etc. The Puka field in the onshore Taranaki Basin produces from two wells, Puka-1 and Puka-2, but it’s fair to say performance has tended to under-whelm. Initial production of 700 bpd from Puka-2 quickly dropped away and in Q4 the two wells were averaging around 150 bpd plus 1.2 million cubic feet of gas per day, which generated US$1.2 million for the three-month period. Puka discovery, which it currently reckons holds 1-3 million barrels with potential P50 upside of 7-10 million barrels.
Cop = cost of production.... I was just wondering exactly what the break even point of the COP is for both, not the revenue vs expenditure before someone posts it. Thanks in advance.
less than one hour after I posted the "word on the street" the Royal Bank of Canada holdings RNS came out.. I wonder if that is an informal request to be "invited to the discussions about an EGM"... Might have to make some calls and see what I can find out :D Together the last holdings RNS statements indicate they alone hold RBC = 1,800,000 (1.92) Nigel Wray=2,980,357 (3.17) ANTHONY MICHAEL BOUSFIELD 2,460,000 (2.61) Matthew Zielonka Ltd = 991549 (1.06) I find myself wondering if this is the "EGM party..." they hold 8.5% and have capital to back a good plan... They can hold an EGM to call for action and discuss alternative arrangements if they work together.. they can also probably vote out the existing directors as I am quite sure most of the other holders realise unless something is done Kea is a gone. I guess the same as Pog and Afr... now we have Kea! https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch73-84/Chapter%2075/Part%2011/Part%2011.htm Members' power to require directors to call general meetings (sec303 - sec304) The directors must call a general meeting if so requested by the holders of 10% of the voting shares (or 10% of the voting rights if no shares). If at least 12 months have elapsed since the last general meeting called under this section, the request may be made by 5%. The request for the meeting must state the general nature of the business to be dealt with and may include the text of a resolution to be moved at the meeting (provided the resolution would not be ineffective (e.g. under the Act or because contrary to the company's articles, etc., and provided it is not defamatory, frivolous or vexatious). If the request is properly made, the directors must within 21 days call the meeting for a date not more than 28 days after the date of the notice calling the meeting. If the request included a proposed resolution, that must be included in the notice, which will then be part of the business that can be conducted at the meeting. (If it is a special resolution, the notice of the meeting must say so, in accordance with sec283, above.)
EGM would call for a vote regarding expulsion of the current directors!.. if true, it could save peoples money,...
I believe that one or more parties are interested in calling for an EGM to discuss saving the company... no official source at present..
chunks... I can easily get a quote to sell SELLING 250,000 of KEA PETROLEUM PLC ORD GBP0.01 @ £0.013 There is still demand for them obviously.
link?
A 3% holding RNS yesterday is STILL news. I am starting to wonder about your motives for coming here as you have consistently been soooo negative that it looks very suspect. imho of course.
He has loads of interest!!! and he is LOADED!!! http://www.thisismoney.co.uk/money/markets/article-2383827/Nigel-Wray-sells-28m-slice-Dominos-profits-slump.html https://www.google.co.uk/#q=Nigel+Wray+020+7647+7647
Nigel Wray Investor Nigel Wray is one of the UK's leading entrepreneurs, associated with such high profile names as Domino's Pizza and Saracens Rugby Football Club. NICE ONE!!!
two are basically major share holders.. there is not much in the way of floating shares out there!
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Agreed
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Just saw your post :)
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12258336.html Statement of 2.61% holding. I guess that is the point of the previous RNS last week, nothing to do with cost of an RNS rather to declare positions.
Guys, I know it is hard, but we have the figures for P50, we have the extraction rates at previous releases for each .. so.. fancy trying to give a breakdown and a valuation? We can make the following assumptions. 1) the buyer of kea will be looking at resources which have been proven and probable. 2) the buyer does not care about the cost to get the wells back in action (simply because they are buying kea this is a given. 3) Assumptions regarding revenue, average oil price as per average oil price over the last 12 months and cost of production remain constant going forward. (For this valuation purpose). This will give a plausible top valuation. We can then assume an average oil price over the last 3 months for the worst case.
I will investigate and see what I can find out for everyone.
I am enjoying this debate today, and I respect both of your views. I have one last question I would like you to answer for me. One and only one.. Can you please give me your financial estimation regarding the value of the assets of the company, 0.5m, 1m, 2m, 3m, 4m... If you can break it down via puka 1, 2 etc I would appreciate it. I am going for lunch, have a good afternoon, I will check back later to see your breakdown.