Member Info for munchbox54

Mozza.

If it was pre-covid then I would agree but now things are majorly different.

Here’s why :

HH mentioned 3 deals to become a mid tier producer ... that’s 20k-30k bopd is classified as mid-tier.

So that’s an average of 3 deals @ 10,000 bopd.

Now look at recent deals ..... I won’t bore you guys but will only mention a few :

Premier oil buys BP assets $210m for 20k bopd
Energean Buys Eddison E&P assets $180m for 45k bopd
Rockrose taken over for £250m with 20k bopd and $300m
Cash.

So I think these assets which would have cost double prior to covid show what’s on offer.

If they go for 5k now for £30m then the complexity of the deal would be minimal and probably done by now.

THIS IS THE TIME to buy and buy big especially in the North Sea.

The delay in my opinion is because the deal is massive ...as a holder I would want that and most likely it’s the BOD best and quickest way to their target.

Notice how HH said about “ unfinished business “ so in theory with so many big juicy assets up for sale if they go for a 3,000 bopd asset then it will show managements vision.

The most amazing aspect of this company is the need to raise money with such a low market cap and hardly any shares in issue which makes a raise at substantial premium likely ..... why you may ask ?

Because they would ignore the current shares as there’s only a few million and concentrate on the asset itself ....if the asset is cash flow positive and valued at £150m then they could easily get NEW institutions to invest at even £5-6-7 a share knowing profits and cash flow are rolling in .... not the fact there’s 10m shares outstanding.

There goes the “ 10 trading days above 55p “. Just hope we don’t drop lower. See strong support 44-45p.

Investor81. I would rather buy on the day it’s all set in stone.

You guys waited all that time just to get a basic update. Why didn’t they just give you the full update once done and shock the market ?

It seems strange and being based around Brazil that’s ravaged politically and by covid at the moment I wouldn’t touch these with a barge pole mate. Rather buy at 15p knowing it’s going higher.

Nothing new here yet.

STILL waiting for agreement. Don’t know why they didn’t just update when the full agreement was in place. It will stay here until news drops.

Nice profit.

Was getting bored so decided to bank my profit and not get Greedy. Down 12% for today.

Now I can go shopping for some much needed groceries.

Good luck here. Might decide to take a long position but still not fully convinced.

I mean if you get money gram and ali baba in 2 deals yet still the markets don’t value them .... strange.

When are results due ??

Cheers. Munchbox 54.

Will look to close my short tomorrow. Can see a 10% drop tomorrow then a bounce. Good luck.

But I think you guys are ramping a bit lol.

No such boom or 10p with today’s rns. Infact fridays 20% is baked in.

With results already gone the gas price rose could easily be mistaken and not effect the sp positively.

The only news that’s due is ANOH gas plant funding that will get this moving. The 2 drills later this year are nothing material as such but they really need to get a move on. The whole market has progressed ..... seplat have not.

These will get taken over at this rate. Expect £1.30 a share or about £600m for the company.

Looking forward to the week. Good luck to e equine who holds. Currently this stock is newsflow driven and Monday / Tuesday will see the retrace and bank members my profits. Let’s go.

Oilman. Good question.

Here we need to look at market Peers and valuations, compare what’s out there.

20k bopd is worth roughly £250m
30k bopd is £300m Obviously both come with reserves.

Current market cap is £10m.

Question is current holders would be happy to pay £5-6 a share to raise say 50m shares at £5 a share but notice how their current holding at 50p multiplying by 10 x.

I can see a serious uplift in sp simply because of the huge assets out there and the money they would generate for the company.

If you look at most of my posts I never state how many shares I actually hold, hoe many I’ve bought or added in companies .... yes but never a total holding.

I can happily say I own nearly 50k shares here and am very very happy waiting for the first deal. I can see the share price rising considerably and the assets aquired to be very big from the off. After all when will they get an opportunity to buy such assets at depressed prices.

Personally it’s well over due and any deal will have to be announced before the end of this month.

Volume is key, when you see the volume rise along with sp then it’s game on.

Good luck , relisting will come at minimum £200m valuation and I can’t see them raising 100m shares at £2 a share ..... that’s the worst case situation and still a 80% gain from here.

Looking good here. For the simple reason is the valuation.

Market basically is saying they have nothing .... if the results of drilling prove up anything remotely decent then these will multibag from current levels.

Personally I feel £10m is a fair starter or 25p. On just possibles and hype.

If results turn half decent then £20m and 50p is surely on the cards.

If the results are really good then £30-50m market cap is a go go. Could easily get to £1 here. Just needs the right rns with grades.

Cheers jhonnybear.

I think the transactions above $1000 are limited.

Also they currently Generate $170m turnover just to make The following :

Sales : $170m
Gross profit : $10m

Net profit $1m.

So any movement lower will see them become a loss making company.

Just be careful here. I know the drums are banging here because people invest without research and then get all defensive when the truth is pointed out.

Maybe just maybe a 12-18 month view is valid to see business Model which has very very small margins but for Now ....sure this is going Lower short term and likely below 10p

Have a great weekend guys.

Thanks mojo. Appreciate the comment. :))

I don’t want to get in to bin t c h y arguments with I d iots here but why am I getting name called?

All I said was I’ve opened a short.

It’s in profit now and I will
Close it at 10p.

This will fall further next week. Let’s gooooooooo

My short showing a profit.

Still
Open.

Good luck guys.

Appreciate the comments and balanced views guys.

Can see retrace as market sell off will
Occur and this rns shows no financial impact. Good luck.

Short still
Open. If they mentioned the ££££ value them its a different animal or even projections.

Got 16.4p £400 pp short opened. I expect 10p by next week and a nice £2,500 profit.

Let’s go

I’m not watching anything apart from that Interview with HH. They will look to to 2-3 deals in an interview that was done a while ago ..... thinking behind that is to become a mid tier producer looking at 20k bopd. Maybe 30k if you push it.

It is now possible within ONE DEAL. I’m waiting on that first deal which will be huge and market won’t know how to value it so it will over shoot on the upside like these covid stocks. Lol.

Come on HH. What are we waiting for.

Ffs. It’s still in Trial. Terns used “ $360m payments IF SUCCESSFUL “

You guys have got carried away because of covid stocks.

I wish you the best but don’t be shocked if this drifts lower over the next few weeks

This is showing 100% the same trading pattern before RRE announced the deal.

It’s amazing how they subdue is investors, tire us out and force us to reduce or sell holdings.

This is making me even more optimistic a deal is closer. Look .... when it went to £1.30 every Tom ick and harry was here saying next RRE. Most are here but some have left. MMS playing it clever. As I said before ..... I’ve been there and done it ..... I’m too experienced to fall for the mms trick here.