Member Info for NewKOTB

Coldjoe,

"...Hmm not really sure if “profit taking”..."

Agree, unless they got in pre jump at start of June, they are making very little imo and that's assuming they are able to get their timing of entry / exit to perfection.

With using 35k production, Brent $43 and Gas 14.5p/therm and all relevant hedging, atm SQZ are receiving $3.01m per week AFTER OpEx ($12.60).

So we increase our share issue to ~ x4 current issue. Add $400m in value from the purchase plus our current MCap, we will in fact come out at around £8.50/share .... add in market uplift due to acquisition, I would say that £18/share at very best, then factor in AA has now diluted his share from ~27% to ~7%. Sorry, not going to happen imo

He would keep share issue as low as possible imo, he's a finance guy, they do not shoot themselves in the foot. My guess he will do a RBL, gearing on future production AA would easily raise +$400m although he already has option open for $1bn loan, afaik, so why would he need more finance ..... hummm

So anytime shortly after 24th July then !

Twither : 'ZIOC have dropped the floating port idea in turn for Elon Musk co-ownership of the mine and his Space-x project to service and provide end to end delivery. No need for road, rail, slurry line, port ... just a small launchpad cutting Chinese delivery time to 1 hour 17 minute from time of order'.

Just in case of doubt ..... "The above statement is totally FALSE" btw.

Strange closing UT trade ... why would someone dump 47795 at 115.2p, when we go ex div in a few days ?

Yep, Brent moving UP ..... RRE moving DOWN .... ?????

"It appears that there is a bit of concern about demand with a potential second wave of covid 19, but it doesn't seem to be affecting oil at the the moment...."

The real damage was done with the spat between Russia and SA. Now they may not be inviting each other around for tea, but they know co-operating, together with OPEC+ is the only way forward so this will underpin POO imo. WTI fell from ~$45 on the day of the spat.

Munch,

"Perenco is a leading operator processing almost 15% of the UK national gas production", now to get a slice of the gas processing is certainly a way forward imo, 2019 Perenco production stood at 55kboepd and from a high infrastructure count for such a small production "It owns and operates the largest infrastructure on the UKCS, comprising 45 offshore platforms, 14 subsea wells, and a network of more than 2,400 km of pipelines.." Which would mean high decom costs, something AA would be very hot on atm, so would want a mind blowing deal.

https://www.perenco.com/subsidiaries/uk

Like you, I fully expect game changing news shortly in one form or another.

aimo

Duster,

Please don't try and be everyone's best friend, your previous disruptive and abusive posts may have been removed by admin but have not been forgotten.

BTW, guessing you have gone long now ...... lol

Sasa, I would also hope that we charge IOC project mgt fees too ..... a few million at least, after all, don't think they can complain. :-)

The only thing that stops me agreeing with you on that is AA 27% would suffer dilution too. It would need to be a massive placing to make it worth while ie 2 to 3 time current share capital. Once again, can not see AA wanting to go from 27% to ~9%. There are easier ways to raise capital than to shoot himself in the foot.
aimo

The main reservoir in Rhum has been identified as holding 88% of the fields hydrocarbons. Afaik, the 3 wells that BP initiated was to target as much as possible of this 88%. 3 sites were chosen, R1/2/3. I would therefore expect R3 to not only produce inline with R1/2 but also enable greater overall recovery from the field, that may well push our CoP for Bruce out even further and subsequent lower our OpEx too.
aimo

Don't forget that 50% of the cost for R3 will fall to IOC.

Afaik, R3 work will include removing hydrates and down-hole wireline equipment that halted bringing R3 HTHP well into production.

For removing Dusters abusive post from yesterday evening.

CJ,

Yes, that was imo a quite telling interview and one that new investors particularly should watch as it is more relevant today than ever before.

Thanks for providing the link.

atb

Tell you what Dave ..... go all out my son and short it down to £7 then you can double up and ride her back up again....... lol, didn't think so..... "£7", that would be around 30% of our CoH with no debt to service too. lol once more

As for your "volatility in Brent" ..... really, do you not know how SA / Russia / OPEC+ are working together TO ENSURE that POO continues it recovery.

Black Country Dave is only here to cause mischief. Anyone within 5 minutes of doing basic research would understand RRE position, for starter, hedging and we are not a 100% oil producer either.

Like I asked you before Dave, what will RRE be generating in FCF in the meantime as you clearly established that their income "will likely be in the region of 35m". I'm interested how you managed to get to this figure.

Good solid bounce off positive lower trend line today.

Think Duster is having a problem understanding the concept of if you budget for something and you don't use all the cash allocated, that cash ends up at the EoY on your balance sheet as 'additional' cash to that you had for your cashflow forecast at the start of the year for EoY cash position. This 'additional' forecast EoY cash position could help greatly should we want to raise fiance too, particularly when you are taking about $100m.

Duster, once again, what is our UNIT REVENUE atm