Member Info for notrac

How do you know they have cash in the bank? I cannot find an RNS where they have updated the market on the cash position for some time.

On the day that the court approved the reduction of the share premium account, I understand that the Sheriff of Aim aggravated an old ankle injury. UJO holders were not too happy with the sheriff and his erstwhile oil specialist last year for a number of reasons.
I gather the sheriff is holding an open day next weekend in North Wales The oil specialist will be present to speak on the oil sector. There has been little comment from the Sheriff on UJO for some time. Let's hope they continue to leave UJO alone.

This needs to be discounted by a factor of 3 to 4 to take account of the fact that that these are reserves. Also not clear from the recent financial numbers from Deltic that there are funds sufficient to fund the commitment for 25% share of costs on Selene.

Deltic's share of Pensacola is 30%.

This appears to me to just about cover the amounts to be supplied under the hedge. but no more.

Paradise postponed or jam tomorrow. 35 mmmscf is still 360K therms per day at a net margin over around £2.5 per therm (conservative). FCF in H2 should be around £75m.

Noted with thanks.

How do you know that LOG are sellimg?

Last year the results were published on Thursday August 26th.

According to ***star, the two would hold 293 million shares (including the shares available under the conversion rights) out of a potential maximum of 625 million (if all the other shares which could be issued are issued under the various schemes in place as per the Annual Acounts). But it's not that far short (20 million shares) of the required 50.1%. If the results and guidance are disappointing in any way, the company will be vulnerable.

The holder of the convertible notes are the administrators of London Oil and Gas. Unlikely they would sell short but at some stage they will exercise their right to convert the notes into shares.

This is relates to the resolution of London Oil & Gas. The amount is mentioned in notes 7 and 10 the year-end accounts published in a RNS in March 2022. I cannot see in the 2019 RNS any time limit on their conversion.

@Philsy027
Thanks. I assume your number is pre-tax.
Looking in the accounts I see there are convertible loan notes for 60 million shares at 19p. This goes back to 2019. I do not see any eventuality other than conversion.

But doesn't half have to go to CalEnergy?

With volumes in mmscf/d converted into therms (divide by 96) and then converted into MW (divide by 34) to get volume by price (say Euro 210 per MW). Exchange rate Euro 1.20 to GBP. 50 mmscf/d should give over £2.5million per day after deducting costs of production. After tax at 65% profits in excess of £800K per day. Have I got this right or should I retake my Maths GSCE?
What will be interesting in the half year update is the guidance for the rest of the year. Dividends will have to wait for publication of FY results next year.

The marketcap peaked in 2019 at around £360m when there were 180m shares in issue. There are now nearly 350m shares in issue. 80p a share might be achievable if all goes well.

"May be required to indemnify GSK or Pfizer". Bizarre but surely most unlikely.

AGL and STX are not the same. Cancer is a much bigger market than iron deficiency. AN will see this through to the exit.

Well it's 80p this time. Disgraceful.

Apologies for posting incorrect information re the last placing. Look forward to announcement at 7am.