Member Info for OfficerFigby

They will keep drilling now till they find the oil.
Up down and sideways.

Tells when they find it. I reckon!

Finally someone who agrees with me!,

Think what they could have done with the the 2019 divis and share buyback... $100m.

... Perhaps some spent perhaps buying assets in Covid.

And another $100m this year.

Or yes sure in high interest account for a bit, pay off debt. Another $10m pa gained back from interest. would be more profit in results.

$200m has been spunked on what exactly.? could have even sorted the gas issue or done pilot in another zone. CRAZY.

Especially if they have now messed up the recent drill (no imminent results out yet) **** happens. it was only a months cash flow.

34ads - you got the PSC? I never had it! Like to have butchers.
By all account MNR have GKP over however many barrels there are left at Shaikan.

Unfortunately I just can't see how the PSC should ever allow such a great valuation here.
30% profit oil allows us to make $8 /barrel at ~$70 barrel I had a a while ago.

At 15% its all down hill!

I'm sure I remember in 2018 when the cash held was going up. It went down and was explained by a lumpy drill payment partially in advance, sure they negotiate contract price b4 hand. Any way with the money invested in 2018 and the rest the production should be higher and the most obvious clues are the in performance of VAS field. Which they bought for some millions.
In the low gas prices they have bought a new license And have least fully paid for one drill now finished and partially another, on-going. So expecting lumpy reductions in the cash when the amounts get paid.

All the issues go away if they can get about 6-7K BOEP this year.

The issue was always what where they going to buy with all their cash they kept is local acquisitions have been on and off and challenged in courts all the time.
As Krok says the new licence will mean cash going down w/o immediate return this year. SC needs processing equipment.

Whatever at 6-7K BOEP and current prices finally being realised it will be P/E 1-2.

What I mean is was VAS actually Novinskiy's?

Enwell Energy
The company was founded in 2001. It has a special permit for commercial development of Vasishchevskoye gas condensate deposit (Kharkov region), which is valid till 2032.

Marketable products of the company: natural gas, gas condensate.

Krok,
With all this apparently wasted drilling expenditure sunk in.
I guess the fear could be the man in charge doesn't care about drill results or flow longevity as perhaps the drilling contracts are to his own teams?!
I wonder what is in it for him? how does he make anything out of this enterprise?

What about the buying of actual fields themselves did he own any of the bought assets. I wonder.

Hi Krok,
thanks for those posts. Better understanding.
The weakness for both ENW/JKX is well flow rate depletion.
Last couple of SV wells look to have fallen off pretty quickly.

JKX fall off in Ukrainian well production also looks bad.

However, at these gas prices it doesn't matter I guess!?

Roll on the return to 60p.

Krok,
Your know stuff and are somewhat local.
The gas price has precipitated a change in you opinion of ENW prospects this year.?
I agree 60p would make sense with prices already > 2018. Means $20m a quarter in the bank for ENW.
Recent interest in JKX will perhaps kick start some interest here next week.
Are you already back holding big here or not?

Despite all the problems production is rising year on year. Things here look steady compared to JKX.

ThE gas price issue in the Ukraine: is that a direct result fo supply restriction from Russia. OR are there issues in Russia with prices spiralling there. I wonder as Prices in Europe seem to be because partially at least because of restricted Russia supply. With Nord stream 2 coming on line soon things might change in Europe but not Ukraine?

It is a slow moving company.
Drilling is slow. Testing is slow and steady.

They appraise the various regions and chose which one to produce. Previously they had to change the region after a non consistent flow was found in the target.

Would we prefer bad news/good news roller coaster. OR just the best final result reported.?
End of Q3 is End of September.

https://www.investi.com.au/api/announcements/fme/e5fbbf2f-dbe.pdf

we hope! come on!. In Bandy we trust!? :P).

Hi TITM
appreciate your concern here. Just looked and my ISA held RMP are now converted TO FME and consolidated to new values in both ISA and SD accounts.
Fingers crossed.

1st day of trading was today on ASX.

23c ASD.

Which converts to old (RMP) money as 1.743p.

Thought I was agreeing with Candid who go t same valuation. But seems like post dissappeared.

Someone (i.e. someone HNW) should hassle Bandy that we might be offered a contribution option with a RI at 10c equivalent just before UK relist. FREE MONEY.

Krok, agree with what you say about Novisky.
Oldholder has it wrong historically proposal was never to take over fully and delist. That was the competing proposal. He can delist tomorrow with no cost as >82% voting rights.

But I think ENW going to profit now with rising gas prices. Cash goes up mate!

The new fields will hopefully give some good news at certain point but not sure if fast enough for some here.

June 2021 10 724,91 8 595,07 12 215,80
May 2021 9 296,81 9 088,74 9 395,88
April 2021 8 098,53 7 775,13 8 248,40
March 2021 7 549,69 7 573,32 7 546,99
February 2021 8 177,84 7 930,89 8 205,51
January 2021 7 924,65 7 591,10 8 040,77
December 2020 6 329,75 5 943,76 6 344,48
November 2020 6 101,31 6 186,71 6 039,92
October 2020 5 983,81 6 051,61 5 555,96
September 2020 4 702,90 4 521,84 4 853,50
August 2020 4 238,69 3 560,04 4 727,24
July 2020 4 087,61 3 031,42 4 862,82
June 2020 3 692,34 2 800,86 4 582,35
May 2020 3 701,52 2 526,35 4 692,85
April 2020 4 698,41 3 890,97 4 793,42
March 2020 5 303,24 4 150,00 5 306,01
February 2020 5 764,30 4 470,80 5 796,41
January 2020 5 763,78 5 038,03 5 793,02
December 2019 5 307,08
November 2019 5 819,78
October 2019 5 140,78
September 2019 4 702,90
August 2019 5 503,38
July 2019 5 756,54
June 2019 6 664,67
May 2019 6 976,50
April 2019 6 904,48
March 2019 7 921,16
February 2019 9 204,88
January 2019 9 822,93
December 2018 11 736,40
November 2018 12 062,83
October 2018 12 385,83
September 2018 11 389,95
August 2018 9 786,37
July 2018 9 589,67
June 2018 9 304,39
May 2018 9 007,57
April 2018 8 647,78
March 2018 8 305,9

From Half year report:
"REVIEW OF OPERATIONS
Corporate
During the reporting period, Red Emperor continued t “Re-admission....

...The Company has recently made an application to ASX in respect of a proposed transaction under ASX Listing
Rule 11.1, which is under consideration, and the Company’s ordinary shares remain suspended from trading
on both ASX and AIM."

So in hands of ASX regulator?..

Which presumably refers to investing in the Panton Sill project in some way. As reported in Western Austrailian share news.

Hot copper Aussie Forum reporting that RMP buying into The Panton Sill project.
Aussie PGM mine prospect.

You can say all the failure business all true. But the company has become just a nigh risk venture natural resources play. WINX was just the last one, and when each hasn't worked out it has gone into into hibernation. The alternative is going bust probably.

It seems that they were in for the Borba gas drill but companies couldn't agree and SGC went on alone (drilling now).

Obviously holding shares of a company going into suspension is a bit of a risk. But then going for voting management out while suspended will only give one outcome IMO.

Yes I can't help but wonder if there is som kind merger going on? How crazy would that be either SGC or XST get RMPs cash and London lsiting and RMP get % of Borba.
Perhaps with a rights issue as well.

It seems to me RMP does well not issuing to many shares at low prices using timing and London exposure well. Whilst SGC/XST have issued shares like confeity!
But they have the assets.
RMP doesn't have a business and has failed in all the projects it has previously tried.

BWFDIK.

Hi Mate and all,

IT's on after all...

Trading halt in ASX pending aquisition announcement.

Ann: Trading Halt
Release Date: 20/01/21 09:22
Summary: Trading Halt
Price Sensitive: Yes
The announcement content will be available in 15 minutes at 09:42

Yes Yes. But still no idea how shares obtained etc. ;-)

NO! Mikey you tell US! ;-). We have no idea!