Member Info for onlyprofit

My average is 42. Hoping to double my 21k investment or triple soon.

Up 12%.

In my opinion, farm out approval and pre-drill 0.12

My only concern is the length of the suspension period. Can anyone tell me how long a suspension lasts on average? Is it possible that the shares are suspended for 6 to 12 months?

This guy on Twitter predicted the offer news this week. It seems like it is not happening, or it could be an intraday RNS. Let's see if the RNS lands this week. (I am holding 50k shares)

https://x.com/oilplusgasnow/status/1906597985208742383

Increased from 4.66% to 5.01% (02Apr25)

I expect that offer to come this week.

I have noticed £24.86k buys throughout the day. Has anyone else noticed?

I don't have a subscription, however, the link is below

https://x.com/HorseInvestor/status/1906820259866374218

As per this guy the offer is this week

https://x.com/oilplusgasnow/status/1906597985208742383

Between £1.45 to £1.85. Offer this week

42.38k at 28.98

59.69k (money) buy at 27.30

Excellent post Marcus

Offer most likely this week.

Https://x.com/oilplusgasnow/status/1906597985208742383

I think the share price was down because of the following statement in the RNS:

“The Company is confident of receiving the government approvals required to enable completion and is still hoping to do so within the next few weeks.“

The market took the statement as a delay in approvals. Just my opinion.

Thanks Dicko80 :

Mkt cap £8.65m

Current valuation

Cameroon

$15m / 42.5 x 100 x 57.5 net x fx 0.8 =

£16.2m

Namibia

$2.5m / 25 x 100 x (60%net) x Fx 0.8 =

£4.8m

Total £21m

Cash from farm outs

$4,375,000 x fx 0.8

£3.5m

Cash from placing

£1.188m + £0.275m

£1.463m with warrants £0.073

£1.536m less 5% equity bought for Namibia - £0.3m

£1.236m

Total

£21 + 1.236

£22.236m

Just for deal values no value for any oil within our licences

SA we hope will also be farmed out but we don’t know details of potential numbers , I think $15 - 20m for 50%

$5-7m for 3D

$10-13m back costs

I will go with $20m (7 + 13m)but not add any value for a major and what that may add to the sp

$7 / 50 x 100 x 25%

$3.5 fox 0.8

£2.8m

Plus cash

$13m x 50% x fx 0.8

£5.2

Total £8m

That would take us to

£22.2 + £8

£30.2m

Deal values

Then focus shifts to the drilling

35mmbbls x 57.5% x $3per bbl in the ground

$60.37m x Fx 0.8

£48m

Running total

£30.2 + £48

£78.2m

This based on just $3 per bbl , on a success case and once flowed , you could argue $6 per bbl is fair

We know discussions are ongoing with the banks to get into production and the company have or are taking on additional resource to deal with that so on bank financing $6per bbl into play

£116m

So around 12 bags from current levels in 6-12 months

Company believes thali is over $10 per bbl so we are applying at least a 40% discount if not more

And also nothing in for any oil which we know there is 111mmbbls low risk follow on in Cameroon, 600mmboe + in the deeper targets

Multi billion bbls in Namibia and SA

So we then hopefully get bank financing and drill 3 further wells

Plan is to have 4 wells into production

looking at 8,000bopd gross ph1

16,000 bopd gross ph2 when we can utilise the cost recovery pool to drill the deeper potential reservoirs

Further beyond that drilling in SA - basin fan play and deep water slope , very large structures could be over 1 billion bbls recoverable and Namibia we could have that 5 - 10 times

Longer term view to see Namibia and SA could really pay dividends with spangle broker note had a target of c22p overall from memory, so worth holding on to a few to see it play out

Have to remember the journey hasn’t started yet

Please DYOR and calcs

What is your price target Steve? Short term and long term? thanks

First resistance is 0.06, second 0.071 and third 0.084.

£1.20