Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Great vid, so Spud Q1 2021 and looking for a JV with producing assets to help with cash flow.
Nice Crusty, I managed to grab a few at 527 but bought before on the way down and now on the way up so an ave of 689 currently, still adding when I can.
Think you'll have no issue getting back to 1.2 after the announcement for completion and then it's just the build-up towards spud, starting to get exciting :)
Only a matter of time now then Chris, lets all hope there are no delays by the Tanz Gov and we get cracking.
Morning all, hope everyone is keeping well.
Great to see a gradual build on the SP now that AEX are starting to get their ducks in a row with the Tanz gov, looking forward to the Farm out completion so we can start moving towards CH1.
Question: I've seen a bit mentioned on BLOE and on a quick look last night saw that they rose 50% yesterday with no RNS and people there also talking about a tie-up or T/O by Solo, for those better in the know:
Is this in our best interest if true?
What is there production at present and if we did T/O how far into our 20,000 5 year target does it take us?
Lots of reading to do this morning, but exciting times..
Well done Tanz, great idea and well done Frank for taking it on again should keep us entertained for a bit again.
If we are going on those three dates, I will go with the following:
June 13th - 1.5p
Aug 3rd - 5.8p
Christmas - 3.3p
Quite conservative but I think that we will have a steady rise over the next month, then a bit of a spike towards spud if it happens in July and then a slight tail off towards year-end.
Whilst I firmly agree with you on the sale of the asset it would be nice to see the drill go ahead just to realise some more growth, will see what happens I suppose but a quicker sale now means the opportunity to buy readily producing European based assets at a knockdown cost.
Thoroughly agree with the Trrime, the board has done well to spot the trend in prices and went back to the table to try and get us a better deal, they weren't interested so we walked away. Good Decision.
Huge top-up opportunity for all of us with higher averages and a great place for new investors to get on board.
When the licence drops we should see some sort of bounce both here and over at AEX and then the BOD can use this to leverage the price of the asset sale.
When the sale of our Ruvuma stake happens it will free up capital to allow us to purchase producing assets and start earning an income rather than wait several years for Tanz to materialise. Frustrating as we've waited so long for Ruvuma but the right call IMO.
GLA.
Not a lot that we didn't already know in the RNS today, but here are some of the highlights.
Financial:
· Revenue of US$250.3 million (9M 2018: US$311.4 million) - down mainly due to oil price, with this now predicted to rise we could recover some of that loss.
· Net operating cash flows of US$160.2 million (9M 2018: US$151.3 million) - Up due to efficiencies
· EBITDA margin of 63.3% (9M 2018: 60.3%) - More profitable
· Closing cash for the period of US$91.3 million - Down slightly due to revenue reduction but a solid balance.
· Total debt of US$1,113 million - Debt being paid down from revenue
Operational
· GTU3 commissioning complete - Huge bonus to have this now online.
· 44 wells currently producing - 18 oil wells and 26 gas condensate wells - Solid producing assets
· 9M 2019 average production after treatment of 28,877 boepd
· 9M 2019 average sales volumes of 27,515 boepd
· Schlumberger and PM Lucas reports delivered to the Company - Will help add further effiencies for the business model.
· Extended licences for the Rostoshinskoye and the Chinarevskoye fields
· The company in June began a strategic review, which could include a sale of the firm.
Shares were 4.1% higher on Tuesday morning in London at 21.70 pence each, having lost 89% over the past 12 months. Five years ago, they were worth 623.00p.
Yes, there is debt but as noted this is being paid down inline with the terms of the loans with income from our producing assets, with a historic price of 623p and 44 producing wells, there is a huge upside here and the possibility of a sale.
Time to top up for me.
Krusty, the current target for 5 years (although, like Steve I think that we may get there sooner) is currently set at 20,000 BOE per day if we're producing at that level the price has got to be considerably more, wouldn't you agree?
I do agree that the temptation to cash out once it hits my short term target is high but I've been here for . a few years and another 5 won't hurt will it ha ha
Cheers both, interesting to see how it all plays out, hopefully not too much longer to wait.
I'm thinking...
Relist at 7.8p
Dec 31st - 12.8p
July 2020 - 15p
July 2025 - 100p
Forever the optimist :)
You're talking about the new opening price for Scirrocco, we are discussing the Open Offer to existing shareholders.
Thanks Steve, 1 for 1 to get £18M would put it at about 2.849 then
Also spotted that its now no longer showing as suspended CP, does that mean next week is a certainty now?
Krusty, I thought the price would be based on the suspension price, if it is based on the new NAV is that really rewarding us LTHs?
I hadn't actually considered a premium price AA, is that often the case in these scenarios? Again, don't really feel that's rewarding us too much for sticking with for all these years.
Roll on next week, hopefully we will get the answers we all want. :) GLA
Doing the same John.
What do you (and others) think the Open Offer will be, 1 for 1?
Will the discounted price be off the existing price, i.e 2.42 at a 20% reduction for us long term sufferers (holders)?
I know it's all speculation, just excited to see this all coming to fruition.
I agree with that Crusty, do you think given the new income potential from the north sea that SCIR would be in a position to takeover AEX or is that too big?
Assuming they didn't know, does this have an impact on the other two I believe pending deals that have been mentioned here?
Also, I am sure that Solo/Scir knew that these works would need to be carried out in 2020 and we know that we have the income to cover it, is this RNS just a bite due to nose out of joint as not in the loop so to speak?
Morning GimmeShelter, I am unsure, there was a lot of noise about positioning for a takeover/being in a great position for a takeover a few weeks back given the producing Assets that the company has. There is substantial debt here but that's being paid down from the income and with the oil price looking likely to rise in 2020 that's also positive from an income perspective. let's not forget that this has a year high of £2.
Forms 8.3 and 8.5 are disclosure forms required by the Takeover Panel to clarify material interests in the share register of a UK-listed company that is in a bid situation. Any person or institution that has an interest of more than 1% of the share capital of a company in a bid situation (on both sides of the transaction) must disclose any dealings in those shares and their resultant position.
Form 8.3 should be completed by the shareholder to clarify what they have bought or sold and the resultant size of their stake. Form 8.5, meanwhile, should be completed by any principal trader that has dealt in the shares.
These disclosure forms are required as part of the Takeover Code which aims to ensure an orderly framework within which takeovers can be conducted fairly and appropriately.
Not a lot of chatter going on is there GimmeShelter, don't think we're heading for the rocks just drifting at the moment, expect us to get a bounce of 18p-ish, get ready to top up :)
DYOR GLA
Excellent BTB, although on Tradingview its showing R1 at 31.93, R2 at 39.47 and R3 at 58.46?
Being a bit of a novice at this so could you or anyone else confirm if I am looking at this completely wrong or if those are their suggested resistance levels?
Just trying to do my own research but as I said, a bit of a novice!!
Pretty sure I read something last week that said that any news regarding Ruvuma whilst suspended would be built into the new opening price, did I dream that Ariel? hope not ha ha