RE: 6p the floor?20 Jun 2022 14:39
I, a semi novice investor, can't work HUR sp out at all. Bond will easily be paid off, last
load was $59 Mill, next one late July. Free
cash between $75 & $90 mill.oil price shows no sign of major downward price adjustment. Still pumping oil from well 6 @ approximately 547 Mbbls, as lifted on 24 May 2022. Slight drop in production due to reducing flow to work on well 7.
The sp keeps falling and I don't understand why when it looks quite positive to me in particular in comparison with what we have been through in the past. We are producing, we are paying off bonds, we have money in the bank with more to come. OK, if we don't have a future plan it's a bit uncertain but we are ot going bust!!! Was looking at Falcon oil the other day, loss making my cap 1/3rd lower but sp rising, HUR almost opposite and sp falling!!!!
Can one of you give me the "logic"
Financial Update
As of 31 May 2022, the Company had net free cash(4) of $139 million compared to the last reported balance of $92 million as of 30 April 2022. $78.5 million of Convertible Bonds remain outstanding and are due to be repaid in July 2022. Following the repayment, assuming oil prices remain at over $90/bbl, at the end of July the Company is forecasting to be holding net free cash in excess of $75 million. If oil prices for the July cargo are above $120/bbl the net free cash forecast increases to be above $90 million