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The other problem with LOG is that they have 60 million options which can be exercised at 19p. I guess they would have to sell 40 million or so to raise the cash to pay for the options so no doubt that will be at a discount and then we have another 10% plus of shares in issue which is more dilution. I hope they have forward sold some futures contract because if Putin manages to strong arm European governments and get his new gas pipeline into full production then the macro dynamics can change very quickly.
dec futures above 400p/therm up 36 % on the day -unbelieveable
yes, that is what I was eluding to, rather than pure hedging. Gas prices up another 20 % today at 360p/therm - something will have to give. Im surprised IOG not flying as even if gas prices are not here when production begins.
ok thanks
Surely they have the ability to forward sell futures contracts on the basis that they are fairly certain that production is not that far away. The risk is that gas prices continue on their upward trajectory and /or they don't meet their production targets. They would never hedge the full amount but I don't understand GG why you say this is not possible - you don't have to be in production in order to trade gas future contracts. I think if they are confident about production starting this qtr then it would be prudent to sell forward contracts over the next year or so. the price achievable now will mean they can guarantee the income in their forecasts and run a variable price on the excess gas produced. A very favourable position to begin. Although unlikely they would look rather foolish if the gas price collapsed and they just relied the day ahead basis. its not the way I understand that O&G companies operate in leaving pricing to the variables of the gas price ( especially when they are clearly in the money)? Happy to be told why a company would be totally unhedged on their revenue stream?
Gas touched 300p/therm up 20% today. Im hoping that IOG have a hedging strategy in place. I don't think anyone could throw any criticism at the bod for locking in those futures prices. The immediate profit taking has now finished, non of the II have been selling by the looks of it and so my thoughts are that the sp should touch 35p in the foreseeable future without any adverse news. I picked up another 250k today at circa 29.75. Heres hoping GL.
May I kindly remind you that what you have posted is potentially libellous and certainly false.
If I read any other similar comments from yourself then I will be contacting both LSE and the FCA where you can carry on your claims.
Best
Rupert
Hi RKB/ Canaries,
the last funding round at Zuuse was as $1AUD and Fresho at 0.6 AUD( 3415723 shares held). We are very positive about the future of both companies and the value to Primorus.
We will update as soon as we have news.
Hi Testing, included in the operating costs is a negative fx movement( mainly due to AUD Fresho/Zuuse of £81k) as well as some one off costs involved in the restructuring.( compared to a £2k positive fx movement in the previous years first 6 months fx movement) - so approx a 40 % reduction.
Once the court has signed off on the capital reduction process then the company will have the ability to pay dividends/ share buybacks( if the board deems it appropriate). Clearly we feel the company is undervalued( but that is an individuals call).
We are working to create an investment company which is different to the normal model seen on AIM - it doesn't happen overnight but we are carrying out what we promised and hopefully all shareholders will be rewarded.
ATB
Canaries,
the parties have left themselves to the end of the year to complete but this includes a contingency, we anticipate it will take half this time.
Congrats to Invinity Energy Systems today(IES) on their latest deal - hopefully looking good for Enerox
https://www.lse.co.uk/SharePrice.asp?shareprice=IES&share=Invinity-Energy
Really looking forward to when MUST relist, especially when you compare market valuations of companies in the transitional energy space
If anyone needs any of the points of the investment clarifying please feel free to contact myself( email/phone nos on the website).
Apols if not clear, we will try and just include the salient points in future.( I guess less is more!)
Best
Rupert
A couple of interesting articles just been posted in the last couple of days - re new licences and bacton.
https://www.ogauthority.co.uk/news-publications/news/2021/new-chapter-for-north-sea
https://www.ogauthority.co.uk/news-publications/news/2021/oga-bacton-energy-hub-area-plan-hydrogen-potential
I would like to wish all Primorus shareholders( and non shareholders) their family and friends a very Merry Christmas.
In what has been a terrible year for everyone, I am certainly hoping for a much brighter 2021 where all can prosper together both in wealth and health.
All the very best and stay safe in these challenging times.
Rupert
Apologies we have had to update the email as someone decided to borrow the other username.
The requisitioning shareholder/proposed board members have set up prosperousprimforall (AT) [the one starting with G] (dot) com for existing shareholders and interested investors to message us.
The requisitioning shareholder/proposed board members have set up primbrighterfuture (AT) [the one starting with G] (dot) com for existing shareholders or interested investors to message us. We appreciate that there may be a lot of questions out there. Whilst we actively promote and seek proactive shareholder dialogue we are not avid followers of the bulletin boards and we are therefore keen to distance ourselves from participating in them, especially at this time. Also, any views espoused by anyone on the boards are not our views, they are highly subjective and we would urge that they be treated as such. Please feel free to address any questions to us directly and we will attempt to respond, to the extent that we are able to regarding any particular subject matter, as soon as possible.
If you want to speak on the phone then please incluse your nos. and I will call you no matter what your holding is.
The requisitioning shareholder/proposed board members have set up prosperousprimforall (AT) [the one starting with G] (dot) com for existing shareholders and interested investors to message us. We appreciate people may have questions for us. Whilst we actively promote and seek proactive shareholder dialogue, we feel these forums are for personal views and are keen to distance ourselves from participating in them, especially at this time. Also, any views espoused by others are not our views, they are subjective and we would urge they be treated as such. Please feel free to address any questions to us directly and we will attempt to respond, to the extent we can, as soon as possible.