If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Well Tony - I would not put too much weight in that stetement. I guess it was the only reasonable lender. Banks are reluctant anf family offices want a risk premium too high or a share in that company. that's why I'm happy when we pay down our debt - cash rules and gives flexibility to do akquisitions of distressed sellers. We got to get rid of Polus - that would really be a milestone. Perhaps THEY sell distressed....
In fact there is NOTHING new in this presentations - besides some updated production data.
They Even left the ridiculous mistake in the "2023 Revised Budget" on Page 10. When you look below the graph you see Q1 2022, Q2 2022 etc.
OMG - can someone skilled take over the IR and prepare the Powerpoints??
Stas20
Thank you!
Aditional Question: Did you use the following Email?
i3energy@camarco.co.uk
Conclusion: the Contact form on the website is useless for IRPurposes. Another odd insight. Considering what we pay for G&A someone should read the posts in a timely fashion.
"at an attractive 2P acquisition cost of US$1.7/bbl, or less than US$1/bbl on a 2P + 2C basis".
That is not even partly true. t only accouts for the 9 Mio. face value. Since we have to pay up to 102 Mio$ in the Abandonment Trust Fund, the real igures would be some 19$ for 2P and 11 $ for 2P+2C.
Given that the payments will have to be done faster than the revenues flow in it is further strenghtening the liquidity - which should be our main concern now.
How many free Cash flow per annum do you get from 2.000 be/d? And how long will it take to recouper the roughly 100 Mio $ Cash outflow for the abandonment facility? I guess some 6-7 years - do your own math.
This deal is not brilliant - it is hardly mediocre, stressing liquidity.
And the misleading wording (if I was not polite, I would say: They lie) leaves a bad taste and makes me coutious.
Sold out and will be at the sideline til Akatara Cash Flows.
I got no answer - on both of my questions - as usual. I use the contact-form on the website , perhaps noone looks after the incoming mail?
Very annoying. But in general this should work. Beginning of 2023 I got an answer - like 3 Weeks late.
I3 was always leaky considering news. Thus: If some positive news were imminient - we wouls see it in the shareprice already.
What we see is decline after decline - which implies bad news ahead.
Hope I am wrong this time...
Putting it all together we are about to sell > 75% of our PDP. Reason: In former award of options there was just a “chancge of control” clause. This time, we’ve got that odd > 75% clause.
For sure it had to be Central Alberta. Less certain – and perhaps only parts - Waipiti. Would make sense since it’s the lowest IRR-Values and the longest payouts.
With the money we’ll develop Simonette an Clearwater faster, book new locations, add Reserves, etc.
Which means that all Canadian Options and Awards vest immediately.
So far so good – provided the sales price for Central Alberta is high. That’s something I can’t really imagine given the current gas pricing – but who knows. In doing deals Majid was always better than in doing IR 😊
BUT!!!!!
Somehow they decided to sink some more money in the North Sea. Seems they want to partner with Serica in developing each others asset. Really crazy given the political uncertainties and the poor assets we have in the North Sea.
If I am right there are two big questions:
1. Sales price for Central Alberta
2. Amount of Money that’s dedicqted to be sunk in the (North) Sea
Did not do calculations on both. Just sit at the sideline and enjoy the divi, the show and the guessing. And once more it reminds me in “spread your investments” – you never know, when management goes crazy….