Member Info for Rickylfc5

Why do they have $8.5 million of oil in inventory?? That’s nearly 300,00 barrels and would nearly double Q3 revenues if sold ??

Just looked at the latest presentation again and by the end of next year (unless they spend cash on an acquisition or something) cash will be around £30 per share and production will be approaching 30,000 per day (for 2021) . EPS will be around £15 at current oil price.

Looking to get into Barc and I have analysed the charts and I think £1 is on

Ebitda of the enlarged group for 6 months $115 million and production costs of $28

Don't know why mine was deleted?
I said that the reason that the administrators were called in was because of the failure to pay installments on the loan MRS took out in May. Quite bizarre when you consider that they must have missed payments immediately after taking the loan out and surely Brenton etc would have received plenty of nasty warning letters / communications that could have triggered some kind of alternative action (and averted the appointment of administrators) I also speculated that Brenton was having some kind of breakdown considering the ongoing pressures of MRS and the heavy handed overbearing problems of dealing with that tw*t Zorbas

Also AA said there is $300 million available for acquisitions equating to $1 Billion possible purchase (with borrowings) so the $300 cannot be restricted

Exactly Jono - and if they had issued the 26 million Alerion shares to raise cash instead of buying a scam Company we wouldn’t have defaulted on the Hermes loan and would still be trading

I should have realised that the difference between 89 and 90 million was too much for you to grasp

90 million includes the Alerion scam - did the word ‘friends’ throw you??

That clown Leon Hogan and friends will lose over 90 million shares of value. If they try and take it private they will lose the assets which are secured by Creditors i

Share issue must be in the offing

40% is a minority Leon but have you considered that many (most) well run Companies can count on the vast majority of shareholder support. In the world of Zorbas and cronies they’re aim is to get sufficient shares to stuff the 40% minority for personal gain (overvalued acquisitions / introductory fees / websites development fees) justified by lie after lie after lie - you give Wales a bad name

Let’s face it without the 26 million shares stolen from us for the bogus Alerion deal the board would have been toast. And before you say about an independent valuation - that was also a scam. All that the valuer did was ask Zorbas et al how much Aleriion would make so they pumped up a fairy tale figure which the valuer multiplied to arrive at a ridiculous valuation. How can Zorbas and cronies believe that they are doing a good job when nearly 40% of shareholders are dissatisfied???

So cheap that RRE could buy every share at this price and if they left one share trading that share would earn over £100 million per year !!!

I think September could be crucial for RRE. The recent Director purchase’s probably mean that news is unlikely for a few weeks which takes us into September when they announce the half year results. A deal could well be in discussion and the half year report will be the trigger in my view as they will need to pay a divi if a deal isn’t being planned

Slow to release production numbers is likely to be negative - I suspect a miss here

I suppose (with the Director purchase) it is unlikely that there will be any significant news for a few weeks

Bingo - why do you see fair value at where we are now when it just equals cash in the bank and next month it will be £1 higher and every month another £1 going forward

Earlier this year I had a twitter exchange with Leon / Jacko who was trying to convince me (and others) that MRS had the refinancing sorted and EPS would be near 4p. Complete clown didn't realise that the refinancing was too late to affect the financial year (and it wasn't concluded anyway) and that MRS had a tax charge for profits so making even half of his estimate was going to be a struggle. I guess he was just ramping as usual!!!

They will have £25 in the bank ish by the year end (unless they do a deal) if they buy more production this could go £50 / £60 / £70