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If anyone wants to buy lots of shares, they can.
A buy is also a sell.
There is not much volumes. Not much interest (in the shares at least).
All the II’s that’s were interested surely bought into the placing. The situation here could simply be everyone has already taken their positions. But there is a group who did not choose to purchase SAVP shares - they were exchanged in order to release debt from 7e, end it’s entirely possible they want to exit for whatever reason, but not totally destroy the value of their holding by selling at any price. IMO that’s the overhang. While that exists there is the possibility of a lower SP.
When (...) we are a producer, with dividends etc I would hope the volume would increase for obvious reasons to help take care of this. Let’s just hope we don’t get any bad news!
Bushiya took 16 days to drill. been drilling for 15 days so its likely based on previous performance they are through the main target reservoir section.
I agree with that Jibbo.
Above all else, when I heard of the additions I was convinced of the strategy. This is not a joke, and it is not Mickey Mouse. These are not token appointments. This was an indication of the intention of this BOD’s intent.
The BOD that now has spending power.
I am comforted that the BOD has this experience and representation. I am in the buying category because of it.
If I manage to completely forget the SP, and I imagine what I could have done if I was at my best in the situation Dan was in with HUM, I could not have done better. (That’s not to say he could not have done better or that I am not crap..!, clearly there is a debate there!) but it is my opinion that the BOD have delivered. It has been strengthened appropriately which I am encouraged by and we are managed responsibly considering the increasing cash position.
I come back to a post I made over a year ago. The longer this SP stays low, the bigger the spike will be. And on balance, I still believe it.
Thanks Jibbo.
I get your points. Not much has been made of the additions to the BOD and their background. What do you make of those additions? Do you think they add value?
Thanks
I seriously hope that was a joke. You should be pretty embarrassed with that.
This is a successful company. If it was your everyone you know should think you were the man. And you would be.
Only question here is the SP. and why it is so low. That condition exists because the company has delivered and, in what seems to be a disconnect the SP is very low.
Some good points.
In all seriousness (I agree with some of your points) do you think the current SP because of the CEO? Specifically your points you mention? Is there that perception of Dan in particular (not the BoD) that is putting investors off in your opinion?
Hahaha. I liked that post visitor.
I bought 32k odd more shares just before the bell. Not to say I have any insight above anyone else, but I Have been a buyer for over a year and a half, and I don’t really see a reason to change that at the moment.
In fact I am staggered I can buy some at this level still. I do not believe anyone would have predicted this a year ago. The SP itself is unsettling. It is low compared to my expectation, but I don’t believe it can stay like this.
25p was support for a long time so I guess this is the number to watch. I think the volume today was pretty large compared to recent months too - so I simply think it will get to a point where people can’t resist buying and whoever is selling can sell more.
Best guess you get for cash from 7e is in a broker note posted on this forum recently. Think around 35m to the end of June was mentioned??
Very good news. Also great approach to continue drilling - clearly with existing cash resources until completion of the transaction. That really is as good as it can get I think.
Some very good hints in there as to what is coming when cash from the 7e transaction is available. They are going to have a pretty good wellstock by the time they test and complete them. Early production/extended well test equipment within a year also would be a pretty major milestone and a brilliant way to develop
Niger. There is also the possibility or multiple EPF/EWT scenarios on different licences too. That’s what I would be considering now if I brought in a second rig.
Not me your disagreeing with.
It’s information the company has released. Interpret it how you want.
No point picking an argument. A few million does not really matter at the moment. Without 7e cash flow there is a constraint. It’s means a different plan is required. Surely you can see that.
This is a pointless conversation. Wish I hadn’t posted
They are having a lovely drilling campaign. They may we’ll continue it without completing my the 7e transaction, we have been told that we will soon find out. There are multiple options it seems.
For our share price, I believe the market would like to see the completion of the transaction as stated, and the funds that brings going into niger. I don’t think the continuation of the drilling programme without the 7e deal completing would have the same effect.
You would be mental to think otherwise. Not going into it anymore, can’t be bothered
Wrong. From RNS 22 dec 2018. Not tested. Drilled and logged:
Following completion of the Placing, the Company intends to pursue its previously announced three well drilling campaign in Niger. Drilling is expected to commence following the issue of the Second Tranche Placing Shares using the GWDC 215 rig as previously announced, and is intended to target three prospects on the R3 part of the R3/R4 PSC Area (all defined on 3D seismic). Wells are expected to cost US$6 -8 million per well for this campaign.
Wells are more than 5m. Up to 8m mentioned in placing docs. They have been quicker which is good but with full wireline suite etc I would not bother banking on anything less. Squeezing in one more well or not is really moot in the grand scheme of things here IMO. Need to deliver the acquisition
Surprised by the comment re the drill programme. I have absolutely no concerns on that front. In my opinion, it is absolutely the correct approach to take, especially when performing comprehensive logging programmes. It takes time for field data to be processed and interpreted by both service company and operator personnel (petrophysists) before that is nformation can be released. That may be your gut feeling on it but it is not mine.
7e deal wrap up is the problem here. Cheeky AK has given recent interviews to the tune of all is ok. The immediate future depends on it and I think the SP reflects that. That continual drilling programme funded from the acquired assets profits may need to be delayed or some sort of bridging to continue. Uncertainty is not great.
Of course, for balance, if there is a posssible partner waiting, it might just push AKs hand to make a deal to provide cash to continue. That’s probably just wishful thinking though.
Nope - a private investor with no experience of the oil exploration and reservoir/geological understanding might not understand what has been said in terms of the thickness because they have no frame of reference (apart from other RNS info from other companies - billions of barrels and massive pay zones - horse hill anyone...?), but over 72 feet of potential pay is significant, and recovered oil is significant, coupled with the 3D gives significant info. That�s has currently been used to interpret this discovery and there is clearly confidence in this, hence investing in progression of a possible EPF solution. Well testing will obviously then allow them to determine rates and volume of the reservoir. In all, with what we have been told at the moment, it looks very good. The market likes to hear rates, but in the case here I believe completion of the 7e deal is holding this back, as that will provide cast low for further drilling, testing and completion of current and future wells, and the EPF etc. I am positive about the moves being taken here in regard to the obvious emerging plans to progress the licences. An EPF/trucking solution could be relatively quick also (12-18 months entirely possible etc)
Picking up more of these. I expect drilling to continue beyond the initial 3 wells, hopefully announce the completion of the transaction over the next 4-6 weeks, clearing the way for more acquisitions that are surely going to come. There is a good opportunity here I believe. Probably will take a bit more time for the market to get over last years suspension and complicated (bizarre) book build and placing. How long it takes to wash out any sellers who have been provided an exit from 7e debt is anyone�s guess. Taking a 1 year + view here. The company is in good shape with cashflow and funding available. The worry is a repeat of the last transaction destroying the sp, but on balance my current view (with a discovery or two more and the transaction completed) is that this is an entirely different prospect with a broader range of options to complete any deals. Has potential for exponential growth from here imo
I bought 2m more today .......
Thanks juxtapose, Do you have a link? I would expect 40 API to be at a premium