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LEXION I agree I just felt like I was maybe being optimistic haha,there’s is so many comparisons at 3-500M mcap some in very unatractive regions aswell.

£16 with a rise to £20? This has to be a 250mcap company all day long... I have 2000 shares and I plan to sell 1k @£20 and 1k @£24 and I don’t think that’s true value to be honest.

Hopefully could be a good year for all of us, I’d like to see rkh at 70p by the end of the year...Sorry I mean £7,nigoil. ;-)

Same boat nigoil, I’m waiting for RRE readmission and should have a healthy profit to put in here. Hope some of you guys got in the other week when I posted it on here.

Thanks Densiiil much appreciated post,sorry about £ and $ mix up.
Truly an incredible deal for us then.

Thanks Densiiil much appreciated post,sorry about £ and $ mix up.
Truly an incredible deal for us then.

Just read a post on twitter saying asset retirement obligation is £729M ? I’m not in the industry so not sure if this is the same as DSA which has previously been said to be £878M. Is this the same thing?

I would have thought so as AA investment strategy is to be profitable sub $50

Been at work all day so only had chance to scan read rns

Ah ok, for some reason I presumed they would have a similar opex, so we are looking at 210M a year then..

This has to be £24 a share, so many similar stocks producing similar amounts and the cheapest is the bid for Ophir at £380M (which might not even get accepted yet,robbery.) Similar reserves and similar production, they have a couple of fields to price in with Tanzania and Mexico which is why I have discounted RRE to £300M but this has to open £20 plus ,minimum

So DSA $878M gross - $350 contribution $528 left for RRE roughly $400 after relief, is that right ?
Quick calc at current oil at £30 profit at 24k a day RRE will total 2.1B EBITA in the next 8 years to get through the 70M reserves.

Short term I mean. This has to be worth 300M minimum now £24 a share

£20 a share now easy surely?

I feel like this is just beginning of a big price correction here, hope no one gets caught out and sells to low!

Forget that, Just read chrysao already own 35% and are meant to be interested in bidding on the fields so I imagine they would get first dibs on that

What’s anyone’s thoughts on chevrons assets which are for sale? Something like Erskine which produces 5k per day gas condensate would fit nicely and gas looking ever more attractive for the future?

Shear water sounds like it makes alot of sense.

Does everyone still think a divi will be paid with a potential acquisition in the pipeline? I’d personally rather put every penny into getting to that 20k a day mark but I suppose that’s the beauty of this share, it’s s win win from here.
I loved that line “We are the cheapest in the North Sea,so we bought more of ourselves” or something along those. lines..

Thanks for your reply LEXION, I have found that the ratios tend to be in the range you stated with the bigger players,20 usually being the highest but I suppose that maybe with the size of the company and maybe less risk factor...

Wasn’t very clear with that. From what a can gather p/e of x5 would still be very cheap and attractive investment,I’m Just wondering what other stocks seem to settle at in regards to P/E before becoming overweight.