Member Info for rossannan

Rugby2015

It’s about what has been obtained for the cash that has been spent and it’s about it becoming increasingly clear that the LIND facility was never just going to be a backup.

Rugby2015

But look at the cash balance then and now...

shaun86

Look at the 24th May RNS, for example. Do they (Fastbase) not come across to you as one of those outfits that perhaps only talk a good game? It would obviously be great for GUN if the Fastbase IPO suddenly materialised and those Fastbase shares were suddenly heading for GUN’s coffers, but it feels a bit like rainbow chasing. I prefer to focus on GUN’s other opportunities.

A depressing thought.

shaun86

You cannot deny that the picture of Fastbase drawn by the article chimes with Gunsynd’s experiences in its dealings with Fastbase. And there is no investment, just a contingent right to a payment which I suspect it would be unwise to include in any valuation of Gunsynd.

shaun86

“The article is also written by a competitor so would expect nothing less from one of their competitors.”

That argument doesn’t really hold up - look at the favourable light it puts on Who is Visiting and Leadfeeder, whom you would presumably also describe as competitors both of Peak Demand and Fastbase.

shaun86

Have you read these exchanges about Fastbase?

https://www.peakdemand.co.uk/blog/the-curious-case-of-fastbase/

I wouldn’t set much store by anything they say.

I doubt they are being delayed. The year before (2016) they didn’t come out until nearly the end of September. We will no doubt hear more about Steeldrum in the Q3 update in October.

Jon009

No rush. H1=Q2, but my money is on nothing spudding until Q3 (2019).

LGO-fan

All this talk of onshore vs offshore has brought to mind a potential new moniker for you - turbidite fan!

PipeDragger

The earnings and net debt as per the quarterly accounts are interesting metrics. We will shortly be able to slot in the Q3 figures and the picture should become that bit clearer:

Q2 2017 (1,848) Net debt (13,814)
Q3 2017 (1,203) Net debt (14,598)
Q4 2017 3,653 Net debt (8,192)
Q1 2018 125 Net debt (4,922)
Q2 2018 (692) Net debt (3,734)
Q3 2018 ? Net debt ?

seems to be all that it takes these days. Really, Admin?

jeffry

That sounds about right!

wraith

It is sometimes best to take Malcy with a pinch of salt. “I recently spent some time with Neil Ritson who is without doubt an impressive oil man” is the Malcy quote that comes to mind. He tends to flatter management...

Lancygeo

And lots and lots of CAPEX...

HH

You’re forgetting that towards the end of August this statement appeared in the Q&As:

“The Company is seeking to complete the Steeldrum acquisition within the next few weeks and has made good progress to date on the outstanding matters required for completion to come into effect.”

This suggested that the Steeldrum acquisition was likely to complete in Q3. My point is that, now they are talking about “Q3/Q4”, this seems unlikely. If an RNS says that something is going to happen in H1, this generally means that it will happen in Q2 (at the earliest). In the same way, I think you will find that Q3/Q4 in fact means Q4.

Lancygeo

Really? I think the Q3 figures (now likely to exclude Steeldrum) will be the judge of that.

SoupChicken

For me, the medium term takes us to the end of the 5 years that LK has talked about (and which we are over one year into). My rule of thumb is that the medium term is 3-5 years (with the short term being anything shorter than that and the long term anything longer than that).

as folk perhaps revise their Steeldrum completion expectations having fully digested the recent RNS. It will be easier to analyse the end Q3 figures if Steeldrum is now unlikely to feature in them.

SoupChicken

To be fair, he did say medium to long term.