The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Push you stick to the engineering and leave financial matters aside. You are pretty clueless on finance. Creditors need to be paid but Angus owns the site. As long as production remains solid it is now all about gas prices. At $2 we do well at 40c we are toast. Place your bets long or short and enjoy the ride. I am long. GLA
Bv the issue with GL was missed deadlines and resultant cost. Production was circa 9 months late despite repeated assurances that it was imminent. We missed the spike in oil prices and committed to hedges we couldn’t honour . The cost was huge.
Thanks Horult. I saw that from the original testing but was unsure how that would translate when we went into commercial production where there can be multiple tap ins to the same well (pads , sidetracks etc...I am no oil expert, lol!)
I think that posters sometimes forget that some people have a lot of money. Just 1% of a £10m portfolio is 100k. Lots of wealthy people have their main portfolio professionally managed but like a gamble on the side. Just because they invest 1% of their portfolio it doesn’t mean that they know more than the person who invests 5k. Actually the person with more modest resources may do more due diligence because that 5k is important to them. We have had massive volume over the last week or so. The person who bought 200k worth sub 2 p may be happy to sell 2m shares and hold the balance as free carry. What I am saying is that a few large trades are not in themselves meaningful.
Offy, I have run a company for 28 years. We pay our bills through cashflow so monthly turnover is very important (as are monthly expenses of course). My point was that the interest is serviceable but we need the refinancing deal which should be forthcoming on interest serviceability grounds combined with ability to pay down the capital.
WG at present they only need to cover the interest and with £1.5-£1.7m T/O PM they can do that easily. I have read the RNS in detail a number of times and prefer the 1.5p option to the 0.4P option, lol! The global refinancing would be a game changer here when/if agreed.
Singhie, You have been asked to stop. The jury for most is out but again you state a factual falsehood. During Covid we got our vaccines before Europe and they were livid. Yet you say no net benefits. Swings and roundabouts. Now lets get back to Angus.
Singie, You have been asked nicely to stop posting political views here. A few factual points though. The conservative government campaigned to remain in Europe. They lost the referendum and Cameron resigned to respect the will of the people. Also there is a strong argument that the benefits of Brexit would take 10 years to emerge as it would take years to unravel red tape and in the meantime our civil service obstructs as resolutely as those in Brussells. For most people the jury is out.
Pilot, you keep talking about the sp without understanding the business and impact of a JV partner. An aggressive partner building 3 high pressure wells per square mile , over 51 square mile, at 1000 -3000 bopd. That is the potential upside. To what extent that is achievable will determine the sp combined with dilution, oil price and the amount of extractable oil. Spivs and traders will play but ultimately the profits of the business will determine the market cap. I have no idea what the sp will reach and nor do you so stop making a fool of yourself.
Pilot, you said the saviour of COPL not that investors needed the JV to get their money back. The saviour of COPL will be well makeovers that lead to commercial flows of oil with resultant cashflow and profit. That is already well underway.
FWIW I have always believed that Art deliberately neglected maintenance in order to get CUDA so cheaply. That has bitten us hard due to poor weather, failure to rapidly increase oil flows thereafter and resultant wonga financing. From here it is simple . We have the oil ,we need to access it. 51 sq miles. 3 wells psm. 1000 -3000 bopd per well. The prize remains which is why we all invested.
Thinking things through logically the JV is the real game changer here. Yes a JV brings cash potentially but the real value is the acceleration in the speed of accessing the oil. A barrel of oil today is worth say $85. What would you pay today for the same barrel delivered in 5,10, 15 , 20, 25 years.? No surprise that the NPV of the oil decreases with the time to access it. Thus NPV of oil in the ground comes at substantial time related discounts. Now enter JV partner with deep pockets who facilitates oil extraction 10 times faster. The value rockets. I accept some of the reasons that posters have posted for the rise but sentiment aside and allowing for the fact that the JV is not signed this would be the financial game changer. Hope this helps.
I also have money in COPL which has nearly trebled in just over a week after a massive fall . Fortunately having used the fall to buy more my B/E is on the horizon and the same thing applies here. I thought this was a steal at 1p taking a 2 year view and still do so at this price it is incredible value. To me the current SP defies belief and is the product of GL’s lack of financial discipline and lies. Trust will be rebuilt solely through robust production and firm commodity prices. If you believe this will happen this share will reward you from here. GLA
U complete and utter dog (UDOG). SS the great diluter and destroyer of wealth aka Billy no shares still taking the p1ss out of investors.More new lows. Sanderson you are a disgrace glad I sold. Hope you rot in your soiled underpants.
As an LTH I sold half on JV news hoping to buy lower. Have had to buy back higher, lol! But by buying another 500,000 on top have still managed to increase my holding and lower my B/E. Not what I planned but better off than a week or so ago so not all bad! GLA