Member Info for sankeys

But they currently value the shallows at 6p, even with an increase in oil price or some excellent work overs, it will certainly prop the current SP up, but not drive it more than where we are. We need to be rolling in the deep.

*1.02

Of course those involved who are existing iis will have had knowledge of the intended placing and will have flipped a few existing shares to take the placing. We’ve seen it sold down to circa 1.2p a few times recently with bigger sells drying up around 1.05. Clearly they need enough margin to make it worthwhile - so if we believe recent sells were driven by this the placing will be 0.95-1.00p area.
I’d be surprised and pleased if it was more than this. I understand their past commitment, however this amount compared to market cap is a different ball game.

Originally some of that cash was going into a dividend, but I believe from others on here it will go to debt repayment whilst keeping cash in hand.

It’s makes RBD have a much higher beta in relation to WN, to far more degree than UJO. Anyone investing in the upside of WN will be more inclined to put money into RBD.
Also given the upcoming case with Wressle and nothing’s happening with Biscarp anytime soon, a lot on UJO holders will be moving into RBD with WN and Romania newsflow incoming for the next few months.

A5 was open hole so initial production would have been higher than that of a cased.

Thanks, have now!

If WN has 100m barrels then 30m isn’t going to buy Rathin.
Probably a bigger % with money left for bigger % in Romania and cash in bank for other potential buys.

*upto 30m? Given the market cap that’s a hefty amount to get away. Of course it’s what for is the real question.
I’m guessing BMDs ramp yesterday was coordinated with this.
I’d rather wait for the company to speak than rely on those chumps to invest.

If A5 is the sweet spot and on open hole it was 3,800, how is A8 going to be 4000?

Took another 10k at 23, keep looking to build pre deal. Great new presentation on site.

Good points SQ, bond holders usually are not interested in holding equity, they can take out short positions now hedging their future long equity position whilst as you say controlling the VWAP for the amount of shares. And that 23p number comes up again.
On the plus side once we have completion there is no need to control the vwap and hedges will be closed if SP rises creating a significant move upwards. The autotrades certainly control at present.
I saw a similar SP action with Premier Oil with the convertible bonds, it pushed the SP down to 55p pre conversion to equity - then to 110p post deal.

First you have to define Clives ‘ early October’ - so let’s call it by 10th, after that would be mid October really.
A8 still should be first news to hit, A5 won’t be ready for a little while.

The LC target zone is also a bonus, it’s there Zen need to do some further work to add to reserves.

Some expectations were a little high here, if this well was going to deliver 300bopd plus then the SP would have been a lot higher.
Circa 100bopd to Zen is the first significant increase in production they have had, driven from a pay zone that they have not tapped before. Get 150 from C30 and double production. Remember here a 14m market cap.

Circa 100bopd is fine and significant increase for Zen, if C30 can add 150 then this doubles production. Market will see it as neutral, but cash flow moves right away. Next year they need the A100 doing another 4 of these.

Hopefully he didn’t include C37 when he said under 300bopd : /

I think today there was just a general sell off in stocks as main indices took a battering.

I think they need to continue the well deepenings for the middle targets, can they do this with another rig? I think they can turn round a standard deepening in 2 months, for an additional 200bopd makes a big difference. Of course Zen 01 can blow the doors off, however a complete new drill will take some time, given Zen timelines about this time next year for results.

It’s how you interpret AC interviews. The definite news will be that it flows, but as a producer it was always by how much. If it’s exceeded expectations that’s great, but what was the expectation from the company? Going off the interview I would think over 150bopd but his 1000bopd target didn’t sound like Xmas.