Member Info for SEA7

WR-16aZ production

The well continues to flow strongly, producing a combination of oil, water and gas. From 17 to 23 September production averaged 230 bbls/d of fluid at a choked-back rate comprising an average watercut of 78% (51 bopd) and a gas rate of 130 mcf/d (22 boepd).

230 barres, minus 51 water, minus 22beopd gas leave 157 barrels of oil - plus 27 bopd from norio/sats gives us 184 bopd production without gas. Breakeven at the company level is 100bopd.

The cash pile is allocated to the drilling programme - you expect it to be eaten into.

FFS SIMON - the 51 barrels is water - it is in the rns.

The company, as at 30th June had £11m of working capital. The current cap is £15m -

The company covers its costs at 100bopd.

with about 25 bopd from norio and satskeni and the last reported average of 157 bopd from 16az, (230bbls of fluid at a choked back rate - of 51 barrels of water, 22 equivalent barrels gas and the rest oil), we are currently covering costs with a minimal bit of profit.

Drilling underway at 38, so now we wait.

Needless to say the doom mongers and pessimists are leaping on the mistakes made, however, we are where we are and at this price, it is a buy.

I have added today at 3.87p.

Bit early for the cider isn't it Mike.

yes - until next week!

no problem gutekunst

end october/early november

to end three months june 30th 2019..

CASH - CAD$3,053,000
LOANS DUE WITHIN ONE YEAR- CAD$3,581,000
LOANS DUE AFTER ONE YEAR - CAD$2,419,000
NON CONVERTIBLE BOND DUE WITHIN ONE YEAR CAD$229K
NON CONVERTIBLE BOND DUE AFTER ONE YEAR CAD$4,759,000

Total CAD$7,935,000

Post period end...

debt reduction from CAD$2,747,000 to CAD$1,320,430 - Re rns October 1st (rns in US$)

This should mean the overall position is under CAD$6.5M now. This is GBP 3.8M of debt outstanding. Most of it due after one year

PI's selling out on the drops, whereas yet another large buy of 1m shares has just shown up - this time not delayed and at the mid.

I was getting 3.12p to buy earlier and that was before a few more sells that have gone through. Definitely some large stakes being taken.

the only 100k trade I see is on the buy side is at 0942 this morning and printed at 3.149p

could always call your broker - find out what is happening.

100k shares at 3.2p should have gone through no problem...

unlikely you would have a dma account though unless deutche offer it - zenith trades on setsqx....

Private investors that frequently trade a relatively large volume of shares may decide to opt for Direct Market Access (DMA), which allows the investor to interact directly with the SETS electronic book or SETSqx auction service.

retail service provider

this may help...

https://aim-watch.com/articles/overview-retail-service-providers/

anyhow

buy price is 3.124p and sell is 3p at this time.

gutekunst -you get that name from the german spring supplier?

depends - your order is probably in a queue - is it a limit order at 3.2p - depends on your broker - do not forget you generally poll the RSP's when buying stock as a retail trader and rarely deal with the market directly, unless you have a DMA account. NMS on zen is 20k shares - if your above that then may not fill at 3.2p unless you get partials, although I would expect it to in this market with the volume we see.

buy - just means it was above the mid at the time of the trade and sell is below the mid at the time of the trade - not the most reliable of indicators as it is indicative.

it is still an asset and as such we should be able to get updates on its progress

for example it has just finished paying off its 200k loan there.

Whilst it is good to see regular and continua updates re azerbaijan, we never hear anything about the italian assets..

recent...sold over twice as much gas in the 3 months to end june 2019 as they did in the months to end june 2018

price obtained for gas was CAD8.16 against CAD7.48 for 3 months ending june 2018
electricity revenue was CAD204K in Q1 2020, against CAD188K for Q1 2019

These assets seem to be making good progress in the last Quarter of the year, against the last quarter in the previous year, although from the overall year perspective it is down marginally - so good progress being made.

figs

During the three months ended June 30, 2019, the Company sold 2,867 MCF of natural gas from its Italian assets as compared to 1,337 MCF of natural gas sold in the three months ended June 30, 2018.

• During the three months ended June 30, 2019, the Company sold 2,779k MWh of electricity production from its Italian assets as compared to 2,683 MWh of electricity sold in the three months ended June 30, 2018.

yes RH - there are others taking larger positions quietly whilst the very loud are selling much smaller amounts and prophesising doom

actual prices are 3p to sell and 3.2p to buy at the moment

bit of ..end of week weakness in the run up.

1 x 1m share buy at 1827 yesterday and 2 x 1 million late reported buys show up this morning, from yesterday afternoon at 1615

Think they will aim for stable production at what ever level and stick with it for now. If they need to carry out remedial work they will.