Member Info for SEA7

hopefully a successful hard launch

if you cannot see any future here Geo - why are you still here?

Surely any sane person, with your opinion would have sold up and moved on by now - so what is your excuse for being so pessimistic, yet still here?

You sound like an employee that whinges about everything, hates the job, sees no future, but doesn't leave and get another job somewhere else. In other words, someone that all other staff members hate and wish they would leave, as they are boring and negative.

sibgae - and the point I was making was that having BH onboard, whilst not guaranteeing anything, lends more credibility to block in the eyes of any finance providers, than without them.

i would not discredit the BH part - whilst it is true they are contracted to do the work, their own reputation carries a lot of weight.

I also would not be so foolish to assume the because they agreed to do some work for fronterra, that somehow invalidates them with block.

it is one thing to decry a ramper, but to spiral down into the depths of deramping and relentless negativity is equally as bad.

rxdav - I think that the contract with Baker Hughes, was put in place to provide the necessary experience that was lacking before.

What we do need to remember, is that ..to stand a chance of getting reserves based lending (assuming they choose that route) for larger asset monetisation, they need to demonstrate some modicum of success beforehand - this is why baker hughes/schlum are around - without them on board, there is virtually zero chance of RBL, with the results we have seen before they arrived.

rxdav - you state... I suspect the 'well clean up' is just another PH smokescreen to buy time for the inevitable placing.
Whilst they have indicated that JKT will be funded from existing cash resources, meaning no placing, the future is indicated in the following....

If you review the actual annual report you will see the following statement from page 4 - strategy and business model

The Company continues to assess the opportunity to increase the rate of development of its reserves and resources. The
finance required for development might be obtained by increasing equity and/or taking debt from the bond or other markets.

and from the CFO statement...

The Group is in the final stages of preparing to drill a well at WR-BA location and, by the end of the year, plans to drill a second well and spud a third well. The forecasts assume the wells will produce oil and gas, which would be sold, and indicate the Group has sufficient funds to complete the drilling of the wells and to meet its liabilities as they fall due until June 2022. However, if any of the new wells do not produce commercial quantities of oil or gas, the Group would immediately revisit its plans to drill subsequent wells.
.................

What this all tells you is that, almost irrespective of the O and G produced from the wells so far, they will need additional funding beyond June 2022 to progress the much larger assets.

I don't doubt you, but it doesn't matter one way or the other - they produced it in support of their investment services and those notes always provide insight to a business that I may not be aware of, even if I do not rely on the figures quoted too much

it is entirely feasible for them to produce a note without being asked to by the company, if they have a reason to do so.

The fact that they indicate...

"This note is intended only for distribution to Professional Clients and Eligible Counterparties as defined under the rules of the Financial Conduct Authority and is not directed at Retail Clients."

would give rise to the expectation that they produced it, to provide to clients that they were marketing shares to, in the placing. They probably were not asked to produce a note, just to market the shares and this is part of the presentation.

If they were specifically tasked to produce a note, then they are normally paid for it and usually the note provides comment on it, in the small print - I do not see that in this one.

also...the note states...

This note is a marketing communication and comprises non-independent research. This means it has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of its dissemination.

and

You are advised that SPA and/or its partners and employees may have already acted upon the recommendations contained herein or made use of all information on which they are based. SPA is or may be providing or has or may have provided within the previous 12 months, significant advice or investment services in relation to some of the investments concerned or related investments.

November 2020 note...SP Angel disclaimer states...This note has been issued by SP Angel Corporate Finance LLP (‘SPA’) in order to promote its investment services

and

Where the subject of the research is a client company of SPA we will usually have shown a draft of the research (or parts of it) to the company prior to publication

December 2020 placing....the Company has raised £0.6 million (before expenses) by way of a placing of 12,000,000 new Ordinary Shares ("Placing Shares") through Monecor (London) Limited trading as ETX Capital ("Monecor") and SP Angel LLP ("SP Angel") .

............

so, if one of SP Angels investment services is placings, then it is fair to say, that they produced this research, showed it to LVCG and got to work on the placement

buy price is 1.625p - too close to the bid - likely a further drop if we see a bit more selling. - still very weak market for block

no it isn't - it hit 1.05p back in april 2020 on the offer and I picked up 200k shares at that price.

The all time low was just sub 1p - if i recall before climbing back to over 4p

a bit I particularly like...

High barriers to entry:

The sheer cost alone of acquiring the inventory of interlocking bricks for the construction of asset models, and interactive brick-based events is cost prohibitive. However, the know-how and IP behind the design and construction of these asset models is unique to LVCG and a very strong competitive advantage. In addition, the global market presence is supported by strong brand IP partnerships and general exhibition partnerships

https://www.livecompanygroup.com/pdfs/LVCG_Initiation_05112020.pdf
Bringing Bricks to Life

Solid Economics and Payback: The average cost of one of the larger touring set of assets, for example the Ocean tour with over 25 models, is about £300,000 and takes about 3 months to complete. Once the models are in production, the touring
schedule can begin to be established. We estimate that an average exhibit term is about 3 months and generates revenue of ~£100,000-150,000 with gross margins of about 80%. This implies a cash payback period of 2-3 average term (3 months)
bookings, or 7 to 9 months overall. Understandably, not all tours are booked for every month of a year, particularly when shipping times, and cleaning/maintenance may be required between shows. However, optimisation of a tour’s travel itinerary can result in significant profitability for LVCG, particularly for those higher demand tours. Assuming these assets have an 8 to 10 year life, the total return on each touring set of models, assuming a 4-6 month/year utilisation rate and a gross margin of ~80%, is up to £2.0m over its life, depending on utilisation.

https://twitter.com/LVCGplc/status/1447905268537376770?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

BRICKLIVE Animal Paradise will open soon at Easypark Chicago and Houston. So excited to showcase our epic models in the USA once more.

so voxx...what is your angle...I mean come on, you haven't rode in here like a white Knight to save us from listening to other posters....no such thing in this game...which chapter of your own book are you talking ?

https://twitter.com/lvcgplc?lang=en

The Black Watch Museum with BRICKLIVE Caledonia is now open! See the Best of Scotland in bricks from now til 24th October.

thanks suedee5

https://twitter.com/ctcycletour?lang=en

if they can get bloc 23 - for a structured deal, whereby we bring it into production, for zero cash up front and then able to recover costs through bopd produced and the angolans get a revenue stream from the asset - then it will be win/win.
The risk to afentra will be execution risk only as it is a proven discovery.

block 23 - has a discovery on it, which is over 200 million barrels if i recall. I suspect that they would use the cash to bring it into production and then plan to explore the rest of the block.

They need shareholder approval on any transaction, as it is an RTO.