Member Info for Slift

SmallJ,

There was a long term plan for HMI before the disaster with the sales in previous years. This long term plan included developing their other assets which had great potential.
However the lack of sales and COVID had impacted the plans, significantly.
We now know that the Carpela and the Mandacaru Phosphate licenses have now been relinquished to focus on sales of KP Fertil and to grow the company.

The past year has provided some confidence in HMI's new sales strategy as they have managed to beat their updated sales target. It's certainly clear that they have returning customers ordering their product.
I suppose the mid term vision here would be to tap into other markets to increase sales. They have already completed trials showing success with sugarcane and carrots in 2020, which will certainly help to sell the product more throughout the year.

There is also the development opportunity of KP Fertil (expansions) to help deliver the product as sales pick up. It's sales that initially decreased the SP of this company, and it's likely sales that will provide some confidence here again.

The company has said again and again that they see great potential in KP Fertil and that they have no plans to sell this.

All PI's trapped!
RNS will reveal why!
Don't gamble kids.

Scott, don't bother you deramper!

According to others here:
Profit in December was $19m per tanker, so profit now must be $50m per tanker.

I'll take double figures here as it stands.

There is great potential here, but there is also significant development required.
To achieve both, the company needs to maximise sales (c. 150-180kt based on production for seasonal periods).

Which is definitely possible over the next couple years retaining existing farmers.

But 80-100kt sales this year (within target and very possible comparing what they've achieved so far) is a very good start to realising the potential of this company and returning value to shareholders.

GLA.

Thanks for your help buckles!

Hey!
I neither have £1m (yet, ha.. ha.. ha..) nor have ever done trades by contacting a broker. HL app is all I need atm :)

P.S. I'm not an O&G engineer, i'm a chemical/process engineer!

I'm just querying the process behind it for large sums.
Do people just place a limit order for £1m via online trade? lol

That's why i'm asking here..

Since you're all rich af to be throwing big bucks away over here.

How does one go about buying shares here with say.. £1m?

Where are my lads y11-shx and Dickybat today?

Ok Boomer.

https://polaris.brighterir.com/public/capita/news/rns/story/w0y396x

Great to see this finally rise.

Wish I had bought more tbh.

Woof

What are you on about Lyndon69???

Share price to 40p tomorrow. 1p for every 300 barrels produced. How's that?!

slipanchor,

Well played.

Filing for bankruptcy.
Can you adopt me?

We done yet?

I'm busy! Go away

Tommie,

Highly unlikely that Tullow will cancel unless they have something else on the table to meet shortfall - time is running out. I suspect Mr 13% had some influence in this to sell producing assets.

The sale has a lot of benefits to Tullow from an RBL/liquidity point of view. But looking at the other options:

- Sale/farm down of exploration assets: This would have been best option for Tullow, imo.

- Rights issue: A rights issue isn't necessarily a dilution, you subscribe to new shares by funding the company. For the EG asset, I'd like to say maybe subscribing to one share for every 7 you have would have provided enough liquidity for RBL whilst keeping the asset. At worst case, subscribing to 1 share for every 4 shares you own.

- Sale of other producing assets: similar to the gabon sale, sale of other low producing assets would have been better.

What bothers me is
1. The EG sale isn't even value accretive anymore (at current forward curve oil prices, let alone $60+)
2. Significant loss in growth potential.. I mean even Enquest will soon have more production than Tullow lol

I suggest you go watch the Half Year results presentation by Rahul.

It does not support Rahul's strategy.
Les is behind this sale to meet shortfall liquidity for RBL.

2022 production guidance will be c. 60-62k without these assets (Source: Rahul in recent conference call).