Member Info for Slift

HILARIOUS how some believe they will get "double figures" here. Are they including decimals and to double sig figs??

Note from 18th Dec:
"It should be noted that there is a risk of dilution to existing shareholders from a possible restructuring and/or partial equitisation of the convertible bonds. Furthermore, if no agreement can be reached with the Company's stakeholders on additional investment, further development activity at Lancaster might not be possible. In such a scenario, Lancaster could continue to produce from existing wells before reaching the economic limit, the timing of which would depend on oil prices, actual production levels delivered and the level of cost savings achievable. The field may then be decommissioned, with potentially limited or no value returned to shareholders."

Today's CA RNS has also highlighted that they are unlikely to fund the future work programme with regards to the water injection.

No finance agreement with stakeholders for HUR = no value returned to shareholders.

bucklermoron,
"Not seeing celsius on here."
Suggest you go read up on some thermodynamics.

y11-shx,
Maybe you should go do better research if you can't find it lol.

Repost of this crap graph: https://gyazo.com/09dd08a049b47c84a172c4e9071b96c2

bubble point @ 1600 psia.

Lol, thought I'd say that to make it understandable for you.
As if you'd understand if I had said bubble point instead.

All makes sense to me Sailplane.. that is if you assume that the boiling point will not be reached in an infinite amount of time....

Or that the OWC doesn't rise with production and hence watercut doesn't rise...

Or that sidetrack well 7 has 100% chance of success with similar well productivity to well 6...

Or that bondholders won't take advantage of shareholders..

Etc. Etc.

Dickbat,
Okay sure, it was a mistake and many caught out in the past.

But is it a mistake when the writings are right on the wall from Dec 18th update?

I made a mistake, and I learned from it.
Am I gonna cry if this goes to 0? No.
Am I gonna cry if this goes to 6p? No.

Are you?

Yogibear27,

World doesn't revolve around you buddy.
My post was a general opinion for everyone.
Don't like the opinion? Use the filter.

ETA: <1m to dilution.

If you read most of daltry's posts, you'd realise that he's not one bit deluded (in recent times) regarding this company.

15 years of grief, but what's important is that he hasn't lost it in his head and probably in good health.

Throw them dollars away and look after your health instead, people are less fortunate than all of you (but more happy) than all of you!!

"Could you imagine a repair on the current well"

Lol. How do you "repair" current well?

What if I told you I was posting from my lounge? Does that make any difference? Lol

Jm0205,
Yes it's "due Jan" but it's not due 27th Jan.

Dickbat,
Still banking on the price of oil to sort of HURs mess?

The lower this goes... more dilution from refinance.

Not sure what exactly people are expecting, but we know that production has dropped H2/20.

Also, worth looking at net assets at H2/20. With only Ntomme-9 (and some Non-portfolio) increasing asset values, and with the decline in production and cost cuts performed in 2020, would be interesting to see if net assets has improved or worsened.

As for refinance and RBL, personally don't expect this until February. The results provide more detail for both RBL, and bond holders/shareholders.

The going concern period is until March 2021, with final deadlines for refinance being April 2021.
Therefore, personally believe that final approval for refinance and sorting capital structure will take place in March/April.

Let's see what Tullow surprises us with!

Reckon if he was smart, he'll have sold and moved on!

1. coning and hence increased watercut
2. increases rate at which field reaches bubble point
3. more OPEX cost
4. Well 6 would become uneconomical quicker (We know big Tony want to drag this on for as long as possible so he gets his CEO paycheck)
5. etc.

I'm particularly intrigued by use of these products to offset carbon emissions.

Similarly to planting trees to offset emissions which is currently adopted by many firms.
Except here, they will likely get a payback with power.

Will continue to follow.

GLA.

"Now is the time to follow the 'Shalers' and Hedge production for 2021 at $50."

Lol, why not just wait until oil price crashes again to hedge at $35 and not use hedges even once? Haha. #TheHURStrat

Of course bopd.

But at the same time $685k AUD isn't a lot. It's just a bonus should we receive it.
This is a thing from the past, look to the future. They've changed the way they operate. The bank loan facility will be dealing with these type of high value transactions going forwards.
Therefore, should we receive the $685k, it'll just be a bonus. Harvest believes it is fully recoverable, so why shouldn't I or other investors also believe this? Should I be believing you instead? Lol.

Maybe you're deluded for thinking that it isn't fully recoverable when it's clearly stated in AUDITED results that it is, not to mention the court ruling. In the worst case, sure okay all of what you said happens and Harvest loses $685k from the balance sheet.

I see you're still upset about this company lol.

"Included in the debtors balance as at 30 June 2020 is an amount receivable of $684,955 from a third party, Agrocerrado Produtos Agricolas. In September 2020, the Company instigated legal proceedings to recover the debt. On 25 September 2020, the Tribunal de Justiça do Estado de Minas Gerais issued judgment against Agrocerrado Produtos Agricolas for the full amount of the debt plus costs. The Company is now taking steps to enforce the judgment. The Company considers the amount to be fully recoverable and as such, no impairment has been made."

+$685k in the bank should be provide some support!