Member Info for Slift

- £33.6m injection.

- Dilutes Kibo

- Existing Shareholders diluted to 25.1% = £8.43m

- Market Cap is £2m. Should be close to £8m. 400% rise in share price expected.

Enjoy the rise all! Only for the patient this share.

Let's hope the deal goes through in June! All good news for MAST!

Y11, you sure are invested in my investments haha.

I had a small amount a month and a half ago which I've already sold 34p - 3 weeks or so ago. Wasn't really any significant profit or loss to be talking about.

Y11.

I don't have shares here, not until the strategy changes. Where's the CMD at?

Tullow's breakeven FCF this year is $67-72/barrel.

Currently, Tullow is making no FCF.

If people believe oil price will AVERAGE above FCF level for the rest of the year, then all good. Otherwise will be a struggle for TLW.

Anton,

Each share issue to the directors dilutes this company. Doesn't matter if it's part of a remuneration package of not. It's all a hit to shareholder if share price performance doesn't better.

Regarding borrowing, raising cash and debt situation - I'd have a look at the debt covenants on the current debt.

I never encouraged anyone to buy or sell, not now, not in 2020. You make your own decisions in life.

Lol, Anton, you really do say some nonsense on here :')

I think if Rahul actually bought shares with the £1mill+ salary he gets, then would be more credible and provide shareholder confidence.

As people have mentioned here, Tullow may have to raise cash should oil price drop further. Huge CAPEX this year is a risky move with everything going crazy in the market.
On the plus side, no threat from debt - and cash flow is still manageable by Tullow (assuming not all CAPEX has been awarded yet).

Slift.

no response from Investor Relations yet.

We will find out soon if Pieter is action or just another LC.

https://www.lse.co.uk/rns/KIBO/convertible-instrument-redemption-date-extension-9mdrlanis0tbal5.html

Quite a situation if KIBO can't even pay £650k worth of debt back..

Really dragging Mast down. I'll try sending an email to investors relations.

Slift.

A company is considered risky for investors when there is a controlling interest from a shareholder.
With over 50% of voting rights, Kibo has the controlling interest.

This makes it unattractive for other investors as all decisions requiring shareholder approval is within KIBO's hands.

KIBO really needs to sell stake onto other investors.

Lol, Canarywharfy/Jubilee is MakeAmatukGreatA.
How is it not that obvious for others?

Given the fact that no wells are planned for TEN this year.. I can see production declining further. There might even be a write-down in reserves and assets.
Not. Good.

Jubilee producing 100kbopd is likely as the infrastructure in SE Jubilee will add to significant production. But in reality, this hides the decline in the main field. Jubilee (main existing field) is to flatline or decline in production this year.

How many years does it take to sort TEN out? As this is what is really needed to improve cash flow and turnaround.

End of year report due too, maybe End of March?

Asset value: £14m
Drawn Debt: £2-2.5m
Operational liability: £1-1.5m

Total liability: £3-4m

Net value for the company: £10-11m
Current Market Cap: £3.76m

I'll wait for an re-rate thanks. MINIMUM value for this company is 5-6p.

That's excluding any positive updates for Bodesley, the T-1 contract and any other potential news regarding acquisitions and performance.

Takeaways from the RNS and the podcast:
- Approx. £300k revenue incoming each year without having to produce
- Asset value of £14m following Pyebridge value update
- Renewable energy has slowed down in production, meaning back to good revenues for Pyebridge
- Bodesley on track for financial close
- Various other projects in pipeline being reviewed (70MW) for acquisition

Pieter seems genuine in this podcast.

https://audioboom.com/posts/8253929-midweek-takeaway-featuring-pieter-krugel-ceo-of-mast-energy-developments-lse-mast

Great news.

A lot more update to follow.

It's a shame that the float of shares is limited here, significantly with majority of the shares in Kibos hands. Hence we've seen a muted response to the update.

Agree @maidit308, a re-rate will happen when the time is right. I certainly won't be selling anything here.

GLA
Slift

Trebor,

Producing hydrogen with water is an electrolysis process. This requires significant amount of energy and is only really worth it if it is absolutely required (i.e. hydrogen fuel for cars to replace fossil fuels).

Even if surplus solar and wind energy is used, there are many other methods to recover and store energy more efficiently.

Furthermore, hydrogen is dangerous.

Only use I see in the foreseeable renewable future is as fuel to replace liquid fossil fuels.

This is going to drag on for at least a couple years.
The final result is likely to be a settlement, but of what value?
Plus costs of arbitration.

Either way, not good for Tullow when balance sheet is a mess and operations are underperforming.

Canarywharfy,

Not really. I already have some shares here to take advantage of oil price upside short term. Looking to sell around 42p.

But I won't add or have a long term investment here, at least until I see improvement in Tullows' operations and strategy.

You keep talking crypto scam, I bought ARB at 3.5p and sold at 11.7p. I do not have any crypto holdings currently.

According to Kibos update, financial close for Bodesley is Q1 2023.
We are already half way through Q1.

The announcement of financial close should provide more confidence in this company to get the 2nd project generating revenue.

Looking forward to this as well as the trading update on Pyebridge.