Member Info for sparky333

Spot on, I suspect it will be a mix as already indicated.

How big a mix ? Also they have already hedged and paid 2019 industry payment from my understanding.

That’s why down from 18m to 11m.

It is all about the margins guys

Roll on the update so we can move forward or down !!!!!

FCA will rumble on for a very long time

I take your points and that is why we are at this level, you cannot lay the blame for this at the company as a whole, the BOD employ a CFO to do the books along with his team which is Audited by KPMG prior to being passed to the BOD for final sign off.

I am not accountant but from what I have read the CFO has been not been using appropriate methods which make the company look better on paper that it actually is ie Bad debts provision, account for actual receipts on the day of billing.

So what the hell have KPMG been doing in the audit ? the BOD have taken the facts as they are as endorsed by the CFO and KPMG.

2 independents have now been in and done a complete forensic exam of the books and practices and tighten this up and got an accurate picture of how we actually stand today.

Contracts are contracts and these are growing big style and they only sign up SME's so bad debts will be a lot lower than retail so comfortable on growing contracts but 2 concerns

1. margins - looks like the sale desks have been winning business but how much are actually loss making ?
2. Are we actually going to be profitable in 2019 ? as I expect revenue will be close to £100M

Will the toxic contracts be renegotiated or ditched once expired ? there for a potential slump in revenue post 2019 ?

Lots and lots to think about but on the positive side this company has been beaten to death £11M MC, more cash than the market cap and a large order book for 2019.

Can they turn this around ? I think yes and if they do the SP is be multiples higher.

The FCA investigation ? Someone should go to jail and you know who that is he has pulled the wool over the BOD and the Auditors and a 500,000 share option. Holes are not deep enough for people like this.

But the question is was is premeditated or he is just stupid and incompetent This is what the FCA will be focussed on.

So the bottom-line line is as follows

1. If the company sorts itself out which they are and they turn it around serious money to be made 4,5,6 times price increase
2. WE could be taken private
3. We get taken out for the order book and cash
4. Possible large fine

Place your bets folks but far worse stocks on the street than YU. as everyone needs utilities even during a recession /brexit

Going to be explosive no doubt about that. Could half of could double.now all the skeletons are out in the open and some clarity on margins going forward, debt free and every growth pipeline this could be he turnaround share of 2019.

But not without risk comes reward.

So the CFO has screwed up the accounts along with the auditors. Yep that guy is a either a complete idiot or cooked the books so well the auditors missed it and was only picked up when the new guy came along.

1. YU. Have moved heaven and earth once the new CFO spotted the cock ups and should be applauded for coming clean but I would point the finger at the CFO responsible at the time and WtF do the auditors do just signs them off ? Time and time again the auditors are not providing full assurance of the accounts and therefore they should be fined.

Happy to take payment time and time again yet do no assurance checks.

Thoughts ?

Looks to me Cadence selling down more, the sooner they are gone the better, or bcn announce funding.

Will have close to 1/2B dollars warchest.

Didn't expect news and it trickles on with extension to be granted

Looks like a dividend / cash return to shareholders

POO moved very strongly yesterday and we under performed, POO continued to rally after the bell so therefore I would hope we break and hold 200p today as the speculators move in head of results on the 15th.

the 15th Has the potential to be explosive on a couple of fronts

2019 production figures, they have already said the year end figures will smash the 2018 guidance

GAS - at the very least I would expect a detailed update on this is the time extension runs out Feb 19,

Also a lot of BB chatter on a maiden dividend in 2019 , but I suppose personally this would depend on the 2019 plans for Bina, Pesh and Gas which may require significant investment.

Certainly a lot of interesting and potentially transformational news could be on the top on the 15th and the year end figures in March.

Keep the Faith

GKP makes my piss boil

apparently they are nearly doubling production in 2019 to 55K - will cost then $230M

I think I will stick with Genel thanks.

Has all the pieces in play to be transformational with an SP many multiplies of where we are now.

Fingers crosses the update next week delivers a very bullish outlook for 2019 coupled with game changing news on Bina light oil and GAS!!!!

Interesting.

Pesh has constantly surprised to the upside, I would not be shocked if that was the case but I for one cannot wait for the Pesh CPR.

Strange oilers are not reacting - we should be through 200p by now.

quick to take us down slower to take us back up - lol

I would add the following :-

1. 5 new wells are planned for Pesh taking production to over 100k by year end.
2. Genel are in discussion with multiple partners for Gas partner to be announced shortly following KRG approval.
3. CPR for Pesh due Q1 19 with material uplift expected.
4. 2019 production guidance of 45k for 2019 with year end anticipated to be significantly higher.

Cheers

Year end I guess 38k

Outlook for 2019 by year end we could be 55 to 65k

Tawke alone could be pushing 160k 40k to Genel never mind Bina and Taq.

Thoughts and the impact on cash

So come the 15th Jan we are going to be oozing cash and getting close to a war chest of $400M.

what exactly is that for ? acquisitions, Gas, share buy backs ? We have a bond and paying a coupon it and have been for some time now so what the hell is the cash for ?

Why are the directors not buying ? close period ?

why no share buy backs ? if the cash is for something else tell us, a lot of big talk on acquisitions so is that it ?

Cash is king and with a health cash pile like that we are extremely vulnerable to a shitty hostile bid.

Cant go on forever, the already extended terms end Feb 19.

Murat should resign if the date is missed yet again, they are not exactly do much at present as DNO are doing the hard lifting.

I totally agree, Yes the company is looking very strong at the moment but this is not Genel, it is DNO.

If the gas does not move forward significantly by the Fen cut off date after a 12 month extension then I am sorry but he has to go. Failed with a big fat F.

Bid on the table for Ophir, that consolidation in the sector is really starting to motor.

Who is next ?