Member Info for SpArmada

Spot on! And many will still wonder why their shares are not selling at a higher price after any deal closing.

Where do you see that the company will be in net debt next year? The RBL is a credit line, they will use it if needed, they don't drawn the whole amount.
I like that there will be hedges in place, too much capex this year.
The OCF for Q1 was negative, that's because there were only 2 liftings for 342,373 barrels in total. The oil production was ~9,000bbls/d in Q1, hence, there is an inventory of ~468,000 barrels. When the inventory is sold, it will be generate $40m in revenue, less transportation and taxes, a nice cash influx of ca €30m. This money will cover the $20m payment due with the title transfer and give a push to the liquidity of the company.
Again, the IR has to be dismissed after his failure with the guidance this morning.

The IR must be OUT after his mess up

Did he mention why administrative expense almost doubled in a year? OMG these small companies are not meant for the profit of shareholders

Why are EDR, EOG and UJO still independent companies? They need to be merged to reduce expense and maximise profitability. The market will never give any value to the three of them separately.

The webinar is available here: https://www.turnerpope.com/investor-evenings/webinars/ A nice update but there were many TBD. I also missed the most relevant details about how the company will move forward woth the gas gathering and sales from the 16-2. It is clear that investors should be more attentive to the news from the nonop assets.

Please, share the link here when the recording is available.

Is it just a simplification? Is it?

Good summary LOL
https://twitter.com/Ben_Winkley/status/1648593979535925248

I'm sure that in 2021 Andrew had in mind the development of Q11-B and the oil in Q10-A, both have been reduced in size/potential and delayed, respectively. I do hope to hear about the completed FEED for Orion and confirmation of FID by the end of the year. As a result, 2025/2026 can be HUGE for Kistos, if we consider what Benriach and Glendronach may bring, beating the 15,000 boepd by far, doubling it easily

The deal gives a great production cushion of 15,000boepd, which can be deemed as the lowest production point in 2 years from now, pending new developments in both Q10-A (Orion oil) and GLA (Benriach & Glendronach). With this acquisition, we only assume the debt and issue some warrants at a very high price, no stocks like in the suboptimal Serica proposition. I feel like Andrew has repeated the Tulip deal, a company with nice assets but too much debt that it cannot repay at the moment. Besides, we get more geographical and production diversification with Norway and oil now on the table. It is a very good deal, the more I think about it, the more I like it.

I agree it is a delay, but it is minor in terms of cash burning. It is weird the way in which they have approached the INA deal, without waiting for all signatures before proceeding, I hope they know what they are doing. Regarding the Sonangol deal, the approval by the government may take weeks or months, it depends on how supportive is everyone involved, some of whom may have to be incentivised to give the green light to the Addendum.
Worst case would be that INA transaction takes a bit longer, maybe until early June, and that Sonangol deal is completed by the end of the year. But I expect that both could be ended by June or July.

This opens a new prospect, though, I doubt they accounted for oil and gas there, not commercial, but with more analysis they may come with something. I do hope they break all relationship with Petrofac ASAP, it is a cancer.

It didn't get to 2.5p or 3.5p as you predicted, though

Thanks to whoever bought my shares at 22p with this RNS :D Now I'll wait to buy them again sub 20p and repeat

It is weird they haven't provide an extended date yet. I guess something is cooking and it is about to come out of the oven.

That's not a flare. However, that could be some fresh soil after the clean-up or some cover over the recovered contaminated soil before moving it to another location. If you want to detect a flare you have to use the geology filter, and you will see an orange patch that isn't shown in the other pictures.
Sorry to bother other posters by commenting on information that could be useful for others regarding the satellite pictures. I hope to redeem myself some day.

HBR sorry, I still need a coffee

A broker has updated its note on RNS giving a 290p target price and hold recommendation due to its low reserves, impact of EPL and struggle to get a decent deal.

Nice! I thought it would help people who doesn't know how to access to the pictures, I guess I'm wrong again.