Member Info for SpArmada

The team is unexperienced as I commented several times, and they keep struggling. The situation is even worse I could have thought of. There has been no progress to connect the 16-2 to the export pipeline for selling the gas. Considering the debt position and delays, I think the company is going straight into administration if they don't secure the support of shareholders to raise some capital.

Do you understand that they have a bond to pay back? Debt is the company killer.

Some have been warning about this risk. It just materialised. I'm sorry for those who bought shares believing that this situation could be saved somehow. Lessons must be learnt by other who pumped and promoted this, particularly among those who heard them stating a sudden recovery.

You'll not be missed, IOG.

More aware of what?

*phase 3 (5 wells + FPSO + 5 wells + 22 wells + platform)

The devil is in the details ... It is carried until first-oil, which doesn't mean the whole development. The moment it produces the 1st drop of oil (phase 1), ORCA will begin paying its share of CAPEX, which will still be important, so the actual FCF of the 18% WI after phase 1 (5 wells + chartered FPSO) towards phase 3 (32 wells + platform) will not be as high as some are saying.

Came across this in twitter today, I liked it, gives a very good overview and how the company is cheap and has plenty of potential at the same time:

https://zerogcos.substack.com/p/pharos-energy-a-far-east-turnaround

I3 Energy promoed in the IOG BB ... life is marvellous

Remember the hedging of 50% of production from Q4 2023 to Q3 2025 at $70/bbl, ca. 5.5MMbbl. They said that premiums are excluded, so the actual realised price can be slightlyl above that $75/bbl, maybe? I hope they provide the final volumes and avg. price next week.

Thanks, I saw later that the cancellation only affects to the federal leases, and PANR has none of those

You sure?

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xppldqx

It seems to me that you didn't get the reference XD

Cracking is precisely the problem of this company XD

Agree, stable production is key here, I believe that just 1 quarter would be fine. Then continue progress in Indonesia towards first gas in Q2 2024. I don't think Malaysia will move the needle, Iin any case, there is more potential downside than upside in there, if the infill campaign goes south.

LOL

Very suspicious behaviour, now at 32.5p ... RNS after close?

Isn't +7.5% unusual to you? I have had more negative than positive days here at JSE

Weird surge above 30p ... Montara back to action, "near-term" acquisition closing, Blakeley's resignation ...?

And it will lose the contingent payment/kicker from JAPEX, so it's a drawn

Yes, but still, it is not a producer until all conditions are met and the deal is officially closed.