Member Info for Sundayroast

Looks like some solid buying. News on 2 fronts due any day

I can see this bagging on any whiff of news.
They are producing circa 6000 bopd
MC only £30mil
Crazy!

Trojan I can see it breaking that resistance point.
We have seen higher lows since we first hit the 3.7 resistance.
Bodes well for a breakout

Third time lucky :)

Looking very bullish. I think 4p could come at any point.
Glad we have had decent consolidation over the last few days.
Leads the way for the next leg up

Just took a position here you will see my £8K pop up shortly. Seems grossly undervalued

I actually had a quote for 1.9p but didn't have any funds, doh!

Financials today, got my eye on that 7am red dot.

Anything over 80% COS is super rare.
95% is unheard of.

Zed I believe the SP is consolidating before the next leg up.
There was a nice pull back where we bounced off the 3.3p level twice.
We need to break 3.7p for the next leg up.
I see little resistance at 4p.

Its not falling, its at the same level it started the day as 2.7p
With increased revenue from the rising price of oil and gas the interim results will be good.
There is always a risk with oil shares that a duster will be hit but as they have already indicated hydrocarbons I see this risk as low.

Well done to those who bought todays dip

Hi mdrake,

Here are some very good investor notes posted previously by saint-tropez

- Raised £22m in March with a placing at 2.6p
- Used £15m to aquire 50% stake in Buffalo oil field.
- Experienced BoD (Ex shell / BP and mid caps) own 7-8% stock.
- Low risk strategy is to focus exclusively on producing assets and undeveloped fields.
- Not interested in doing the operator role means they can remain a lean management team and have stakes in geographically dispersed assets
- 7 further acquisition targets (Always will be a JV) 2 of which they expect to announce this year.

Buffalo:
- Partner is Carnarvon
- Former producing well by BHP from 1999 - 2005
- The field was decommissioned due to oil prices and limited capability of seismic processing to optimise well locations
- A state-of-the-art seismic survey of the field has since determined the presence of unproduced oil, particularly in the undrilled attic of the reservoir

- Very low risk (95% CoS) development well spud planned early Q4.
- Independent auditor RISC estimates 34.3mmbls (2C) recoverable at 40k bopd.
- 70% of gross cumulative cash flow will be recovered in first 2 years.
- ADV’s 50% stake will yield annual net cash flow of c.$187m at $60/bbl - this leads to impressive project IRRs of 106%.
- The light grade oil 53 API demands a minimum $2 premium over Brent.
- Tennyson initial report values barrels in the ground at $12.2/bbl, equating to a net unrisked value of $209m (12.6p/shr).
- THIS IS BASED ON $50/bbl, vs current Brent of $70/bbl and some forecasts of $100/bbl during 2022 so potential for 20p+ per share
(just on Buffalo project alone if the prevailing market conditions remain favourable)
- The economic model shows Buffalo profitable with oil down at $30/bbl.
- Well development CAPEX of c.$125m will be raise 70% debt 30% equity

New shareholders who took the placing @ 2.6p:
Tavira Securities 5.2%
Anavio Capital Partners 3.48%
Toscafund Asset Management 3.37%
John Story 3.48%
Pre placing shareholders:
Sebastian Ma’s stake was diluted to 4.09%, despite adding to his stake with the placing
The directors own circa 7%-8% in total
Mark Rollins owns 2.9% and Leslie Peterkin owns 2.6%
Mark and Leslie also added £430k to their stake during the placing so the BoD are firmly aligned with shareholders interests.

I suppose that the advantage of getting in early.
Those who bought HE1 in March at 7p would still be in 100% profit currently.

I'd say that tree has been struck by lightning!

Ouch! Unlucky guys.

If that's your thoughts then I'd sell up.
I personally am happy to wait.
They have already said Hydrocarbons are present.
The results aren't overdue either. They are however expected any day now.

I'm holding out for a much bigger prize :)

Definitely gaining strength.
We have already been informed that hydrocarbons are present at Sancrai-1
Just waiting on flow rates.
I'm amazed this is under 3p!

Troajan, if you want any details just ask on the SENX board, happy to help.
I don't want to clog ADV up with off topic chat