The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
didn't the company need/want to secure the new acreage before releasing the available data to potential partners/farm in - or have i just make that up? i accept the point we already have a lot of acreage to develop, but to not pick up the additional leases would have been a huge mistake (in my opinion)
seems like a decent plan to me. ok, A2 output is disappointing but if the data is good then it's far from a disaster. funding for SMD testing might need some negotiating but should be achievable however the company chooses to approach it. farm in discussions can continue in the background (hopefully assisted with some positive news from SMD)
interesting comments from Jay and Bob regarding testing the SMD formation from either (or both?) the Alkaid drills. i'm almost certain they said they can drill laterally using the existing vertical boreholes, and would cost in the region of $5m, which i assume is for one ... and this can be done outside of the winter season?
back of the envelope calculations the quarterly coupon and principal payment is about $4.4m or 0.90% of current market cap. whilst i agree that's not ideal, i don't see how that in itself is going to start a death spiral any time soon. all my own opinion of course
if only AIM were that simple. big step forward for the company however, i'd like to see an update on the dividend status but otherwise quite promising in my opinion
perhaps one for the technical experts ... do we expect the reported oil/gas mix to remain constant over time (will there be greater oil flow during at some stage), or is it too early to tell?
Patience may be required, but they're own admission Alkaid test results need to be available before the winter drilling campaign and funding can be progressed. i didn't think it would come down to this, but clearing that blockage in January is the game right now. someone please reassure me
a little nudge up so far today but this has to be the slowest of slow burners in history. this is such a boring company