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Thankyou Bob and all LTH. I bought in after suspension last years so am seriously underwater although have averaged down quite a few times. Having read the RNS this morning and comments on the board I am also struggling to see any negatives.
Arthur’s interviews are honest and factual. Whilst it might not be what holders want to here or the timelines they wish to work to that is not Arthur’s fault.
I will be holding and seeing this through to what a genuinely believe will be an excellent conclusion.
I’d be delighted too. I don’t know a lot about shares so was just doing some very basic level maths on number of shares in issue taking a rough guess on debt and exchange rates et. and came up with that figure. I’m probably miles out but just how I saw it !
Dusterhater, a quick question. Let’s say 500m recoverable and I think I’ve read that a major would pay $10 per barrel in the ground. If so, that receipt would be $5bn. With 244 m shares in place and deducting debt wouldn’t that give us all a very large pay day of approx £15 per share (taking in to account debt and exchange rate) if AM were to sell out now ??
Stas, what you say is entirely logical and I agree I cannot see this playing out any other way. Why risk releasing a report when you don't need to just yet ? He may release once the court decision is unable to be challenged and before he completes CUDA but that seems also unlikely.
Hi Coplholder, I am a genuine holder and have no intention of selling for several years. Mine was a genuine question and I understand Rs will not confirm reserves at this point but will give some indication. However all I really want to know is that once reserves are confirmed is my logic correct ?
If the RS report confirm 1.8bn barrels at say 50% recovery equating to 900m barrels I think I’ve read before that a major would pay between $8-10 per barrel in the ground therefore am I completely wrong in thinking that off the back of RS the oil could be worth $9 billion !!
Apologies if I’ve got this completely wrong
Thankyou. If it is directly linked to the debt then the sooner they refinance the better. If not, there must be an expiry date of the hedge but not sure I've seen that anywhere. Expiry alone at current prices would make a huge difference to the COPL bottom line.