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From todays figures we can see that RBL is still $115m outstanding HYB $813m after some purchases, RB at todays £ to $ work out at $297m so that's a total of $1225m to pay interest on so with net debt stated as $880m we must have $345m in cash up from $318m at year end.
Interest should be $86m year. Someone needs to tell the tax brigade, we sill haven't had a penny as investors in the company from day one! and that needs to change.
May operations update gave first 4 months of year at 50361bpd and looking good for extra soon.
"Malaysian operations
For the first four months of 2022, average production in Malaysia was 5,910 Boepd. An active programme of well workovers (four wells) is underway, with the first three workovers completed where the early results have been encouraging. The drilling rig has been mobilised and installed at the platform ahead of the commencement of the four well infill drilling campaign."
BananaJoe
Yes in UK we have a saying rip off Britain. The industry here has fixated on air to water pumps the most expensive to install, because government listen to the industry who have a vested interest so any grants etc only apply to that type of pump most commercial premises have air to air and it works fine. Uk gov could do with looking at the pictures from Ukraine and should note all the bombed building have units on the walls for each flat they do it and it is cheaper but we have to look at £12k systems because the industry say they are better?
Also bear in mind the Retail bonds are in £ so that debt and interest payments are effected by the surge in $ this set of figures will be very interesting and even Barclays may have to sit up and take interest.
Nice to see acknowledgement, I suspect you know how good this could be and are looking to get in at best price? I think you hit nail on head at 5p and was right, will watch and hope you get a lower opportunity and take it with you. But will not trade this for small profits can wait for big one.
Picked up few more today 95.3p look forward to interest on them in October with 9% should be trading above par.
Anyone realise they made a profit?
https://www.proactiveinvestors.co.uk/companies/news/982301/horizonte-minerals-swings-to-profit-on-large-foreign-exchange-gain-982301.html
Hi Chilting
But the ESG group is responsible for a lot of the high oil price and shortage of production and the increased use of coal. Invest in carbon capture and renewable energy by all means but the ESG intervention has increased demand for oil & gas (to produce the renewable infrastructure) and cut its production before a replacement is viable. The 25% tax would have been better replaced with rules on new field's needing to have electrification or carbon capture capabilities.
Did the ESG brigade ever ask the people who's money they invest, they forgot who they work for and that they are supposed to pick the investments that make the most money for the investor. Cut oil use and oil production will drop.
Thanks have to go to Romaron for sharing that reply, it gives the hope that a reset of debt is around corner.
I read it as we may get a simpler structure RB23 + RB27 + RBL and do away with HYB altogether, if that can be done with hedging freedom and no restrictions on Dividend we could see 60p+ this year. Reality is we are paying down that debt at a rate that could mean we have RB27 as our only outstanding debt by 2024 with an RBL facility that will give us freedom to expand.
You can be too greedy with shares, The whole project was financed with equity set at 7p unless project falter's anything below that is getting a better opportunity than those that put up the money! we just had a chance for some to get in at 5p hoping for lower is just greedy but if it comes I am greedy and will take it. The options for management on the delivery of project look encouraging to all that put up the money we will all be in profit if they get them and make a profit from them.
Next stop is anyone's guess, majority of share were issued at 7p and are held, but up for loan so don't see a big sell off by anyone! but price can be played with by that loan stock but not many real holders will sell, till this story is played out. As a PI am happy to buy any new low upped today so now hold below 6p in real money and hope to add again as funds allow