focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I think a lot of people have forgotten about the 40% hedged Oil sales at $64 for the first 6 months of the year. So for 40% of our oil produced the current Oil price today or tomorrow is largely is irrelevant.
We are also only $10 off the current price of Oil to be cash neutral and we have with unrestricted cash in the bank of $135m and further undrawn facilities of c.$330m.
Plus that does not take into account positive cash flows from the proposed UK acquisitions or potential disposal proceeds.
Whilst I agree the Oil sector is in for a tough time, PMO isn't in as much trouble as people think.
I think you'll easily see a return to £1 by year end....That's assuming some larger company doesn't take us out before then!
Current Mkcap of £135m....The current price is the cash we have in the bank! Bonkers.
Talking about potential acquisition opportunities, Check the comments about the 3D seismic program they are planning at 6-7 minutes in the video.
He says the permit size is 38-40 square kilometres, but the actual 3D program will be for 80.
Looks like some big big acreage maybe on its way. Double!!!!!
:-)
SimonT
But by delaying the accounts they aren’t trying to hide anything.
Why?
Because there is a second set of results to be issued for the June period (when the original end of year is) at the end of Sept.
So that kinda rubs out the theory they are delaying results to hide something. It’s all in the RNS that informed us of change of accounting dates.
Try harder next time. :-)
Sea7
I give up. You keep going on about the same thing, that has been rubbished so many times.
Go email PH, I'm sure you'll get your answer then.
Infact, if I was you because you distrust the company so much, I would suggest you not invest in it.
But do yourself a favour and stop posting....it's just making you look a fool.
Page 4 of the presentation.... Line 2 (pretty much the front page of the presentation)
"Productivity of flagship West Rustavi field demonstrated through exceptional test production rates of 1,040 bbl/d following horizontal sidetrack"
Now they have subsequently told us it has been dropped to 700bopd due to storage. PH has specifically said, any lower than that and they risk damaging the well integrity.
However you're now suggesting that the well is producing less than 700bopd.
Where on earth do you dream that up from??
How about they have actually turned the well back up to 1100bopd because they didn't want to risk damaging the well on such low rates? Maybe they have increased the truckloads out per day? You don't know!!! Just because it doesn't say so in the RNS or presentations it doesn't mean it isn't happening!
Posting comments of 'You would have thought' really doesn't help your case. Facts my friend, Facts!
:-)
SEA7
I'm surprised that you think that the company would release any price sensitive information via email. Maybe some of the companies you've invested in (FRR for instance) you received such unregulated information in emails. I mean we all trust Zaza and what he says in them don't we....Not!
You can try and spin it as much as you like, we will not get any price sensitive info via emails, and if PH did start dishing it out via that then I wouldn't want to be invested in this.
Integrity when investing is golden.
Well 16aZ is in test production until the gas pipeline is built.
SEA7
You were banging on about this last time you wanted a 'cheap' in.
Check the last RNS about well 16AZ (16th April 2019)
I quote "Production from well 16aZ continues to validate test results"
So if there was any significant halt in production then it MUST be reported to the market via RNS.
There hasn't been any such RNS.
Just because the company failed to report PH bowl movements, it doesn't mean he isn't having any!
Try Harder next time!!
Relax peeps.
When the ‘shorting gang’ arrive it shows we’re about to turn the tide. These guys n gals aren’t here to help you and stop you making a bad investment. They are here because they want to buy in themselves and are just trying to get that last little drop before the price rebounds.
I agree with Simon here. Any new information should be released via RNS before any conference/ webinar/ interviews. And it doesn’t matter if the conference is just to institutional investors, they have the same legal right to information as any other investor.
I would suggest that the conference didn’t really do much good in tempting new investors either, as the price has dropped further this afternoon.
As for the comments about the company keeping quiet because they are in tight lipped negotiations, well yes that may be correct and they may be in confidential discussions. But I’m sorry to say that doesn’t explain the lack of news relating to on going operations like storage or rig movement or new drill activities.
The lack of news means the company either haven’t done anything new, or they have broken the rules by not informing investors about significant events.
Of course the term significant does have a wide and broad meaning. But that’s what you get with an Aim listed share I guess.
High risks, high rewards.
I must admit guys, this silence is slightly worrying.
There is so much going on, that I can't understand why there has been no news...on anything.
Whilst I get the whole 'waiting for storage & Bago gas deals', surely they would have completed ground works on the next bunch of wells (I appreciate Well 38 already has this done), but 3 & 30 could still be prepped. So why no news on this? Or why no news on the storage? Even if it's not completed, surely they could have put an RNS out stating that company X has been contracted to undertake the works & expected to be completed by next month/year etc. Or even rig movement? Still no RNS or news on anything.
Have they really been sitting there for the last couple of months doing nowt?
PH in his last interview said the fundraising was "to significantly accelerate things", but IMHO since the raising things appeared to have slowed down & stopped almost!
Now whilst we all sit there looking to the great future of wells being drilled left right and ctr and the big exciting things to come, what does worry me is the 'potential' issues that could affect any oil & gas company. Especially a young AIM listed exploration company. With the company being so quiet, it does make me worried something nasty is potentially lurking.
Maybe it's my suspicious nature kicking in, but I can't help the feeling that something isn't quite right.
I love it when these boys turn up and try to trash the share.
You have to ask yourself why they do that....well....it's not because they want to give you good advice and save you from a bad investment!
No its because they are either taking or are just about to take a long position in the company. Once they have your cheap shares they then go quiet and enjoy the ride back north.
There is no point getting angry with these traders, in fact what it does do is weed out the weak investors that don't understand and believe in the true value company.
This will ultimately see the rise being stronger when the time comes.
There are some people in this world that play on other people fears, for their own gain. And when those people resort to talking down a share (for their own gain), then I know it’s time to buy. Fundamentals speak for themselves, so for me....it doesn’t matter what people say.