Member Info for Urraca

Happening quickly now. Still lenty of upside, we were trending around 90p before this sorry saga kicked off. Maybe Kon is going to just buy the rest of the comany?

Had a look at advfn. They are talking about the tax credits booked from previous losses, not that they are running out of cash now. In the same way, graybird, if you make a trading loss in any year, you can declare it on your tax return and use it to offset against future profits to reduce your tax bill. So those losses are historic.

In the op update on 16 Jan, the comany said :"JOG is also pleased to report that the P2170 work programme and budget for 2019 has been approved. The Company's share of the work programme will be funded from its existing cash reserves, with total Capex for 2019 expected to be in the range of £7 million to £10 million. This includes the Verbier appraisal programme expenditure which has moved from 2018 into 2019 and remains in line with previous guidance."

Probably a bit more reliable than an anonymous post on a BB, but I haven't read what was said on advfn. Were they firecasting a cash shortfall in 2020?

Yes I choked a bit when I saw Malcy describe 2018 as good for shareholders. We were around 54p at the start of 2018, and 44p by the end. I only have a very small SDX holding now. I ate a loss, but there are better opportunities out there. I'll be looking to get back in later, depending on price, but I fear that any further slippage in getting production up will be punished. I'm also worried that the TSX delisting will cause some short term selling.

Good luck to the stayers.

I think that will do it for the institutions

The critical thing for medco is finding a price that is acceptable to institutions. So I think they're doing the rounds with the relevant IIs and if they can get acceptance for over 50% of the shares they will present the Board with a fait accompli. As DNO did with FPM. In which case, the RNS announcing that could land at any time tomorrow, or even Tuesday morning. I personally think the institutions will prefer to lock in a reasonable shrt term proft now, rather than take a loss on an immediate sale, or accept capital for deployment being locked up in Ophir for some indeterminate time. But there's lots of ifs in my speculation.

Good article, apart from Mexico getting around 80% through royalties and taxes

Well, buy or sell, it was a great day yesterday. Renewed interest, good volume, and the rerate kicking off. It will be good when we can move on from this mess, and the company can concentrate on pumping oil and making money.

I guess the plans for s fracking fleet for Arcticneft are on hold. That should free up some workng capital.

Given the massive accumulation by IIs Medco need to agree an offer price with them. They're not greedy. I mean, they're extremely greedy. But I think they would take around 60p ish. Its a good return, for a very short term investment.

I wish t woukd be hgher, but not honestly expecting it.

Couldn't agree more with dick and sonotb. If the West Phoenix went straight to Cortina after Verber that woukd be extremely positive. Been a bit of a wait, what with the delays, but we're nearly there now.

It can take the EU up to ten years to negotiate a trade deal with a country (Canada for instance). On that sort of timeline OEX and GSPC haven't even got past the introductory handshakes yet.

Sure it's not that bad, but these things take time, even if on the face of it it looks quite straightforward. Maybe GSPC are trying to introduce a JV partner on their side for example.

Wouldnt want to be out for this weekend in particular :-)

Don't think so if you check the time, the daily chart and what the price has done since

They spiked the price up to let someone sell 24,000 at 40p. Mates rates I presume. Still, its good to see healthy volume, with the buys outweighing the sells.

Bad luck itsagame. Been very difficult to buy in any worthwhile quantity here, but I see its come alive today. By the time this palaver is done and dusted, south dagi flow tested, and the first arcticneft tanker ships in July we have a very good chance of being back to £1. Depending on how things unfold, and oil price of course.

Bid moved up sharply. There's only a small number of shares in issue, and a much smaller issue in free float. Looks like the panic sellers have cleared, and holders are holding. The market cap is ridiculous, given the Company's assets.

Cheers dbno

Going behind a paywall next month. Any other good free sites for live prices?

I would hope to get back to at least where we closed on Monday. Yesterday's price crash was just bizarre.

Very good result, baffling why the sp dropped so hard yesterday