The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Anyone with and modicum of sense knew that another raise would be required. I knew this when I contributed to the Open Offer, 10 months was never going to be long enough to get to revenue generation. Depending upon the nature of the fundraising its good news that this is now hopefully proceeding in order to enable QFI the time and resources required to get contracts signed!
tigger, I wish it was $225MM but $22.5MM is the correct number.
chimers, you will find nearly all the LTHers post on ADVFN. I read ADVFN board but find it very wasteful in terms of time required versus knowledge gained but still do so on a daily basis!
Everyone is expecting a corporate event (VC taking up a share at a higher than current valuation) for FVR, but then this has been widely anticipated now for ~2 months and its getting rather boring waiting as there has been an absolute drought in terms of official news (RNs) this past 4 months. Offsetting that has been presentations by FVR and DA at the Capital Markets day which were quite positive without giving any figures.
Vista
See link to tweet of Malcy referncing Jamie Nimmo of the Mail on Sunday.
https://twitter.com/mgrahamwood
Vista
People should always do their own due diligence! Just because something appears on the internet doesn't make if factual. Articles often have motives beyond what appears to be so. See interesting article on manipulation / bullying on financial bulletin boards.
https://www.reuters.com/article/us-online-stocks/special-report-the-stock-the-web-the-ceo-and-his-lawyers-idUSTRE6AL1S520101122
Vista
romaron,
Their production is 90,000 boepd post latest acquisition completing. See updated presentation link. Next quarter the regular quarterly dividend will be increased to 10% pa. Dividend policy of 40% of FCF. Good for a retiree like me!
https://d1io3yog0oux5.cloudfront.net/_16424a45b7d06b8b8eb7b884645e1dad/dgoc/db/557/4307/pdf/DGOC+-+IR+-+Huckleberry+-+Acquisition+vF.pdf
Yip, I did leave off the "/share" by mistake BUT its clearly what I was referring to from the earlier acquisition RNS. I can't believe there is so little apparent interest from PIs in this share. (judging by the activity of this board)
For me its a great dividend share which will be earning 9.8% (at the current SP and exchange rate) which is highly defensible given the low well depletion rates. Only downside risk I see is local US Natural Gas prices.
The acquisition track record and now a share buyback should help support modest capital appreciation as well.
I continue to buy.
Wahlberg, I appreciate its net income that's used for the P/E multiple but we don't even know the tax position for 2018 yet never mind post Marathon acquisition for 2019. EBITDA is what is available, the NIAT for 2019 will not be known until April 2020.
I believe AA said in an interview an EDITDA of $200MM post Marathon acquisition but that of course depends of oil and gas price.
With 12.59MM shares in issue this would give EPS of = 200/ (12.59 * 1.31) = £12.12 per share. You can work out what the SP would be depending upon the P/E.
Yellowsnow, more bull s**t as usual. DA had a total loan (not just from Tern) of $532k in mid January. In mid April they just received a total loan of $419k. If you look back the loans have been once a quarter. So for 2 quarters the total loan has been $951k. This is a monthly burn rate of $158.5k, nowhere near "$400k minimum" you quote but when have you been interested in the truth anyway!
As Sweepie states there have been a lot of staff additions and new office accommodation and the burn rate is reducing and hence clearly revenue is increasing. Maybe not at the rate we hoped for but it is demonstrably increasing.
Rookie,
The link doesn't work. Copy it into your browser and change cXm to com and it will find the page. Its an interview with AA and does state the $30MM revenue.
Vista
Sweepie, I wouldn't waste too much effort on replying to YellowSnow, his opinion isn't always reliable, it depends on his trading stance at the time! A copy of his post from March 6, 2017 below. Needless to say that wasn't too accurate either.
"in terms of the multi billion market that DeviceAuthority secures - at the heart of - embedded in the IOT
it's simply a matter of time before cisco or dell pick a large global mega corp buys DA for a few Billion $
sound fanciful?
well then go look at snapchat, a here today, gone tomorrow type company.
DA, here to stay with patented technology, embedded into global corporations products ensuring Data being sent and at rest throughout the IOT is Secure from outside hackers.
Not long before it takes off to triple figures market cap."
DGOC already has one of the best dividends available (3.4c / qtr) in the O&G sector and it has a dividend policy of returning 40% of FCF. With the acquisition of HG Energy it will add 20k boepd which will in turn increase FCF by 19%. The company states it will have a greater than corresponding increase in the dividend per share. At today's SP the current dividend is 8.1% and with a >19% increase indicated it would be > 10% !!!
Hopefully the company will get more attention from investors that it deserves with 90k boepd production. A move to the main market might help.
gkb47, Baron has >8000 followers on twitter. I have seen in the past the positive effect it can have on the share price when he takes a position in a company. Many PIs are more inclined to buy if he has taken a position. Can only be positive for Enquest.
Agree Workover, IOG was a nice distraction while we are suspended but better not to get into that mess and concentrate on Marathon. If we have too much cash a dividend would always be nice.
rxdav, I can assure you it was not me who complained. There is very strong opinion here that you can achieve higher value on your own, so as far as I am concerned personally that's fine, RRE can look elsewhere. So ignoring the risk of the administration of your creditor and the high level of debt, what kind of farm-in and % dilution can you expect? The SP was 12p before the RRE approach broke. Are your BOD fully aligned with PI interests? You won't see me on this board again, I have no interest in de-ramping IOG.
Smut,
I hold RRE and am very glad I do. They have and will continue to make a very decent profit for me. RRE have offered a very fair price for the LOG debt. I am glad they didn't offer less out of respect to the LCF bondholders.
RRE may nor be successful with our bid for IOG but RRE will continue to grow. Look at how the company has grown from early 2017 with £13MM equity raised (and £24MM returned to shareholders) to today's £100MM market cap with no debt and likely £200MM market cap upon re-admission. Contrast that with IOG's financial position / track record and I know which company I would rather be a shareholder of.
Nearly all of Motley Fool" articles are "marketing" for someone. Most of them are total s**t and invariably the numbers they quote like P/E are absolute rubbish. They never quote a basis for any of numbers provided. I used to post comments when I came across these on Yahoo Finance and let them know what I thought of their financial acumen but Yahoo have removed this feature!
Lets hope first oil comes before the end of April and is swiftly followed by good drill results.