Member Info for workover

Vista man Thanks for your well structured response! I also find it strange why it’s trading on a future PE of 1! I generally agree with you ... but if something is too good to be true .... The only negatives I’ve mentioned as I see them are the poor comms and stacking of decommissioning liabilities!

Also to point out 1 key fact : decommissioning liabilities are significantly bigger than the entire market cap of the whole company ! In terms of ratios it doesn’t make good reading ! Even malcy who is paid to ramp them once said the company is regarded as a liability gatherer!

I have read every document that the company has produced ! Please show me exactly how they plan to execute the decommissioning strategy and address their liabilities! Saying that they expect decommissioning liabilities will be x% of FCF or EBITDA is not a good answer !

The catch is the decommissioning liabilities that the company is gathering up from a wide variety of sellers! I belive the market wants to see the money before accepting the huge liabilities... The other “catch” is that the company is extremely secretive and doesn’t provide investors with the requisite information to analyse this as a serious oily!

You’re lucky to be joining in at these prices ! Most long term holders just use these as an income stream (tucked in bottom drawer)...

Gooner

-1 is a little harsh! I would say 3! You never know the 29% might come in and I could be spending Xmas in the Bahamas! £3.75/ share is apparently what their fag pack calcs tell them it may be worth! It’s going to get there in 4 trading days according to the oil and gas “experts” !

Guys sorry for the minor iPhone correction typo “wants” was changed to “wasn’t” automatically!

Apparently I’m just a humble Uber driver lol! Even Taylor Swift’s husband who left school at 16 thinks he is more articulate or better educated! Go figure!

Anyhow it looks like we are now finally allowed to discuss the downsides about the company! So in a scale of 1-10 how awful of an investment has this been over the past 5 years (1 being atrocious and 10 being Serica Energy and Faroe Petroleum)

Discuss....

Very surprised and shocked at the way that some have reacted to what are very decent results! The company is active, debt free and will be churning out significant cash at current oil price. Ignoring the one-off items the results were solid. I think it’s some of the cheap shares bought at 15-16p being sold which is understandable. Like most here I agree that these should be at least double where they are today ... just need results from the current drilling campaign to start filtering through!

Yes according to spitdummy he has received an email from chariots PR. Very unlike him to admit he’s wrong but it looks like when he was rallying the troops he got the info on his speech wrong !

Good luck all holders !

Yes must be on days off and Taylor Swift at parents...

Rallying the troops on ii to contact the company... Lots of passive aggressive stuff there!

I think we should all just strap ourselves in for the drill which is a few days away...

I don’t know why they expect an RNS for another company reaching the end of their well ! When we have the drill on ticket or on hire they will RNS

In Larry we trust !

Yes Gooner !

If we spud by Friday and potentially drill the well in 2-3 weeks ... is there still time for chat to deliver on farmin promise?

I don’t want to be fully invested until the results ! My plan was BESBS (as Spitfire/ wheepo put it)!

I’ll slowly derisk before 15th October! I might leave a little just in case....

Also looks like this Harhoo chap has filtered the entire BB and has just started talking to himself!!!! CHAR can sometimes have that side effect !!!

JD You need to look at the profitability excluding exceptional items as they will not be around forever ! The company on an operational basis is profit making and highly cash flow positive from 2020. They just need to spend their cash wisely this year

I was hoping to derisk on a pump up before spud ! Looks like I’ll have to wait a few weeks until Larry announces a farmin partner then derisk! I definitely don’t want to be holding the entire wad until the results ! An RNS like Cormorant will send us into the lisothphere

£3.75 or 3.75p?

Tdante I don’t know where you are getting those figures from! What I see is that revenues are up around 50% compared to H1 2017 ... 30.1 million vs 20.2 million EBITDA is up 58%! Cash is down slightly due to additional investment spending Operational break even has remained pretty much the same ! The results are solid but they just don’t have the bells and whistles the market was hoping for

I’ve got to be honest I’m a little underwhelmed by the RNS. I was looking for more details regarding the operational plan and the future targets. They haven’t added anything new. I know this is the results to June, but the “post period end” should’ve provided more useful info . I can see why some of the locals are getting restless! I’m still hoping we’ll close around 20p and consolidate there before slowly creeping upwards again... Good luck holders

I agree slippery

Just started buying here and will continue to accumulate overtime until year end ... ready for action in early 2019! I believe that all the bad news from 2017-2018 is well and truly priced in to the share prices.. I don’t think this will see the highs of £3-4 Anytime soon but a return to £1.5 is definitely achievable!

Thanks for clarifying Roydon !

Nope ! Too much of a conspiracy theory ! Also beyond illegal...

Roydon

What results are you referring to ?