Question12 Oct 2023 09:06
IF....... the below is true...from the RNS....... why are we wallowing as a company.
we are 20Mcap company. of which 9.5 Mill is cash in the bank right?
Β· For the six-month period ended 30 June 2023:
o Gross Profit of Β£1,608,973
o Net Profit of Β£572,263
o Revenue of Β£3,584,866
Β· Cash balances, receivables and liquid investments stand in excess of Β£9,250,000 as at8 September 2023
Β· Robust Balance Sheet, cash generative and debt free
Β· All current projects funded for at least the next 12 months without recourse to Capital Markets
Β· Wressle is amongst the most productive conventional producing UK onshore oilfields with nearly 500,000 barrels of high-quality oil having been produced from the Ashover Grit formation alone
Β· Wells planned for Keddington, Wressle and West Newton
Β· Ongoing evaluation of new projects offering short-term cash-flow, rapid payback and accretive value