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?
· For the six-month period ended 30 June 2023:
o Gross Profit of £1,608,973
o Net Profit of £572,263
o Revenue of £3,584,866
· Cash balances, receivables and liquid investments stand in excess of £9,250,000 as at8 September 2023
· Robust Balance Sheet, cash generative and debt free
· All current projects funded for at least the next 12 months without recourse to Capital Markets
· 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
· Wells planned for Keddington, Wressle and West Newton
· Ongoing evaluation of new projects offering short-term cash-flow, rapid payback and accretive value