@barondaytrading How do you rate the BoD of RPT? I'm currently unsure if they are competent or not as the RNSs are always lacking in info and does nothing to ease the market #RPT
#RPT After tax & capex cashflows are more than x2 current cap (and that's discounting by 10%)and that's just for the MX & SV fields.Also remember, that's excluding most of the last reported $53.3m which can be utilised for acquisitions. Pinchuk is next door, bid more probable now
“It’s attractive [for Mr Pinchuk]. He’s got assets next door to Regal so he can consolidate in the region. At 25p a share he’s getting all the upside on Regal’s cash and production essentially for free,” he said. #RPT#RegalPetroleum
https://t.co/fMyc5fvZAk
Back in 2011 Pinchuk made an unofficial bid and the FT Article: Stephane Foucaud, an analyst at First Energy Capital, said an Aim quote was a significant carrot for Mr Pinchuk. #RPT#RegalPetroleum
And of all people turns out to be Victor Pinchuk: Under control of businessman Victor Pinchuk, Kelda Limited (Hong Kong), through a wholly-owned subsidiary of Kylestone Limited (British Virgin Islands), purchased 24.432% of the shares of Regal Petroleum (UK). #RegalPetroleum#RPT
Very happy to have added to my #RPT - apart from the recent news, seems like solid management and its great to see an annual report in their style where they list out risks and mitigations.
#RPT Should be double that now. Proved reserves at today's production & cost/price would deliver over $500m cash ! That's before upside from 2Ps and contingent. In the meantime, they have over $40m cash (which is growing c$5m/qtr pre new well capex) and no debt #RegalPetroleum
#RegalPetroleum *Proved* 1p Reserves have surged by 1460% to 27.8 MMboe. Today's 2,800bopd or 1 MMBOE /annum adds $20m/annum to cash pile (pre new well capex). Today's gargantuan upgrade indicates $500m+ can be added over almost 3 decades (at today's boepd,cost base & spot price)
#RPT always hoped for a significant acquisition to increase production and reserves but today's news changes everything. Regal now have the cash, reserves and equipment to increase production massively inhouse 👌