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#SENX Current production 2415boepd (Q3 2020) at a cost of $8.96/boe.
Looking to add 5670boepd over 18-24m
That works out at adding ~945boepd each Q over 18 months, or 708boepd over 24 months
Drill results imminent...
"18 month to 2 year work programme"
Looking to add 5670boepd over 18-24m
That works out at adding ~945boepd each Q over 18 months, or 708boepd over 24 months
Drill results imminent...
"18 month to 2 year work programme"
#SENX Now, from their own numbers put out in ^ presentation let's assume hey never get a better netback than in Q3 2020 ($16.51/boe)
At current production (2415boepd) they're getting a yearly operating profits ~ (2415*16.51*365) of $14.5m (£10.4m)
Market cap £43m, no debt
At current production (2415boepd) they're getting a yearly operating profits ~ (2415*16.51*365) of $14.5m (£10.4m)
Market cap £43m, no debt
Expecting (
) the Moftinu-1008 well results any day now and the company has already suggested that:
"The Moftinu-1008 well is expected to produce at similar levels to the existing Moftinu production wells." -22nd Dec 2020
That's about 1000boepd (1,000 for M1004, 972 for M1003)
) the Moftinu-1008 well results any day now and the company has already suggested that:"The Moftinu-1008 well is expected to produce at similar levels to the existing Moftinu production wells." -22nd Dec 2020
That's about 1000boepd (1,000 for M1004, 972 for M1003)
Let's assume we get an additional 1000boepd
That takes us to 3415boepd and let's stick to the Q3 2020 net back of $16.51/boe
That then giving you (3415*16.51*365) $20.5m of operating profit £14.83m, with lots of headroom to grow
At £43m market cap, IMO, it's very cheap
#SENX
That takes us to 3415boepd and let's stick to the Q3 2020 net back of $16.51/boe
That then giving you (3415*16.51*365) $20.5m of operating profit £14.83m, with lots of headroom to grow
At £43m market cap, IMO, it's very cheap
#SENX
I would add that this is an intentionally low netback picked by me.
As @Unlucky_Dude2 states:
"Beginning of 2020 they got $7.45 per mcf, oil was around $60 too.
Covid happened oil prices went down and average they got $4.45 per mcf and $30 per barrel."
As @Unlucky_Dude2 states:
"Beginning of 2020 they got $7.45 per mcf, oil was around $60 too.
Covid happened oil prices went down and average they got $4.45 per mcf and $30 per barrel."
The reality could be a significantly higher figure, but I felt that you can show a very rosy path forwards here looking at only lower end estimates, as that allows for some wiggle room with unknown factors.
