What's the old price before share re-capital? |
https://x.com/share_talk/status/1877329834172399721?s=46 |
Going up in a total straight line here. |
I don’t know but the share has put on 25% recently not sure why |
I used to own these a few years ago and just noted the share price was back in the 200’s again - did they do any share splits/co solidayion and pay some special dividends?
Just curious what I had would have paid me/be worth now?
I recall it was all quite complicated |
What’s the consensus here looks worth hanging around for more payments? |
nice cash payment |
 SP Angel today:Capricorn Energy (CNE LN) 230p, Market Cap £162m: Resumes Egyptian investmentsCapricorn reported average 1H24 production down 17% y/y to 26.2kboe/d generating $80.3m revenues and $62.6m operating cash flows to end the period with $40m net cash as at June 30.The Company reported receivables in Egypt have reduced from $169m to $145m in 1H24, with a further ~$20m received so far in 3Q24, and is progressing PSC amendment talks with its partner and EGPC.Capricorn announced YTD24 production of ~24.7kboe/d and reiterated the 20-24kboe/d FY24 guidance range, with development drilling operations resumed in Egypt based on a liquids focused strategy.In Senegal, start-up of Woodside's Sangomar development could lead to a potential contingent payment of up to $50m in 1Q25 if crude oil prices remain above $60/bbl in 2H24.The stock is up on the back of a solid 1H24 operational performance from Capricorn, which was boosted by the improved fiscal landscape in Egypt that has seen $34m collected against its Egyptian accounts receivable in YTD24.The Company also remains committed to returning any available proceeds of the Woodside contingent payment to its shareholders, but is first responsible for the payment of disputed taxes in Senegal arising from the sale.18M on from the leadership change, Capricorn has made good progress across its five key priorities of capital returns, cost savings, scaling back non-core operations, maximisation of value from Egypt and a corporate culture change.We think management still has to demonstrate greater value from this stand-alone small-cap Egyptian producer than was available from the merger options to create a more balanced larger player preferred by the former management. |
Subscribers only i believe |
SP Angel today:-performanceCapricorn announced average 1H24 production of 25.4kboe/d (45% liquids) is in line with the 20-24kboe/d FY24 guidance range, with drilling activity recommenced at the end of June and three rigs under contract.The Company reported receivables in Egypt have reduced from $169m to $145m YTD24 enabling a current net cash position of ~$40m, after settling a $25m contingent payment to Shell and paying the $50m dividend.In Senegal, start-up of Woodside's Sangomar development last month could lead to a potential contingent payment of up to $50m in 1Q25 if crude oil prices remain above $60/bbl in 2H24.A solid 1H24 operational performance from Capricorn, which was boosted by the improved fiscal landscape in Egypt that has seen $108m collected against its Egyptian accounts receivable in YTD24.The Company remains committed to returning any available proceeds of the Woodside contingent payment to its shareholders, but is first responsible for the payment of certain taxes arising from the sale.Capricorn believes its market capitalisation implies that the underlying net asset value in Egypt is heavily risked, but we think management still has to demonstrate greater value from this stand-alone small-cap Egyptian producer than was available from the merger options to create a more balanced larger player preferred by the former management. |
Labour will destroy the UK Oil & Gas Sector.
Tories have no chance, a wasted vote.
Vote for Reform, the only party with the possibility of winning.
Tell your family & friends, Not just for Oil & Gas, but for Great Britain.
17m+ voted for Brexit, vote REFORM! |
cat33,
You can only read it if you subscribe to it.
LOTM |
SP back down to where it was prior to the Sangomar first oil announcement today! I have added a further £5000 of stock to my holding, seems cheap to me irrespective of the uncertainty with the Waldorf situation. |
I did think the milestone would be achieved & yes Woodside have cut it tighter than one might have liked.
I had been watching the FPSO to see if a tanker came alongside as that would be definitive proof that first oil had been achieved, but that hasn't occurred yet.
The only issue with the statement is that there is no real definition of how much tax Capricorn might have to pay to Senegal out of the $50M they will now very likely get.
I mean if its like $25M to settle all the tax bills then the payout is going to be a lot less than people might be expecting.
Never the less its a positive outcome compared to the current Waldorf story.
LOTM |
There’s no way that Woodside is gonna declare first oil in the next 4 weeks.
How about 4 days ;-) |
First oil achieved at Sangomar!Cash |
Exciting news this morning. |
There's no way that Woodside is gonna declare first oil in the next 4 weeks. |
The worrying bit of the article ......
"The North Sea Transition Authority and Offshore Petroleum Regulator for Environment and Decommissioning have been kept appraised of the prospective holding company administrations, and have provided certain assurances to the proposed administrators.
A separate secured bond with $50million outstanding has been issued by Waldorf Production UK, another group subsidiary.
The main assets secured in favour of this bond are its 20% interest in the Catcher field - separate from the 20% interest in Catcher previously noted - and 29.5% interest in the Kraken field.
Again, Waldorf Production UK, which owns these assets, is not in administration and will be engaging with an ad-hoc committee of bondholders in short order."
-----------
In other words the old CNE assets have this $50M bond that's now in default secured against them!
Looking more & more messy :(
LOTM |
Oh my that could throw a spanner in the works !
Could open up a lot of unknowns ..............
Will they still get the Columbus field or not ?
Will they still get the other $22.5M in 2025 ?
& what about the $48M liability that was covered, but CNE let Waldorf use that cash in the meantime!
All of that on top of the Senegal end of June deadline ...............
LOTM |
Hi Plasybryn,
There having a laugh aren't they (SP Angels)
The old board spent money like it was confetti ............
The new board stopped a whole lot of cap-ex on various high risk prospects around the world to start with.
On top of that they decimated G&A expense's cutting them from $70M annually to roughly $20M from the start of 2024.
On 72M shares that's an annual saving of roughly £0.56 per share, that was needlessly being spent by the previous board.
SP Angels should be ashamed of themselves to put it mildly.
LOTM |
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