You are probably right there with $12.5 million recently banked trolls are clearly getting pretty concerned! |
Ticked up !!IMO when this breaks out it will move pretty quick within a few trading sessions |
Got that wrong too then ...BUY price is creeping up. |
Disgraced Compulsive Liar 12bn always predicts the share price will decline on that basis he can, occasionally be correct. A monkey could be as reliable! |
Down Monday? |
Disgraced Compulsive Liar 12bn- do you think they’re worried about your threat of a Placing post receipt of the $12.5 million Chevron bunce ROFLMAO! |
MMs only paying the bare minimum 5.5p,my guess is the bid will drop soon. Have a nice day all. :) |
Chunky buys steadily going through |
Disgraced Compulsive Liar 12bn - alleged maths teacher makes schoolboy error $180,000 per month vs $1.8m ! |
 Financial Review, Cash Position and Funding
The unaudited interim financial statements for the half year ended 30 June 2024 present details on the financial performance of the Company for the period. By way of added commentary, I would note that the nature of the Company's primary business - high impact hydrocarbon exploration activities - means that a key financial indicator we focus on, and which is not always readily discernible from the financial statements, is net cash spend (or "overhead run-rate" or "burn" as it is sometimes also referred to).
In this regard, the Company's net cash spend, after adjusting for various items such as licence expenses in Uruguay and purchase of property plant and equipment in Trinidad & Tobago, was in the order of $180,000 per month. This represents the basic costs of staying in business as a junior AIM-listed company - corporate expenses, salaries, listing costs, annual audit fees, etc. We believe that this level of "burn" compares favourably with similar AIM-listed entities, is consistent with the level of net cash spend in prior periods, and meets the Company's stated objective of keeping its "burn" under $200,000 per month.
At balance sheet date the Company had approximately $1.8m of unrestricted cash (and approximately $0.8m of cash on restricted deposit in support of work program guarantees for various licences). During the period we sought to defer expenditure and minimise cash outflows as far as possible in anticipation of completion of the AREA OFF-1 farmout. As noted, once the farmout of AREA OFF-1 is completed, Challenger Energy will receive a cash $12.5 million payment, along with Chevron being required to carry our share of certain future work programme costs. Therefore, subject to completion of the AREA OFF-1 farmout, the Company expects it will have the cash needed to fund all planned activities for the foreseeable future, without the need for additional capital. |
At balance sheet date the Company had approximately $1.8m of unrestricted cash (and approximately $0.8m of cash on restricted deposit in support of work program guarantees for various licences). During the period we sought to defer expenditure and minimise cash outflows as far as possible in anticipation of completion of the AREA OFF-1 farmout. As noted, once the farmout of AREA OFF-1 is completed, Challenger Energy will receive a cash $12.5 million payment, along with Chevron being required to carry our share of certain future work programme costs. Therefore, subject to completion of the AREA OFF-1 farmout, the Company expects it will have the cash needed to fund all planned activities for the foreseeable future, without the need for additional capital.//////////bad gateway4 Nov '24 - 07:39 - 21758 of 21758(premium)
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Going for speed then, fully approve.
They stated with the last farm out they could spend the cash element how they pleased, presuming they're successful again another $12M down the line would be very welcome.
They could look for some very interesting plays of their own with $25M in the bag.////// Where do you get $25m from? CEG themselves only expect $12.5m and they admit to having $1.8m a month of losses. |
Going for speed then, fully approve.
They stated with the last farm out they could spend the cash element how they pleased, presuming they're successful again another $12M down the line would be very welcome.
They could look for some very interesting plays of their own with $25M in the bag. |
More fees being deferred by an involved party - evidences confidence.... |
Preliminary results of reprocessing by YE 24 |
Thanks, can read that, but there is I assume more, but I guess you need to be a subscriber to read that. |
Anyone able to post the full reply of oilman Jim's comment or is it protected |
Disgraced Compulsive Liar 12bn - only a fool would be concerned for shareholders when debt is swapped for equity at a premium to current SP!
Try and do the maths 12bn - didn’t you claim to have been a maths teacher at one time!
Incidentally why do you believe Charlestown will want to sell their newly acquired shares 12bn, with Bose on the board? |
The Company considers that this demonstrates a high degree of confidence in the Company, and also enables the Company to maximise cash reserves. The Company has thus agreed to issue 12,000,000 new ordinary shares to service providers in lieu of cash fees. These will be issued from the Company's standing share issuance authority.////// Shares for debt,while not a placing the result is the same,more shares flooding the market. |
Good to see such a confident CEO..
The Chief Executive Officer is entitled to a bonus related to the successful closing of the Farmout, which the CEO has agreed to receive in the form of shares in the Company, inclusive of the proviso that none of these shares can be sold within two years from the date of closing of the Farmout. The Company considers the willingness of the CEO to forego cash compensation, and instead increase his shareholding in the Company and to hold those shares for an extended period of time, to be a sign of confidence in the Company and its prospects, |
What made them increase the price of these options? Seen decreases before as share prices dropped but not raises?
(2) Exercise prices of these options have been increased as follows:
- Tranche A: exercise price 8p per share (increased 60% from 5p per share)
- Tranche B: exercise price 12p per share (increased 60% from 7.5p per share) |
Time for a song,an old favourite,'There may be trouble ahead....' |
Bid at 5.50p,now we know why! :) |
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