Rockrose Energy Share Discussion Threads

[cf456] 03/1/2019 16:00

A bid got to be an increasing possibility whilst the shares remain so cheap.

"The cheapest thing we could buy in the North Sea right now is ourselves."

(from 6:38)

[nigelpm] 03/1/2019 15:57

It is undervalued - two major downsides stop this being a huge position for me:

1) Andrew Austin - royal mess at IGAS

2) Decom liabilities - $200m is a large number and the treatment of it is highly estimated - i.e. could be worse than stated.

[bountyhunter] 03/1/2019 15:48

even better

[basem1] 03/1/2019 15:45

Probably part of a bigger plan to have there mits on as much stock as possible for when the £16 bid comes.

[basem1] 03/1/2019 15:44

Only 12.6m shares in issue so £76m mkt cap. Info not updated as yet. Just cannot understand the mm games here. Yes there'll be sellers, but they seem to panic at the mere site of one.

[bountyhunter] 03/1/2019 15:27

been waiting for a dip here forever having repetitively missed the boat!
a market cap of just 93m strikes me as way undervalued based on fundamentals, etc compared to peers

[5chipper] 03/1/2019 14:44

Treeshake?

[pastybap] 03/1/2019 14:40

Or even better, make a return every year, of all unrestricted cash (equivalent to current mkt cap, give or take a bit). Then I can reinvest at the same cheap price and virtually earn 100% on capital compounded per annum!

[mad foetus] 03/1/2019 14:32

Agree with that

[2prsimo] 03/1/2019 14:29

Just take it private Andrew - it's a waste of space

[kexicus] 03/1/2019 14:04

Youd need to ask Joel Riz. Not sure if it's full or not.

[rizler] 03/1/2019 13:49

Is there a twitter group? How can I join?

[kexicus] 03/1/2019 13:14

For those not in the twitter group, an excellent article from @JMHDeakin....https://twitter.com/cubeinvests/status/1080792264664932353?s=21

[basem1] 03/1/2019 12:29

What are the market makers scared of here ? Still some sort of overhang ? Surely they can't have a lot of stock on there books ?

[costax1654x] 03/1/2019 12:04

https://cube.investments/rockrose-energy-rre-happy-new-year/

[cf456] 02/1/2019 20:01

"An update from RRE this morning which confirms many of the things that Chairman Andrew Austin and I spoke about at our recent interview. Production in December reached 11,200 b/d and guidance for this year is 10-12/- b/d. Cash is very strong at $121.4m of which only $53.8m is in DSA’s. With the company throwing of cash and increasing their chances of more deals the outlook is bright, with the Arran deal shoring up the medium to long term for RRE opportunities are significant. If you missed the interview it can be seen here."

[basem1] 02/1/2019 16:49

Yes I wish I'd taken more notice first thing but was watching another one of my stocks that had returned from suspension after 3 months too closely. If I'd joined the dots I'd have bought at the open and not sold some today at 6 pounds aswell.

[homebrewruss] 02/1/2019 16:25

basem1, might be a bit more than that:

2nd Oct
$111m / £87m Cash held
$20.9m / £16.4m tender offer

31st Dec
$121.4m / £95.1m Cash of which $53.3m / £41.7 is restricted.
$68.1m / £53.4m is unrestricted.

------------------------------------
$30.3m / £23.75m cash generated in Q4

See:

[basem1] 02/1/2019 16:20

Edit $16.37m returned via tender offer.

[basem1] 02/1/2019 15:59

So am I right in thinking the following ? We now have $10m more cash than we had on the 2nd October ( 121.4 - 111) And this will be after purchasing the tender shares back of $17.2m ( 3,072 x 5.60 ) Thus generating $28.6m of free cash flow in 3 months ?

[bobby1904] 02/1/2019 15:29

Oil price up nearly 5% in last hour!

[grandmasterglitch] 02/1/2019 15:16

Well after today’s RNS you’d be mad to pass this opportunity, so thought I’d add to my holding, just wish I’d done that when prices sank.

Can’t win them all every time, never give up trying though.

[bobby1904] 02/1/2019 15:12

Big positive jump in oil price in last half hr!!

[basem1] 02/1/2019 15:05

Thanks HB.

[homebrewruss] 02/1/2019 15:00

basem1 they will be adding a further 5,200 boepd via the Arran field towards the end of 2020.



I think an FDP for Tain is also due soon so perhaps some more development there or more acquisitions to tie in with the 20000 boepd that AA mentioned within the next 12 months or so in the video:
'The Group has commissioned ERC Equipoise to evaluate both the existing upside potential within the Blake field (30.82%) and, the nearby Tain satellite discovery (50%). The partners are committed to submitting an initial FDP by the end of the year.'