Rockrose Energy Share Discussion Threads

[pastybap] 10/3/2020 17:12

Yeh bought at average 615p and sold at an average of 2020p. Was 40% of my portfolio when I bought and 70ish % I think when I sold. This time around it is a much much smaller %.

[pastybap] 10/3/2020 16:42

Dipped my toe back in here today. Hopefully lightning does really strike twice!

[dhb368] 10/3/2020 15:02

Had a limit order at 910, moved so quickly I got some at 899.
Hope I bring some luck :)

[soundbuy] 10/3/2020 14:40

9.55min

"The cheapest thing in the N. Sea, to buy, is us..."

[soundbuy] 10/3/2020 14:26

Malcolm Graham-Wood talks to Andrew Austin, Executive Chairman of RockRose Energy

[soundbuy] 10/3/2020 11:34

Russia hints at further talks with Saudi Arabia after oil prices crash

[5chipper] 10/3/2020 10:35

Trump threatens further clamp downs on Iranian oil exports

[soundbuy] 10/3/2020 10:20

Twitter


First Squawk
@FirstSquawk
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1m
RUSSIA'S ENERGY MINISTRY HAS CALLED A MEETING WITH RUSSIAN OIL COMPANIES FOR WEDNESDAY || RUSSIAN ENERGY MINISTRY TO DISCUSS FUTURE COOPERATION WITH OPEC AT WEDNESDAY'S MEETING

[kexicus] 10/3/2020 10:20

Superb post as always Bobby. Derampers at work trying to get an even lower entry.

[blueball] 10/3/2020 09:59

Well said Scipper my new target is 500p too much uncertainty.

[5chipper] 10/3/2020 09:04

Good post. Re. the price war, the market is clearly concerned that low prices could persist long enough to substantially effect oil companies.

[bobby1904] 10/3/2020 08:49

Yet again, some really poor quality posting here today. Not sure what people's motives are but here are the facts. Year-end update (31st Dec) stated free cash as $315.8m. Exchange rate then was $1.32 so this equated to £239 sterling. Today's update states £232.6m (sterling) free cash. The difference is only £6.4m despite some rather dodgy maths quoted below by others. Given that the year-end update clearly stated expected CAPEX for 2020 was budgeted for c.$200m, which bit of this £6.4m net expenditure is a surprise?! It is clear to me this means they have had revenue in from oil barrels sold and also had cash out from expected and budgeted Capex, which is all part of their 7 well programme some of which they explained is progressing well today. People should deal in facts – it makes life much more simple!! Long and short of it, is that the market has completely over sold this stock in panic. Yes, I appreciate sentiment is a major factor and there is no denying that point, but on the flip side how many times will you be able to pay a share price which represents such a substantial discount to cash (c.50%!) in the bank, especially as the company is also debt free. The oil price situation will stabilise at some point. None of the parties involved (Opec/Russia) will keep a war like this going on indefinitely. In addition, RRE are also very well placed indeed imo to take advantage of other smaller companies who's funding position is much more precarious and makes them very vulnerable to a cheap takeover. I remain confident in the long term position here irrespective of the inevitable shorter term volatility.

[senn1] 10/3/2020 08:04

Agree with nige for a chsnge

20 mill down on year end update I know capes is high but no money made in the 1st quarter is concerning

with oil set to stay I the 40 zone then what oil was 60 + for most of the early months

[dragon35] 10/3/2020 08:02

Yes as opex is $28 so they are delivering FCF and have a $3 premium to Brent but it's just a case of where they spend it. I would expect approx $150m profit this year blended from production already carried out and future sales. That covers capex if they delay the 2p programme. Worst case they take $40m from cash to get the extra production in line.

[gooner1886] 10/3/2020 07:55

Drilling costs arent free! Thats a great rns

[nigelpm] 10/3/2020 07:54

Cash is c.£10m less than year end as well - presumably lots of capex being spent?

[nigelpm] 10/3/2020 07:50

Decommissioning costs?

[paleje] 10/3/2020 07:44

Timely. Reaffirming cash. Buy a pound for 50p.

[gooner1886] 10/3/2020 07:41

Good rns this morning