Rockrose Energy Share Discussion Threads

[robo175] 18/4/2020 20:48

Maybe we would have moved on if you had given him all the facts instead of being economical with the truth.

[nigelpm] 18/4/2020 20:30

The chap asked if he'd made a basic error. He had done and I explained it to him.

End of story. Move on.

[tomg23] 18/4/2020 16:04

Have you sold out again nigel?

[robo175] 18/4/2020 08:44

As per usual these doomongers never give the full story.

[dragon35] 17/4/2020 23:47

And covered primarily by tax paid history so not really a true statement

[nigelpm] 17/4/2020 22:57

r am I making some basic error in understanding the fundamentals.

Any help would be appreciated - thanks!

Yes, you are ignoring the liabilities which are c.£1bn.

[robo175] 17/4/2020 22:48

It's cash is valued at nearly £22 per share, best oil play out there I would say.

[dragon35] 17/4/2020 22:45

Read the company reports and you will understand that this has just been battered down with oil sentiment disproportionately to the Fundamentals. If you have patience it is more likely than not this provides a good return.

[saget] 17/4/2020 22:00

Hi, I'm new to this share and I'm sorry if I seem a bit dim but...How is this share price so low... Isn't it now valued below cash??Or am I making some basic error in understanding the fundamentals.Any help would be appreciated - thanks!

[tomg23] 17/4/2020 20:47

Good to see some decent discussion on hedges etc. The bid has been strong this week. Seems like a background buyer trying to build a position. Interesting to see who is selling though. Cav or Maq I'm assuming. Interesting to see what Tr1s surface. Just filter poor costa, hes upset that his 250 target was never hit. Isolation must be getting to him. Good weekend all

[bozzy_s] 17/4/2020 18:58

#5842 that's good news. I'd just taken info from their most recent trading update. So at least another 6 weeks of hedged oil.

[robo175] 17/4/2020 16:45

Yes I make break even, I think AA said it was around 30

[dragon35] 17/4/2020 16:38

Brilliant so about break even for the year which is very roughly in line with what I was trying to say earlier in less accurate terms!

[newkotb1] 17/4/2020 16:32

"if someone really gets the calculator out down to minute detail, but hopefully about right for debates purposes": Using Brent $27/barrel and gas at 15p/therm and all hedges and 1.24 conversion rate, I have a unit revenue of $30.80/boe.

[costax1654x] 17/4/2020 16:16

https://oilprice.com/oil-price-charts/45

[dragon35] 17/4/2020 16:16

No problem. I took production at circa 20k boepd and deducted the oil and gas hedge of circa 5k to get to 15k unhedged. It's very basic maths and completely open to challenge if someone really gets the calculator out down to minute detail, but hopefully about right for debates purposes.

[newkotb1] 17/4/2020 16:03

Sorry, last query meant for BOZZY_S

[newkotb1] 17/4/2020 15:59

DRAGON35, You stated all oil hedges have expired but from 30/4/19 Annual report it states we still have some in place.:

"During April 2019, the Company entered into a hedging agreement by hedging 3,000 boepd of its oil production at $69 for a period of 13 months from May 2019".

hxxps://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=2446&customerKey=rockroseenergyplc&storyID=14298387&language=en

[dragon35] 17/4/2020 14:50

Guess so and the CEO who is publicly on record saying it must be one too! But I guess you know better than the management who have all the facts and figures. I would be delighted to know what you think a 40% rebate of tax paid history that the company have stated will be used to offset decommissioning costs is really meant for then ?

[bozzy_s] 17/4/2020 14:27

Just to add to #5834, hedging for oil for Q1 2020, and gas 2020, 2021, 2022.

So oil hedging expired, but gas hedging until Dec-2022.

Re dividend - not expecting 85p for 2020 results. Interim 60p, final 25p for 2019 suggests we can expect a maximum of 50p for 2020 results (payable 2020-2021)..

I bought in as I think the discount to cash is ludicrous. The management have a good track record of both acquisitions and production.

While the oil business might be running at break-even now, I expect oil to recover in due course, and RRE will still be trading at that time.

[costax1654x] 17/4/2020 14:24

Fake news...oh my

[bigalan3] 17/4/2020 12:44

Dragon35. Thank you for your informative comments.