#LETAK KODE IKLAN DISINI
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| A bargain at 30p levels - Undervalued - Revenue making. |
A bargain at 30p levels
Extremely optimistic here & been anticipating months for this chance to shop for down here.
Bought at 30.4p purchase additional if I buy AN opp at 29p-30p
Bullish divergence on RSI.
Resistance becomes support in most plays even if it takes a few weeks/months.
44.2p - 57p next resistance. Longer-term are additional as this is often a revenue growth creating company.
Sorry for format copy paste wrong but here are the values for last year.
$53.7m in revenue
$34. 3m EBITDAX
$36.2m cash generated
Fully cashed up with $17m & $10m facility (undrawn)
South Disouq coming later this year.
Easy profit to be made from these levels.
Three months ended Twelve months
December 31 ended December
31 (audited)
US$ millions, except per unit 2018 2017 2018 2017
Amounts
---------- --------- -------- --------
Net revenues 13.8 11.0 53.7 39.2
---------- --------- -------- --------
Netback(2) 10.4 8.5 41.7 28.9
---------- --------- -------- --------
Net realized average oil price/service
fees - US$/barrel 59.07 54.39 62.43 46.70
---------- --------- -------- --------
Net realized average Morocco
gas price - US$/mcf 9.78 9.72 10.33 9.51
---------- --------- -------- --------
Netback - US$/boe 28.94 28.26 32.01 24.47
---------- --------- -------- --------
EBITDAX(2) (3) 7.1 8.0 34.3 21.4
---------- --------- -------- --------
Exploration & evaluation expense
("E&E") (0.2) - (5.7) (0.2)
---------- --------- -------- --------
Depletion, depreciation and
amortization ("DD&A") (6.3) (4.8) (17.3) (17.8)
---------- --------- -------- --------
Impairment expense (3.5) - (3.5) -
---------- --------- -------- --------
(Loss)/gain on acquisition - (4.7) (0.2) 29.6
---------- --------- -------- --------
Total comprehensive (loss)/income (4.0) (3.4) 0.1 28.3
---------- --------- -------- --------
Net cash generated from operating
activities 8.9 15.1 36.2 21.6
---------- --------- -------- --------
Cash and cash equivalents 17.4 25.8 17.4 25.8
May 18
Trade active: Still hold shares & plan to buy more once the dust settles as I think the company will turn around once South Disouq comes online later this year, so one for the patient investors. 24.5p-25p is the support at the moment.
Quote: vcm11
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