Bargain at 30p levels - Undervalued - Revenue making - BULL
Updated
Extremely bullish here & been waiting for months for this opportunity to buy down here.
Bought at 30.4p & will buy more if I get 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 will be more as this is a revenue growth making company.
Sorry for format copy paste wrong but here is the values for last years.
53.7m 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 this levels.
Three months ended Twelve months
December 31 ended December
31 (audited)
US$ million, 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
Bought at 30.4p & will buy more if I get 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 will be more as this is a revenue growth making company.
Sorry for format copy paste wrong but here is the values for last years.
53.7m 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 this levels.
Three months ended Twelve months
December 31 ended December
31 (audited)
US$ million, 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
Trade active
Still hold shares & plan to buy more once dust settles as I think the company will turn around once South Disouq comes online later this year, so one for the patience investors. 24.5p-25p is the support at moment
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