Hi Monark, I do believe your estimation are very optimistic and will provide my reasons
Cash at the end of quarter + CR = 2.46 mil + 1.6 mil = 4.06 mil
Revenue of 1 mil ("Titan Energy produced over 10,000 barrels of oil from three wells in a 90 day period to 30th June 2013 from Allen Dome for a revenue of approximately US $1million" from the news letter) and perhaps with 70% working interest at Reese 2 and 85% working interest at the workover well, maybe 0.75 million net revenue
Cash outflow = 3.14 million Administration: 0.7 mil Development: 0.4 mil Production: 50k Exploration and Evaluation: 2 million as quoted from the march quarter but some posters such as monark, BC et al. believe it will cheaper.
Therefore, cash position i believe would be 4.06 + 0.75 - 3.14 million = 1.67 million
That is a fairly pessimistic estimate given that i personally do not believe TTE would have spent 2 million on exploration and evaluation and therefore I believe that a cash position of 2.5 million (as Strauss predicted) is fair. What I am excited about is that most Shalers saw an extraordinary bounce recently. See below
Canning Basin Shale include BRU NSE OBL KEY GRK
Perth Basin Shaler include NWE EGO TTE
there is also SXY, STX and heaps more where most have had their bounces from their lows. Will it be TTE's turn soon? haha. Hope you are right on the money Strauss, very concerned about this little stock.
GEV Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
