So Anshof did produce a drop of oil in Q4 - as according to Q3 report the shut in was on 19 September ... making cash flow from operations (pre-capex) negative by $2.8mn. Still would have been negative, as previous quarter they had $556k of revenue from Anshof. Shut in through March when permanent production facility scheduled to be ready ... so Q1 also won't be stellar (Z&G continues is steady decline (was 330boepd when purchased).
New Anshof oil wells better come up good, or these constant losses will eventually lead to trouble
Apart from that, we see that all things green are totally back burner - can only get investors for hydrocarbon production ... which could mean that eventually they will have to take the hit on cleaning up/remediating Z&G wells (remember one already shut in but not written off)
Only thing interesting in Romania is this criptic text "Romania – New Ventures finalised the review of a combined production, appraisal andexploration opportunity, an indicative offer has been submitted and is under review bythe farmor." Meanwhile their partner Reabold Resources just survived an attempted takeover of the Board ... so doubt they have interest in any more funding in Romania, when they have better assets elsewhere ...
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So Anshof did produce a drop of oil in Q4 - as according to Q3...
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