SHE.....so much potential ...so much disappointment. Few things that stand out to me; Jewell production - SHE highlight 349477 BOE produced to date. Then go on to say 349477 total including an additional 48k for the quarter. WHY dont they report the total as 396500 like BRK. and if you want to highlight the quarter say including 48k this quarter? Plus BRK say 57k for the quarter?? How they only received $1.05m this quarter is a mystery. Jewell Produced 1.1m US and the rest 250k US. Should be over 2m AUD at 65c. Must be late with there invoicing.
I talked to David a few weeks ago so i already knew about the leak in Myall Creek and he did say that they dont find the 300k they have spent to date to be material - as to why they did not announce it to the market.
Also since there is no mention of it in the quarter David also said that obviously the costs assoicated with Louisiana wells have gone up and lead times for delivery are much longer now but they are still looking at 25-30% WI in each well and are not expecting to see cashflow materialise until Q1 2023. But to me to see any cashflow in the first quarter they would need to be drilling tomorrow.
Events subsequent to reporting date 30 june .... they really need to proof read these before sending them out. Same as the annual so many simple typos and copy and paste errors.
SHE shit me off everyday and it is frustrating to be a holder but still i will hold. Patience is the key.
SHE Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
