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10.0¢ adx energy ltd

Same old team of lifestylers,,, taking the Michael... year in...

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Good Oil

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04/08/21

19:16

Post #: 55035155
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Originally posted by Euroskeptic: ↑

So, the test for the next quarter - now that hedged oil prices are substantially higher - can they generate positive cash from operations?

Q2 post hedge oil prices appear to have been in the (US$53/bbl, with June at US$57.5)
Assuming current oil prices of Brent US$75, and hedged oil at Brent US$68.87 on 80% of oil production, and 7% discount to Brent on oil sales and 300bblpd of production (down 7% from Q2) ... average oil price could be in the US$65 range and providing ~US$251k or A$400k
Cash flow from operations in Q2 was -A$783k, including -A$349k of costs that may no reoccur, so say -A$434k is the hurdle to overcome in Q3.
no help will come from gas prices, as it is now summer and hot.
My bet is that the cash pile may shrink again, unless the delay of June revenues receipt into July is a one off (I assume not).
So pray for much higher oil prices, third party funding for their exploration, or an amazingly successful and long lasting workover campaign ...

... oh, btw ... absolutely no news on the engineering study that was supposedly ongoing on "successful" IMIC-1 well in Romania.

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Same old team of lifestylers,,, taking the Michael... year in year out...imo
SGC/XST/ADX
Since 2005.. unreal.... caveat emptor
DYOR

ADX Price at posting: 0.8¢ Sentiment: Sell Disclosure: Not Held
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