RE:RE:RE:Q3 thoughtsHandsomeTaxman wrote: I appreciate your comments Suppe11.
22,000 could be tough, this is on their high side of guidance. I had used it simply because they exited Q2 around here but they are behind their CAPEX for the year. So with more CAPEX needed Q3 and Q4 to hit their guidance, i was hopeful this will maintain Q2 production numbers. Fingers crossed anyways. If i change my spreadsheet to 21,000 it lowers cash accumulation to 36 cents per share. Still good in my view.
I had originally struggled with how they got to 22.70 of OPEX but the income statement showed $70,616,000. Page 16 of the Management Discussion and Analysis however showed their reconciliation. I'm not fully understanding that reconcilation, so used $30m as the posssible hit to BV, but i didn't adjust cash as the comments suggested 22.7 was the true cash expense number.
The fixed expense of 18.5m was taken from Q2 numbers. Basically "General and Admin" of $6,829, "Transactions" of $157, "Finance" of $11,251, and "Foreign Exchange Loss" of $188. Then i rounded up. Notable exclusions was the "Special Renumetory Benefit" of $4,715 and "Impairment on E&E Asset" of $4,278. I still have no idea what the Special Renumetory Benefit was, i didn't see it on my first pass of reading. Can anyone else shine some light on this? Im assuming a bonus of some kind to management?
The tax vs deferred tax, i sort of assumed the tax payable was an accrual for the eventual taxes to be paid based on Q1 and Q2, which will become payable early in 2024. The deferred tax liability being the typical calculation of the possible future taxes payable based upon the assets held. I tend to ignore this, but it is included in my BV calculations.
Thanks again for your comments. Happy Friday!
@handsometaxman
Finance cost of 11m were obviously inflated, should come down in the future.
The SRB belongs to the fiscal regime there (except for the Jasmin field), they showed it in one of the former presentations.