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I think you can earn quite handsome from your investment.. DneX has a pearl in her possession. Ping Petroleum Ltd. Based in UK. PING Petroleum is currently working on 4 oil clusters in North Sea. Out of these four, one is already producing about 8000 barrels of oil per day. Now, one bopd is near to USD90. She makes USD720, 000 per day, USD 260,000,000 a year. That's a lot, guys!! Net profit is about 50% around USD 130mil a year.. You found yourself a gold mine here!!
Thanks for the sharing, Nazr. 8000 barrels per day is a lot. Hibiscus is producing about 9000 barrels per day from its 2P and 2C reserves which is more than doubled than what Ping has. Is it from Anasuria? If it is Anasuria, it’s 50-50 ownership with Hibiscus right? The other 3 oil assets are undeveloped or non-producing if I am not mistaken. And out of the 3, only one is 100% owned by Ping which is Cross asset. As for the net profit, have you considered the field opex cost for Ping; the cost per boe? Hibiscus OPEX cost is approx USD20/boe. PIng OPEX cost should be higher. USD130 mil net profit from Ping seems a bit far fetched. Avalon asset which is 50% ownership is undeveloped which means it will cost a lot to develop it :)
cheng.. you basically got all your facts right. Oil cluster is Anasuria. 50-50 share with hibiscus. another 3 is now under development. Opex is about USD20/barrel. Breakeven is about USD40/barrel. Total profit from Anasuria estimated at USD130mil at USD90/bopd. DNex business model what interests me. If you look at their FR, DNeX revenue is lower than her net profit. I think this is bcos DNeX receives operating profits from Ping Petroleum. In this oil venture, all operating costs bears by PP.
@Nazr Zach
Been reading all your comment, full of info and may need self research in order to finalize the information..
Yes,You're correct.
Dnex,this stock still undervalued.
it could be double triple in short time..
But,My own self Still practising just focus on TA only,and ignore such as news or rumors.
There's a lot investor looking forwards on Dnex.
Thanks, Nazr. The details you are looking is in notes 12c of the financial report which explained why the profit is higher than revenue. Minus out the adjustment from the acquisition - the net income after tax is approx $40m ($301M-$264M). The good thing is that Silterra showing signs of turnaround from the previous report. Hope that helps.
