Author Topic: ORC.B - Orca Exploration Group  (Read 16750 times)

Mitch07

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Re: ORC.B - Orca Exploration Group
« Reply #50 on: October 08, 2019, 06:47:58 AM »
For those interested presentation by Andy Hanna Managing Director at Pan African Energy at last weeks Tanzania Oil and Gas conference.

https://www.youtube.com/watch?v=CS_bZ6-O-Jk

Starts at approximately 52 minutes in


Mitch07

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Re: ORC.B - Orca Exploration Group
« Reply #51 on: November 19, 2019, 08:25:11 AM »
3rd quarter had good results which were expected. Nothing shocking though nothing to reverse the trend in the share price.

Swala also released an update relating to discussions with Orca/RBC which seems nothing has progressed there.
The main issue is the price though at $6, $8.25 looks good right now. They continue to mention that they have 50% interest from class B shareholders on the deal.

http://swalaoilandgas.com/documents/Update-on-Operations-and-Discussions-with-Orca.pdf


Mitch07

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Re: ORC.B - Orca Exploration Group
« Reply #52 on: December 20, 2019, 10:10:27 AM »
Swala finally released their 2018 YE. http://swalaoilandgas.com/documents/2018-full-year-audited-accounts.pdf

Odd they put the blame on PAET for the reason main reasons for the delay. http://swalaoilandgas.com/documents/Release-of-2018-Audited-Accounts.pdf

manuelbean

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Re: ORC.B - Orca Exploration Group
« Reply #53 on: January 14, 2020, 10:39:22 AM »
The news release (available here: https://web.tmxmoney.com/article.php?newsid=6596107907223711&qm_symbol=ORC.B) implies there are negotiations for license renewal, as capex would be required to develop Songo-Songo North. From my understanding, such a capex outlay would be out of question if the license is not renewed.

After the successful NCIB (which went much better than expected according to management), a massive SIB looks warranted here. Management understands capital allocation very well in my opinion: so wait and see!

Hi Sergio, thanks for bringing this one to our attention. I am just starting my research on Orca and I would like to clear one quick and minor doubt. You say that management understands capital allocation, but until a fellow investor opened their eyes to the dangers of putting their money in short term bonds they thought it was the right thing to do. The same investor lectured them about the benefits of buying back their own shares and they agreed it was the best thing to do. I like to see that the management team recognizes that they were wrong while shifting their capital allocation strategy, but they needed an outsider to tell them what to do with the cash. Isn't this a bit of an amateur behaviour?

Thank you all for the great insights. Orca was profiled recently on the"SumZero picks for 2020". Let's hope that brings some more visibility to the company.