Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
*SP not so
Can’t type so late. Ok lights out....
I agree gggg21. I would have thought that you would have to sign some sort of non disclosure document when in talks of a sensitive nature. To prevent so of those companies going into freefall for instance.
Perhaps someone more experienced can explain the process?
But it would have an effect on the other listed companies involved such as aker, dommo etc. hence why it isn’t that easy as they would have to put out an official statement too. In the podcast Simon and Alison very subtly touched this point.
Ben - I’d be happy with 1 for now. Just as proof of concept. Just get it done BOD! Please!
Highroller
That is what any self respecting board of directors would do. The question is why they don't.
surely the "gossip" of 6 plus is in public domain and many insiders are indirectly confirming the gossip , is it not the company's responsibility to state clearly that they are in talks which may or may not result in XYZ. That will kill all the pond life and more importantly keep an orderly market. This farce of insiders V Pond life has to come to an end and the management/BOD are totally to blame.
what is a 6 plus 1 shout? gggg21 you are not an insider. just shout it out.
Gggg - I’m only posting stuff people can find on the www just like I did. It’s 100% findable mostly through regulatory news releases and company statements, trading updates etc, Wouldn’t want the trolls to have any excuse to claim I’m posting things not in the public domain!
wobwat you absolute star. I now completely get the 6 and 1 shout. Quite speechless at the moment. If this comes off quite simply wow. The nomads aren’t going to allow this chat for much longer my oh my!
Targaryen- I’m speaking to Seadog on The phone tomorrow and I’ll find out what’s going on
Get a bit more accurate and maybe they will! Lol I’m pretty certain you posted that it was onshore Brazil and until facts come into play that it isn’t onshore you won’t change your opinion. It seems you may have found that ‘fact’ to now think it’s offshore no longer onshore? Honestly not having a dig, just interested to see why you’re now saying offshore?
SBP - just for clarification, are you now saying this is offshore Brazil? I’m sure you posted something slightly different previously?
====
As Wedgwood Benn famously said, " If the facts change, I can change my mind"
Wow, SBP. If you are right, then ‘#exciting times’ indeed.
WOBWAT, I will dig into this too. Thanks for all your research guys.
Just to let you know though - according to Twitter - SEADOG was not banned foe being an ‘insider’ ... see for yourself.
Thank you WOBWAT
I will keep digging. Maybe they will make me an insider too! But I am twice as old as LT, so it may take some time, LOL
SBP - just for clarification, are you now saying this is offshore Brazil? I’m sure you posted something slightly different previously?
Semi accurate post SBP but you missed out a significant amount of detail I found while doing my research which took quite some time. You might want to dig a bit deeper into the finances, the restructuring currently being attempted, the relationship between the bond holders and Dommo, Dommo’s other interests they’re struggling to support financially, the fpso arrangement - these details are all in the public domain and official. Some require translation as they’re in Portuguese. When looking at these you may also want to consider the time constraints they’re under, the money owed to lenders and bad debtors and taxes! Perhaps look at there sp this week, the week Seadog has been made an insider to stop him posting information he’s been trawling through for months!! #exitingtimes
Imagine a world where there was a listed company in Brazil, asset rich, but cash poor and emerging from bankruptcy. It has a market cap of £600 million, but only £20 million in cash. This company operates an underperforming offshore oilfield and needs a step change to restore sustainability, perhaps by drilling more wells in better locations, perhaps by improving productivity of the offshore production facilities but they simply cannot afford to do all that. They don’t have the money.
Along comes a bloke from Manchester and says, I can help if you like. There is this company in UK called MFDevCo (Brazil) Holdings Limited. I am its boss. I can ask my friends in Aker and AGR and elsewhere to take a few shares in MBHL and then reverse into your listed company with all this wealth and expertise and sort you out. They won’t want any money upfront, they will be happy with their revenue share from MBHL when more oil is sold.
Then there is China Pacific where I have another deal going, they are part of COSL y'know. They have 8 harsh environment jack up rig drilling facilities and one idle right now that can operate in your water depth. I am also the boss of MFDevCo (China) Facilities Limited which has a lease option on the rig, and Bank of China will extend non-recourse credit facilities to drill 6 wells, to be repaid from a production royalty.
We only want 49% of your company to do this, but you must hand over duty holder responsibility to us via our friends at Aker. Our due diligence and sub surface assessment tells us that we can increase production threefold. So it is win, win all round.
Anyone fit the bill in this imaginary world? Ah yes, Dommo Energia SA. Funny how their share price rocketed by 110% on the same day as the NUOG Beaufort placing
.
This post will be deleted in 30 minutes
SeaShark5