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after the fundraise el romarel would be the perfect option to progress with thry have 11 "very low risk" well prospex and 2PUD wells (proven undeveloped discoveries) that should mean very little cost to get a commerial well pumping out gas, churning revenue back into the books putting capital back into the project to get another well up and running. should be the case anyway so a fundraise isnt a bad thing if its a short time frame for well complition and testing if they can prove it runs commerially then another step towards a better valued company.
but i also agree with a consolidation. its never a good thing to start with but over time may stabilise sp creating a good base for new investors jumping in. unless nothing changes and the lifestyle company keeps moving the carrot infront of the donkey
I've seen consolidation on many shares over the years and but for a tiny amount the Sp slides a great deal from day one and goes on for some time. Imo this will be no different . Sometines better to sell up and buy back in when settled but just my opinion. How lomg will the money last that is in the bank ? when is the next dilution if any ...when will be the next big company purchase ? questions to ask oneself ....this is sub 2 mill mcap for a reason .mmmm what though ?
Completely agree mate
mms will lift sp above nominal value 0.10p as they did in the last rise into placing 0.12p which was by the way was oversubscribed.
let the mms work at getting sp up into rise instead of a constant undermining the sp and having a easy ride at our cost because that's what they will do if we have consolidation of 25/1.
dont forget sp is more appealing to the masses at 0.10p level than 2.5p
better off without consolidation imo
El Romarel will be in place before we he need for Italy , Romania 700k euro , placing money still in kitty .
Yes they’ll need some money but should be able to borrow against assets .
If they raise at around 0.18-0.2 then that’s a good raise point
I agree they need money for Italy and push on spain , would like to see them sell Romania. I will be voting for.
excuse the typos. :(
issue with that is they are below nominal value which means they cant raise funds at this level and if the consolidation gets rejects then no way of fund raising which only results in one way ... a delisting of the company which would wipe out all mobey and comoany either goea private or sells assets to pay off creditors.
although a fund raise is inevitable the only play here short term id italy. they need to start getting decent revenue in to progress other projects.
I think we should vote against the consolidation that will stop more dilution until the share price moves up
How will current shareholders lose if new entrants gain .
Trigger point billy liar Smith up for re-election also lets hope one of the fat cats gets the chop
Send a strong message to bod Vote no for bill smith
Rubbish. Don't believe this twaddle. These same people were forecasting just 1 month ago 0.14 to 8.625p by 2025 - a 5,500% rise! I have averaged down over the past 3 years on the back of Bill Smith and Ed Dawson's comments about the mcap being undervalued but actually all along its been jam tomorrow with a share price now down from 0.80 to 0.080. That is a huge decrease and certainly does not represent ANOTHER year of MAJOR progress. It represents another year of disaster for shareholders. What is about to happen on June 30th / July 1st will be a disaster for existing share holders. You will only benefit if you are a new shareholder from July 1st and I doubt very much that the share price will do anything other than retrace from its new share price on July 1st.
is walletinvestor Eds tiger on the leach
Ed Dawson and Bill Smith have overseen a decline in the PXOG share price over the last 3 years from 0.80 to 0.080. There is a very big chance of a rinse and repeat here. Take care if reinvesting in co's that do do share reorgs as it can often become an almost unlimited hole of averaging down in a death spiral which normally ends in tears.
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i've just read the AGM notice, bit annoying wasn't full posted on here as an RNS.
So they can't issue shares at the moment because we're below .1p, but "they have no plans" to issue some anyway.
hmmmm smells like another UKOG/AAOG to me, think i might vote with a big fat NO and let them generate some income to pay for the gravy train rather than shareholder funds
What's he commenting on when there's nothing to say, other shares he's in must be pretty boring when he's here all the time
Commentator not observer really though aren’t you
You still here desty ?
SM it is to do with the 1 new share for 5000 old ones then the 200 for 1 after allowing the co to take all shareholdings that are under 5000 for their own pot also i read it that the paper value is so close to the SP they cant do any placings until this is achieved.
Ok not a large cash amount but they belong to holders.
Actually on further reading, doesn't look like they are creating D shares Its C shares, hmm, think i need to read up a little more.
Shares held now will still be traded as you say at 25:1 so yes you are correct
Hi Super,
So shares held now will not be traded. Where can I read about this. I thought shares held would be divided by 25 eg. 2m÷25=80k. Or am I wrong?
So shares held now will not be traded. Where can I read about this. I thought shares held would be divided by 25 eg. 2m÷25=80k. Or am I wrong?
Seems like this message board has made for some pretty unpleasant reading lately, seen many consolidations in a number of companies and one thing is always the same.. The negativity around it, when in reality the damage to shareholders is the dilution that precedes it and not (typically) the consolidation itself.
A shareholder could take the pessimistic view that the consolidation is done to move the share price above nominal value enabling further dilution in the future and that can happen, although in this case, the company has two near term projects.. An Mcap of sub 2m! and raised +£700k in January. So it has cash, and is looking for project funding.
I think what the market/some holders might be missing is the restructuring. The creation of the D shares is key here as they cant be traded on market and represent the value of the companies assets, its this that enables project funding via asset backed senior credit. If this turns out to be the case then there's a lot less to fear in terms of dilution and Ed will be making a good move. Is this obvious to anyone else?
sorry 0.095