you are correct frus, the baker hughes is not finalised at all......so not sure why thats been said. thay have just said that there in advanced talks and a joint press release will follow shortly.... but that could be 2015 with san leon lol.... time will tell
The cash flow generated from the near-term development of Alpay Energy's assets is expected to make San Leon cash flow positive across the Company's entire portfolio of assets by Q2 2014 and to deliver significant cash flow by Q4 2014. This will allow the Company's longer term projects with huge upside, in Poland and Morocco, to develop while negating the need to come back to the market for further funding.
Ok the placing was for the acquisition of Alpay passed at the EGM which is now a no-go so the capital wilL now be spent in Poland !
"The main rationale for the Alpay transaction was to provide cash flow to the Company. However, subsequent deals in Poland, the Company's core operating area, have positioned Poland to deliver cash flow and production more efficiently, enabling the Group to reach its target of becoming at least break-even on a cashflow basis during 2014.
Looks like events in Poland - Ukraine - have overtook plans
Re: Baker Hughes deal finalised...Searcher why are you saying that as if its a done deal, when it's not. You are trying to use the power of suggestion to make it look like it is. The rest of your post does ease back and repeat's what the RNS actually said ie: Significant progress has been made and a joint press release is expected shortly. But surely were not going to forget the Turkey fiasco so easily are we? What was it now? The Alpay deal will be completed in 2wks or less. I think anyone with the smallest amount of greymatter can see that------YES once again the magic box has come out, the goalposts have been shifted and the main near term target changed.....Lost count over the last 3 yrs how many times this trick has been pulled but each time the result is the same. SP down.
The only bright light in a dark Eastern Europe is that with all the carp going down in Ukraine makes the dash for gas even more imperative in Poland, OF should have kept it shut regarding Alpay until due diligence was completed, made himself look rather stupid now with his previous RNS comments about Alpay being a game changer cash flow wise, let's hope that Baker can bring some cheer to what has been a pretty dour 24 months and OF learns to keep it shut until there is something concrete to say, think everybody has had enough of his smoke and mirrors RNSs
so for the guys who were saying turkey was not going to happen ( you were correct) and who got slated for that opinion and being personally attacked.......... you were right all along..... its was pretty obvious it was not going to happen due to no news on it......
im glad they have finaly released an RNS tho...... lets hope we get production this year from poland, thats the only way i can see the sp will rise.......
i do feel positive about poland and the deals we have over there........
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.