Are the Caza BOD in the UK shortly? Meeting with II's? And advisors?
Share Price TSE
Why a 25% uplift on Fri on the TSE and further drift on AIM? Views welcomed.
RE: Well said gg!
I'm not sure how relevant it is that "the management are all pretty well off"? We owe a LOT of money, relative to our Mkt Cap, and the low PoO and oil environment means that we are barely scraping by at the moment. We've certainly no way of financing further drilling so our production is only going in one direction for now, and we are in breach of our covenants! Quite honestly, if someone came along at the moment offering 10p a share, I'd snap their hand off for my holding! Our acreage is great, but our financial circumstances are not, so I think it might well be the case that we end up selling out to an opportunistic bid, because another quarter or two like this and I think we will be lucky to walk away with anything as shareholders. Just my two cents' worth...
Bad day tomorrow?
I suspect that the Greece disaster will cause a bad day for us for two reasons - presumably fears of a global recession will push PoO down, and as currency traders exit positions and head into the USD that will strengthen the USD which will put further downward pressure on PoO. Ugh, couldn't we have a good day at Caza just once in a while!
Well said gg!
For a start the management are all pretty well off. They dont have to sell. No company will be able to force a buyout. At worst I suppose the management could consider it, but I have faith that they wont. The market knows there has to be more funding, and until that becomes clear there arnt going to be many buyers right now.
RE: Sale price
I do not believe that the management will sell out in these circumstances. I believe that Apollo will indeed continue to support the company and that further institutional investment will be forthcoming. Outstanding loan notes are not repayable until May 23rd 2017 and are secured upon producing assets. The board (and investors) should hold their nerve. A sustained rally in the oil price will change sentiment here very quickly indeed.
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