I just don't get how a merger can even be considered when the full extent of both company's assets are not yet known and haven't been independently assessed.
I hastily held when this hit the 80's having bought in with a mid 50's average, I won't be as naive in the future!
Hopefully this will correct itself as the market recovers and the share price will hit many multiples of recent levels, I really do feel for those who hold a much higher average as it must be gut wrenching!
What? AIM companies sell shareholders down the river? What a surprise! The Regulator is about as much use as a fart in a bottle - it needs a proper Regulator with a set of real rules and real teeth. Oh, well, I can dream can't I?
Completely agree, this should only be considered once the ongoing drill programme is complete and each prospect has been evaluated and supported by an independent CPR, only then can the true value of each company be ascertained.
I have a feeling one company or the others shareholders will be sold down the river.....
i saw this happening shortly after the DES takeover and suggested it at the time, but no one took a blind bit of notice or bothered to reply. why have rkh waited so long to do this deal when it could have been done before, on better terms and had a bigger stick to wave at pmo? is fiona a true replacement for dave ? - he knew his onions and my guess is he was put out to graze for voicing his opinion. i like many others are trying to crunch all the numbers after today and assess if its a good or bad deal for ex fogy/des holders still around or the diluted rocky holders sitting on shares wondering what other surprise will be in the pipeline. i also wonder if this is all above board after the latest institutional holdings rns last week. when did fogl ever mention that their intention was to go into production? why? why? why? etc.... the market hates uncertainty and i feel the same as they do - thank god i didnt buy the 20,000 shares yesterday i had earmarked at 34p as there is NO TRUTH coming from rkh, fogl, pmo or nbl. aim plc's think they can do anything they want to or for ftse/nyse companies to hide behind, but now know it is time to ask the fca to look into this affair.
Fair comment. The depressed oil price makes valuations difficult in the current environment and I do feel for you if you feel it doesn't represent good value. I bought into RKH at 249p so am suffering myself. I guess FOGL's weakness is that it's financial position doesn't provide it with any certainty that reserves will be brought into production, and there aren't too many majors looking to invest at this time
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