Phew almost tempting to keep some and not trade them after that but have learnt hard lesson on AIM to always take a profit when a share hits the level that you are happy with so will just continue to buy on the dips and sell on the rises
1) Prove we can manage the debt (or simply erase it) - court case ongoing 2) Prove we can increase revenue to above the level of our overheads - Varang / Niko / Dino / MK 7mmcfd / Local Service provider work / 15 existing well stimulation program and 6 new well drilling program etc etc etc so many ways we could achieve this 3) Prove we have political support sufficient to declare commerciality - elections in 6 weeks ...
These 3 would leave us worth over £100mill easily. And could all happen in a matter of months. After that, a big CPR, booked reserves, increased revenue etc could add considerably more value.
These are the reasons why many of us are still here. Fools that we are IG
clns imo are dead and buried. Its all part of the plan that has been played out since june.
There is no chance sn would dismiss them unless he knew for sure they were gone ive said it before but its the reason why they were attributed to the holding company. Does anyone believe that was a complete stroke of luck ?
They arent coming back of which confirmation will arrive shortly
I am fully loaded - to a level that is considerably beyond foolhardy. My breakeven is somewhere over the rainbow just now but it would not take much for things to chance considerably. I've said for years now that my short term target is an Mcap of £100mill. That's given a new meaning to shortterm but it still stands. If FRR can turn this around then the re-rate will be huge... 10 bagger just for starters. Fingers crossed IG
I'm personally not concerned about this scenario you describe. Craft & Unibrow have been paid in shares - they will not be able to make out that they are owed anything else - they have accepted the shares and are clearly now holding them. Shafting local service providers in this way wouldn't help the relationships in Georgia! Not the outcome I expect. IG
If that was the case then surely the CLN holders would individually or collectively have taken FRR to court themselves as they'd be in their right. If SN had set this up to fail it would get very messy if he is also connected to the CLNs through the family trust.
Be interesting to know how the RPNs are set up too, if another subsidiary borrowed the money on an unsecured basis like the CLNs. Also with the partners on board and if everyone but shareholders come out rosey they'll be recourse.
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