yep caught me completely on the back foot this one, I also bought some. I thought there was a few quid to be made, there still maybe but they need to sell this deal big time because sentiment is shot at the moment. I knew something was coming after they approved the CLN but I didn't for one minute expect this.
Sibo an Abrahams control 42% of the company, whatever they say goes.
Bobo, I am inclined to agree with you. There is huge potential for this to be a positive acquisition going forwards. If we had been told that we would effectively get brand new drills on an appropriate line of credit then I think you would have said that is a good deal. The bit that stinks is the “it’s a good deal to sell” and then “it’s a good deal to buy”, it could well be but it does smell of saying what people want to hear over the actual rationale.
Landauslide (I couldn’t shorten it for fear of vomiting!!), I did virtually the same about a week or so before we went into suspension. It felt like a kick in the nuts as was hopeful of a positive waterflood update on the back of the announced 800BOPD exit figure. I genuinely get the impression a game is being played, I am concerned that we are simply not being told enough information to make informed investment decisions.
I have raised a number of questions for the Q&A, I hope that they are actually answered and not skirted around. They need to be frank with us now. We are not able to run as we are locked in by the suspension so I would prefer to know whether this is indeed a speedbump or whether we are going down the pan.
I have made my feelings clear immediately following suspension and nothing has changed. As it stands if we came out of suspension today I would likely sell up most, if not all of my holding.
I do not expect to have this chance in the short-term, I am expecting the suspension to run right up until the 6 month delist deadline. I just hope we come out of suspension so we have a chance to easily crystalise losses if that is our choice.
Can't believe I got suckered in to buying some more shares , expecting news on water flood progress.. hopefully good. I guess there is no surprise with Range, just thought these deals were left behind in Pete Landau era. Now have extra 3k holed up in this on top of my original investment. Hope you're right about this being a not necessarily bad deal. Good to listen to posters with balanced reasoning instead of a one way ramp fest of wishful thinking. Good luck, we will all needed from here.
I very much doubt it, I think RIG mustered just over 20% last time.
It's not necessarily a bad deal, but I must admit it doesn't sit comfortably with me. There's too many opaque relationships between the Chinese entities involved for us to work out if shareholders best interests are being served.
words fail me! All I was expecting was a simple 'thanks for pointing that out' and I get a demand for an apology for being right!
Anyway moving on.......
I have asked a question for the Q&A about how much of RRDSL revenue is generated from RRL. To be honest im not expecting an answer but if it turns out most of the revenue comes form RRL it cast somewhat of a different light on the deal and the claimed profits.
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