Market sensitive or not, Clem will make an announcement with ALL the facts, all the conclusions from the investigation and set out the plan for the future. I base my opinions on knowing the people involved and their commitment to saving this company. They are not keeping me or anyone else primed over and above any other shareholder, but when you know people, you do tend to get a better idea of what they want to achieve! I think your percentages are in reverse lol
The Kansas assets were going to cost 500k in dollars to shut in the wells etc, they are presently on a maintenance contract in order to avoid that! They can be then sold and whoever takes them on will likely continue with the ioperations there. Oil was being produced.
ST - If what you know is no longer market sensitive then really Clem et al should be communicating this to those still locked in. Otherwise rumour and speculation take over and the longer it goes on without anyone saying anything the worse the situation appears.
What specifically allows the new team to pick up assets for peanuts? Anyone selling will want to get the best price for them, unless they're desperate, in which case you can be fairly sure that other companies will also be aware of them.
I'm currently thinking:
70% chance of wind up at the AGM 29% chance of a protracted attempt to get assets on board, eventually leading to administration 1% chance of some form of comeback with assets and a listing
JAS, the people trying to save the company are the same people that saved it when they were 48 hours from bankruptcy, Dan loaned them 50k to stay solvent. Now we have somewhat more cash, virtually no overheads. We can take all the time we need to bring assets in, run the company on the breadline and relist when the market will value an asset rich, revenue bearing company better than it ever could be now. All in my own opinion of course ;)
Wassat, what the market know is no longer of any importance, the company is no longer regulated by the AIM authorities. I know the people involved, I know their intentions and I know that they have no interest in winding the company up! I and many other large shareholders who were supporting the requisition did so to SAVE the company, not to get a couple of hundred quid back!
I can assure you that the last thing on Clems mind is to sell Kansas and wind the company up. Sell Kansas, yes. The fact the company is private, the fact the opportunities in this market are increasing, the fact they can access these opportunities for peanuts, whilst not having the massive overheads of being a listed company actually make the whole prospect stronger.
The game plan here imo (for the benefit of Wassat) is to resolve the financial position, acquire revenue bearing assets for peanuts and relaunch when the POO is at a level whereby the company can immediately show they have the assets, the income, the management and the credibility to rejoin the market!
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