gonna be unusually upbeat about this - I've pretty much given up on it, but I'm also in RPO, who's current market cap is around 60M. Expect it to recover to 50p / share (market cap pushing 200M). It's sitting on 400M of debt and producing less than 4000 bold, so there is a chance that we could get somewhere with the Q8 deal.
The dragons were happy to pay 0.74p, which is a cracking deal by the way Niel negotiated the deal when the company was pretty beat up anyway (0.006-7p/share) and NEW also finding it difficult to raise money in any otherway. The marketcap has also gone to fractions of what it once was.
Huge potential having French and Kuwaiti Dragons as partners.
Also 2.2 billion shares won`t be traded for at least a year, so no great change to shares in circulation.
In affect the free float has stayed the same.
Which means the SP will be heading north again with not much stock around.
Best to follow Niels example: Invest and hold for at least a year.
Follow the money.
This is a wealthy and well connected Dragons Punt.
Proposed issue of 2,184,897,959 Subscription Shares to Niel Petroleum...... add that to the current total of 702,723,713 and that's about 2.9 Billion reasons why there won't be any substantial increase in the SP until we strike the black stuff. If you've bought in at 0.4p though, it won't need much to multi-bag but for those at 10p it'll need a MCap of £290m to break even.
I wonder if Mr Foucher knows more about the kuwaiti licence, at the end of the day he gave 20% of Niel away for $20m ;)
"It is impossible to accurately calculate the return on our investment, but drilling in Kuwait is without risks and there is little failure. The question is whether it is positive or very positive, "summarises Laurent Foucher, CEO of Neil Petroleum.
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