So not posting to much at present, will get back to it when back at work in Jan, as you say with KIBO, the swings and roundabouts of AIM as long as you come out ahead at the end. Kibo will make us all very wealthy.
Don't get me wrong, I think some success will be made of this eventually, however, when this gets trading again it's going to be a hairy experience for a while and it's probably a bottom drawer number until late 2015 and a recovery in the Oil Markets to boot, but if you can wait.........
I am glad to see we could manage to sell heap of scrap for $7.2M. This should have been done 2 years before. This way I think we got relieved from any obligations toward 250 odd workers. If they don't perform we can change our drilling contractor, also also can increase or decrease no. of rigs on short notice as and when required. Things are really moving at fast pace.
It goes without saying mate that I also hope you get your dough back.
As for the deal? I actually view it as weighted towards positive, the big negative of course is what LO decides to invoice every month for the rigs (no one knows if they will act honorably here).
When this gets trading again I have lost count of how many shares will now be in issue. When you look at the likes of Ithaca Energy (as an example) are are pumping out big numbers and have hedged until 2016 at over $100 per barrel and have a MCAP at less than £200m, what are RRL going to be priced at in this Oil Market Bloodbath we are going through?
Lewis don't try to derail cart....the idea of having a representative on board is very badly conceived...I hope no one is paying any heed to your suggestion..it will be impossible to manage the expectations of 800 odd PIs, and also I could see numerous governance issues.
I worked out your current holding and almost cried. 4.5 million shares is a hell of a chunk of cash. I know others have higher averages. But I do hope they have less invested. To see that much cash go I couldn't even imagine.
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