'The majority of the shares and options being issued relate to the previously announced loan facility arrangement with YA Global Master SPV Ltd, Hudson Bay Ltd, Empery Asset Master Limited, Hartz Capital Investments LLC and the Cranshire Capital Master Fund.'
Giving these guys approx. 100million shares just from this new deal... RRL needs to hit T&T hard for production to keep the shorters away...
Looks like this dilution was factored in yesterday. Like many, I am not happy with the current situation but just extract one positive from the RNS, the waterflood programs alone will generate around 4,000 bopd alone for a minimum period of 8 years. Conservatively that alone is worth around £93 billion a year by my estimation. That does not even consider our deeper drills such as MD248 and Herrera, and that is just Trinidad. Factor in Guatamala, Colombia, Georgia and the still live prospect of Puntland and tell me we are not seriously undervalued.
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