Firstly I still don't understand why you post here especially after ADVFN style abuse you showed yesterday with Harold. Also you have been supportive of this share (when you bought in and traded) then suddenly it's back on the attack. You are 2 faced and I used to have decent conversations with you about SER but now you have just turned into a man with small assets who decides to try and attack. At least now you have posted something we can actually have a decent debate on. You allowed yourself to get suckered into a joke and have let yourself down. I have been in many multi million pound negotiations. On the face of it this deal looks dead, everyone owing everyone money, christ to anyone this looks the scariest investment ever. I completely understand your opinion, in fact I fully agree. However, it's the background goings on that are more obvious to see. AIM is terrible for these dealings. Especially when the directors in Hawker are involved. It's not where the money will come from, it's when. There will be a third party who have been told to hold off until sefton are in default. Then suddenly swoop in and pick it all up for cheap. Yes the low oil price is rubbish but many oil companies are still being picked up cheap. It's decent business sense. This is not saying I don't see your side.
What a load of absolute drivel - still trying to get people to invest so you can get your £10 investment out!!
So answer me this - Where is the cash going to come from to buy anything?
Why would you buy a steamer when it is admitted by the BOD in there calculations that we lose on every barrel produced until the oil price gets up to around $90USD per barrel including depreciation and other costs? In addition oil per barrel currently at BELOW $ 57 USD
Absolutely no one will buy this pile of poo for 5.5p let alone $5.5m they cannot even find the cash for the forbearance money for the bank?
What you also forget is the company has no cash to maintain the current assets so there will be costs there, the professionals will not have been paid, NOMAD, broker, lawyers, AIM Fees and costs to remain on the market etc.
Honest question what does any buyer funder get for its $5.5m ? A company utilising an expensive process to access oil on an ageing field with oil per barrel at $57, oil not expected to recover above $80 befor the end of 2015 meaning that even at that level it would still be loss making. Assets worth next to nothing and a requirement for more very large investment to raise the levels of oil extraction. So if you say $7m to take out bank and other costs and debt and another $10m on investment to expand the assets then it is laughable that anyone would invest.
The world is littered with oil asset bargains and this company is not one of them.
Show me where or with who cash is going to come from. hawker is out and the default demonstrates that. They have spent years trying to find investors and nothing to date so why would anyone lend or invest $7m here?
Watch the shares get bought while cheap. 7.5 million and 5 million bought recently. Yes still not major amounts but still some confidence. Spread is closing. Worst case scenario is still 5 current share price.
What people did yesterday was focus on one part of the notes and deal which supports their cause so they can trade and scare people. What I have clearly proved is that even the worst case scenario provides us with 5 times our current market cap.
Of those shares, we hold 19,000,000 shares in escrow to be released as follows: (i) 10,000,000 shares upon completion of the acquisition of the assets of TEG Oil & Gas USA, Inc. (located in the Tapia Field, Los Angeles County, California),
If you look into the directors and their way of finding cash, suddenly in default I bet they find the cash! To be honest they need a new steamer in Tapia then it will produce on decent amounts. If they can pick it up for €5.5 million that's honestly cheap. A third party regardless of oil price will want that offer. They may even get it slightly cheaper....hope not.
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