I was thinking it might be more interesting if it wasn't paid? What if the regulatory landmark was not the Bressay licence extension. What else could it be? Bressay extension is clearly sorted and informed to the market so.......
and get a move on . You have had more than enough time . The paint has dried and had a further 5 coats that have dried over that . People are beginning to get really annoyed now , even some of the patient pi's . We are not all saints
will finally signify funding is in place and XEL will be capable of developing Bentley - should they choose to do so. It could also lead to institutional investor's piling in as the path to production will be clearly marked.
It may also prompt a T/O bid, as any potential buyers could see the field 'slipping through their fingers' at that point, or it will cost substantially more further down the line.
Whatever happens it will likely provide some stability to the sp.
Therefore FDP submission is the key to unlocking the next stage.
Sorry for my ignorance,but what degree does dilution have on the overall future relevance of the share price,and the final T/O F/O value. Asking this question as many here have a much higher share price, and some just do not have the funds to average down, and make a dent in their averages. We know this is a valuable field, but realization of profit will be when? Are we to believe RC that it will be at FDP?
Thanks for your comments, as I said, IMO, and here's how I got there: stoddman: I based my timings on the 36months, not the 24months on the basis that all 3 bits of kit are needed at the same time as in the 'video' and to my knowledge there is neither an ACE nor SEVAN1000 available to convert, but they may change the spec before FDP so I agree it could be 24months. I think that 2016 would be extremely optimistic [FDP + 24 = 2017] and XEL PIs have become very aware of the BOD's shortest times to oil.......
Yanchep: I agree it was a daft question, RC would have had to put his hand in his pocket! They need the Esousa EFT to demonstrate 'going concern' status, so asking if there was to be further dilution would equally have served little purpose. I won't mention 'potential' further options for the boys. It is the sprinkling of shares and warrants with each funding package that makes it less transparent, they have issued 15.9M this time, I think you will find, 5.4% dilution. The shares were 'free' in the Bond deal as it was at a discount, 10% this time, it was only 2% at the time of the Westface plus a 98p warrant. So all the SP valuations on here are now down by 5.4%, even though they are all still way north of where we stand today. That is until the next deal of course......
Westface: "refinance the US$ 80 million" has only one interpretation.
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