I could buy you five pints man! Tidy little trade with XEL ...sold @ 32.5p. Trading has been tough so I will take profit when I see some blue! Bradford are easy to beat ..... unless you are Chelsea ! Pahahaha !
Not sure about illegal as things are fluid in negotiations and deals are never set in stone until inked but just look at the timelines - Larry stated he hoped to have been able release news prior to Xmas we are now in Feb ?
Nothing criminal - I have no doubt they have been involved in new venture talks. If they had ended then it's material information and the NOMAD would require disclosure via an RNS. 6 weeks ago they were still in negotiations and looking at a new license. It's in the recording that they had taken down and rehired HC to take down. Still no sign of the fact sheet .. Meanwhile rich guys accumulate ..
Think it's now time for Larry et al to come clean - there is no way on earth the new venture should take this long - are we being had for fools ?
My opinion is the cash is now being held by the company as contingency funds or survival money to weather the storm of low oil prices !
From the placing RNS
"Whilst our cash balance remains strong, the proposed fundraising will improve our liquidity, allowing us to continue to accelerate our planned work programmes, pursue a new venture opportunity and create value over the longer term. As a result of our work to date, the Company has built up a large scale, high impact portfolio with a solid platform for growth and exposure to a pipeline of drilling activity over the coming years."
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