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Bridgedogg1 (12:30Hrs), I agree with that, I also think there is some additional element or scope causing the delay. Let's hope we get a pleasant surprise as a consequence.
:)
Quite simply no one knows as no private investor on these boards will have had any experience negotiating contracts in such a situation. Therefore there is nothing to add other than gut feel which doesn't translate to fact. Therefore we see left with those who are either long or short spouting nonsense every ten seconds whether a bit a million share transaction was a buy or sell as if it is a clue as to what decisions are being made. It is interesting to see those who are starting to crack and those who remain calm. Can't be too long now until we know our fate
And for all the intelligent people on here I haven’t seen anyone come up with what a transformational deal will look like! Oh FO Deal.
yep the debate can only be as good as the participants :-)
It just shows you how many deramping idiots there are on this BB mh!
Its amusing how 3x 500k sells = no one believes we have a good deal, and 2x 1M buys = only 2 trades :)
Only 2. Don’t get carried away!!
surprised no one has picked on the 1M buys must be some one in the "know", after all 500K sells spelt oblivion yesterday :-))
'Yes Grandad (Tinlode) - us youngsters are so impatient..lol'
Yes, and don't I know it.
I can't wait for the thunderbolts and lightning when DW releases the deal of the century... as long as it's not a very, very frightening deal... we'll all be pleased! :)
Quoting Queen would suggest you and I are of a similar vintage! It's a quiet day on this board so we are just musing...
Yes Grandad (Tinlode) - us youngsters are so impatient..lol
Can we just let 88E and the negotiators get on with making the deal.
All this badgering ain't going to make one bit of difference.
You are an impatient lot, typical of today's younger generation.
'I want it all, and I want it now.'
Desist.
My only concern would be that since the FO process started we have local competing farm outs commenced and additional lease auctions coming up. So our potential partner could have paid the cash to keep its hand in the game but also assess other options. I don't think this is likely, especially as board sign off has been received BUT I no longer this the delay is due to standard ongoing legal/paperwork. i think something else has come up and in my opinion it is the question over the unconventional asset, with the additional data on the revised fairway and how this ties in with the conventional drilling. We might be in for an almighty surprise.
I wasn't suggesting we would/should walk away, I wouldn't think it a possibility at this stage. If the date comes and goes are we then able to require an extension fee?
The Exclusivity date must have been agreed between the parties, ergo it is probable that the deal will be done by 31st August.
After FIVE months of negotiations and complex legal work, IMHO it is unlikely that either party would want to walk away unless 88 Energy do something to jeopardise the agreement.
GLTA genuine holders.
Don't you think extending the exclusivity agreement would be a more likely option if its not sorted out by the end of the month? Seems an easier route to follow than what you suggest.
Thanks moneyhawk. If we get to 31st and the deal is not completely done do we just pocket 500k and carry on? Or do we go courting other interested parties? Seems somewhat risky to me to walk away from the preferred bidder but the winter schedule won't wait.
Its only the date the exclusivity agreement runs to. Since its a Saturday, we can be pretty sure that there won't be an announcement on 31st August.
DW has given no commitment or indication that news will be before or after that date.
But if we are starting preparations for winter drilling more people will begin to be involved and start to get an idea for what is planned. Possibly rig contract, hiring other equipment, permit applications etc etc. And the more people involved increases the chances of news coming out before an official announcement. I don't mean there will be a deliberate leak, just one person not being aware of confidentiality and talking to others could do it.
No doubt DW and the farmee will be conscious of this, and will want to ensure they control the news flow having kept it all secret for so long already.
Good morning all, (alter to time appropriate greeting!)
The 31st August date was mentioned a few times as some sort of report coming out that would give us a clue who the FO partner was. Is that correct?
This is still my biggest holding and I check at 0700hrs for an RNS each morning only to be mildly disappointed. Still happy to hold!