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12:41
Company Constitution
https://www.88energy.com/wp-content/uploads/2018/11/88E-Constitution_Amended-88-Energy-Limited.pdf
But hold on. I need to add that before we get take over offers I think we need to think about the "creaming of the curve" so aptly refered to by DW many moons ago. Right now we don't really have more than a hint of a few squirts of milk from the cow. Come on Dave, what do we have? Sorry to be impatient but the SP sat where it is is not great.
When you dont know what you have as documented assets you will get shafted in a sale of assets. Even the Russians got shafted when they sold Alaska to the US. Proove up our leases for what they are worth and get creaming please! That was the only reason we all bought in. Wasnt it? You cant leave without finishing the job. Tsh!
GS
Answer is, yes and, experience tells me to read above, below and inbetween the lines. Ensure that any correspondence actually comes from the board of directors, of 88e.
Remember that as a shareholder you will have the right to vote on the option to accept or reject the offer on the table.
Ford 12:26
Great question, I for one am looking fwd to someone responding to that.
NiceOne.
keefy
Our BOD have to agree with an offer from a potential buyer and then recommend to shareholders in a vote I think. If accepted by holders then you get either shares in the new company or cash or a mixture of both depending on the terms of the deal.
The nice situation would be to get an offer and then another bidder outbids the first. That would be fun but probably a little ambitious.
However, if discoveries (plural, yes) are confirmed, why not.
GS
Iāve read that if itās an all cash sale then your shares get replaced with the cash relating to the value of the purchase. If itās a stock sale then your shares get replaced with shares into the company that has done the purchasing. Just wondered if anyone had an experience with it thatās all.
Without jumping the gun what would happen to the stock if a buyer was announced? Would the stock get frozen then relative shares and shareholders get paid out to the new price that relates to the buyout price?
10:16
Things have changed , investor base is wider and APDC involvement at Peregrine with Erik pressing the palms plus of course Dave Wall's resignation as MD but I am not making assumptions on anything, lots of putting 1+1 together and getting 3 at the moment.
Potentially as planning season approaches we have potential Farm Outs projects on Peregrine / Umiat, Icewine and Yukon Gold so could see some news flow to excite during Ashley Gilbert's early tenure.
Thanks rodrod! Really made a difference to my day. Good luck buddy, I hope weāre right x
Ford 707 - as you asked! This post is not meant to sway anyone in either direction as regards 88e investing. I have a considerable % of my wealth invested and that inevitably taints one's views.
Everything that I have seen since Dave announced his resignation, leads me to the conclusion that a corporate deal has been penned. The final outcome is the price which is dictated by the results. Erik's immense investment was timed to perfection if a deal was in the offing.
We do not know who are partners are at Merlin but we do know that they are oil industry people. The North Slope is massive but the industry is inevitably tight in that everyone knows what each is doing on the ground.
88e lab results are awaited and they will have a significant influence on values.
I do indeed have my rose tinted glasses on which some here criticise. If you do not see the positive future ahead then why waste your life posting here? Go and volunteer at a soup kitchen - amazing insight into real lives
If you assume Pantheons valuation as realistic - what does that vale 88e at ? As a fellow shareholder - genuine question .
It all adds up doesnāt it brom. Big players, big potential, things aligning and very exciting I feel.
May be a silly question rodrod as you have strong buy and I know your thoughts really. Just getting a little anxious and excited thatās all.
09:57 interesting the role that ELKO played in putting together project Merlin, Erik has a lot of contacts . :-)
No mention of ELKO being the "driller" , 88E had previously advised that the contract was with All American drilling and the accounts suggest cash outgoing. Plus of course relevant appendix 2A stated "cash" not "in lieu for services supplied".
Whatās your thinking rodrod? Being bought? Got to be hasnāt it? Just what is your gut saying m8.
the price for the shares being issued to the contractor is already fixed. The actual issue of the shares is a formality as it is not necessary for the shareholders to vote on it etc
Good Morning All,
This latest RNS tells us nothing we donāt already know. So why should we expect any improvement in SP? No sensitive information we didnāt already know about.
ASX was as flat as a witchās teat overnight, as if there was a trading halt. I mean FLAT, at $.022 for the whole session.
Hands up anyone who has ever seen that on 88e.
Back to the Issue of shares to Contractor X.
When do they actually get to OWN the shares? Did someone mention Friday, yesterday.
If, big IF, it is the Analysis Lab who is Contractor X, should the Logging Analysis Update RNS be released before they physically own the shares?
I donāt know the answer but if the SP surges northwards on the RNS release, if it were to made public earlier than Friday, what financial effect would that have on the price of those shares to Contractor X.
Would they actually āLoseā the gain?
If Iām talking bulltish here please say.
Just seems strange that at the last minute, we created more shares for a Contractor & we didnāt get the RNS we were hoping for & this coming Friday, is like a key day.
I for one, still remain really Bullish on this, been in since ā15 & have always looked forward to our annual midwinter event & then waited patiently for the next one, when things just went slightly askew.
If our time is NOW, I can wait another couple of weeks.
Good Luck All, as Usual.
keefy