The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes I’ve been in this since then...and before.
These are different drills, in a different spot with better data .
IMO
But yes cash raise is a pain at this point, I agree.
"The last placing was obvious after the details of the farm out emerged, this one is a strange one, it’s an absolute momentum stopper for such a small amount of money."
Is it? who would sell at ths point? 10 o 20% dip could be back in a day on positive news.
Can't see past the end of the week. It might clear the run through the drill.
Investors might have more confidence.
Look well ifthe SP climbs on this move!
Opus
SP was over 4p whilst I was at the Cheltenham Festival a few years ago and now only 25% of such and Im very disappointed at todays placing announcement. Only two days ago they announced how much cash they had in the coffers
Tony.. I agree.Personally I'd rather get this out the way than have one when the drilling had started.What better way to clear an overhang.The sharks are circling for cheap shares
ASX rules different to AIM... Hence no halt in the UK, so we can now lead the dip that will ensue.
Hopefully short lived, its only a very small placing, dilution is negligible to the 6Bn shares in circulation.
Fingers crossed a storm in a teacup, and we will be past this by the end of the week, with FOMO and momentum continuing next week. NOTHING HAS CHANGED. STILL DRILLING 7 prospects with HRZ data gathering at the end.
One can only hope that LeMajor's point carries some truth. There may be a good reason they want a bit fo spare cash for short term opportunities.
Either that, or the office has just run out of Custard Creams...
Dave loves to strangle the golden goose
The last placing was obvious after the details of the farm out emerged, this one is a strange one, it’s an absolute momentum stopper for such a small amount of money.
Yes. AIM won't stop.
YOU DON'T EXPET THE TREE SHAKE FROM YOUR OWN RNS!!!
For all we know, the weather forecast may be condusive for us to flowtest a third target. Perhaps we have a few more weeks on the NS than originally expected and for a few dollars more we get it done this year rather than next.
YGIAGAM.
I`m also very unhapy with a placing at this point in time , and why can`t DW write a CEAR RNS ?
We don`t know why he wants a `Little` top up at this crucial /pivotal point in time .
Do PMO want some more cash for the HRZ element etc . BUT ~
It is for a small amount .
Little dilution .
Charlie on track .
Any dip should (I think ) be short and swift .
I’m surprised with placing. And according to hot copper, they are raising $3m at 2.1c (£1.5m at 1.1p). Though, amount is not large but timing is wrong. Cap raise just prior to spud is not ideal. There will be overhang for sometime. Since, shallow zones (secondary zones) are high risk and potentially be non-commercial; many will derisk today after today rns. But, main prize is Torok; which is primary target and comparatively low risk with valuation of over GBP 500m net to 88E.
Personally, I’m not happy with placing
RNS states trading halt due to Capital Raise... Sadly I don't think this one indicates PMO buyout. Maybe next time :P
Would have been nice if Dave had waited another few weeks, he could have raised at 2p (one would hope)
If there is a dip it should be brief, as our share price has doubled over last few months and we are going into a seriously exciting phase...the more cash in the bank the more attractive to new investors!
Opus
might be take over by pmo
Once the funds are confirmed, then 88e can provide guidance and maybe an operational update. As soon as tonight maybe.
This could be good news let’s not get wound up until we no al the facts. Like Ous says we could have bought more assets at a good price.
Urgh another ****ty AIM raise... 1.1p for 1-2m is pretty rubbish. Instantly knock 20% of the shares for the addition of such a small amount of cash.
Still it's AIM, what else do we expect.
Asx release says "capital raising"
AIM release says "potential capital raising"
I'm confident that 88e was given the green light by bigger investors in Aus, that a fund raise would be supported. It was apparent that cash was restricted when studying the last announcement. Had the govt rebate been paid then this raise would have been avoided probably.
From Hot Copper
from todays AFR Street Talk
Jan 22, 2020 — 10.54am
ASX-listed oil and gas explorer 88 Energy has gone cap in hand in front of investors on Wednesday morning as it hunts for fresh equity to strengthen its balance sheet.
The $179 million company was seeking $3 million via a placement priced at 2.1¢ a share, a 16.1 per cent discount to its 10-day VWAP, according to terms sent to funds.
Hartley's is sole lead manager and bookrunner on the offer and bids were being called for by 4pm on Wednesday.
The company retained the right to accept over subscriptions in the offer to the tune of $1 million.
Funds were told the equity would be used to fund the ongoing evaluation of the prospectivity of the company's existing assets, which are mainly located in Alaska, and strengthen its balance sheet.
The equity would also be used to cover any potential costs for its Charlie-1 well in Alaska, which is due to spud - the process of beginning to drill a well - in February.
Purchasing more assets perhaps?
Same as last nights info - one thing, WHY NO DETAILS?
Could be ‘surprise’ pherhaps?