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For once the wording "Transformational for Shareholders" would appear to be spot on....
The key will be the MCAP re-evaluation of the new company and bearing in mind the
combined asset values of both entities this is likely to be many multiples of Barons suspension MCAP.
Any views on what this is likely to be ===bearing in mind our shareholding should be 33% of the
new valuation (believe I am correct in assuming this)>>>>
IMO folk do not understand RTO stuff - you have to issue shares to pay for the acquisition.
Look at how ZOL became and I think it went from around 10p - 20p levels straight to around £1.50......we could experience something similar and the ZOL massive rises was due to the kind of acquisition completed.
In the meantime, there is still IMF, Peru, and Colter stuff knocking around - so if we positive news on all that too before suspension is lifted we imo should have some monster opening.
When will the EGM be?
I'm guessing it will be this year. They need to give a minimum of 3 weeks notice. I assume the shape of the SPA will need to be completed first.
No idea if honest, I'm just hoping we all do well out of it. About time I had some luck.
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BOIL Professional News
Baron Oil Agrees "Transformational" Merger With Partner SundaGas
Thu, 14th Nov 2019 11:28
(Alliance News) - Baron Oil PLC has agreed a merger with Singapore exploration & production firm SundaGas Pte Ltd, it said on Thursday.
The transaction is considered a reverse takeover under AIM rules, so shares in Baron Oil have been suspended from trading in London.
Baron is to issue two of its own shares for every one SundaGas share held by SundaGas's shareholders, creating a new company in which Baron shareholders will own 33% and SundaGas's the rest. The combined company will be called SundaGas PLC.
Baron Executive Chair Malcolm Butler said: "The SundaGas team brings impressive management and technical expertise in south-east Asia and it makes sense for us to combine forces with them. The Chuditch production sharing contract has the potential to contain a substantial gas accumulation and is an asset of significant value.
"This proposed transaction will be transformational for our shareholders and we look forward to reporting back on progress in due course."
SundaGas has two main assets: the Chuditch production sharing contract off the coast of Timor-Leste, and the Telen block of the coast of Indonesia.
Baron has interests in two UK North Sea blocks, Wick and Colter, as well as an exploration asset in Peru and an existing partnership with SundaGas in which the two have been looking at new licences.
By George Collard; firstname.lastname@example.org
Copyright 2019 Alliance News Limited. All Rights Reserved.
This has been in the mind of both companies for over 3 years IMHO.
SundaGas Plc could have been setup without Baron doing the RTO.
i can wait
This time next year Rodders......
At least they didn't say "game-changing" ... that's usually the kiss of death.
What we know is the new combined company will have 75% of 1.2 - 1.3 TCF so 900 BCF give or take, 1 TCF worth $3 Billion dollars??? I think we're sitting pretty but who knows, one thing we do know we can't sell and no one can buy. I'm confident the shares I have will be worth more in 2020 than today a lot more.
Hold and hope for the best...
Yes it's transrformational all right, 1/3 transformational at least. TBH I was positive about the news at first as it seemed that we had acquired a signigficant extra interest in a prospect (the PSC) for minimal cost. Now I'm not as with the RTO and the inivitable subsequent raise the existing shareholders will get diluted to hell.
At the end of the day I invested mainly due to Wick (yes I know) and the Colter etc. prospects on and offshore UK. I didn't invest in a Singapore based Oil and Gas exploration company. It's 11 months now since Colter was spudded and we still don't have a clue what they are going to do with it. No choice now though but to hold and hope.
Wonder what the sp would be doing now if we wern't under suspension?
Seen too many "transformational for shareholders" statements elswhere that didn't materialise, hope this one works out. Happy with the situation so far though, roll-on 2020.
Just Re-read the RNS. This bit stands out:
This Proposed Transaction will be transformational for our shareholders and we look forward to reporting back on progress in due course.
Note: will be transformational for shareholders, not could be!!
I think MB wants to retire......
I think this merger has been on the cards since 2016 when the first tie-up with SundaGas was mooted in 2016.
As others have said it will be easy to raise funds on the London market if there are any juicy prospects that are unearthed in SE Asia.
Don't forget that the SundaGas guys built up a huge business (mostly for other beneficiaries) before setting up SundaGas.
The guys have got previous.
Can only be very good news indeed.
I think they will move fast on this one......Q1 could even be January 2020. It doesn't take long to put together an Admission Document.
I’ve got 5m running for free, anything is possible, the clock is ticking.
Multi Billion dollar asset 1.2 - 1.3 TCF.
You may have hit the nail on the head "bigger than expected".
Maybe hence going down the route of RTO and the listing into us so that further down further equity can be raised for developments etc.
Well clearly the stake building was done with prior knowledge, so that in itself instils confidence. Beginning to think the Sundagas proposal will be bigger than we expected now for all this to come about..
The share price can soar further when resumed if good news flow comes through on IMF, Peru, and Colter.
It imo would all have to be factored into the share price.
great for baron holders
the share price will boil so much in the new year, it will be a great present for you all
Back in Q1 2020, have a great Xmas all.