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Telen will be farmed out soon I believe,
However this RTO makes it very much more compelling. Telen if proven as a discovery is worth about 700 million dollars in the ground.
Timor Leste is over the line.
I would be interested in hearing your reasoning.
The only real issue is that we own a business worth just £2m and in danger of going bust. Thats why the SP was just 0.0012p.
Now with the new ability to progress, as a going concern, and as part orf something very good. The consolidation will probably be 1-1000, which makes no difference on the value of your holdings only the Volume. But the upside will be the value of Sundagas assets, management team and the new bond etc.
We could be looking at × 20+ our current value. It's big guys...
I'm back in.
Nimbidc I thought you sold all your BOIL shares after consistently trying to talk the share price up? Or have you bought back in?
How about 4500 at 10p or somewhat less?0
This is how it looks to me total shares sunda and baron 5,777,000.000
1 in 100 consolidation shares now 57,770,000 at closing price instead of 0.12p now 12p
raising £4.3 m 43 million shares at 10p
so i have 450,000 shares i will end up with 4,500 @ 12p
any advance on my figures.
If anyone has any doubts about my post call MB. I did! What a thoroughly nice bloke! And don't send him hate mail FFS!
Correct. This is effectively a shell RTO. Sundagas is a private entity and wants/needs to gain a listing on a stock market for future fundraising and exposure so this is a great tie in with BOIL. They are funding the RTO as well. You can rest assured that there will be chance to participate in this "Fundraising" via a Broker. Very happy that once this is all completed we will have a much better company with some big Asian assets.
Colter is 8% and needs more drilling, IMF is 15% but is unexplored with no real discovery so the SE Asia assets are actually huge for us. AB has been working on Chudictch since 2012 and they were amazed when they found out in the latest round that they had won the license. Don't foget Shell drilled it in 1998 but there was a war in East Timor which caused some real tensions plus the land/territorial waters dispute with Australia stopped anyone else from really having a go.
nimbidc - thanks for that.
In that case overall it should be value enhancing to existing Baron shareholders.
I guess all the detail will be in the admission document.
Skittish,
All of barons assets do not add up to a third of 126 million barrels of oil and 208 billion cubic feet of gas. Dunrobins 15% only adds up to 28 million barrels.
Telen is going to be drilled in the first nine months of next year. By the time the RTO is completed and the new company (SundaGas Plc) is formed the information of drill dates will either be under way or a near term prospect. Which means the sp will climb as soon as the SundaGas Plc shares are available.
I'm fairly new to this one, but took a small holding a few days ago.
It appears to me that we (Baron) have already got 1/3 of TL-SO-19-16 through the contractual obligation. So that won't change as a result of this deal.
So we will be effectively swapping 2/3 of everything else we have for 1/3 of Telen PSC which is due to drill in 2020.
http://www.sundagas.com/assets.html
Sunda will also get a market listing, and their present two owners will effectively each get 33% of the new company.
Is that a good deal? Possible synergies following the merger?
What are our other assets worth, and are 2/3 of them worth more than 1/3 of Telen?
Gkb47.
You seem to have overlooked the other SundaGas assert. See below from RNS.
2. Telen Block, offshore Indonesia
SundaGas Indonesia Telen B.V. (a wholly-owned subsidiary of Target) operates with a 100% working interest the Telen Production Sharing Contract (the "Telen PSC"), offshore Indonesia, containing the Hiu Marah drill-ready prospect, which has independently audited best estimate prospective resources of 126 million barrels of oil and 208 billion cubic feet of gas. The Telen PSC was acquired from TOTAL in March 2018. SundaGas is currently running a process to farm out the drilling of the proposed Hiu Marah well which is currently required to be drilled by 8 October 2020. The exploration phase of the Telen PSC runs until 8 October 2022.
there may be dilution to buy the asset but its offset due to the value of that asset and the increase income and mcap?
There won’t be dilution as the MCAP will be much higher. It’s a good deal
I was thinking the same but, we will benefit in the long run imo.
but they would then get a bigger slice/all of the profits? plus they have other assets? all good in my book
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)>>>>