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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...
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.
Multi Billion dollar asset 1.2 - 1.3 TCF.
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..
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.
Potential 300 BCF of gas for BOIL is huge like I said below.
I like the sound of ‘transformational for our shareholders’
I dont think you can load up now...that person loading up 5m at a time, did so for a reason.
I dont think you can load up now...that person loading up 5m at a time, did so for a reason.
It looks like good news to me. The directors have skin in the game.
SundaGas already have a PSC that is producing.
Well it looks like good news to me, consolidation is needed. Part of a bigger group...
I would be interested to know if mrs pavasi did sell out, and if she did how many shares have
Been left with mm.
I think consolidation will be at least 1 for 100 and give baron a new price of 12p as it stands
Today.its been on the cards, we will now find out what sunda gas brings to the table.
It should be interesting if Colter news breaks prior to Christmas.
What does this mean?? Good or Bad for us?
Didn't see that one coming
Baron Oil PLC Proposed Reverse Takeover & Suspension of Trading
14/11/2019 7:01am
UK Regulatory (RNS & others)
Baron Oil (LSE:BOIL)
Intraday Stock Chart
Today : Thursday 14 November 2019
Click Here for more Baron Oil Charts.
TIDMBOIL
RNS Number : 3480T
Baron Oil PLC
14 November 2019
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
14 November 2019
Baron Oil Plc
("Baron" or "the Company")
Proposed Reverse Takeover Transaction with SundaGas
&
Suspension of Trading
Baron Oil Plc (AIM:BOIL), the AIM-listed oil and gas exploration and production company focused on opportunities in the UK, Latin America and South East Asia, is pleased to announce that it has entered into a non-binding Heads of Agreement ("HOA") with SundaGas Pte. Ltd. ("SundaGas"), as a result of which, subject to, among other matters, the execution of a Sale and Purchase Agreement (the "SPA"), Baron would acquire the entire issued share capital of SundaGas (Holdings) Pte. Ltd. (the "Target") (the "Proposed Transaction").
SundaGas is a Singapore based private E&P company with a portfolio of operated gas and oil projects in SE Asia, with offices in Singapore and Jakarta and a new office about to open in Dili, Timor-Leste.
The Proposed Transaction will be classified as a reverse takeover pursuant to the AIM Rules and accordingly the Company's shares will be temporarily suspended from trading on AIM as of 07:30 a.m. today. Completion of the Proposed Transaction is therefore subject to certain matters including the completion of an appropriate SPA, approval by Baron's shareholders at a general meeting to be convened in due course ("General Meeting"), the raising of an appropriate level of equity (the "Fundraising"), the grant of a Rule 9 waiver by the UK Takeover Panel ("Rule 9 Waiver") in respect of the proposed issue of new shares to SundaGas and the admission of the enlarged group to trading on AIM. In order to convene the General Meeting, the Company is required to publish an AIM Admission Document which details, inter alia, the terms of the Proposed Transaction. It is currently expected that should the Proposed Transaction proceed, the AIM Admission Document will be published during Q1 2020.