Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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'you say there is no doubt BROE has resources ... but Bseye ... if there was no doubt oil players would have farmed in ... there is an issue obviously ...'
The issue appears to be funding, not the existence of the resources.
If there were serious doubts about the existence of the resources, then the consortium could never have been assembled.
There are potential resources there clearly, it comes down to how partners would be monetized /incentivised. The majority of SpotOn equity kicker would/should go to partners. If (and it remains an if) Linn has access to these partners, there is a feasible package on the table. Back ended reward suits them as they have enough kit and expertise under utilised in current market, they have done it in other projects.
If that part of the funding could be secured the Bond should be reasonable to get away. Now, if SpotOn had progressed the first part should not be too difficult and the company would move to the second part quickly.
Time will tell.
you say there is no doubt BROE has resources ... but Bseye ... if there was no doubt oil players would have farmed in ... there is an issue obviously ... you just have not been informed ... resources yes... profitably recoverable resources ... clearly there is an issue .... and clearly it has not been resolved ... as had been implied .....
Obsolutely, how could they come to conclusion by offering stocks and warrents to Pagent before RNS is released that means someone has Insider knowledge. It's not at all fair what has happened even last year when they Issued stocks at 1.5p with warrents general public who are existing stock holders weren't allowed to participate; the warrents are a ploy if they have the farmout then they get the stocks at cheap price in both ways selective Investors are reaping benefits. It sucks, they take general public for a ride.
if what has occurred over the last 15 years ... successive management teams living the life of reilly literally .... on investor money ... with plan after plan clearly successive pie in the sky ..... there is something wrong with stock market rules ....
Again rose tint glasses for people, if it was so good why didn't any major stump up the money. Why the company diluting as if there is NO tomorrow, last 5 to 6 years its been diluted from 60m to about 1.2billion by May 5th if warrents are exercised. i.e. about 95% dilution for cheap money why didn't they able to sell or farmout so far. There is no doubt Barryroe has resource but why Investors are not stumping if it's so lucrative. Well I was one who fell into this trap for last 7 years and burnt out severely from this saga.
This is the best RNS I have seen from this company in a long time. I felt that SpotOn were holding the company back, Linn has finally seen through them. With SpotOn involved the back door was open but the front door was sealed off: now both doors are open and this gives the board new freedom to take Providence to new heights. Providence has now become a more attractive company today and will be able move forward more quickly which will be great news for us shareholders.