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fair enough Bear.
It all depends on
whether or not we
have our begging bowl
out or not I suppose.
I am not trying to do anything...
All I am saying is to rule out some more equity is foolish.
Yes he would like no more but beggars can’t be choosers..
No that is incorrect Bear.
He clearly states that with
such a low valuation that
farm out is his preferred
route.
I see what you are trying to do
here but IMO this is as low as it`s
going to go. Even then it is due to
poor market conditions as evidenced
across AIM this week. Lets agree to disagree
on this one as time will tell sure enough!!
To be clear....
Asher is trying to fund the well via ideally a farm out and/or some sort of finance. He has gone on record as saying as they have not done the drill bank finance will be tough to get. So most likely route is farm out.
Check the YouTube vids on this he clearly says he is trying to MINIMISE any equity component.
"Nope he hs ruled out equity to fund the well. He has not ruled out a small equity component..."
Well which is it. The two above sentenced are contradictory.
He has ruled out equity to fund the well in several interviews. I am not aware of him having said
a small equity element to the well funding is an option. Perhaps I have missed that interview.
Got a link?
Nope he hs ruled out equity to fund the well. He has not ruled out a small equity component...
Asher has already ruled this out as it would lead to dilution for shareholders.
He obviously does not want his 27% diluted. At 1p the extra retention in Cameroon
to make up the £12m would offset the increase in shares but this ignores SA and Namibia
Basically he said that the disconnect between sp and value is so large that he prefers to
farm out 49% to fund the well. The project economics are very compelling and rubust to
around $35 POI. Have a look at the Envoi flyer sheet for the Cameroon it is most informative
as to where JA thinks this is going. Regards.
Mike
I agree if TRP get a farm out FIRST they may get a equity raise around 1p.
But if they need some cash(skin in the game) they will need a raise before the drill starts(and maybe as a condition of farm in)
As I said I will wait and see, but my gut says another raise around same level as before...
I am confident that with a 27% stake JA is on the case and we will
hear soon enough. When we do you will not see this for dust, of that
all are agreed. Until then we wait. When Investigator finally leaved
the action will start IMO.
My reasoning is that the farm in partners will need to know that the
survey has confirmed the drill costs are as assumed and that there
is no need for additional work before the rig can be positioned.
That IMO is what the farm out deal is currently hung up on.
In these situations it is normally best to hold and if you can buy the dips.
Dont forget it is a very poor market environment currently an profits
are profits and if you need the money. Well .......
Beggars can't be choosers there only going to be so many offers they have to take the best that's on the table or remain stalled and stagnate
won't work here bear.
best start accumulating
carefully at current levels
imo. Tower will retain 51%
of Thali. No equity below 1p
The equity raise only covers the site survey. Tower have zero to contribute to the drill. If they want a full carry I cannot see them having more than 25 percent and even then as per 88e recent raise even though they are carried by prem they need cash for any over runs.
Good thinking bb2 it's got to come from some where unless the Chinese take a big stake in it
I want to see if there is more equity required first to fund this well I am expecting some sort of equity either to complement farm in and/or some sort of deal with a bank
Progress has been stalled there could be a buying opportunity coming up next week if it stays grounded
Hi oilmanmike, could be so many reasons, but the big delays we always encountered were usually custom related, the expensive positioning equipment is usually hired from seatronics, (some of it is mega bucks) anyway as such it has to fly in through customs, now it’s difficult to understand being here in the UK, but usually in Africa if you want equipment out in a hurry it costs (brown envelopes) fortunately the company pays hire charges after it clears, (usually) once sat around a pool in Mombasa got 6 weeks for this reason, that’d be my best guess anyway.
Suppose if something broke it might take a while to get spares.
Agree the fact the boat is just waiting implies something has to
happen before it can complete the Full survey.
The thing I keep thinking about is Cameroon Farm Out deal.
Rocket13. Why does my post make me look silly? This morning I bought into TRP for the first time and my buy showed up as a sell. I’m just mentioning it as a fact. And no, you haven’t seen me here before, but I’ve seen you on GCM board and it was you who brought my attention to this share. So silly or not, I accept your wish of good luck. I hope that’s something you can get right!
Willowman I feel your pain ,I'm on the same journey with this one thought the light had gone out and the door had been closed but with the resilience of Mr Asher I've seen that glimmer of light appear and getting brighter along the way I bet there be a big party at the end of this road good luck to U
I thought the rabbit would bring a response yes it did I'm hoping it will work a little magic for our share price I suppose a lucky cat would of done just as good excited to say the least as you I'm deep under through I believe the fault of repsol incompetence but that has to water under the bridge now just dont let them anywhere near this well
Hollybean, rabbits come out of hats, cats come out of bags. Clearly you are very excited to be mixing your metaphors in such an egregious manner!
I too am way underwater with this from years ago, have averaged down massively so am very optimistic that I will recoup my losses and a great deal more. It has been a very long journey but I think that our time is close
It's pay day end of this week should see some money pouring in on here now the rabbit is out of the bag ho ho ho
For more clarity about my previous post when I mentioned the train leaving and getting up steam I am believing there an imminent and sharp rise coming in the share price is a spike but overall I think patience is needed due to the time it will take to get to see the oil but it is there and under pressure just waiting to be released good luck and good timing with your punts
It looks positive for monday omwards bring it on 1p plus
Yes rocket I agree 1p soon there a good team on this bb making great jobs on the ship's and other targets this alone is a great driving force I took a big hit on welwitcha but this could bring it all back home bol to all on board