The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
SimonT, you just need 3.57 and then ride off into the sunset!
Hi coco’ I agree it feels like sht but this is far from a lights on placing. No lipstick on a pig here mate! We’ll get the accelerated book build completed RNS tomorrow, betcha! such is the demand. Highly likely we will also have cascadura test results part 2 with a little what’s next ops update to sweeten us.
I also expect PB to do another proactive and tell us why. This is not time to shy away and I think he’ll lead from the front.
I do think we’ll be lucky to get over 40p or even 39p though for the placing. There’s always a sting to these things, there all in collusion scratching each other’s backs but hey I’ve been surprised before. DCTA (who I tipped here a while back) raised above the sp and were oversubscribed because institutional investors could not buy stock on the open market due to liquidity and of course the company prospects. Txp are in similar position, not as tight but you’d struggle to buy a million quids worth unless you offer Simon 3.57! Lol. And 3.57 is where I really think we’re heading if Chinook and Royston come in. And remember Royston has already tested for gas in 1965 by Shell and it dwarfs even Cascadura.
On reflection I think there is more positivity here longer term than negatives and holders can chill now not worrying that a placing may just come in like a hand grenade. It’s out there and if you are able I’d be more inclined to average down on any dip rather than exit.dyor.
Trek
Trek, I have 280,000 and was just looking at how much I had made today and then it got wiped out! It will come back!
I cant see PB diluting himself 13%, he must think this will be beneficial to the company and himself in the long term! Or even the quite short term!
This imo is still plan A, prove up and sell up.
We may get Cascadura results part 2 tomorrow. The other Cascada drill should follow in quick order, and simultaneous drilling of Chinook.
PB got over 1.4m shares so a lot of skin and I think North sold in case they had to finance a placing so from profits.
Good news is no complex financial instruments so you don’t get the fkrs taking up warrants shorting it and selling to cover. It’s pure equity and for a rapid drilling program + working capital.
It’ll be oversubscribed, wish we 60% PI’s could buy but they want quick cash. I expect the book building to be completed tomorrow and the a price to follow pretty quickly. Remember 38p is the minimum. We should get more, I’m hoping for over 40p coz there is nothing worse than the placing was oversubscribed RNS and they only raised at the min sp. Shore gotta raise their game!
The pf is gonna look pretty grim tomorrow esp now I have over 230k shares but I guess it’s no pain no gain and by July we could be well over £2 and with so many drills there should be plenty of opportunities to derisk.
I do feel a bit let down, a bit naive believing the rhetoric but I trust that PB knows as best as possible what lays ahead and we should now at least ascertain full value for the block for plan a and if not and we produce then plan b will have some massive dividends from this sp level.
Trek
Canada 96 and had time to digest ?? May be a very temp blip lol but shhhh lets not startle the moose ! :)
Canada is still suspended no? Those buying at 50+ yesterday and today are entitled to be pretty hacked off, particularly if they are on t10's etc. I can't see the price staying in low 40's for long but there will be some serious churn tomorrow. Maybe Paul's comment about drilling on borrowed money turning out to be dusters was a hint at the placing - meaning that he was not going to increase the debt by extending the facility. He did hint at having to rethink whole strategy because Casca is just far bigger than they thought. Short term unpleasant but I can see it back up to 50 very quickly. Long term holders who could have got 55p today are simply not going to be selling at mid 40's tomorrow imo.
Hey Judge, you may have seen 54p coming but you didn't see that! Hahaha :-)
I am sure it will only be a temporary blip!!
Canada doesn’t seem overly concerned so far !! Maybe power right through ?? One things for sure the MMs knew this morning an rns was coming just didn’t know what :) that’s what all the nt only nonsense was this am :) I tried to get 29 k @ 49 earlier I’ll be ready again tomorrow but personally I can’t see it @ 45 as always wtfdik gla
Any short term weakness in the price tomorrow morning will soon disappear under a wave of buying. I will buy more if they are under 45p
Highland matt my thoughts exactly
I'm thinking PB wants that new CPR for all of Ortoire ASAP.
Then the infrastructure can be planned, and a new NAV published.
Will we see a 'for sale' sign by the end of 2020? With all the particulars laid out for a turnkey large scale O&G resource?
Won't be down for long as the share is an even better bargain now. More backing..... getting stronger. Reckon the share price will be down for a very brief period....hrs not days
“ wouldn’t borrow money to drill wells they always end up a dry hole” a little cryptic.
Actually, i got the sum slightly wrong, as my calculator that i had to hand didn't have enough digits for 161m!
It's 11.3% dilution, so 48.7p.
Sorry.
I have even seen placings create rises when it paves a path to monetisation!
Unusual timing though, there is never a good time for a placing RNS but why now? Maybe they are going to issue a good news RNS tomorrow morning?
13%, we made that today! There is nothing you can do except laugh! Onwards and upwards!
welcome to AIM
Paul said that they did not need to raise money. Should have been up front with the investors. I for one am ****ed off.
Emphasis on "minimum"?
Also, $9m @1.3 = £6.9m
@38p = 18.2m shares.
161m shares, so this is 13% dilution.
13% drop from 55p = 48p.
Sooo. not disastrous, just annoying. Should be a good investment if it accelerates Chinook and Royston (cash had to come from somewhere). Do we assume events are moving faster than Heritage (or anyone else) were prepared to move to pre-buy the Coho gas?
with institutional investors in the United Kingdom at a minimum price of 38 pence per Placing Share (approximately C$0.66) (the "Placing Price").