Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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Mirasol, I was referring to shares that they already have.
"They have had a steady source of income since ewt lol. I think they could raise a bank loan right now on 300 ish proven bopd over at least a year imo."
Unfortunately no bank will touch an O&G stock without both a CPR AND their own due diligence. Many have strict rules about this......... they've been burnt before.............
Just wish we minnows were offered shares at same discount as the big guys
Steptoe, this is down 20% since you started ramping the bejesus out of it in December. Pack it in, your a jinx!
We are months off debt-based funding imo.
1) Updated CPR required. Kimmeridge? Portland?
2) steady source of income required. How many months income do they need to satisfy the criteria?
All seems to be moving along nicely, glad to see action on site and production moving forward. Only concern at the moment is the share overhand and the number of Tellurian shares that could be dropped on us. Im not sure what the terms/restrictions where placed on the selling of shares up to the end of the 6-month orderly market provision, but that ceases on 7th February.
1,000,000 shares is only around £7,000.00 at the moment.
Not very much of a transaction for any business.
I'm not trading at the moment (in UKOG anyway), but when I do it's in £10k chunks.
More than some, less than others, but I'm not a big trader.
:)
So another admission that it just a assumption, or wild guess, that Tellurian is selling shares. Followed by another wild guess that it could be Steptoes. No facts.
"So admission of no facts at the moment to support any claim Tellurian has sold any shares. Just more assumptions and wild guesses."
Well someone is selling - and in 1 mm share chunks as well - otherwise the price would go up - no? So who is it?? I suspect it's Steptoes TBH
Steptoes - you lambast me for "misleading" about a further dilution and then spend a page telling people exactly how the board will issue new shares "at least once" before we see the sun.............
Thank you you young shaver you!!
So admission of no facts at the moment to support any claim Tellurian has sold any shares. Just more assumptions and wild guesses.
"I don't think Tellurian will be keen to sell shares for less than they paid."
You don't understand - UKOG have to pay them £ 1mm by the end of March in addition to previous payments in cash and shares. Those shares will cost UKOG £ 1mm whatever the share price - Tellurian can then hold or sell - at that point they are exposed to the share price. They want out - they've liquidated all their UK onshore assets. If they hold they MAY do better - but they can sell and lock in their £ 1mm (or a large part of it) immediately subject to unknown "orderly market " provisions.
Do the math. 331,125,828 shares over 6 months is about 129 trading days or 2.56m shares a trading day, 13m a trading week or 52m a trading month depending on what they class as "orderly".
I don't think Tellurian will be keen to sell shares for less than they paid.
"Tellurian have not issued a TR1 since the last one to say they have sold any shares"
If you'd been an here for a bit longer than a few days you'd know Tellurian haven't been exactly in conformance with issuing TR1's..........................
Taking everything into consideration, yesterday's RNS was pretty positive. I suspect if it were any other share with a similar RNS, the share price would be taking off big time. Maybe SS is putting the "goats mouth" on the price by not buying in.
The big problem with yesterdays RNS is undoubtedly the Board Resolution about further share issues.
If you hold a lot of shares (YA, Tellurian,etc) what is the incentive to hold on knowing another dilution is certainly coming down the tracks? Might as well get out as soon as possible ...
You can wait for the upside but although that looks likely it is not certain and the timings always seem to move to the right onshore UK.
That's why this share will go nowhere until they establish regular production to at least cover their costs - which looks like 400-500 bopd averaged over 6+ months