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Haven't seen you on the Sound board for a while. Doing very nicely ATM.
Yes it should... What is the cash burn.. 0,1p/share each month was it?
Should have gone to Sound Oil.
I'm invested here but at current oil prices Fyne is a no go most people think. The Irish license will be difficult to farm out on anywhere near decent terms. News on jurrasic targets soon?
Yes with an illiquid share you will get punished if you try and sell a large block. Someone must have been very desperate to sell at a level half what is was little over a month ago and well below bid - for it not to have crashed the price is also unusual. Maybe there is someone hoovering up shares. Tiptop whilst you are confident of the money in the bank I would caution - have they resolved the legal dispute with the driller yet? They had chosen not to provision for that in the accounts last time I looked. The reason I am suspicious is that on the way down just before bad news "insiders" were clearly able to exit before it was known to the wider market as the price moved sharply in advance of news. That is a big sell and volume on Toronto was up as well. Be very careful with Antrim.
We have a current MC of £3.5m and £10m in the bank. Any bad news should not have any effect on the SP, or very little. This could of been a desperate seller as that was a big trade to move on a company with very few shares in issue. The small number of shares works for us when the SP is moving upwards as it creates a supply/demand bottleneck, however it makes it difficult to sell any quantity in a bear market.
Tiptop or anyone like to comment on that very large late reported trade on LSE? 1.30 lowest I have ever seen (but no move in bid/offer to match?). Tends to point to a sell - maybe worked over a few days/weeks given volume. Volume on Toronto also high today with Dundee security selling - but buyers must be picking up stock overall down 12% which is not unusual these days. Strange as ENEG up 10% on lowish volume which would not point to Fyne news. TipTOP you are posting on Europa board today where they have had news - but not that I can see on Ireland assests.
will see gains next week here
Price anyone.?
I could see this boom to 3p quite quickly. Recovery play here !!!
From the Presentation " Transformative (strong portfolio, near term activity, robust balance sheet)" Near term activity......I wonder what they mean !!
I quite agree. I topped up this morning with 3k and will be topping up with more soon. With all this cash the BOD could easily pick up a struggling producing asset that needs some capital injection. It's a real buyers market with very low oil prices but oil will recover soon so now is the time to capitalise.
Can't believe people aren't buying at this daft price.
Tiptop -bitter experience! There is value but the board have to show they have a credible plan to get at the value. The heavey discount to value reflects a scepticism that they have a plan to get it out. The remaining value in cash and undeveloped assets is the remants of past value. On AIM management credibility is vital. the current board for me have a massive credibility problem and to make matters worse they have a knack of being unlucky. The last AGM for me was the tipping point. They could not even count the votes correctly. They are now too small to progress it alone - the cash will twindle at about 1 million a year so they are holding out in hope of the big score in Ireland or Fyne. As I say that could well come off - but as a shareholder it is clear to me they should merge with someone else and pool what they have to get at the bigger prize and get rid of the current board. SOU was a sensible option at a fair price. They turned it down - the resulting performance of the share prices says it all.
There are so many small caps out there with no money in the bank, huge debt and billions of shares in issue. Antrim has £10m in the bank, 2 good assets and less than 200m shares in issue and yet people can't see the value here. Weird!!! Once they buy into a project, this will move up quickly. Current market cap is a laughable £3.7m and yet we have over £10 in the bank. !!!
Fyne has 10.5m barrels of proven 2C oil. It has wells proven to flow at over 4000 bopd at circa 25api which is great for the North Sea. The Irish asset has billion barrel potential and looks likely to be the new oil frontier. We also have around £10m in the bank with no debt. Plus there's less than 200m shares in issue. At these prices this is a gift. Anybody thoughts ??? I do feel for investors who have held in the past but at this SP it's very cheap !!!
Just can't see why people can't see the value here. Great presentation today !!!
Love your enthusiasm. The problem is any long term shareholders have seen value destruction of monumental proportions caused in no small part by incompetent management decisions. Whilst they have assets - the cash is not enough and they broke their covenants on their last loans so I suspect financing will not be easy for them to access. They are totally relying on partners to develop the assets. The track record of drilling in Ireland is poor and likely to be expensive. Fyne is marginal and reliant on a partner using new technology - Enegi (I believe) - go have a look at their board and see whats going on there. So yes potential asset rich - but I would be surprised if they are buying anybody. They should have merged with SOU to benefit the shareholders rather than themselves on the board. Personally I have massively reduced my holding in the past month and now keep a small bit (my first original holding 90% destroyed) to remind me. There may be some money here for the traders - but the spread makes it difficult to do that. Long term if Kosmos comes off it could well shoot up - but its a longshot and why I have left what I have to see if the numbers come up.
Shares in issue here. This should fly!!
This should easily be 3p. Sound oil offered more than to buy us not long ago. We have money in the bank, good assets and no debt. Where's the downside ???
Should see this move up today....so much potential here!!!
Great presentation today and shows we gave 2 fantastic assets here plus money in the bank!!!
Estimated working capital position as at December 31, 2014: US$15.0 MM (CAD$17.4 MM), Debt as at December 31, 2014: US$ nil http://www.antrimenergy.com/files/Corporate_Presentation_Feb_2015.pdf
No debt and a huge amount of cash to invest with these lower oil prices it has opened up many opportunities. Cash is king!! "Evaluate new opportunities for transformative upside potential"