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Exceptional management, perhaps a mistake turning down the recent offer??
£10m in the bank ......laughable......but typical if the AIM.......We all know what comes next though........The crazy rise !!!
Kosmos will be choosing which block they will be drilling early this year. However, I expect news on another front before then. £10m gives us plenty of opportunities and current MC barely values the interest on our capital. lol
Monday morning blues !!
Personally I will be topping up here. Not many shares in issue and plenty in the bank, so in a better position than most IMHO. It will only take the smallest piece of news to move this fast !!!
time to stop? ...don't look so hopeful here
There are plenty of projects around currently, due to oil stress, that just require an injection of cash to bring it online. A project either currently producing an income or soon to do so, would be perfect for Antrim. They do not have to blow all our capital though. £3m - £4m could easily buy us part of a project which will provide a good income but requiring little more capex. We would then still have plenty left for running costs to build the Antrim empire. Both the Irish and North Sea assets will not need any real expenditure until 2016, at the earliest, by which point they could be farmed down. There's so many options for this company and that's without considering a buyout from Kosmos or similar company looking for a cheap entry to Ireland. We are just going to have to wait to see what this BOD do to move Antrim forward !! Cheers
TIPTOP, your BOD can go & buy some new assets...........then issue a shed load of equity to fund their development. Meanwhile plenty of long term AEY holders have drowned in a sea of shares......................... There is a reason the market values AEY at less than £4 million - it's because they have no real assets to produce. The cash they have won't go far buying even distressed assets - & then they will need funding. Crude
£100m MC in 18 months, that's all very well picking predictions out of thin air but realistically not many small caps can achieve moving up into the next tier. I remember only a couple of years ago Sound was trading well below 1p in fact I think it touched 0.30p at the end of 2013. Before that I remember Sound oil was floundering with no direction. Antrim could well de taking on Sound oil in a few years. There has never been a better time to pick up very cheap oil assets with the oil price on the floor. Antrim has the opportunity to create its own future with money in the bank and a clean start. Watch this space :-)
One thing I should have mentioned which is crucial is this: looking back overy two years I saw your share price was over 35p. It then fell to 10p. I am assuming there are plenty of investors who bought in at these prices & are not in at 3.5 pence or lower. For them to double their money with AEY as a stand-alone company company seems a finite possibility. You may be in at a price that you could hope yo make money on: my guess is that there are plenty others who are not. They may hope for an offer that stacks up the premium to current value.............but that premium with us is our cash & drillable assets. I just hope your investors are not left high & dry & profitless. Crude........as ever, all the best.
TIPTOP, I guess you can always hope for a pump & dump & sell at the top. I just can't see even that happening without any news. I can see Sound Oil becoming a £100 million cap company in the next 18 months. What is crucial for you guys is the BOD don't just sit around. They have to spend that money wisely. Either way both sets of investors will have to wait some time before most see much in the way of a profit. Crude
My point here, is if you invest in Sound today the market cap of that company would have to rise by £40m to double your investment. Antrim, on the other hand, would only have to rise by £3.7m. Which do you think is more likely to happen ???
DrRemmington, far from it imo. If my experience of reading books such as 'The Taking of Getty Oil' & that infamous Nabisco takeover are anything to go by. Of course they are much bigger deals but nearly all leveraged buyouts, mergers or takeovers have one thing in common: they all start with an initial offer - then the dance begins. You may not hear from us for a few months. But in that time you may still be valued at under £4 million whilst Sound Oil, with plenty of newsflow expected, could be valued much higher. Any further offer by us would reflect the current Crude price & would almost certainly be lower than the original offer. But the corresponding premium may yet be higher. What your BOD have to do now is get busy either buying assets or touting for another suitor. Salamander are an intending case in point. They had an offer of £1.20 fall through whilst they were £1.10. They are currently low sixties & another much lower offer is sure to happen in the not too distant future. Keep an eye on them for comparison. My motives and reasons are pure and genuine. I've seen too many investors lose money and too many badly run companies on AIM (Assets in Meltdown) & I am convinced a marriage of our two companies would be in everyone's interest. I am sure there are shareholders in both companies who are underwater & dreading the next round of fund raising (dilution). This solution avoids such a horrendous fate. Crude.......wishing us all luck whatever happens.
Hello Crude, isn't this irrelevant now that Sound Oil have withdrawn there offer? Regards
OK let me put it another way: there has been a complete paradigm shift in the oil & gas market. You no longer have assets that anyone wants to - or can afford to drill right now. You have cash but nothing to spend it on. The question you guys have to ask is this: can our £10 million buy into a portfolio of discovered, producing & potentially high impact exploration assets at least as good as Sound Oil have? How much equity would your company own of any such assets & how risky would they be? If you solely buy into producing assets how much potential could they have to move the share price northwards? £10 million in the bank is all very well, but you would have to spend all of that to acquire assets - and then raise money through more issued shares to produce them. An enlarged company through a takeover would negate the need to dilute Antrim shareholders & their investors could look forward to plenty of low risk drilling and completion of discovered assets; current production that will be rising & two huge on-shore exploration assets that have the capability to greatly raise the shareprice. All investors win out & make money. Crude
IMO there is no compelling reason to invest here in the short term. Might as well get 0.5% in a cash isa. Probably not a lot of point in selling either though, unless you want to unlock your money and make it work somewhere else.
Tiptop.........you'd better hope it doesn't end there. This is like a two act play imo. The curtain has come down on the first act..............it could well rise for the second later. Just make sure you've done all you can to make yourselves comfortable in the interval. If you haven't got enough candy & pop don't worry......we'll provide it! Joe........that made me laugh ('we'll just have to live with the embarrassment')............your tongue has never been so far into your cheek! Crude......when you guys wake up and smell the coffee & start to wonder about your cash that could be freeze dried for the foreseeable you might want to look back nostalgically on our offer........................
We will just have to live with the embarrassment.
Crude, its all very embarrassing for Sound, like a shunned female. We actually turned down the awful SOU offer ages ago. Yet today Sound withdrew their offer. LOL
Lol. We both know that would be a very good move for Antrim . The opportunities are out there......and plenty of them in these kind of market conditions.
Maybe Antrim could farm into Ruvuma?!
Dr - you're assets never interested us. We would probably have had to farm down Skellig to 10% - if we were lucky - & even then we may have still had to contribute to drilling costs. Negotiating a free-carry on that asset now the price of Crude has halved will be impossible - let alone be able to drill it any time before you draw your pension. You guys seem to think you can just go out and buy producing assets with your £10 million - good luck with that one. That money is now your only lifeline - spend it wisely. Admittedly the £10 million was the real prize. The sad thing is we have the assets & £13 million on account & together,as shareholders in one enlarged company, we could have all made money. Imo your only hope is to be taken over before that cash dwindles away................... Crude............all the best.
Ok Crude, sorry you did not end up with our cash at bank & assets, good luck with Sound Oil, hope the Oil price does not affect them too badly. Regards
DrRemington........if you lose your money on Antrim all is not lost...........at the least you've got a promising stand up routine! Crude