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It appears that £2.6m loan to ukog is 10pc money. Reletivly decent income stream albeit accruing. I'll be interested to see if the interest is recognised in the annual accounts.
The total investment in HH, including, therefore, the advances, is heading for a substantial impairment, imho (see UKOG's final results RNS for their impairment and exploration write-off).
If a distressed loan, Maybe alba can take possession of that asset and sell it off.
Didn't the company employ a new NED oiler not so long ago?
As I understand it, the loan to HH is on a pay us back when you can basis. Interest may accrue, I haven't seen the reference to that. Note that in the first equity research note hh comprised a significant portion of the alba fundamental valuation. The ukog accounts show an impairment. Does anyone have info on when the new simpler more likely to produce Wells will come on stream, and what rates are anticipated?
No, as the loan can't be called in as hh are not in default as there's no repayment date. If alba would sell off the loan they wouldn't get much for it as it wouldn't default unless hh went insolvent. Then we're in the back of the queue, just in front of shareholders... Which alba also are.
Look, I don't object to it if there's a strong likelihood of an ongoing significant income stream, but I'd like some idea if how much and when. At what stage would we pull the plug on it?
Surely we need to look at the HH expected income stream to see if it’s a good deal...also was the loan given in executed shares I am not sure where I’m looking too see this information you’re getting
I am totally bambuselled by the ins and outs of the complexity of HH. They have been on site drilled enough holes and spent a lot of money for a long time now. Surely it's a plug or play situation? Itseems to me that they are drawing things out but WTFDIK
A quick perusal of the Ukog BB and people's thoughts on SS's latest interview suggests that due to bureaucratic hurdles he has largely given up on UK oil and has moved on to try his luck elsewhere. Things here would have been mightily different had HH come good. Perhaps there is still hope for HH otherwise there's no good reason for Alba to retain the services of an oil consultant.
Ian it was that law suit that took the time away now they have won I’m still stuggling to understand why we even count it as an asset in the company...sell it along with Limerick would make me happy
https://docs.google.com/spreadsheets/d/1BUkYp2OWPTU25YZPe0qSHG7X0x3dBFVsZlW4zlKa1L4/edit?usp=sharing
These are the fag packet numbers I came up . I think that unless there was plenty of cash before the last placing (the good one), then there will be a need to raise up to £800k to pay for Greenland exploration (if the travel restrictions are lifted). With the remaining shares numbering 415,522,957 available to be issued then that would be at 0.192p about the time that Greenland gets underway. Now that's a bargain basement for someone ... especially if good results come from Clogau in the following days.
Momentum coming up, money flow coming up, can see 50+ again in the next few weeks and then onto new ath. How high? Obviously depends on newsflow but I would say, judging by the recent upswing, it should be significant. Last few weak hands taking advantage of the recent rise to exit. New money and sentiment kicking in. Someone know something? Indeed, I believe they do. It won't take much to 5 or 10x or more from here. As a long term holder it's a rocket ship primed for take off and I for one am not going to miss the trip. Another add methinks. Enjoy the ride.
Also, why the new top flight appointments if something wasn't in the offing. Seriously, would a top flight lawyer really want to be involved with a dead duck. And why the permanent position for Mr Austin unless there was something permanent to take him on for? As in gold etc. Add it all up with the depressed sp and now the start of a move up with no obvious reason and there's the reason, right there. Telling you people. Seen it before. Same kind of patterns. Something afoot here if you ask me.
MickeyMix and interesting perspective you have.
If there was something afoot surely the BoD would be buying even modest shares as a sign of confidence. Their lack of buying would surely go against your sentiment?
Just my own thoughts. In three weeks time we shall have understanding of where we truly are. (If the ASSAY results get through and do not take months like the last set)
asssays dont take months, they take 2-3 weeks, as I said in october 2020 and as GF said in the last broadcast
anyway, moving on from that ... the directors may not be allowed to purchase shares at present as they would almost certainly be in possession of "inside knowledge", like the content of the annual accounts or possibly sackfulls of nuggets found in the tip.
In my experience, things aren't always as they seem, or we are led to believe they should be.
Very almost too optimistic statement be careful not to be disappointed by your own bullish views as we all did in jan better to look at slow and steady growth and solid news flows. We need to also think about the fact GF and others have huge amounts in warrants so buying wouldn’t really make sense however I would love to see the confidence it would bring!
We have had a couple of blue days, so no harm in giving a shade back. Saying that, sell limits are currently very strong so someone wants shares.
Time will tell, time will tell. Personally, I suspect the loading up has been quietly going on for quite a while and wouldn't at all be surprised if an announcement is pretty much around the corner.