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correction :
8,000,000 in exchange for 213,000,000 shares
213,000,000 in exchange for 8,000,000 shares
JHI sold a stake back 2021 for $2 per share
www.oedigital.com/news/488764-eco-atlantic-joins-exxonmobil-s-canje-block-off-guyana
so if you have 1,000,000 arg shares, you will get 38,000 JHI shares
even if JHI shares are worth say $1.50, then your stake in JHI is worth $57,000
they are churning out $43m+ profit (that was a few years ago... it'd be nearly double that now)
markets.ft.com/data/announce/detail?dockey=1323-14680916-6HSSS4PUSC9682MC7HBUI8DHUA
Eco was meant to pay $52 million for 100% of JHI. Arg gets 9.3% of JHI of the enlarged JHI, so roughly £4million plus whatever you value ARG at. Current market cap of ARG is say £2 million so £4.2 million.
One year ago ARG market cap was 6 million and one would assume ARG would easily have travhest £6 million market cap now that SL is very likely to go ahead with the Navitas news if it was not for JHI interrupting everything.
Just thinking:)
N.
Where are the Doomestrs?
from another board : if you guys do the calcs, JH Assoc. have paid quite a hefty sum... certainly way more than the current market cap of ARG. ARG shareholders are getting a slice of JH Assoc super cheap. The company makes $40m+ profit / annum. Last time they sold shares in the company to another outfit, the price was c£1.60 per share. This deal values the ARG shares at 4p.
DON'T...
i wouldn't buy with this spread just too big...crazy
With the Falkland Islands oilies I've always looked at them as a % chance of actually getting some oil out the ground, with it changing here and there based on the information available, some of it the minutia that takes place in the FI (visits, changes in personnel, etc.) and also the wider stuff. They're all a bit of a long shot, I always had ARG (backed by my 80% loss in value) as having about a 1% chance of actually drilling oil. Possibly with new owners, I'd make it a 3%. A long shot certainly, but worth holding onto my worthless shares.
The reason for the spread is fundamentally nobody is buying or selling (as usual), I have £36 in my freetrade account, I wonder how much I can influence the share price?
today on ARG...PTR worth a look....why such a wide spread
Bought few more....
We will see who will be drilling when the rig is in the North Basin in 2026...IMHO..DYOR
Nonsense....IMHO-DYOR
I get the negativity here but disagree that it's game over.
Let's be honest, what is soul destroying is Arg sitting at a penny issuing endless price monitoring extensions while managing to accomplish sweet FA. Can't say I'll notice the difference much holding as a JHI associate, at least something will get drilled and if Rocky start making a fist of things we could see some genuine interest in our humble Guyanan deep-water play.
Whether we ever get to see a return I conceed is highly debatable but not over by a long shot.
In fact, if we dip below 0.5p again I shall instigate my own liquidity event and buy some more at these crazy givaway prices! ;)
As long as I can remember Argos was always the laggard amongst the Falklands oilers, run badly by lazy people sitting on their ****s all day long, waiting for someone to come along and do the heavy lufting for them. This is not the 1980s and with today technology there is many ways they could have tried to drum up interest in their licence and company if they only could be bothered.
Now they will be taken over by another laggard…..JHI.
Surely there must be another solution? Maybe somewhere down the line RKH/Navitas will buy in?
This little Fairytale has ended. Promised so much yet lost shareholders 10s of thousands. The oil sector and AIM are a tough crowd
NOBONES4THEDOGS
"Question for Buffit and Happy is it really your recommendation for people to sell out at circa 0.35p?"
This is a very good question and a fair challenge.
I can't recommend what investors should do because, frankly, there are no good options left at this stage.
Everyone's circumstances are different. My personal thinking would be, can I sell and realise a tax loss which I can offset against gains elsewhere. That way I still get some value from past, poor decision-making (i.e. not having sold sooner).
I would personally find it soul destroying to hold a certificate for a non-listed entity such as JHI associates, which I can't sell in the foreseeable future. Also, on a fully diluted basis, your holding will mean next nothing at circa 6% of JHI. What's to stop JHI issuing lots of stock options in future and diluting you to 1 or 2%?
I think this is really insolvency by a different name. What one does with the shareholding at this point is of little practical consequence.
All IMHO DYOR
Happy
Drivel? It's a fact , shall I dig the post out for you ?
Carry on with your drivel.....Rkh was 520p, it's 14p now.
Come back after 2026, hope you are still a life by then.
It wasn't so long ago you couldn't believe this wasn't 5p Garbs. Well, 0.55p has the 5 in it I suppose.
Fair play, although might not be that long, weren't JHI subject to a bid from ECO last year?
I would have hoped RKH would at least take a look, vaguely recall they snapped up FOGL for peanuts long ago although could be wrong on that.
Should buy us out for an advanced chunk of the ICSID award or a couple of Italian superyaughts!
Non refundable deposit is surely JHI's business. Will the deal get approved anyway?, Directors only holding 20% here!
Can't wait that long for the money - I'm not as young as you.
Do you think there might be a counter-bid ? What about JHI's non-returnable deposit.
Sold 200,000 today - still got 100,000.
0.55p to sell now, how many do you have to shift? :)
Think I'm going to hold out for the big liquidity event futher down the line or never ;)
I wouldn't advise selling at 0.35p, but I'm going to sell because I'll end up with JHI shares. BP or Shell shares I'd be quite happy with.
Wow, didn't think we'd see a market cap of 800K, insanely low for an asset that's being bought for 5 million USD.
Any chance Sam and Rocky put together a juicy all share offer before the end of May?
Question for Buffit and Happy is it really your recommendation for people to sell out at circa 0.35p?
Just Drivel....IMHO
Good to see another player but I wouldn't get too excited about Rhea, high risk of H2O.