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Just get it over with do the placing so the company is investable.
Am a bit surprised at the messages, the board did tell us that they will probably need more cash on their full results RNS months ago. If nothing else at least they are up front unlike others on AIM, MATD being one of them. As for how they raise a finance, i am not convinced it will be more shares being issued. There are other mechanisms to raise finance, the share raise idea is deeply undermined with the current stock price. If they raised £5 million at 0.05p for example, enough for 5 years costs, we would have to issue 1 billion new shares. Harry personally would lose at todays stock price around a million pounds on his stock holding not withstanding the many millions he is down already on his original investments. Considering poor old Harry doesn't draw a salary, he wont be very happy. Also he is a multi millionaire many times over (assets in the hundreds of millions) and has big banking, finance ties. So my bet is that it will not be a share raise but a different structure that will keep us going until we get our partner.
Gus
U should read your post above again
It will tell you how little to nothing u know about wants going on at BOR
Rumblefish
Rumblefish, dont question my opinion you illiterate fool. One that cannot put plain English into a paragraph correctly!
I hold nearly 7 million shares here pond life, go and crawl under the nearest rock please. I am well versed with what the f is going on here, otherwise why would i hold 7 mill and plan to increase?
Tw t
....I have Rumblefish filtered, its easier....lol
Hahaha, well said Gus. Who is this Rumblefish gimp ?
It looks like a spam bot gone haywire, with some major literacy issues.
Like I said start reading your own posts
7 million shares
U would have to notify the company as a large shareholder
They would have to release an RNS
That’s the problem with brits think there better then everyone else
Most of them r **** poor and just take themselves up
Rumblefish
I well below 3% of the shares in circulation, so no need to notify! I would need nearly 15 million shares to breach this level. I certainly won't be going there.
Why I buying BOR
7 million now
You must understand that Yhe company is
Running low on $ash
Rumblefish
Surely your here to enrich us
7 million shares
Please tell us how you decided to take this
Position
Rumblefish
Blocking is easy
Gus, Phil, Arth
All bull SHi****
For Show !!!
7 million shares
Ha
Rumblefish
I think u have to notify the company of your interests
I’m being very serious
7 million shares
Way way above the 5%
Let’s see if u do it
I’ll gelive u till the end of this week
Otherwise I’ll have to go to London abs southeast for your id
Meaning who you r and report this information to not only BOR, but also
London stock Exchange
Rumblefish
I didn't really want to reply but there are 485 million shares in circulation, my share holding is not even 2%. You are obviously not very clever, buy a calculator which may help but you need to learn how to turn it on first which may take a while.
Ahh see Rumblefish is still at it, although cannot see his comments I assume it is him, you must have a very sad life indeed to come on discussion boards and pick fights with people, well either sad or in need of some psychiatric help.
GUS, I sincerely hope you are right about there being no need for share dilution, we will all find out soon, as I have said before I will hold what I have here to the end.
Phil. My post is an opinion that is all, it would beggar belief to raise at this level. The board have had ample time to see the day coming and ample time to prepare. If they lose the major shareholders then they lose their jobs and hand their discovery to someone else. One of the irritating things the board says every year, is the lack of farming out is because of market conditions and not their own failure to finish the job, Its probably a bit of both. I am also here till the end.
Gents & others, I have been here since the discovery and lost a lot back then, but I've traded about even - I've never been out of BOR. I presently hold a insignificant 150K shares so I'm no big cheese. I'm also a 41 year O&G professional so I may know my onions - get it! There could not be a better market position to do a deal for BOR but there's a significant headwind. getting a rig to the SFB will result in a well cost of ~$70 mil , say $120 mil for a two well/sidetrack programme - aint going to happen for a farm-in. BOR is worth $30-70 mil in asset value, so you buy the company. I checked recently, but all the majors have interests in Argentina so, with sanctions, it won't be a major. I'm in to the end too, it's either 6p-12p a share or zip, high risk all-or-nothing punt. Thankfully, I also have BP shares. Best of Luck to all, let's all be kind - GeoChem.
Hi Geochem, would be interested to know how you come to your valuation, not because I have the knowledge to argue with it, I am genuinely interested. You are right historically it is the Argentina situation which has held this back, shell were once rumoured to be interested at two pounds a share, but that is almost a decade ago, a lot has changed since then.
Phil
You must be a bear on the stock
You’re correct
BOR has spent the best part of
10 years trying to find a PaRtnEr
Burning 70 million On the way
Rather than 3-D seismic
They should’ve spent the money
With a company that advertises
Dawin And they’re find
Rumblefish
Hi Phil, I'm viewing it as a balance sheet /reserves exercise for a mid-tier oil co. It's an undeveloped [albeit substantial] reservoir in a remote environment devoid of infrastructure/support networks distant to market. Their mistake was that they did not test [DST] the well so all data is MDT and seismic interpretation based. It's simple logic that it's far cheaper to make a play for the entire company than to farm-in. I've stated before, given BOR's situation, about 6p a share comes in at circa £30 mil and may be enough to allow the institutions to cut their losses. The only hope would be a competing bidder which could push it circa 10p, then dollar convert. Nobody involved is relishing a fund-raise at this sp, I've run the numbers and it doesn't look pretty. Best Regards - GC.
Thanks for replying, an interesting read.
Hi Geochem that’s what I’m thinking approx 10 p a share we will get a buy out ! With oil high we have a chance , Maybe OPEC could not supple more oil as oil price .com has just said . Good luck all
Market cap £ 3million ish, asset is currently worth £38 .34 Billion USD/ Roughly £28.20 Billion Pounds. Give or take a £1. Somebody surely somewhere will have this!!
Gus, Phil geo and anyone else
I tried twice to call the company
The phones are always engaged
Anyone else wanna try
Rumblefish
Let’s stop
With the amateur literature
And get down to the point quickly
Rumblefish