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The CLN holder has, notwithstanding the threat if injunction, just lent a substantial additional amount under the CLN.
That my friends tells you everything you need to know about the challenge.
Autonomy. It's called crew changes. This is a drilling operation, not a cruise.
Let’s wait and see not done my top up yet
GLA LTH
The crew swap around every 30 days , the crew have to come from all over and arrive at one place usa or Bahamas where they van be helicoptered in. But in the interim they need a bubble hotel and places to stay. Privte testing at the hotel medical on site bla bla Equally some or all key staff private plane charters to avoid airport queuing and other its easy to see how this add up, 3mil doesn't even get you a championship striker. Sure thisncould have been forseen but no country foresaw wave 2 and usa are still in denial. Imagine if Biden locks down florida when we need the second crew on deck. That's why they need isolating. Relax lets get drilling
I'm expecting the sell on news brigade to sell at 3p to buy back in at 2.8p.
Usual shenanigans. Aim can be very predictable too on some stocks.
Amazing how theycan change the dates to suit themselves on the cln
Today.
However, it was also agreed that to the extent that the Subscriber elected to subscribe on an unconditional basis for at least £1.5 million of Notes prior to 30 November 2020, the date for the satisfaction (or waiver by the Subscriber) of the conditions precedent would be further extended to 15 January 2021.
20th oct
Further, to the extent that the Subscriber elects to subscribe on an unconditional basis for at least £1.5 million of Notes prior to 15 November 2020, the date for the satisfaction (or waiver by the Subscriber) of the conditions precedent shall be further extended to 15 January 2021.
Just another annoying point are they going to give back their shares as the drill obviously wasn't fully funded!!
Still holding but getting fed up with falsehoods, and obviuos disregard for pi's.
Good luck but will it all end in tears.
Down - this came out of the blue. How many more surprises are we going to get before spud?
Prob be 3% up end if day
Slowly slowly
Today I rose being awakened by an early morning ****... crowing from afar...
Morning Harry.... lol
Enough said
Not much is going on
As I understand the drill takes weeks, and different people / teams will fly in during the course of that. Hence could interact with the core drill team.
Autonomy1, crew ship swaps etc..choppers in and out.
Why because they have no case this is a signed deal and off we go to drill. Covid strategy & funding strategy. Good luck all
Pluto's, where did you find a 2.5p CLN reference? I couldn't find it anywhere. As you rightly said, the sp will be higher by Jan so expect a higher CLN ************** rate.
I couldn't care anyway regarding this CLN as I invested here to see the black gold in the end. Saw the geology seismic work and am convinced we have billions down there. Boy I wish I was on that drill ship.
:0)
I hope the RNS isn’t bad
Since blocking Harry all I see is green.
Harry, take a valium or bite a bullet just JOG ON son
Can someone explain how a crew on a ship in the middle of nowhere are going to catch Covid presuming that they were all tested days before they sail
Morning all
Can someone please clarify for me the difference between the CLN and the Zero coupon facility?
Which one is the one at 2.5p with bizzle?
I ‘think’ it’s the CLN with bizzle at 2.5p that has been extended by £5m to cover covid costs (if we need it) and the deadline extended from mid Dec to mid Jan. is this correct?!
If so then this confirms the zero coupon facility is unlikely to be needed, also that the cln will only be needed if no other funding can be found.
Looks like a further dilution of up to 600m shares in January if needed when hopefully the share price will be higher but presumably the conversation rate is still 2.5p?
I’m expecting this will drop the SP this morning as is 10% dilution potential.... but then this share is already lower that we would expect so might be priced in on the basis of funding announcements were expected. Equally, as is the norm when you think it’s going down it goes up :)
Stay strong folks, we ARE going drilling, we ARE fully funded and we own 100% of the company
Dbc
How so, please explain to small minded people like myself
I think this will be positively received happy holding here right now.
You couldn’t write the book. Small company with super prospects has over the last year been thrown more challenges to overcome than anyone could ever imagine – and yet they keep the boat sailing. It is not easy doing what these guys are doing, they are brave and bold, and I wish them all godspeed. I sincerely hope they hit the jackpot because they deserve every bit of it.
Very nicely put Starchild.
Frustration is understandable. Like you I am a multi million shares holder so if anything we should be as frustrated as any......But it dont help :-)
Simple.. this is a once in a lifetime chance for me... and I'm sure the others sat waiting will be doing the same
That’s a good summary Star,
Also add to that they haven’t had to use the zero coupon facility.
On a downside the up to 7m contingency is money that I had factored in for site operational use. Covid extra’s has understandably eaten into that.
It does open up the option though for Stena to fund during the drill.
On the covid side don’t underestimate the logistical excellence of this plan. Right down to using regular multiple and different tests for the crew. They have done a lot of detail to know that that is imperative. 1 test or for that matter 1 type of test is not sufficient.
This also sends a message to the Bahamian’s about the risks involved and costs. It’s not a done deal get rich quick plan!
For those skip readers make sure you read the last three paragraphs.
As for OMJ when he writes his missive he will try and say “told ya so!”.
We’ll actually it’s clear that the not only was the drill always funded bar the covid contingency but ops are also covered for a year!
I don’t know about the SP today but given yesterday’s rise against this news which obviously would have been at least rumoured it held up well.
I am hoping for an early dip to give me time to add. After which I think it will end up back where it was. 15% usually equates to a lot more in the market but in the scheme of things it’s not really a lot.
It’s still all about the drill and now we have more surety!
Usual caveats
Trek
“Playing it like a fiddle”. Eh Harry?