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The 1 code proved accurate yesterday. Copl has a firm grip on you Angus, and yes, too good to miss out on.
Roll on that all important good news.
A few weeks ago investors here were saying 0.30 won't be seen again...
DSC I doubt 0.30p will be seen again
Sam, we are much closer to it than I expected. We should be in the region of 0.60 to 0.70.
Completely agree DSC I am truely shocked at the SP with the news but it is what it is, me and others bought at 0.50p thinking it was very cheap and now it’s a bargain this will go up just a waiting game for now before we follow the likes of SYME with there rise, each day passed we’re closer to the news :D
What in the new RNS does the removal of the Nil Value part mean? Sorry if a daft question
Market is news driven. So will just have to be patient for PSC extension confirmation whenever news comes.
Should be a formality imo. Otherwise no point for all parties to go through all the hassle of settlement deal.
Donald what about those saying 2/3p then, even you know it’s worth more being fully funded and de-risked ready to drill
?am Have you tried not feeding Donny? Its keeping him in a job.If you and a few others would leave him alone,he might just wither away
I agree warrants have been holding this back
LB28 Within the RNS it stated that upon the granting of the extention all agreements can the be signed..... That is the only hurdle to jump
As Razz says ‘expect the unexpected’
An amended Shareholders Agreement, the highlights of which as follows:
o Essar Mauritius to carry ShoreCan for a 10% carried interest (capped at US$5 million net) on all costs relating to the drilling of the first Well to be drilled under the terms of the OPL 226 PSC
o ShoreCan will have the option to increase its shareholding in Essar Nigeria from 10% to 30% by paying 20% of historic expenditures of Essar Nigeria at cost through the drilling of the first well. The option is exercisable within 90 days from the completion of the first well as defined in the final well plan as approved by concessionaire (NNPC) and regulator (DPR) under Phase 1 of the OPL 226 Production Sharing Contract (PSC)
o The Essar Nigeria Board of Directors and management team to be restructured commensurate with its amended share structure to reflect the increased shareholding of Essar Mauritius
· A Loan Agreement with Essar Nigeria whereby Essar Nigeria recognizes historic expenditures by ShoreCan on behalf of Essar Nigeria as a shareholder loan, thus allowing ShoreCan to recover these expenditures, cost recoverable and non-cost recoverable, from future production revenue
Essar Nigeria, with the full support of its shareholders, has applied to the concessionaire and the regulator for an extension of the exploration period under the OPL 226 PSC beyond the current term ending September 30, 2020. Completion of the definitive agreements outlined above is subject to the grant of such an extension and other customary completion conditions.
The part of great importance is the last paragraph......
Completion of the definitive agreements outlined above is subject to the grant of such an extension and other customary completion conditions.
Once we get the extention the larger investors will be here like rats up drainpipes
If you were a gambling man, what do you think the chances of not getting an extension? I reckon about 10%
There you go my buy has just showed up I don’t talk **** like most on here
I think less, it's a given at his point. Loaded up and peaceful waiting not to long at all. 1p++ prespud
I reckon 5% chance, they have put in so much work to get it resolved and Cathy also said there is no reason for government not to extend so a pretty cert in my view!
When do we think the extension will be approved (if it is). Are we talking the day before the expiry or in good time?
I think there is 0% chance of not getting the extension. Shorecan and Essar M would not have signed the contract if the extension wasn't already in the bag.
Agreed. There would have been no point in such a huge step in formulating the agreement had both parties not been given a binding assurance that the extension would be granted
Yes Angus but show us your sell later
0.38 google... Could by fibbing though lol