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Hi ODR I think the 1.489 M shares you are talking about might have gone by now.Its possidle SH ZM may have used them to keep the co. going before the delist, as you have worked it out to be about $4.3M at 0.29 the selling may have started at a much higher price say 0.5p or 0.4por even higher giving them extra say for a round figure 1.7m the that would give us $6,000,000. knowing they had a fight on thier hands this $6 M would have helped in so many area`s YA, court costs,other things we do not even know about yet. Just my thoughts this afternoon, may change them later.
Here we go. Grey market is for insiders who can escape without trace
while INVESTORS are there to be fleeced. FSA employs Zombies and is
powerless as reported in the Press. ZAZA has an opportunity to expose the
Lot.
TSB - better than prozac
An interesting point, though, ODR. How do they determine a fair price to pay for shares issued to themselves in an unlisted position?
Not being on AIM doesn't stop share transactions taking place between a willing buyer and seller. So, unless I am mistaken (which is very possible!) I think that they could issue anything up to 1.489billion shares (the difference between the issued shares and the authorised capital). If this was done at 0.29p (say) it would equate to £4.318m (I think!). Obviously given what some of us believe that price would be completely inappropriate and so they should be able to issue the shares at a much higher price.
Were not on the AIM, are we
Kipperman: re bankrolling, they could perhaps have purchased more shares (there is headroom) or they could have loaned the Company monies. However the fact that we know the Mourant bill hasn't been paid and that they are now being personally sued suggests neither of the above. The personal guarantee does clearly provide irrefutable evidence that they're personally supporting the business and don't want it to fail and so implies that they believe their shareholdings are their way to the riches. In their situation it is quite plausible that they would allow their salaries to be rolled up; they don't need the money and hopefully have the knowledge that gives them the confidence that they will ultimately be paid.
So, in summary, from the evidence available to us, it is more reasonable to conclude that Zaza and Steve are on the same side as us, than not.
If they are bankrolling it, then it must legally be documented. Otherwise, it would throw the whole accounting systems into chaos. (If they relist, this money needs accounting for, otherwise, Zaza and Steve, could say they put in £50million each and issue shares to that value.) Cash them in and sail off into the sunset. This is why companies on AIM need to be regulated, audited and watched. (More than they are) No dodgy dealing. (This ties into my theory of why Cairne resigned, too many dodgy dealings going on under their nose, they were paid to protect shareholders, but turned a blind eye until they realised they had been caught sleeping on the job) More theories., no evidence! Make of it as you wish.
Sorry $30 BILLION share swap
MP
It is relevant that Anardarko were producing 666,000 BOE/ D of course it is however , the more important stat is that we have approx 13 times more resource.
I'm out and about now so cant look atm however one of the top ten deals involved a $19 billion cash payment and a $30 million share swap. $19 billion special dividend would nice !
I would suggest the GG are heavily involved with the discussions . A one off cash payment to them of $16 billion would equal there GDP , imagine what that would do to their economy .
My guess is SN and Zaza are bankrolling it, ‘if’ they are then they’re confident of a positive outcome here
Will add that as far as Frr being involved in the Dolphin project I would say that has been 100% confirmed through the hearing that is due in think September for Frr appealing on the Ukraine decision.
So looking at this in a logical way above would mean in some way Frr have funding/backing from somewhere.
As usual though, it is a wait & see.
Strange logic! so are you saying FRR have billions but they aren't allowed to pay legal fees because it's a secret?
I do agree that the cali solicitors would have run a mile if they weren't being paid. So we definitely have some money
Would presume that legal fees in the USA are being paid otherwise Frr case would be dead & fees as far as Dolphin project are concerned the English lawyer firm would not be willing to deal with anything unless they was sure of being paid. As they would know of the Caymans payment problem.
"Anardarko was producing a devil of a lot of oil per day (666k BOE/D)"
Zaza's target was 1000bbl a day by last Christmas! If they cant pay legal bills I'm not sure they've hit it..
This is why your figures look so insane MadP, thanks for your efforts though I'll keep believing
So by that reckoning Timster- if you have a million pounds in the bank and go to withdraw cash at a dispenser and it only allows you 250 quid- does that mean your million pounds is worthless
Asking for a friend.......
It's probably the first sign of madness feeling positive about FRR but the website changes must be significant. I know it doesn't prove anything but just intuitively what possible reason would there be to set about tidying up your public profile if any of the doomsday scenarios were just around the corner? Just wouldn't make sense but then I can't think of much that has made sense in the last year, oddly with the exception of delisting!
hehe
I'm trying to drive the price down to get a better entry point...... oh wait.....
Not either a ramper or deramper be TSBS....wish I could be accused.... :-)
To give some balance though...
...dividend tax.
I hope I have to pay a quite a lot...
:-)
MP - My first thoughts when reading the mergers and acquisitions link are 'chickenfeed'
I don't think people grasp what FRR are sat on (Hope obviously does!). If this comes good for us little people most will be millionaires and I guess a significant number will be 'euromillionaires'. I see block 12 split between a number of super majors (more than we know of). FRR will continue exploring elsewhere with its billions.
As Gipps says though - Will we get any of it? For what it is worth I actually believe so - glass half full and all that...
All IMHO of course :-)
"Anardarko was producing a devil of a lot of oil per day (666k BOE/D)"
Zaza's target was 1000bbl a day by last Christmas! If they cant pay legal bills I'm not sure they've hit it..
This is why your figures look so insane MadP, thanks for your efforts though I'll keep believing :)
Gipps - Looking at the top ten oil acquisitions reminds me why FRR has to keep schtum. Chevron was buying Anardarko for $50bn and then Occidental came in with a bigger offer of $57bn. Great for Anardarko, but extra time to complete the deal. Remember the clock is ticking on payments and licensing requirements for FRR. Also interesting is the proven reserves of 1.473 billion BOE for Anardarko, which means that FRR has THIRTEEN TIMES AS MUCH (19.1bnBOE/1.473bnBOE = 12.96). Anardarko was producing a devil of a lot of oil per day (666k BOE/D).
https://www.spe.org/en/jpt/jpt-article-detail/?art=5349
https://www.offshore-technology.com/features/mergers-and-acquisitions-oil-gas-industry/
https://en.wikipedia.org/wiki/Anadarko_Petroleum
CF 73
yes it is . $57 million profit per well , 1200 wells drilled previously, $56 billion profit .
I was just reading the worlds top ten oil acquisitions, that got my juices flowing.
On numbers, remember when ZM said each well could cost $3million and return $60million. Is good indicator of a few things that.
Gipps51 and Madpunter
Thank you for the replies. It's still crazy numbers, here's hoping this comes back with a vengeance. If it does maybe the shorters will start a discussion board to share their tales of woe? Providing they can afford an internet connection :0)
Oh and as for the shorters I think they know they have destroyed theirs and their families lives if this does come back .