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Meant to add this link to Wytch Farm wiki...
https://en.wikipedia.org/wiki/Wytch_Farm
Agreed. In my opinion, there is real value in the licence area, which is next to the largest onshore oil producer in Europe, Wytch Farm owned by Parenco. On relist I would expect that high demand and a small free-float (even with dilution for drilling funds) will cause the SP to rise significantly more than double when it was suspended. The big advantage is that it will on the main market, and therefore not appealing just to PIs like AIM stocks.
Come on guys, let's keep it real. The only thing of value here are the licences. INFT don't have them, Transgas does, ie Gerwyn owns them. He's using INFT as a vehicle to develop them in a listed company, and for that we're getting 26% of Transgas. He could have decided to do a brand new IPO and let INFT go to the wall. OK that would have damaged his reputation but it would probably have been possible. INFT has nothing at the moment except around £500k in cash (I think) and the corporate structure to enable a quicker, easier listing. It look's to me like we'll initially list at around double our previous SP, which sounds about right for being locked out of our funds for so long
When it comes back we'll all have to make our own choices as to whether to sell or stay or even buy more. If the reserves are high as the circular suggests, then this could be a great opportunity to be in at the start of what could be a very big ride
To suggest we're being shafted seems a bit churlish to me
Basically he gave us 26% of Transgas with one hand and took 19% or so back with the other hand. We end up with 7.5% or so and he goes from 26% of INFT ownership to over 71% diluting us massively before he raises any funds e.t.c.
sadly, this is not the only company i had been in which had been suspended.
i can only talk for myself, my past experience tell me that i am glad its coming back and lesson learnt is never invest too much, just few thousands.
Get together and write to the company that we are not happy with the deal. We are willing to pass the waiver but would like to see a return for our supporting the RTO and to amend the offer.
Please enlighten us how we could have squeezed anything more, we had been in suspension for past years and we couldn't do anything, we were at Gerwyn mercy
I think he will dilute INFT further before he gives away any more transgas he will have 70% of INFT and only needs to keep just over 50%, if he can raise at .004p then not so bad our average will go up slightly.
Yes, if the Transgas valuation of £41.3m is accepted as fair
Transgas still need to raise funds to develop the assets or farm them out, so it will be interesting to see how that unfolds. If they need £10m operating cash he'll need to sell another 25% or so of Transgas. But if there's really 200m barrels of conventional oil that sounds cheap to me
Yes Fyoz that looks right so our shares should open on the market at 10.7 million / new shares in issue of 4439080877 which would = .0024 each
He could have made this a lot easier by offering us e.g. 7.5% of Transgas for £1 and kept all our share holding the same as suspension.
Kind of agree with you te1970, but as yet we don't know what SP we'll re-list at. 0.4p is being used to calculate how many shares to issue to Gerwyn for 26% of Transgas, valuing Transgas theoretically at £41.3m. The SP of INFT probably won't start of at 0.4p though because the new combined shares in issue will be about 4.44bn, so on that basis our SP will be about 0.22p (if £41.3m for Transgas is right)
Let's vote for the resolutions though and at least get back in the game
Ryan on twitter has nailed this
Gerwyn is taking INFT shares for the 26% of Transgas, not cash
If INFT isn't successful then he's lost a huge amount. Those saying he's being greedy should think about that. He is risking far more than any of us who just bought into the cash shell
Are you f--king being STUPID???
The share price as at suspension was .14 and it is coming back to market at .40!!!!
I dont care if Gerwyn takes it all, i just want them to re-list so i can f--k-off.
VOTE YES!!
Brexit comes to mind
'So if agreed there would be 4439080877 shares in INFT at .004p = £17.75 million valuation on 26%. Which would mean transgas is valued at £68 million not 341.3 million....is that right?'
No ttaa
Transgas is being valued at £41,3m for the purpose of determining how many new shares to give Gerwyn for the 26%. Transgas will remain a private company, and INFT will be valued on what the market thinks Transgas is REALLY worth. So if the real value of Transgas is perceived to be £100m, then our MC becomes £26m and the SP would rise to about 0.58p. If the valuation of Transgas is considered to be lower then our SP will fall as a result
That's my take on it anyway
3.14 IMO the other way to look at this is that the majority of shares could be in sticky hands (ie GW), hence little free-float and no concerns for relist SP
'Fyoz if this did happen to open at .1 which no one knows what will happen were well out pocket, and gerwyn still pockets 2.5 million that's how one sided it is'
Of course it's heavily skewed in his favour, he has the licences. He owns Transgas, and if there are 200m barrels of conventional oil in the licences and possibly billions of unconventional, he's not going to just give it away for naff all, and let us reap the same percentage rewards just for buying into the cash shell
We really need co see the CPR it has maybe valued Transgas at £20 million for all we know.
I actually feel the valuation for 26% of Transgas to be on the low side (200m and 11bn conventional/unconventional oil in place). I am no oil expert, but was very pleased when the RTO was for PEDL licenses next to wytch farm (Perenco), which is the biggest onshore oil producer in europe. A successful first drill by INFT could see serious financial returns. Really don't think there is anything to worry about the initial relist SP. Make sure to vote, don't want any further delays. All in my opinion!
not £41.3 million
So if agreed there would be 4439080877 shares in INFT at .004p = £17.75 million valuation on 26%. Which would mean transgas is valued at £68 million not 341.3 million....is that right?
Fyoz if this did happen to open at .1 which no one knows what will happen were well out pocket, and gerwyn still pockets 2.5 million that's how one sided it is
At the moment we have nothing hopefully we will have significant assets when this returns
I will be voting for the resolutions .... If Infinity relist at .004 that wiill give me £21.2k if I sell and for around a £6k outlay I would be happy with that ... would most likely not sell on the day of relist as hopefully we will get to 1p+ shortly afterwards, who knows, and then it' would be decision time ... I don't care how much GW makes out of this as long as I do ok.