The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Good spot on the Iolar result. Strange there is no more detail. Perhaps CNOOC are having trouble getting HSBC to clear their RNS.
I was just thinking about the approach being taken. By my reckoning PVR have already committed about €2.5m of our money to the site survey. They have committed €X to mobilise the rig to Broe - they surely would not pay for that to only see it sail away. They must already have finance in place or have a good feeling about the cash arriving - and soon. I can't make the meeting on the 12th but I expect that unless ToR wants to be verbally assaulted he must be working to resolve at least some of the outstanding issues. I wish APEC would just pay the focking money......
I guess we could always borrow the cash from Melody Business Finance LLC. It should only cost 12% plus 20m shares...... that was a disaster so I hope we don't do that again. I was looking back for the name of that very obscure crowd that lent us money in the past - looking through the RNSs I had forgotten the transocean case, the fact that it nearly broke the firm and that shareholders read about it in the papers etc. I can't believe the LSE never sanctioned O'Reilly, the AIM/LSE really is a joke without any real supervision - the failure to tell shareholders that APEC were late with payment back between December 2018 and June 2019 is reprehensible but just part of a longer pattern....
Mamms....for you own sake and for the sake of your loved ones, do calm down and enjoy life. You are going to make yourself sick.
It will all come right in the end.
Enjoy you long weekend!!!!
Yeah, I'm just venting.......
You too. Hopefully some good news next week.....
Kommandor on the move. Not showing destination yet. Watch this space.
I am sure Melody would be willing to lend again and even if the interest rate is a little penal remember we have just saved ourselves at least £1.5m with the dropping of O'Reilly's and O'Sullivans options. I am sure if those options had another year to run they would have exceeded the exercise price.
So, Melody loaned Providence $20m which Providence repaid two years early. It paid it in 2016 but it could have extended it to 2018 but decided not to do that. So I am sure it has the credibility with Melody to raise a similar sum again against the company's assets which was the guarantee for the loan the last time.
So Melody will be a good fall back if the APEC money does not come through and the loan will easily cover the survey and I would suggest that Providence would only drill one or two wells and a sidetrack with the remaining money.
Still life in the old dog yet. Hopefully it will be on its feet soon barking.
Yes Mamms, it will all come right in the end. It's only taken seven and half years since the last Barryroe appraisal drill to do precisely nothing. That little vial of crude in Tony's tanned hands is the sum total of what we've got so far.
For some reason I'm finding optimism in short supply right now. If, perchance, APEC come up with the goodies I hope we drill the bejesus out of Barryroe and flog the company ASAP. I'd very happily see TO'R get a richly undeserved twenty million shares out of the deal to align him with shareholders and wish him the very best of luck, if only to see the back of this crock o' carp.
P.S. The Kommandor is steaming back to the same survey site it was at all week, about 300 km due east of Aberdeen. Unless it has a stuck rudder it's not destined for anywhere near us ... although that would be just the sort of jinx we might expect from a Providence drill.