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Looks like they may be struggling to raise the money needed to come back to the market, or they are forging ahead with the rto, or both, or neither. Whatever the case, I would suggest that they find some spare dosh to appoint a director of communications (or new one). What is it with AIM companies and their complete disregard for shareholders (and no, I didn't have a great Easter). GLA jack
Hi all - any chance the Easter bunny might hop along with some good news this week - or should I be stocking up on discounted Easter eggs to survive the information famine? Still GLA
Yeah, I didn't think I would get one... though it didn't get us anywhere as there wasn't any info really. What did you ask?
You are lucky getting a reply, geek233, so far I haven't received a reply... must be my perfume!..
You're probably right about the DD. I hope so anyway. If it is complete, I can see no reason to delay the return to market. I've a good idea how much cash XPL is looking for, but it's not worth speculating at this stage. Maybe the relatively small amount is just for admin costs, until the rto is completed. We'll know soon, I suppose. GLA Jack
JackSht - I thought that the DD had been completed on the Pakistani prospects, which could explain why they are not looking for that much in the fund raise. any ideas of how much?
Sounding more desperate by the week.
I'm hoping that it is a matter of when and not if, although nothing is certain in this game. I suppose at least one of two issues need resolving before XPL comes back to the market. Obviously, completion of DD on the Pakistani prospects needs to be finished and provide a positive outlook. Probably before this, the latest call for cash must be completed, else XPL won't be able to fund the completion of DD. That said, the amount I've heard they are looking for is not much in the scheme of things, which concerns me greatly. Let's hope we hear something positive soon. GLA Jack
Any views on whether we might finally hear word this week?
No doubt at all about the bus company and power station(s). As things have moved relatively quickly with these alternative targets, they were probably somewhere on the original list of targets and have, IMHO, merely jumped the queue in the light of the Imara failure. GLA Jack
There was conversation on the board a little while back that suggested they are no longer going for oil exploration - but rather a bus company and power stations in Pakistan! Hoepfully it will all be announced soon.... GLA
Surely with oil prices so much lower, the offer price on the business they are after should reflect this? Looking at the prices of the oilies on AIM, XPLs offer price should be much lower than when they first initiated talks...
Would suggest funds needed for new due diligence exercise on Pakistani prospects. New shares at 10p would be my guess. How much to be raised is anyone's guess. Only hope that the DD exercise takes less time than the original. Still think that the DD work on the oilers has value for XPL, either for another company wishing to take up where XPL left off or for XPL to revisit when the time/price is right. GLA Jack
Trying to raise money for what? Acquisitions? due diligence? operating costs? Any idea what impact this has on re-listing?
Management are in London trying to raise money. Fact
Hi Purdey, I did the same. Got a reply within 72 hours, but just a general 'can't say much' - see previous comments
I emailed John Roddison @ Xplorer for an update (wishful thinking I know), but he's probably too busy running brownmcleod... zero contact from the company for 3 months is shockingly poor in my opinion. Just an update for shareholders would be nice...
news out for anyone holding there relist dates next week good luck here your time will come
Why indeed. Could it be that they are attempting to complete the bus company/power station rto before XPL comes back to the market. However, given that the due diligence exercise on the original oil targets must have cost millions, where would the money come from to complete another similar exercise. Is the suspension nothing to do with the new rto? Lots of unanswered questions and, therefore, lots of speculation (including this from me). I'd like to think that, having completed the original dd exercise, they may return to that/those deals at a later date. Would be great if we had all of them, i.e. cash generating businesses in Pakistan, funding (in the short term) the oil exploration prospects. Too much to hope for? Gotta dream eh! GLA Jack
Was thinking that myself. Probably that then
XPL were suspended three months ago today. I guess they only show trades for the last three months. That's the reason I think.
noticed that all trades on lse have now disappeared?
...oh well, thanks for the info. They are not mugs so hopefully "no news is good news". I will downgrade to a Tricorn for the moment!
No mention of Sombreros, no! That was basically it
Sounds encouraging...