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Anything on the grapevine JackSht?
Completely agree JackSht - just slightly mindful that of course I don't want my stake to be diluted out of existence......
what I'm looking for is just for XPL to come back. If that can be accomplished the rest will, imvho, fall into place. What I find confusing is the fact the Company is supposedly backed by Sprint Capital. The amount of funding being sought is, in the whole scheme of things, not very much. Surely they or their contacts could come up with such a piddly amount. BWTFDIK (clearly). GLA Jack
No news, sorry. Just thinking that they must offer an attractive price to get their money, ie less than 12:50. Someone suggested 8.00, but that IMHO is a bit too much of a giveaway. I'm being pessimistic about the future sp, but we should still get beyond £1 in time. Might be a year or two off yet though :-) Jack
Sounds like you have news JackSht. So our current ambition is 20p? A far cry from the heady days of 67p........ But at least it would be heading back in the right direction. Yes, GLA. I get the impression that we are all fairly committed here!!!
Agree with you on that. Also, don't expect the sp to come back at 12.50. My guess would be a nice round 10.00. However, if the rto is completed soon after, we could be looking at twice that or more. GLA Jack
Imo - don't be surprised if the 6 month date passes with no news. Won't be long tho as placing now complete. GLTA
Talk about leaving the relisting to the last minute, 6 months on from 19 Dec tomorrow....
What about the other £89,000 of shares from the placing?
So guessing we have to wait another 6 months? Sigh
That they dont come back at 8p
The 8p trade was the placing
False alarm. Has been edited
Have a look at the trades on lse chaps. 125,000 shares at 8p for £10,000 at midday. Any ideas?
Imara Energy, the previously suspected RTO target, had an interest in the boujdour permit off of the western saharan coast. This is the only Moroccan asset I have read about in the past with any relation to XPL. From a previous post: Offshore Morocco – Agreement to acquire a 36.75% WI in the Boujdour permit (25% WI to ONHYM and 38.25% to Glencore). Only block remaining in Southern Morocco not controlled by a Major; Cairn energy recently had a duster in their exploration, and the area is in dispute at the moment as it is under occupation. There was also the mysterious 8500bpd producer that no one knew anything about...so still guessing really...
Yes, I believe so. I hope we get re-listed soon. I've been trying to find out what the Morocco asset is, but as we all know, information about Xplorer, Sprint etc is hard to come by online. This is the only related information that's in the RNS of 12th Feb last year: "Since our last update significant progress has been made. Our partner and major shareholder, Sprint Capital, has now identified, agreed exclusivity and is in advanced diligence enquiries with two acquisition targets. The first target offers existing mid-scale production with growth potential and the second target offers significant exploration upside. Both assets are situated within a similar geographical region."
So we are back to one of the original targets. Presumeably with the weak oil price they will have secured a much better deal compared to what they were looking at in the days of Roger Tucker. I wonder what comes next - they surely would have not annouced it if it was only part-done (i.e. there was a need for more funds to be raised??). Does that mean we get a relisting soon? And if so, will the new price factor in the valuation of the Morocco asset? Can anyone remember what it was? operating well? exploration?
Placing of New Shares, Update on Company & Total Voting Rights Xplorer plc (LSE: XPL), the LSE Main Market listed investing company, is pleased to announce that it has raised £99,000 from the placing of 1,237,500 new ordinary shares of 1 pence each ("Ordinary Shares") in the Company at 8 pence per Ordinary Share (the "Placing"). On 18 December 2014, Xplorer announced that it was in discussions regarding a proposed acquisition of oil and gas assets in Africa (the "Proposed Acquisition"). The Proposed Acquisition would be conditional, inter alia, on the Company raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully. The Proposed Acquisition, if exchanged and completed, would constitute a reverse takeover under the Listing Rules. As the Company was unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules, the Company requested a suspension of trading in its shares. Since that announcement the Company has been working to progress the transaction. With the weakness of the oil price, relative to the last five years, continuing, the Company has decided to focus on just one of the assets at this time, located in Morocco. The Company continues to be unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules at this time, and the Company's shares remain suspended. The Company hopes to provide further information shortly. Total Voting Rights As at 4 June 2015, the Company's issued share capital will comprise of 13,612,600 Ordinary Shares (including the 1,237,500 new Ordinary Shares). This figure of 13,612,600 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
There is officially no given time period where the company must make an announcement or remove the suspension. The 6 month figure seems to come up often as under aim rules - aim stocks can be de-listed after 6 months of being suspended. However the regulator can have discretion over this.
Thanks purdy so anytime this month
6 months I believe.
Unbelievable after almost 2 years since flotation, not one investment. I wouldn't be surprised that whenever the next RNS arrives it could be final one.
how long before they must say something ?
no news? tut tut, come on board, sort it out, over 5 months now....
Same hopes! I'm over exposed here. kinda glad that they are resuming the original targets, if that is the case, then the majority of the leg work is already done. The oil recovery is promising, but will it push further? Either way, we need answers soon. The lack of communication is causing no end of worry to all party's involved, apart from the bod of course! fingers crossed. GLA!