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I suppose that would depend A1 on whether Shell take up the P2347 licence and what the timescales/work programs are. By my reckoning clnr could have around £1.8m in the bank at present with a monthly cash burn of around £120k (from the interims). Why £8m?

Didn’t they say the DFS would be published later this year? Not imminently.

I’m still wondering how Clnr would sell a £15/20m fund raise to investors bearing in mind no drill decision will be made forv18/24 months of at all !! How near is imminent?

Ok then point 1, no I don’t think there will be market interest as I don’t know how clnr can sell a fund raise on an undecided outcome of 400km2 of seismic, processing of that and historical seismic along with sub surface studies when the partner is paying for it. I also never said clnr didn’t want to raise funds you’re twisting it now. I said they didn’t need to raise funds as a decision by their farm in partner hasn’t been made. Point 2, I never said there would be no market interest until after the drill due to the points mentioned above plus the P2437 option and O&G decision. Point 3 see previous post.

So could you now tell me how would they sell a £15/20m fundraise 18/24 months before it maybe needed to save me the time of trawling through all your posts?

You are confusing yourself and me now A1.

1, No I never said that at all.
2, No I never said that either.
3, They raised more funds due to the 30th round of licence awards, just like what they’ll do with the Shell decision they’ll raise funds when they know the outcome. When they stated the original funds would last them until Q4 they didn’t know the licences outcome.

So to clarify your statement that they will raise £15/20m imminently could you explain how they will sell that to investors?

Also I don’t understand your last question:

“You believe there is currently a high enough demand in the market for that level of investment in CLNR?”

No I don’t, you believe that not me. After a drill decision then possibly yes, presently, no.

I’d like your opinion on how clnr will sell a £15/20m fundraise to investors imminently?

They need working capital!!!

Now how will clnr sell a maybe to investors to raise £15/20m

They raised funds because they needed to pay for their share after a decision to drill was made, Clnr don’t need to pay for their share yet because a decision to drill hasn’t been made. (I can keep repeating this) There’s a big difference, Shell are paying upto that decision so why do clnr need to raise those funds now and how will they sell it to investors ? With jog they knew what they were investing in because the decision had been made.

This is what these boards are for Doberman, this should help in your research if discussed properly. If A1’s opinion is that a massively highly dilutive placement is imminent that’s his call, right or wrong it’s upto others to try and disprove that. If he supply’s more info rather than ‘because they can’ maybe that can be done. Personally I think they have enough funds to see them through at the moment, we’ll find out at results time or sooner.

Not really A1, it’s simple, I don’t believe ‘because they can’ as a reason to fundraise due to the Shell interest. I cant see how they can sell a very highly dilutive fundraise now on something that may or may not happen in 2 years time.

After the decision to drill as they needed the funds for their share, clnr don’t need those funds because Shell haven’t made a decision to drill yet and won’t for some time. I very much doubt clnr could sell a £15/20m fundraise on something that may or may not happen a year down the line. Clnr could also still have as much as £1.8m still in the bank to see them through for a while yet.

Yes, raised post farmout and not drilling but also raised after a decision to drill had been made. Shells decision to drill won’t be for some time and any drilling won’t happen until sometime after that. That’s when clnr will need to raise to pay for their share, not now.

Didn’t they raise after a decision to drill was made?

So I can, hence why if they do raise they’ll only raise a smaller amounts not £15/20m just like last time.

They never raised at those prices because they never had anything set up ready and they wouldn’t be able to sell it to anyone anyway. The point been regardless of that, why would they raise the amount you state now when they don’t even know that they’ll need it?

To get a funding round away on a spike I presume they would have to have it all signed up, how would they know what price the sp would be if they got the licences awarded? How would they sell that to the placees?

*shell deal* damn you fat fingers.

I get your point but to take advantage of the interest around the Shell desk wouldn’t you of thought they would of then raised at 4p and not wait until it dropped to 2p. I don’t think they could raise that sort of funds on the back of a deal that hasn’t and won’t for some time be decided on whether to drill , if at all.

I can’t see it myself A1, they don’t need that sort of money yet. I think it’ll be more hand to mouth until a drill decision from shell which won’t be anytime soon due to the work program stated. The jump up on Friday could just of been tech traders bouncing off the double bottom mark.