Member Info for ART123

So on further reading it looks like just a 10 to 1 consolidation - for now anyway.

"SHARE INFORMATION

Number of Existing Ordinary Shares in issue at the Last Practicable Date: 29,534,926,104

Total expected number of New Ordinary Shares in issue following the Capital Reorganisation: 2,953,492,610.

Total expected number of Deferred B Shares in issue following the Capital Reorganisation

2,950,539,117,790

Is this 10 to 1 or 1000 to 1, if anyone can make any sense of the badly worded RNS. 1000 to 1 with 29 million shares after consolidation sounds better rather than 2,934 million which achieves very little. Cheers.

I say shortly but it is 10.30 pm in Australia (NSW time) at the moment and a Friday, so maybe an RNS on Monday or Tuesday of next week.

ATB

Success.

I just got a call back from Piers Shimwell at Allenby Capital, which was unexpected as I had almost been rude on the phone to his receptionist earlier and had not even left a contact number.

While initially referring me back to the last RNS dated 10th January, I then referred him to the posts on this board, which he accessed while still on the call and brought up the relevant filings which he seemed to be unaware of.

So I have requested official confirmation of the Appeal, plus the reasons for this change of plan, etc, etc. and we should hopefully get a fairly decent RNS from CPX shortly.

Yes, and I bought in here on the first day of dealing - I just checked and it was 24/5/2018 - at 2.84p..............

I have spoken to someone at the Joint Brokers - Cavendish Capital Markets Limited - with the request for Cap-xx management to confirm that an appeal has been lodged. You never know.

I also emailed the company via their website but that doesn't usually lead to much.

ATB

Newuncle - good idea - in theory.

I called Kreab (Financial PR) Robert Speed - but the call just cut off after 37 seconds while I was waiting - twice!

Then I called Allenby Capital (Nominated Adviser and Joint Broker) and asked to speak to David Hart / Piers Shimwell or Tony Quirke / Stefano Aquilino. I got the usual unhelpful receptionist, who after asking the usual questions put me on hold only to tell me that no one was available. On further questioning, I was told that some were on holiday - in January? - to which I replied "oh, yes, probably skiing in the Alps". After a further time on hold, I was again informed that no one was at their desks.

Good in theory!!

Yes, don't be stupid, I know that it is not a rumour but the management has not informed the market that they have lodged an appeal so the only way that I and other shareholders have found out about this is via this board but not all CPX shareholders read this board so the chances are that most of them do not have this information. Therefore it seems to me that the board should issue this information via an official RNS and then all CPX shareholders will know what is going on.

Are they not obliged to issue an RNS to inform the market and shareholders that they have lodged an appeal in the v's Maxwell patent infringement case? We only know about this from posts on this board. Surely this is price-sensitive information. Has anyone emailed them about this to request confirmation of the 'rumours'?

Not too sure what the posts here will say if the flow rates come out as poor - ie. not very good.

No doubt it won't be seen as a problem as the next drills will without doubt hit the motherload!!

"OK, here's a couple of points as to why the initial volumetric estimate in the iTR is lower than some of our expectations:"

Well, at least we agree on something. I thought I might just get filtered (as always happened to me every time I posted at COPL).

Paul Griffiths, Executive Chairman of Predator, commented:

"Ireland has taken us by surprise. We remain cautiously optimistic that we potentially have a partner for Corrib South in the event a successor authorisation is awarded."

How exciting is that!!!

I always thought this was about Tcf's rather than Bcf's (1000 Bcf's being 1 Tcf).

Sound Energy's estimated volumes for their Tendrada and Meridja permit areas in Morocco was a whopping 17 Tcf's but all we are talking about here is between 139.67 and 312.16 BCF - not even close to 1 Tcf.

Sorry, it posted itself before it was finished. Blame my manic typing speed!!

How can this go wrong? Let's hope it is all finalised by the end of January as promised.

By the way, does anyone know what sort of 'past costs' are involved here?

18 December 2023: Cambay Farm Out

In exchange for the transfer of a 50% working interest in the Cambay PSC, the Farminee would carry Synergia for the full cost of the agreed work programme which is to focus on the Eocene gas reservoir and which is to be completed within 12 months from the date of the GoI approval. The Cambay field would be under joint operatorship by Synergia and the Farminee, with the Farminee acting as lead operator. A lump sum payment would be made by the Farminee after GoI approval of the working interest transfer, in recognition of past costs. It should be noted that completion may also be subject to regulatory approvals (as applicable).

How can this go wrong. Let's hope it is all finalised by the end of

Only 8% down on the day compared to 18% down earlier. Blue day yet??

I can see that it is obvious that Roland is aware that he is constantly p*ssing off shareholders and no doubt he gets lots of emails from LTH's expressing their concern at the missed deadlines and dilution, etc. so why would he risk further alienating himself from these shareholders by giving out a deadline for the finalising of the farm-out if he didn't believe that it could be met. Surely, if there was any doubt, he would have just not said anything.

I disagree. They have to have an available authorisation and there is an opportunity to get it done at the forthcoming GM, rather than have to call a special GM at some stage before the next AGM.

Mind you, I might be looking at this a bit differently than the average LTH, who has probably been here for years and years and is totally underwater as the current share price appears to be just about an all-time low. I am just here for the short-term trade and profit which should accompany the finalisation of the farm-in/out so I don't really care what may happen months and months down the line.

ATB

As it stands today there is far more of a chance of the farm-in/out being finalised with news of the 'ambitious work programme' and the size of the 'lumpsum payment in recognition of past costs' before the end of the month, than there is a chance of a placing by then.

There may be no requirement to raise any funds for another 6 months for all we know and for all they know so for the share price to drop today in fear of a raise (just because they need to authorise to issue more shares} is all a bit silly.