Member Info for BarkingCrazy

My bet is they will wait till after AGM to release results so that they don't have to answer any awkward question about just how much cash they have managed to burn in the last 12 months. Being DS iwould think a late or even after close posting on Friday.

I think your mistaken if you think 103C is a relatively cheap work over. Firstly the rig has to be higher spec than last one. It will almost certainly need a sidetrack at lower levels as so much mud had to be put down well to control pressures. Also not worth getting rig in just for 103C whilst there might as well do 104 and of course mob cost are normally a mill or two. So all that together is going to cost in excess of $10mill.

So we are told a rig is available late summer, pretty open ended but better than saying a specific date that we miss. Where is this rig coming from as can't see SMP wanting to do business with AAOG again and any other rig owner is probably going to want a substaintial down payment.
So if we get a rig to enter 103C it's going to need to be of a spec that can cope this time and presumably stay on site for 104, thats going to cost alot more money than we have so some for on financing or JV has to happen before this starts.
It is imperative that the company releases information in an RNS and at the AGM to stop this constant drop in SP. Poor communications, missed deadlines and uncertainy is killing us and if 20p a share bid was on the table now, I'd take it as I just see this daily torture going on for months.

And there it is, 10 mins late.!!

Hanging on

So what time do we turn red today, 08.28 my guess.

Oh no not another timeline, October. Bet that drifts into 2020.

I think we can safely assume if DS is doing a presentation then the SP will fall.

Not sure what to make of that drop. RNS was released @ 11.41 but the sharp drop didn't start for at least an hour later. Appointment of joint broker may have been viewed by some as preparation for a placing however the reason for the situation has only risen due to a broker takeover.
If there is a placing in the offing then the recent rise has been engineered to get the best price and one could assume placing would be around 5p. If this is the case then we need some concrete news to go with the placing and not just a keep the lights on version.

Blimey thought my PC was broken as SP was level but panic over were red now, back to normal.

I heard the $50mill rumour some weeks ago but thought nothing of it as it would only represent about 20p a share. At the time our SP was nearer 10p so only a 100% premium. However with the SP now below 7p were looking at nearer a 200% uplift, maybe the share is being shorted to make a low ball offer attractive.
Personally anything 30p or above I would take it now despite the asset being worth so much more, my reason is lifes too short and the pace things move with this company I'll be pushing around a zimmer frame wearing inconty pads before true value is reached.
I did ask Tiptop to make an enquiry early in the week re rumour as it seems to have got more exposure now. Could always confront Board at AGM I suppose.

Tiburn, perhaps you should get a position on the BOD as you seem to have a better idea of whats going on and whats needed.

Tiptop - next time you contact either DS or JB can you ask if it's true that there was a $50mill bid for the company.

Yesterdays meagre gain wiped out already, deep joy!!

2 x 500K looks like a rollover, price would have risen at that time if those were buys.

Please let it be the real thing this time, not sure i could stand another kick in the proverbials.

Momentum certainly picking up here, just get the feeling we are getting close.

If things carry on the way they are Sefton had better hire extra security for the AGM. Maybe worth his while to wear a full metal jacket as well.
Come on Iceburg, Tiptop get the troops on parade.

Dividends after capital expenditure requirements may start at some stage for us?

Yep that will be after money raised for 103C re entry, then paying off debts to avoid being sued, then upgrading topside infrastructure and then drilling 104 /105/ 106 /107.
So sometime in 5 years minimum and even then they may decide a share buy back to reduce number in circulation as sure as eggs is eggs there will be a lot more sloshing about by then.

Where is he, no sight since RNS, no comment!