Member Info for berniemadoff

rns out, $500k funding for collaboration project

Darwin drawdown, and they're out

They haven't said whether it's Offshore or onshore but any JV with the ex state oil company will be transformational. Think ukog teaming up with British Gas

If you look at the recent rns' you will find that the rumours of a JV deal that you mention have plenty of substance. They are no longer rumours :)

I'm too smart to claim any such thing ;)

Should read they will need to raise two a half to three million quid

it's been rumoured that a discounted placing will happen and it will be circa 0.8p. Might be slightly lower or slightly higher but I'm sure it will be discounted. It's also been rumoured that they will be raising approx £2.5 to £3m so that would entail an additional 375m shares or thereabouts. Anyone who thinks these assets don't need a lot of cash pumping into them is simply deluded, in fact that's exactly why DW has got them on the cheap. With that many shares in issue I'd expect to get in close to the placing price as the flippers offload for their stock 5-10%.

I'm not saying there will be a 0.8p placing but what I can safely say is that it will be discounted. I'll look to get in then

nice to know we're almost reading off the same page with regards to length of suspension. the same people saying this are the very people who are calling a discounted placing

and if i remember rightly you were posting on here and Twitter that a JV was about to be announced? !!

it was imminent mate, and the only thing that got in the way was the authorities changed the procedure for farmouts to make the process more transparent. i've posted the history of it on the relevant board if you'd like to read it. so has Helpful, in fact he has been the source of a lot of info. there is not going to be a premium placing here, trust me mate. it might not be the news you want to hear if you're one of those who whacked five figure sums in here on the day of the suspension, but that's what i've heard on the rumour mill as well as the fact that it will likely remain in suspension for several months.

wait and see mate, just wait and see. all will be revealed in a few months time

the share is suspended. whatever i post can have no impact on the sp up or down. i'm just saying what i've heard and i'm sure a few others on here have heard the same. this is likely to be suspended for a long time imho and like it or not there will be a placing, i would be lying if i said it will be £2-3m @ 0.8p but that's what the rumour mill is saying.

sorry to be pedantic but its actually "piqued", anyway pricked is perfectly ok too. thanks for the attempted english lesson though

i may be interested to dive in here once the suspension is lifted. i reckon there's going to be a 0.8p placing or thereabouts but that the suspension will run on for some months while they run the bureaucratic gauntlet to get the assets. i'm guessing at least Feb if not March so lots of time to prepare. DW will probably need to raise around £2-3m imho

We will have a decent day tomorrow as buyers return for a possible Monday rns. We know a deal is very close and it could be transformational for this company.

News due, plenty of upside and from this level limited downside

Who bought today and doesn't want to sell at market price and be too much out of pocket should call their broker and ask for the procedure to accept the company's share buy back offer of 0.6p. It's pretty straightforward with TD Direct and you have until 10 Nov to accept. You're guaranteed to get that price. In fact I bet that the buy back funds will come from the funding they announced today. Phew, that was heavy close one!!

i phoned the company to ask that a few minutes ago and was told the two things are unrelated. they are continuing with the delisting, they need the money for expenses. however the current offer is 0,58 so if you bought now and accepted the company's share buy back offer of 0.6 per share you will be in profit!

to jump in! bought a grand's worth at 0.58. havent lost anything as the company's main shareholder is buying back shares at 0.6p