Member Info for BigBear2

Due tomorrow

Mike as I said IMHO Asher played a blinder in the last placing to get it away at that price.
He could as a further show of good faith taken options in Lieu of salary at the placing price. Would of just helped with sentiment.
That being said looks like farm in still going well will just be later than expected which is understandable with the Coronavirus

Surprised at this options should have been done at premium ideally last placing

To be clear I don’t have a position but whenever I see this it usually means pis get jak. In the current situation I think we all need to preserve whatever we can

It’s the key point

the Board will be required to take action to protect the interests of creditors and which, if necessary, is likely to result in a material reduction in any resulting value attributable to shareholders.

Creditors want the lot. Seen this time and time again
I got wiped in same way on bellevue mining.
Disgrace

Remember TLW will not receive 900 mill they will get 100 mill cash and the rest is used to offset their share of costs going forward....

Until planes are back in the sky we (and the rest of the oil industry) will trade at a fraction of fair value. I don’t see commercial flights happened on mass for min 3 months so with a glut of oil not looking great.
Let’s see where we are at when Brent hits 20

To restore confidence in credibility where is the cash?

Be nice but it’s death by 1000 cuts

Brent under 29 until the Russians Nd Saudis stop messing around and planes back in the air can’t see any reason for Poo to go up

We just need one positive thing that is material so far it’s just a load of blab from Dorothy that things are looking a lot better and TLW Is more fit for purpose.

For some reason the mkt seems determined to decimate tlw more than PMO despite a lower break even.

Is sub 30. Needs to bottom out before we stabilise. New CEO and or initial asset divestment would help A LOT.
I reckon Brent Bottoms around 25

Suspend dividend
Let’s see if the ass holes wipe 70 percent of mkt cap

I agree my beef with Dorothy is she is so determined not to overstate as per previous mistakes her delivery is borderline depressing.
That being said I was very Impressed with the steps being to stabilise the business.
The press and the market has chosen to focus on the going concern comment she was obliged to put in. PMO would have to do the same if they had reported at the same time in fact they are more exposed due to higher break even.
I have no doubt over the next few days we will see Brent fluctuations possibly below 30. At that point I plan to double my holding.
GL all

In fact I would go as far to say part of the 1 billion generation (funny how or exactly matches heaveys budget) will in large be filled by Heavey farming in. Fits perfectly with his mission statement

Mike IMHO Asher has played an absolute blinder here
To has secured a placing @ higher than the last one in this environment is nothing short of staggering.
Sure does focus people when they have their own coin on the line...

Much as I would love this ain’t gonna happen
He has 1 billion to essentially farm in to producing assets so would not take on tlw debt.
Far more likely is he takes a slice of some of our assets as a farm in as per RNS we want no more than 30 percent on all projects

Cannot understand why mkt thinks PMO is in better shape than Tlw