Member Info for BigBear2

It’s a big number huge placing so IIs want the discount. Personally thought was a good deal

Dunno why they dragging this out get the placing done so site survey is actioned

Although smaller raises have been at a premium I imagine IIs will want a discount considering the sum involved

As per Asher they need finance to do the site survey expect a placing to fund this then when farmin and or finance is agreed they should be gtg a couple of months later subject to rig availablity

I think JA confirmed any possible farmout for Namibia is months away. IMHO the timing of the interview and rns is to get the sp as high as possible prior to a placing to cover the pre drill work.

Bpc different they had an exclusive agreement and monthly payment

If you have not listened to this do so. Asher makes it clear that they need money now to continue site prep that has effectively stalled. Finance may not come in the timescale needed so that means equity. That’s not me that’s Asher telling you that.

They will be after a free carry and aim to retain something like 20 percent

Interesting it’s states 13 weeks max for a decision clearly ANGS are hoping for sooner than that by liaison in advance with the community.
Considering they have already done a well test and minor revisions requested seem to have been answered in advance you would hope for a swift decision

Jeez are u that desperate for a 10 percent trade ?

Don’t be surprised to see another soon block buying occurring

They don’t need 25 mill usd they need 12.5 mill
They have 4 offers which if they take up it will cover it.
They are simply seeing if there is a better deal or a farmee.

Showing best prospect with 35 percent COS which for a wildcat is very high.

So they need 10.5 mill equity placing personally as the drill is relatively cheap I would say equity may well be the preferred route.
Let’s say for arguments sake placing @ 1.5 p that’s 700 million shares still way less than Ukog or 88e post placement.

By being FULLY funded BCPs hand is strengthened. That’s what HUR did funded their drills.
Yup big dilute but remember they would own the licence in full so any strike would be humongous

Pg 23 may presentation

What about this ‘virgin’ pressure untapped reservoir at Lydsey. It’s immensely frustrating ANGS seem incapable of doing more than one thing at once. Stop plodding along and live share holders a route back from Brockham..

Thanks for the feedback.
To be clear I have no doubts about the quality of leks assets it’s just that there appear to be very substantial future commitments on several fronts and with a modest net bopd to lek at present I very much doubt all will be financed by debt.

Jeez
It’s a simple question lek paid a pretty sum for the increased holding of the licence from afren. Now not only do they get that back they have to pay the entire extension fee.
As the fee pretty much is cash at hand it’s a valid question where are the funds coming from ?

· In September, LEKOIL announced the Ministry of Petroleum Resources had approved the extension of the licence for three years, subject to the holders of the licence paying an extension fee of US$7.5 million by the end of October 2019 which will be funded 100 per cent by LEKOIL.

So plAcing I assume inbound soon?