Member Info for BigBear2

What a disgrace. Like many I lost a fortune here. Bailed @6p with a few k left from my original investment, but what's transpired since is an absolute scam. To be fair some bloke on iii predicted exactly how this would play out. The assets will now we sold off, shareholders left with nowt and the bondholders and other creditors no doubt coming out OK from the firesale. I would still love to know the details of the Seplat offer that was rebuffed.

Sub 1.2 looking very attractive entry here...

Now that the 6p offer has passed what happens to holders who did not accept, or those that buy in now?

If I am reading. The report correctly annual. Cash burn is 4 mill and the abandonment costs similar so by year end the strong cash position will be sweet fa.

The wort farm out ever...

Clear this is primed for a nice rise..

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I posted on ALBA the wisdom of taking a sensible position when there is transformational news in the near term future pending. Take a look at the intra year high here, read the latest RNS....

Took a position here today. The opportunity to get in just below the recent placing with the upcoming campaign seems v good value..

I would expect to see some stops taken out on that p8ss take..

Agreed that showed them to be clowns, or at least their offer to be pure fairytale. But the rise on SEPLAT today in unison with AFR leads me to think they may not be quite out of the picture.

2 for 1 seems quite feasible and I would imagine given the financial situation at afren would be accepted. Would create a Nigerian mega-company..

Garyn issue with seplat is lack of shares in free float. Hence issuing a nice chunk of new shares for afren could be part of a cunning plan for the larger entry to be FTSE listed. Based on the sp movement of both companies looks like the mms don't know how this is going to go....

Yup but not likely to be cash only. Cash and share swap I reckon....

Mm mm.. Was taking a look at available cash here looks like sept at have around $ 900 mill cash at hand (inc bank facilities for new investment) afren current market cap is around $ 400 mill, so it would seem this is defo feasible. The question is will seplat g for straight cash or a merger via shares to increase the free float and allow fise entry?

interesting wording...

read in the press that the Brent price would hit Nigerian fields the hardest any thoughts?

Sound oil seriously are they having a laugh?

wow. they are actually doing something interesting. Hopefully they can do their sums on the funding. Placing required I would imagine though?

Its no secret Alex is well connected in Russia I guess, but the real question is when will production start to make a dent in the debt ? Also what's the deal with the gas/condensate play, when's that coming back on line ?