According to TD on PMO Webcast the extra wells brings forward the break-even date for the field and improves the overall economics of Sea Lion phase 1, which together with the increased reserve figure of 250 mmbl will be much more attractive to lenders.
All three (Thomas Grant, JIM and Gledhow) sold to below 3% to obtain around 43% profit on their placing prices of 0.063 p / sh. - so that is a good reason to me to sell. I would think they have also sold their remaining stock at a somewhat reduced profit - 35 -38 % perhaps. It will be interesting to see if any TR1s arise from buyers at over 3% or these have simply been taken up by PIs.
Just one of the placees from 4/9th July exiting with a nearly 43% profit; they were just providing the £100k to keep RLD ticking over until the deal can be done with FURA. We should see another TR1 on Thursday.
RE: A compelling investment... (IV)16 Aug 2019 10:13
What you fail to mention is that the GBP409,200 (not including expenses) ASTOR Management AG loan has to be paid from the consideration shares issued by FURA. You can't just add up the money coming in and forget about the debt and expenses!
What is certain is that anyone selling this now is either desperate, stupid or desperately stupid! The short term news flow is just stacked up waiting to drop in the next few weeks.