I agree Reggie. I think if OilLR has made the deposit there would have been an announcement by now. As you say, if JA is finding a way to fund this without third parties that could well be a big game changer.
We shall see!
I agree JamesII
I will not be surprised if the loan comes as a result of the Shard connection. Shard Capital Partners LLP (SCP) has £1.1bn of assets under management according to its website and the two directors of Shard Merchant Capital Ltd which provided the short term loan are the Designated Members of SCP according to its filed accounts.
DYOR though :-)
Doh, my mistake, I put it round the wrong way, it’s the advancing years effect I expect :-) Of course I meant fusion, as fission is what we have now. I should know better living as I do half way between Harwell and Culham!
Hi Willowman, well I am only two chapters in so far but, if he is right, he busts some theories presently held by the “climate catastrophe” supporters.
I get a lot of stick from my green mate about him because he promotes nuclear, however I too think nuclear plays a part in future energy. I hope that will in future be fission not fusion though.
I think the book will be worth a read, if for nothing else, to get a view which is alternative to “we will all be gone in 50 years”. He is doubtless going to upset supporters of that extinction theory. Maybe I can add more when I have read all of it.
I agree, £30k is small beer, especially compared to what Asher has at stake in TRP. (Loan of $750k plus his shares).
In the absence of other takers you may be right AO about better the devil you know.
It will be interesting to hear Jim’s take on all this, I am a bit surprised that so far he has not commented.
I agree with you on all counts AO. It is also shocking I think that existing holders were not invited to subscribe at 0.75p.
I read elsewhere some time ago that this company is a “lifestyle” for the directors. I was minded to regard that as sour grapes from an investor who lost money on it, however I now tend towards the same view.
Luckily my loss as of today is small and only irritating rather than life changing and I will put the shares in the “bottom drawer”, others may not be so lucky and I feel for them.
Looney makes me ashamed to admit I worked in bp for nearly twenty years. He reminds me of Brian Smith (ex ICI) who came to Metal Box plc in the 80’s declaring that the age of the metal container was over and we were to become a plastics company. Within 3 or 4 years MB was dead. By the way the metal container is still going strong, as will oil for many years. Oh and Looney has presently lost me 12% on bp shares I bought after the oil price crash.
Currently I am reading Shellenberger’s book Apocalypse Not. I recommend it, interesting light is thrown in some “givens” such as paper bags over plastic, deforestation in the Amazon etc, etc.
Looks like you were right IOG. It is not really surprising though is it? According to the figures in the PG report, the cash would seem to be running out, perhaps by December and no word from the BoD on how they will raise funds. Once that is addressed publicly there will be more confidence that there is a future for company. For my part I remain invested but everyone must do their own research.
I also noted the lack of reference to OilLR Brig.
It would of course benefit shareholders immensely to keep 100% of the reserves but I struggle to see who would lend $15m on this kind of risk without a slice of the action, unless of course it is at a high rate of interest which reflects that risk. I am sure that JA would like to find a way of not diluting if he can.