The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I take it all back!!
When the company made the accouncement in October that they expected to announce news in the next few weeks, I had assumed that there was a deal agreed and they were in the legal stage at that point. The management team are surely experienced enought to know how long it takes to go throught the negotiation and legal process when putting a facility in place. The management team have a bad track record when it comes to delivering on the information that they include in their updates and that's what worries me in this instance. If it's bad news re refinancing then this share will fall like a stone towards the 2p mark or even below.
Agree, i think it might be time to cut losses here. It's obvious that they must be having trouble securing refinance with either Macquarie or another financial institution. Anyone know if they've ever had any luck getting any feedback from the company by contacting them?
I'm getting a bit worried at the lack of news. Management team still haven't learnt from their mistakes. promising news within weeks and that was almost two months ago! The price will head south soon if the silence continues this week.
So how is the company going to pay the £12.7m maturing next year? Only onw way and that is by a share issue which means at this level a massive dilution of the share price in order to raise the necessary funds to fulfill their debt obligations. It may not go bust but this share price is going to be massively diluted over the coming months and anyone who thinks that 10p is in sight in the next 12-18 months could be in for a big shock.
This share is done. All over I'm afraid. They have debts they can't repay, oil they can't get out of the ground and a managment team who have sat idly by in the last 2 years and watched over the company tumble. Receivership incoming.
Wishful thinking I'm afriad. Seen alot bigger buys than that and the SP hasn't budged. 2p incoming..
Bad news I'd imagine at this stage..
There's loads of black stuff of coming from this company but it isn't oil unfortunately!
If I had a dollar for every time someone had thought this share had bottomed out then I'd have enough to cover my losses on this share!!
Yikes the slide on this share price continues. Monkeys couldn't have managed this company any worse than the current management team..
Share Price up around the dizzy heights of 4.40p!
Same here. And that's where the problem lies. How are investors supposed to be attracted to this share when the management team have driven it to the brink..
3p incoming?
How low will it go or is there a takeover in the pipeline at a cheap level?
There is no bottom here. the company's running out of cash. Any funds that are coming in is being used to service the outstanding debt which leave no capital for infrastructure and hence why the oil is still in the ground and they can't get it out. Unless a farm out has been agreed the company is goosed. Going by the share price it would seem that there has been no breakthrough on this. Lost big time on this share but have to take the loss here because this could go below 2 or 3 p yet. Management have been terrible the last 2 years and shareholders are paying for it.
This share is done.. Can't get the oil out of the ground, bad management and running out of cash. Cut losses and get out while ye still can..
If the next runs are bad - pack it in. Cash will soon be running out too if they don't get a farm out soon..