Member Info for Bridgedogg1

I had to get out while the dust clears over the end of the orderly market provision on the first tranche of Tellurian shares (£3m) They may have already been sold but didn’t want to take the risk, I do g think this can take much more share dumping, luckily good timing on the well progress is soaking up the volume.

Q3 update:
in order for the Group to transfer excess from the securitisation group to Dignity plc, it must achieve both a higher EBITDA to total debt service ratio of 1.85 times and achieve a Free Cash Flow to total debt service (a defined term in the securitisation documentation) of at least 1.4 times. This latter ratio at September 2019 was 1.52 times

Transformation Plan costs
Given the on-going transformation of the Group’s business will result in significant, directly attributable non-recurring costs over the period of the Transformation Plan, these amounts are excluded from the Group’s underlying profit measures and treated as a non-underlying item.

These costs will include, but are not limited to:

external advisers’ fees;
directly attributable internal costs, including staff costs wholly related to the Transformation (such as the Transformation Director and project management office);
costs relating to any property openings, closures or relocations;
rebranding costs;
speculative marketing costs; and
redundancy costs.

following the appointment of Clive Whiley as Chairman, the Board is also reviewing its current strategy in the context of the current challenges within the industry.

Operating performance in 2020 will rely heavily on the number of deaths, which may or may not revert to higher levels

pbodym I think you raise a good point. I dont think this is the case any longer. 88e was formed from another entity to explore and prove up the unconventional prospect in the HRZ. The sale of HRZ would have = sale of 88e. This didn't work out.
Now we have our fingers in a number of pies and sale of any one of them still leaves a company with prospects to explore and assets to prove up (and dare I say - salaries to pay).
It unlikely IMO that the same company would want say the conventional prosepcts following good flow rates AND the HRZ asset (or would apply any value to it) and visa versa. Therefore projects will be farmed out and sold off piecemeal, if at all.

Thanks Noheartss!

Are you able to expand on the debt covenants. I read that there was some kind of ration and they were getting close to it (1.5?) but I couldn't find the actual debt it related to in terms of maintenance payments and outstanding value.

Positive news flow on CFO and cash flow expected. I don't see 310 funding RNS for sometime considering the timelines were moved out from Feb to July. Perhaps April at the earliest for finalisation, however we might get an RNS giving indications of talks. Upwards from here.

I got a response from Lek re CFO - candidate identified and appointment being finalised. Announcement made once appointment complete.

Financials - worsening year on year
Competition - co-op price war
Digital disruption - not prepared
Business model - based on 5% premium increase year on year which is no longer possible due to above
Regulation - tightening - cost will increase
Business transformation - nothing tangible happening
Interim Dividend - suspended
Certainly wouldn’t buy here

Sorry that applies to The Tellurian shares

Tellurian's dealing in UKOG consideration shares is to be subject to a 6-month orderly market provision.

Can anyone confirm whether the remaining YA Riverfort shares are subject to the current restrictions on volume. Seems that this orderly market provision expires on 7 Feb

If the share issue is sorted the 'Concert Party' will get 64,035,976 shares at 1p per share. I expect it will get sorted as they have forward sold shares at 26p and can now buy them back at a much lower price to meet the terms of the lock in. The new shares will then have an instantaneous return on their investment (from PI's pockets). However there is nothing in the agreement that requires them to add any assets to the company or any deals in the companies favour. Do yuo think, judged on their behaviour so far that this is all above board?

Woah - they pulled it up today to get those huge sells through at 0.7p? 1 step foprward...

Seems like they are over charging and they cant make any money out of it
Are these financials likely to improve? Will the dividend be reinstated?
Seriously considering short on this.

Appreciate that Meadow but don't you think the most recent update indicated something in the near term. Local operator willing to drill and pay most of the costs for a chunk of the asset?

Up 14% then down 10%. Looks like we are stuck in this range, with the odd breakout, until news. I’m holding but good money to be made trading if you can keep an eye on it.

You might miss out on 50% waiting for 5% cheaper imo

Next update will just be ice road construction progress?

Not sure why everyone has such high hopes for the next update being very soon. It’s just going to be progress on ice road construction? Unlikely to impact share price.

I've never shorted before but I'm watching BPC with interest. Wildcat drill with loads of momentum behind it - reminds me a bit of FOGL. I wonder if peeps have been selling up here to move over there.

Theoretically no one loses out on the consolidation AND we knew they were going to be raising cash.

Not seeing any update to the asset sale rumour. Usual twitter guff no doubt.

Excited to find out what is happening with the financing and an update re all the bundles of cash coming in.

The lack of announcement re new CFO is very strange considering its on the guys linkedin profile. Surprised they havent either made the announcement or asked him to remove the LinkedIn role.