Member Info for Bridgedogg1

Sorry seen it on the website.

“Share Buy Back in 2024 at NAV

The Company has announced that it will purchase up to 857M of its ordinary shares in a tender offer at an amount equal to the net asset value of the Company per share.”

So the price will be the proceeds less tax liability for 85% of your shares!?!

Is the intension to sell all the crypto and do the buyback using the proceeds less the tax liability which would leave a cash shell with no assets or is it a partial buy back leaving some cash for future investment?

“The size of this taxation liability will depend on the size of the buy back which has not yet been determined. However, the Company can advise that it anticipates the taxation impact to be in the range of 0.7p to 1.1p per share.“

Also the testing kit includes the one-off testing module. How is that included in the annual income estimate? Is it provided for free?

Also…

Target 10kbopd in 3 years, mcap £62m

I3e currently produces 21kbood, mcap £140m

On that basis this doesn’t look over valued. Is it just the higher net backs, I haven’t checked but assume they are higher?

Genuine questions from potential investor

I’m confused, he said there’s $12m in the bank, $2.5m generates monthly and the total cost for the drilling campaign is $45m which is funded from cash and cash flow? Seems well short? What am I missing?

Silverfoil

Thought this was a joke but then realised £2.30 is mcap of £184m so not outside the realms of possibility.

- Confirm RF is gone

- Exoected good data from SDC-1801

- start hitting SRA737 milestones / royalties

- partnership deal

“Additional payments to the aggregate amount of up to US$289 million may become payable to CPF under the Licensing Agreement, subject to achievement of certain development, regulatory and commercial milestones which may or may not be achieved. The Licensee Company will also pay tiered high single digit royalties to CPF on the net sales of any product successfully developed and commercialised.

Under the terms of Sareum's co-development agreements with CPF and Cancer Research Technology Ltd, Sareum is entitled to receive 27.5% of any income arising from this licensing of the SRA737 programme.”

It’s the post hype from the preclinical and patent granting events to the reality of costly and slow trials. Rather than taking £2m from RF at 80p we should have raised £20m or got a partner.

The sharp decline in share price since January must be in part attributed to RH selling. In total they had around 5% so not huge amounts and may well all be sold, or close to sold. Majority of RF shares were issued at over 80p i can’t believe they have been holding on to them as this has been dropping. Yes it would be good to know if they have any left.

I also note the below. Do they lose 10% then on disposals?

During the Term of the Facility, RiverFort may from time to time, to settle the amounts drawn and outstanding with respect to the deposits, interest, default interest and/or any fees specified, elect to dispose of the Initial Placing Shares and any subsequently issued Placing Shares. The amount outstanding under the Facility deemed to be redeemed by such disposals will be equivalent to the number of ordinary shares disposed of multiplied by the lower of: (a) the lower of 130% of the Reference Price applicable to the relevant deposit, and the price at which the Company has issued any Shares in an equity fundraising whilst any balance is outstanding (if the placing price for such equity fundraising is below the Reference Price) (the "Fixed Premium Placing Price"); or (b) 10% discount to the average of the lowest 4 daily VWAPs in the 15 trading days preceding each relevant subscription notice (the "Adjusted Placing Price") (together, the "Placing Subscription Price").

Emailed a few days ago and no response. Wanted to find out how much a well costs. We were making a very small profit before the increase in production from by 70bopd for the Fouke Wells 32% to NTOG is £2000 per day, which is approx £180k additional since Jan. That means with have approx £500k to drill a well??

I don't fullly understand it but does this apply? Are there any amounts outstanding if we have issued shares for the principal amounts? - Principle amounts do not include un-drawn facility.

I also dont see anything that prevents us from drawing down additional amounts?

The funny thing is they telegraphed a placing which killed the share-price and then drew down just £250k from the existing facility. Very poor communication to half the value of the company for no reason. Provided a nice entry point for myself so Im not complaining.

Some really strange people on here doing the 'I told you so' on a 25% drop when it rose 100% over 2 days.

Oueff yes you are right. 1.7m warrants at 10p so 2.5% of shares.

Not a huge amount and at least the monies go into our coffers- £170k.

As much as I hate RF I really hope they do get to exercise their warrants:

"RiverFort will be granted 879,094 warrants at the time of the First Deposit, exercisable at 143.33 pence each."

Nice work if you can get it. No results required!

3 Aug 2023 07:00 £2 million @ 102.3781p 1.9m shares 2.7% dilution

3 month Anniversary 3 Nov 2023 £0.3m 83p 361k shares = 0.5% dilution

6 month Anniversary 3 Feb 2024 £0.3m @20p(?) 1.5m shares = 2% dilution

(Not drawn) 6-month anniversary 3 Feb 2024 of up to £1.4 million @ 20p 7m shares = 10% dilution

The maximum amount deposited and outstanding being not greater than 10% of the market capitalisation of the Company at the time of the deposit so we couldnt drawn down the £1.4m - thankfully - raising £300k at in Feb generated almost the same number of shares as £2m in August last year which now looks like a great deal. If the mcap exceeded £12m then the rest can be drawn down but hopefully it will go to more sticky shareholder hands.

Considering the above its not unreasonable to think that RF is out or mostly out. The 500k sales at close yesterday my be them getting out before the placing shares hit the market.

All I m hearing is funding is required, tell us how it’s going to be met!

Timelines are further out than expected as well.

However, this will be huge

With the funding sorted for now and constant buying why doesn’t the ASK move up?

Clearly no one could progress deals with company that had no cash and under litigation, now that’s cleared the business pipeline comes back online.

Is it safe to assume the buyer at approx 800k chunks is the sane person/entity and maybe they know something we don’t?