Member Info for Bridgedogg1

"Tern holds a total of 4,106,666* shares in Wyld Networks, which represents approximately 19.9%* of Wyld Networks' enlarged issued share capital."

* Pursuant to Tern's funding facility announced on 12 June 2023, under which £307,692 is currently drawn down, Tern is required to maintain in escrow shares in Wyld at a value of not less than 1.5 times the value of outstanding amounts drawn down and accrued interest, as security for the Facility.

So Current mcap of £3.24m @ 19% = £615k

Must maintain £460k

Wyld is focused on as one of our main holdings but with £307k debt our position in Wyld is currently worth approx. £300k.

Tern current mcap £9m..

Must be some background sells. About to surge now.

Glad to see this has risen. Personally didnt like the last update but luckily the market didnt feel the same way.

I didnt realise there was a queue for that kind of thing, I thought it was based on positive news flow, of which there is very little?

If there is a queue it looks like its for the exit.

Yes, if Char could quickly farm out the new acreage on a free carry and get cash that would be amazing. Actually unbelievable. Why wouldnt the partner we farm in with have just picked up the block themselves. They would have been infront of us in the queue if they could fund it, which we cant.

Take a look at 88E announcement, they received 20% in a block by paying for 2D seismic. I expect we will be farming in in a similar way with $2m spend, rather than securing a whole new block for ourselves in the worlds current hottest oil postcode.

On what basis would we get a bank loan to drill a well that is not certain and will not be providing revenue? Someone would certainly lose their job!

Why would another company help Char buy into a licence so it can farm into it on terms, which I assume you assume will be beneficial to char? We certainly cant afford to fund any kind of work program or well, we'd be a lame duck partner. I'm fairly sure we will be picking it up 100% with a very to doing minimal work over a long period to entice a partner somewhere down the line once infrastructure is more developed in the region. It will be an unwelcome drain on the resources for a while but may provide some excitement further down the line.

BDC do you think the businesses are at an advanced enough stage for that scenario?

Infinity splamming every mining company on the LSE to try and get this over the 11.5p hurdle but doesnt seem likely given there has been no update out of Kouroussa with the debt is piling up. Seems a bit toppy now, expect it to fall back to its normal range 8p-9p.

The worrying thing is the gov had a long time to both look at the books and consider the terms of the ship building project.

How does a cash raise and a new licence a) make it look like we are a take over target, and b) indicate that we are anywhere near divesting ourselves of any assets?

For me opening up a new area for exploration (spend) is a mistake. Why not stick to developing Gas under our current licenses where we have experiance and data? We are just a small fish jumping into a big ocean, along with all the other small fish hoping someone will come along and give us a great carried deal with load of cash? Not going to happen and I dont see getting into one of the hyped regions as a vote of confidence for anything that has gone before.

Yes I don’t think it will be dividends, atleast not initially. We will be in a strong position to develop other assets without the need for cash raising you see elsewhere.

The question is how do you/market value this deal. We can safely assume production will exceed 1000bood after 12 months or so. That’s approx £3m per year to PPP at no cost.

Even if they don’t develop the field significantly after that, 30 years of £3m has got to be worth a big number.

I don’t see any mention of a farm in partner on a new block?

As I understand it there are initially 4 wells to work over? They seem keen, I assume that well operations could continue beyond those initial wells.

A small sim company with activist shareholders voting against resolutions isn’t going to get large investors interested. Ultimately the value here will be limited by the underlying holding which are all falling short if their touted potential for a long time now

I guess 6.5p ain’t bad, maybe leaky news which have pulled us down from 10p already though.

They need more money for machine repairs and replacement that hasnt yet been secured

Problem is the business is only generating £500k per year with £7m debt to pay in 2 years. The only hope is that performance improves and the debt can be restructured on better terms than the current 20% once interest rates and financials improve.

The key here will be getting some larger buys coming in. We’ve had the better than could have been expected RNS, now we just need an interview or update to confirm a few matters. Then the big buys will start dropping in.