Member Info for Brombarb

19:06

based on information on the attached link it looks as if NEW.

https://whalewisdom.com/short_position/holder/citadel-securities-gp-llc

Agreee with you timing seems odd.

Unlike Mangrove Citadel do not appear to issue "research" documents so does anyone have any idea what their tactics will be or even why they they have shorted us?

09:34

Neither can I now as FT limit access unless you subscribe.

Wiki article appears to be very similar.

https://en.wikipedia.org/wiki/Citadel_LLC

08:29

Is that good, bad or neutral?

Citadel Securities website told me little, attached article tells a little more.

Appear to be in with the big boys here.

https://www.ft.com/content/d4202685-9ef4-484f-a3f3-a7c731418935

15:10

! am suspecting that Ashley is thinking that based on the fact that we would appear to be happy to cede Phoenix operation to Bex if they can come up with suffient money, with Peregrine suspended you would wonder what is happening.

Pehaps Ashley prefers Namibian safaris and Texas tea to Alaskan Tundra.

14:45

I would vote for one :-)

https://pbs.twimg.com/media/DWoFYMZVAAAb3RT.jpg:large

Shares admitted to market 02/08 and then a period of news relating to Megrez-1 (69% COS) may be just what is required to lift the SP.

spuds may not be the magic bullet that they were ten years ago but if the company can manage the message it should all be positive.

"The premise of the LTI Scheme is that the relevant executives will not be unjustly enriched at the expense of the Company but rather, will share in the value they have created over a designated long-term period. "

I have looked athe LTI scheme and struggle to understand how vesting conditions can have been achieved based on the fact that our share price has disintergrated.

Even if peer companies listed in schedule 2 have totally failed so has our share price.

The scheme approved in 2022 was as far as can see still in inits validity period of three years.

https://clients3.weblink.com.au/pdf/88E/02579741.pdf

23:57

"David Hobbs wouldn't have invested years of his Pantheon wage in Pantheon stock."

I thought that DH 's time with PANR commenced in March, 2023?

An awful lot of reliance seems to be placed on the proposed natural gas pipeline, specifically the reduction in funding requirement from $350M to $85M.

In less than 6m the ACGD will throw themselves on their swords if they fail to come up with the necessary investment to complete stage 1 (the basic pipeline) , throwing the project wide open.

" The board members have also instructed project staff to find adequate private funding to pay for the huge project or at least a major first phase of it. If either of those can’t be done, the project should be shut down and either sold or mothballed by the end of this year, according to an April 22 letter board members wrote to legislative leaders."

https://www.adn.com/business-economy/energy/2024/05/01/alaska-gas-line-leaders-ask-lawmakers-to-support-giving-44b-project-until-years-end-to-succeed-or-die/

It should be noted that Enstar are currently preparing to build a natural gas pipeline to facilitate the import of gas to the Cook Inlet basin to alleviate shortages, what the economics of each project equal too I am unsure but there does seem to be an alternative and cheaper solution (albeit involving imported gas).

https://www.adn.com/business-economy/energy/2024/07/23/alaska-regulators-back-enstars-plan-to-build-57-million-pipeline-to-import-natural-gas/

13:27

Was it just "financial incompetence" or has the SP been allowed to just drift downwards to suit "institutional and certain investors" , a cynical thought perhaps but could explain that lacklustre webinar.

Otherwise I can not understand the timing of this raise.

12:57

"A proportional takeover bid is a takeover bid where the offer made to each shareholder is only for a proportion of that shareholder’s shares."

Company states that this clause has to be reapproved by shareholders every three years, without checking past AGM's can not remember if this has occurred on a three cycle at previous AGM's.

What are you hoping for?

09:22

I am pleased that the company has now raised suffient cash ( we knew it was coming) for Megrez-1 WELL and a little beyond, just galls me that the company did not organise this earlier and in particular prior to that flat last webinar.

Sure most shareholders are accepting of dilution if it means company can progress with necessary operational activities that ultimately will add massively more value to the business.

What happens without cash - nothing good!

So no urgent need for CR at this juncture, Alaska activities dependent of farm out results, leases rental obligations substantially reduced.

Next major costs will be for Namibial Drill, (US$9M) by 01/06/2025

9.7 quarters suggests a "keeping the lights on" operation but no immediate crisis ...

"The total outgoings are higher in Q2 due to final payments associated with the Hickory flow

test program. There is approximately A$1.5 million to pay in Q3. The entity does not therefore

expect the same level of outgoings in Q3 and Q4 and has 9.7 quarters of funding available

based upon the current activity schedule"

https://clients3.weblink.com.au/pdf/88E/02831659.pdf

10:13

I don't doubt that their has been a reduction in salary costs, however whether this has been achieved by reducing director earnings is unsure, Robert Benkovic's * (ann. salary A$445K+) contract ceased at year end so that may have quite an impact.

*Chief Operating Officer, never actually saw any evidence of what he did :-)

Updated policy with regards to management and associated personnel share purchases issued.

Optimistically the update signifies we may see some "buy in" but history suggest otherwise.

Hope to be surprised.

16:25

Many thanks, not sure wow I missed that!

specsavers I think :-)

14:40

Cant see a £20K trade at 2pm, can see only a 20K volume trade both hear and on the London Stock exchange site.

10:31

Agree it's just a step on the road, but so far so good but a long way to go yet.

Licence requirement for Well prior October 2025.