Neither have I but I just clicked on RNS news tab and there is loads for different companies that were released in the early hours of this morning. Maybe they are submitted to LSE who then release at 7 normally and a computer glitch has sent them out as they came in?
Maybe ONGC are planning to buy us out then immediately accelerate the CPO5 program. They could then sell off the other parts to Oxy
Each week that passes is a week closer to news. I thought we were going to hear last week, so I’m really thinking we will hear this week! Don’t think many of us won’t be logged on at 7 am again.
No idea why it’s showing one extra think it’s just a glitch I got all excited when it first popped up checking other sites and my email but alas today does not seem to be the day.
Think they were lucky to get away with a profit, I don’t really get it the risk vs reward doesn’t make sense if news had landed could have cost them a lot
Morning RNS looks like that short now closed
Looks good but this guy seems to be the only one that gets that source which is bit strange
Yes wish I’d been able to load up at 10p but I bought all the way down so only had 1k available at 11 missed 10 did sell some at 19 though and then bought up again at 16.5 so increased my over all stake a bit. Shame I didn’t do it with more of my holding but my foresight is never as good as my hindsight! Lol still my average is great if we sell. If we don’t I could be sitting on losses against here!
Ha ha no not my short just read the RNS, sorry been working since I posted earlier. It’s only 50000 shares so not a lot just very strange timing with news imminent
BMO capital markets have opened a short at 19.52, presumably they believe a deal is not going to be done. Any thoughts?
Sorry CYB totally misread your post. I agree with 50cc we will most likely get a recommended offer, if we don’t think we won’t sell at all. It wouldn’t be a disaster to wait for CPO5 to be developed and our other assets!
Feel like the littlest hobo.....maybe tomorrow
Don’t understand why you think being bought out ‘Relatively Cheaply’ is good for PI’s.
It would be good for Coller Capital and Michinoko
https://www.echo-news.co.uk/news/18006327.ryanair-launches-six-new-routes-southend-airport/
Roses are confidently predicted all the time doesn’t mean they happen. IRON may still have a way to go but they only have money to stay solvent till Jan do downside risk is 100%. I’m not invested there but I had planned a punt if this had concluded in time. I expect those who benignity there may be thinking the same about AMER
Geopark q3 results discussed in this article. Their principle producing asset neighbours CPO5
https://seekingalpha.com/article/4298367-geopark-managing-q3-operations-weak-macro-environment?ifp=0
Hi CD
Yes you are right it is really irrelevant, I don’t think we had confirmation beyond the first trial batch of third party oil. That it did in fact build as guidance suggested it would. I find that mildly annoying but like you say not a big deal. The timeline on ONGC. Drills doesn’t make sense if it was the same rig as before where is why hasn’t it spudded why is there this tender for another rig which seems to indicate the same drill. Again with FSP not ultimately going to matter but frustrating all the same. Am I moaning just for the sake of it? I don’t know maybe just venting frustration, I’ve been here couple of year now so I do get frustrated hen it seems like we are not getting the full story. It’s ONGC that are the cause of my frustration mostly, their snail pace. Maraposa still has only 12” of perforations FFS!
Just been looking over the ONGC tender document for 2 firm wells one of which is to be on current pad near 2 previous wells. Seems likely this is this indigo 2 appraisal well. Therefore the rig we were previously using is obviously not drilling these wells. I’m guessing ONGC cancelled their contract and released that rig. Bid submissions are mid November for new tender so chances of a spud before Christmas looks unlikely. I’m convinced there will be no further operationally positive news before conclusion of FSP. Although I do think it’s ridiculous that we still don’t know to what extend 3rd party oil is being carried through the pipe.
formal sales process (the "FSP") entered into on 19 July 2019. Last update was the 11th October.
In the last update they said “The Company has conducted a thorough process to date, including the provision of large amounts of data to interested parties and their advisors through virtual and physical data rooms.” So interested parties from further afield potentially, that couldn’t get to the physical data rooms. There is “Multiple well-funded parties are engaged in the process.” So it’s fair to conclude offers will be tabled.
“The Company has issued revised bidding instructions to interested parties, inviting firm proposals to acquire the entire issued and to be issued share capital of the Company (the "Bidding Instructions").” So bidding instructions have been handed out, it is therefore fair to assume a bidding submission date. Is long is reasonable from issue of bidding instructions, I’d guess couple of weeks which is pretty much end of month and everyone likes a round date. I’d guess bids in by 31st or 1st.
The Bidding Instructions make clear that proposals should include confirmation that any potential bidder is in a position to comply with requirements of the UK Takeover Code relating to Cash Confirmation (Rules 2.7(d) and 24.8).
The Company is seeking to conclude the FSP in Q4 2019. Further updates will be provided in due course. Shareholders are encouraged to take no further action with regard to their shares.
Brexit is debated plenty of places, very popular on Lloyd’s bb (at least it was I lost interest reading there some time ago) Please let’s not have it clutter up this board!