Member Info for cbaron

21.53

If you made a profit at 84p well done.

However, if you are concerned at the relatively small percentage variances, as between 84p and a diluted position of say75p, then I suspect that the stock market is not for you, particularly the AIM market with its typical high risk profile.

The old adage is that you should not invest or gamble - the AIM market is a huge gamble - more than you can afford to lose.

Is it not time for a change of emphasis to find an early win?

18.10
"Waiting for a Republican President?"
And so, from the guru, we now question whether or not a new POTUS is the means by which Project Peregrine is deliverable.
Forget Merlin 2, it could be a dud or is could be a success. Let's be generous and assume the latter, great geology, proof of extractable resource (by flow testing?), but then we need to wait for a new POTUS, then we need to agree terms with Conoco for an extended pipeline from Willow (assuming Willow is still part of the plan), then we need to agree the terms of connecting into the Willow pipeline, then we need to build circa 30 miles of our own pipeline to reach the Willow pipeline. All the while someone is going to crunch some NPV numbers to work out whether this will fly, commercially. Downhill with a following wind this is years and years away using the POTUS suggestion, even if the Democrats fail at the next election. Forget today's oil prices.......... and no we are not a producer............ and we're not going to be anytime soon. Lots of time for alternative technologies to catch up.
A throw away comment which I'm sure wasn't intended to be interpreted in this way..........if not, which way?

GS
The details of the Pantheon/ Great Bear deal were published in the RNS dated 21 December 2018. The RNS goes to over 40 pages and the description of the deal structure is very lengthy indeed, but I refer you to the section headed 'IMPLICATIONS OF THE PROPOSALS UNDER THE CITY CODE', which provides practical context in terms of what can and what cannot happen.

The consideration payable to GB was part cash, part Ordinary Shares and part 'B' shares. The latter held no voting rights.
The structure of the deal provided that GB and the others acting 'in concert', including Farallon and certain named individuals, including Rosenthal, will hold less than 30% of the Ordinary shares, the trigger point for a Mandatory Offer and also the level at which, under the City Code, a general offer is normally required.

Additionally, in regard to the 'B ' Shares, these can be converted to Ordinary Shares by agreement with the company, however, a protection mechanism was included in the deal such that non-voting shares could not be converted in quantities which would push the 'concert' holding above 30%, thus triggering an offer situation.

The missing element, as we all now appear to acknowledge, is the detail of the commercial arrangement as between Farallon and GB in relation to the repayment structure on the debt owed by GB to Farallon, the amount of shares owned by Farallon and the number of shares it will take to pay off the debt and servicing costs. The latter clearly varies with the value of the SP.

What appears to have happened is that sufficient numbers of shares have been sold to allow the conversion of the non-voting shares to voting shares, whilst not tipping over the 30% limit and that sales have continued such that the amount owned by the 'concert' currently stands at 16.99%, as per the RNS dated 22 October 2021. We still do not know how many shares are held by Farallon, but it is safe to assume that it is less that 16.99%, given that they are a part of this 'concert' ownership under CHONS.

What we do know is that huge numbers of shares have been sold under this arrangement, as can be seen from the RNSs and the dwindling 'concert' share ownership and this will almost certainly have had a negative impact on the SP. Hopefully, the debt is close to being paid.

Red,
Don't get too comfortable, I'll be back to my 'warped agenda' soon enough! ;-)

Whilst we don't agree on many things Redirons, I agree on this and have signed the petition. I generally consider that markets and market forces should prevail, come what may, however, a gamble which can negatively impact fledgling businesses and large FTSE's alike, with potential impacts on pension fund investments, and hence us all, ought to to be controlled if not made illegal. The likelihood of individual shorting actions, historically, was unlikely to have an impact either way, but the potential impact of organised social media interventions makes it a real threat.

This one sneaked under the wire at 6.16pm on Friday 22nd October! Down another 1%.
https://www.lse.co.uk/rns/PANR/standard-form-for-notification-of-major-holdings-jklyhi5abo8ffhi.html

GS,

Thanks. Interesting article. It appears that nothing has changed, save possibly for fracking, and the Rule of Capture is alive and well.

10.20
From recent experience it was no doubt you who drank more than his share ;-) Keep digging!

I'm glad you mention the Rule of Capture - I don't think we have a definitive answer.

Perhaps you should go out there on the Lease boundary with a core drill, a length of hose and a foot pump and see if anyone challenges you? Keep you out of mischief for a while. We'll arrange whip round for a tent. ;-)

.........in a pint glass judging by your performance last weekend! Gotta laugh! Thought you of all people might be bright enough to stay off the subject!

7.55 - 8.03
From the bottle last night to the morning hangover and a very hazy and very confused crystal ball.
He now knows more about the Alaskan legal system than the Alaskan legal system!

How can an objective assessment and calculation be nonsense. The basis for the mathematical calculation is from public information, not dreamed up. The historical articles and assessment produced by those far more in the know tell us that Umiat is uneconomic.

Objectivity and sensible conservative calculation are not the friends of many an 88e investor, including many here, because when you press the equals button on the calculator the answer is unpalatable.

Let's dream about the next election, political support or the fact that green lobbyists will assist in arguing for more fossil fuel extraction. the last one is my favourite.

Get on with exploring the viably explorable!

22.35
Reaper,
Hardly, just leaving the airport at Kathmandu ;-)

It appears that even the native peoples are in the same dichotomy as the rest of the world with environment versus income.

It is unfortunate that the latest release made such a big play of taking product from Peregrine to market via Willow. The development of Icewine through the geological linkage with the neighbours 'resource' seems to me like a much better, early and sustainable prospect and might even generate early income - now what business planner can ignore that as a sensible prospect? Yes, cashflow!

.....though why we're discussing Charlie 1 I'm not quite sure, as this was another of DW's duds. It has been suggested that a Polar Bear peed on his blue touch paper, though for the life of me, I cannot find the source. ;-)

10.48
Yes, thanks to Brom for the coordinates - always helpful on the detail, thinking it suits his purposes - Charlie 1 is almost exactly 29.3 miles due west of TAPS, at the nearest point, in a straight line. It needs to cross one major river and who knows what else? Where are Merlin 1 and Merlin 2? Perhaps Brom might help us, though it needs to be acknowledged that the location of Merlin 2 does not appear to have been determined.

JB Cheatham, Director, Pantheon Resources PLC - DOB February 1948 (Companies House)

12.14
My point proven in the twinkling of an eye......well done!

11.54
Ha ha!
Four of your last five posts are addressed to me or refer to me - I think you must love me really....... sweety!

10.48
"Nothing to add have you?"
Not to another of your vitriol-filled rants, no I don't!