Member Info for Cebo-456

The BBC this afternoon were talking about daily "Supervised" testing in all Schools.
We know that Avacta do not yet have Self test approval but (from memory), the CEO at the last business update, 21st June, talked about the difference between Self testing (not yet) and Proffesional certification (which it does have). He then talked about "Supervised" testing which was different from self testing. On that basis, is it very possible that as we speak, Avacta tests could be used in Schools without waiting for th MHRA to get their act together. Thoughts welcome.

Its not Jam tomorrow anymore, Its Jam in 3-5 years time. ;-)

I think that the next RNS may be that the Company have chosen not to appeal and that they are withdrawing from the plan. That to me is the only real option open to them. They underestimated CA and shareholders so well done those that were brave enough to hold throughout (I wasn't).

Skimming through it, it looks pretty much like any appeal from the Hur QC or the Bondholders lawyer has next to no chance of success - hopefully they will drop the appeal rather than waste more money, and let some sort of normality return to the Company.

SB, yes that strategy was well known and means the Bondholders in the Company picked up the 7% anually or whatever the % was/is no matter which way the SP goes. The situation here is different as the Bondholders want, and depending on tomorrows judgement, may end up with 95% of the Company.

Haggis, I think bondholders buying in the open Market would have sent the SP soaring and that they thought they would be handed over 95% of the Company for no further outlay, - and let's face it, without CA bringing in Andrew Thornoton QC and Ben Shaw then Bondholders would have had a pretty easy ride.
I dont buy it that tomorrow will be a formality for share holders by any means, and although it looked like the Judge was swaying against any immediate restructuring plan I am sure it will come down to the legalities of it all.
I cannot see the Board being able to buy shares like you suggest and I am still not fully convinced the Kerogen are large Bond holders either - I am surprised that no one, particularly AT QC, asked that question or pointed this our to the Judge as it seemed very relevant when Tom Smith said that even the Major Shareholder (K) refused to put any more cash into the Company.
Interesting that AT also mentioned in court hat RB had said he may be prepared to head up any raise in the event of a shortfall when the Bknds are due next year.

Theres another after hour one showing up for 47.7 million shares - Value £784k, Trade proce 1.67p. If those are actually buys then someone has made a decent profit against the closing price. TR1's possibly early next week ???

Even bigger one at 17.05hrs > 29million shares (>£440k) Trade price 1.5p.

Anyone reading JRs history can see that his predictions and nonsense he spouts across all shares as so ludicrous its laughable, or sad.
But then this is only a faceless bulletin board so each to their own - and it does counteract the bitter and twisted deluded derampers I suppose.
So like I said, good luck for Monday whichever trading position you have here, short or long. I have neither.

Jovan, out of interest, why does he ????

Ok, so as suspected the Judge has instructed the Court on how to proceed and there will be a hearing on Monday - looks like the rumours and buying this afternoon may have been a touch premature. It is obviously not as clear cut as the derampers or rampers would have you believe so a bit more patience required - Whichever way it goes good luck either way on Monday.

Ok, so as suspected the Judge has instructed the Court on how to proceed and there will be a hearing on Monday - looks like the rumours and buying this afternoon may have been a touch premature. It is obviously not as clear cut as the derampers or rampers would have you believe so a bit more patience required - Whichever way it goes good luck either way.

Thanks HH.

JR, Where did 9AM Monday come from, was that just a time and date you plucked out the air, similar to your pie-in-the-sky SP predictions.
I may be wrong (unlikely) but to my knowledge, the Judge has not yet given the court instruction on how to proceed and it is very possible there may be a hearing again on Monday before any final decisions.
Maybe give your head a good shake and stop posting the first numbers that come into your head.
Ceb

Retired banker, that's incorrect. Why would it be CA figuring how to repay the bonds at that stage - it would simply be the BoD, possibly a new BoD, that would look at the options. I think the QC for Crystal Amber put up enough suggestion to the judge on how this could be achieved, or at least convince him that it may be achievable, and that if there was any shortfall then this could also be addressed a lot closer to the time.
Buying back the Bonds was suggested and discussed years ago as a feasible option even before RB proposed this to the Company and that boat (pun intended) maybe hasn't yet sailed - even tendering for $50m today @ 70c, as opposed to the 50c which there are still trading at, would save $15million, plus over $3 million on interest. I don't believe that a good proportion of Bondholders wouldn't sell if they were getting nearly 40 or even 50% on top of current market value, which is what Mr Smith QC tried to suggest today.
Add approx $10 million for a quick sale of the Long Lease Tie-back items currently sat in a warehouse and the value of the IP and you can see how the shortfall, if any, could arguably be hugely reduced.
So Retired Banker, if the judge rules against any restructuring, and there is no guarantee that he will, then I do not see it being in anyones interest to start winding down the Company. The Boards (old or New) first job will be to start properly talking to Bluewater as the charter needs sorted ASP. They then need to explore all other options going forward including bond buyback, JV's that are cost neutral to the Company, asset sales etc and come up with a convincing strategy.
I suppose the new BoD could also decide to sit on their hands for the next year, pile up the cash (if the PoO and production plays ball) with a view to refinancing any shortfall next year.
FWIW, ther are still far too many unknowns that a new board would have to clarify and before I would consider any serious investment into this Company again - but never say never, doh.
But hey, enough of my waffle, and as they say - WTFDIW x

JR, I hope no one is stupid enough to let your posts, videos or constant ramping have any influence on their decision to buy or sell this or any other share- If they do then more fool them. In fact you appearing on the Hurricane Board probably keeps many from investing.

Having watched todays hearing in full, particularly CA's QC late afternoon it is too hard to call, I think the judge will find it extremely hard to sanction any immediate restructuring plan though. It looks like the hearing could be wrapped up by late morning tomorrow with perhaps a decision to follow in the afternoon.

Who knows which way it will go, but whether you are invested long, short or just trading, good luck tomorrow and hope you realise a profit.

FWIW, BP already produce substantial amounts of Oil from Fractured Basment West of Shetlands.
"normally should have done so" - not sure this is correct, the terms of the license will dictate when the have to drill and both BP and Shell can and do sit on licences for years before drilling them or handing them back.

FWIW, BP already produce substantial amounts of Oil from Fractured Basment West if Shetlands.
"normally should have done so" - not sure this is correct, the terms of the license will dictate when the have to drill and both BP and Shell can and do sit on licences for years before drilling them or handing them back.

Bmbear, you don't need to be invested to read or post here, I have no shares (simply too high risk for me now) but do both. - however that is slightly different to those that post negative drivel multiple times a day - I dont believe that they have Shorts open (very unlikely), nor are they working for MM's etc (BB Bu||sh¡t), I guess they are just sad individuals that have lost money on this or other shares, or just very sad, lonely and pathetic people in general that want some attention for whatever reasons.
Anyway a couple of thoughts - CA, RB in particular, is no mug, surely if he thought there wasn't some sort of hope then he would have slowly dumped/unloaded a load of shares over the last month or so - he hasn't.
Also surely those posters on here actively encouraging share holders to vote now for the AGM and GM isn't this a bit pointless or premature - as I suspect that after Monday's ruling, the SH register will look completely different - if the judge rules in favour of the Bondholders restructuring then shareholders will possibly jump ship to salvage whatever they can, If it goes against the bondholders then depending on the SP, a good few less risk adverse investors will jump on board for the rise and ride and others take profits or cut losses.
I haven't tried to work out what the Price of Oil needs to be times the average production or the value in equipment, tax losses etc, to try and work out if the Company can pay back the Bondholders when due, but I though Tom Smith QC didnt do the Bondholders any favours when he mentioned (a couple of times) that the Bond-holders expected to take a "haircut" either way - this leaves any counter proposal or argument a bit of wiggle room when putting forward different scenarios, even proposals which may encourage the judge to postpone or even throw out the restructuring plan.
Anyway to those holding, good luck for the hearing next week and have a great weekend all (even the sad pathetic posters that are peddling doom and gloom).

From memory the SP hit 5p late Oct, early Nov 2020.