Member Info for Conger2

Hey Gordon, Share prices are not Rational.

300% rise form here is nothing Gordon.

This company is share price is multiple times under every sensible measure of asset value, never mind future potential cash flow. It owed in cash more than its share cap has 4 projects,

1 of these sold for a profit
Part of another sold for a profit
Winning back control of a proven field
Waiting for Cambay to be sorted and the UK to be progressed.
Owed $5m USD in cash calls.

HOLD HOLD HOLD ...

Gordon it will absolutely sail pass .325 once things are sorted.

it all taking too long.

Gordon, The recorded death rate and the death rate are entirely different. Even different counties are using different ways to record the dead rate. You just can not compare as they are not like to like.

It is positive news but not going to bring revenue right now which is what Oilex really needs.

The long painful wait continues....

No much action in the shares but i do see some big individual buys going on in the last few days...

****************************/articles/oilex-says-sale-of-bhandut-psc-interest-has-substantially-progressed--1a0fc4b/

There nothing they can do or say.

Sale is internally confidential with GSPC and GSPC plus Buyer have the mother of all excuses for the delay.

Mr I, exactly my sentiments, as long as they keep getting funded we will get there, annoyingly with further dilution but we will get there.

far too late for that Yuri1

I agree Callum it is significant.

ASX Announcement Armour Energy Limited 15 June 2020
Execution of Agreement with Oilex Ltd for Acquisition of Cooper Eromanga Basin Assets and
Commencement of Brad Lingo as CEO
Further to the previous announcements of 28 May, 1 June and 5 June 2020, the Board of Armour Energy (“Armour” or the “Company”) wishes to advise that the share sale agreement with Oilex Ltd (“Oilex”) for the acquisition of all the issued capital in CoEra Ltd has been executed by the parties.
As previously disclosed, CoEra’s assets comprise a substantial footprint of exploration and production licences on the oil rich Western and Northern Flanks of the Cooper Basin. The basin historically has a high exploration success rate, low cost development pathways, and remains under-explored and under-developed. Proven oil fairways transect and lie adjacent to the licence areas subject of the proposed acquisition and the many nearby discoveries and fields provide analogues for future discoveries.
The acquisition consideration includes the issue to Oilex (or its nominees) of a minimum of 24.5m shares and a maximum of 34.5m shares in Armour, subject to the VWAP of the Armour share price for a period of 90 days from the execution of the Term Sheet. The variance is designed to deliver a closing consideration of $906,500 in Armour shares to Oilex, subject to the aforementioned maximum and minimum parameters. Completion of the sale agreement is subject to a number of conditions. The conditions include that the issue of the shares to Oilex will be subject to any necessary Armour shareholder or regulatory approvals, and the shares issued will also be subject to a 12 month voluntary escrow.
In conjunction with this development, the Company is pleased to announce the commencement of Mr Brad Lingo as Armour’s CEO.
Mr Brad Lingo has had a distinguished career spanning over 30 years in a diverse range of oil and gas leadership roles, including business development, new ventures, mergers and acquisitions and corporate finance. Mr Lingo has been actively involved in oil and gas exploration, development and productionactivitiesintheCooperBasinsince1993. HewasManagingDirectorandCEOofDrillsearch Energy Ltd for 6 years building the company from a 200BOPD oil producer to a leading S&P/ASX 200 index Cooper Basin focused oil and gas company. During his time at Drillsearch, the market capitalisation of the company increased from ~ $40m to ~ $800m.
For personal use only

Mr Lingo has received recognition as an oil and gas industry leader winning the S&P/ASX200 Energy Best CEO of the Year award in 2014 in the annual SMH/East Coles awards. Prior to taking on the role at Drillsearch, Mr Lingo was Head of Oil & Gas for the Commonwealth Bank of Australia. Mr Lingo started his career in the Cooper Basin as VP and Head of Business Development for Tenneco Energy and following the acquisition of Tenneco by El Paso Corporation, Mr Lingo was a co-founder of Epic Energy which became one of Australia’s leadin

Maybe it is C section time as overdue?

A shares value is equal to its discounted future cash flow not just the assets value.

You might get it to the penny but if they have unlocked the shale gas methodology for Cambay, as they claim, the shares are worth dozens of times more than the current price.

I think more than one person on here knows who it is and know the ball park figures ....

It feels there is more upwards pressure that down on the sharp price at the moment, as it is holding the rise so far, and i dont thing anything triggered it of real significance only RNS delaying a deal.

From what I think I know I would expect £10-15m UKP valuation for Oilex's 45% .

I had a conversation with Joe on exactly this subject some time back.

1. The cash calls were and assume are still being pursued.
2. The bidders were/are fully aware of the outstanding cash calls even though the tender document said no debt.
3. Do not expect to get 100% of them as I suggested some sort of settlement deal around them will be made, Joe agreed that is likely.
4. He confirmed they still have the right to pursue them in the court.

Don't understand the 20% spread buys are right by the .11p as well. Someone wake up the MM.