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https://mobile.twitter.com/aimranger1/status/1380880844542377988
The shares are locked in for 3 and 6 month periods but Lombard carried out a short on echo after their bond holder agreement so it cod happen here.
A win is a win and maybe some investors couldn't be bothered to vote as the outcome was certain. Not many voted against the deal and a win is a win.
At the Noteholder Meeting, Quorum was reached with voting instructions representing EUR 22.4m of the Notes lodged by holders of the Notes ("Noteholders") with 96.88% of votes cast in favour of the Proposals.
And investors on here were predicting it being rolled on for another vote. This was all sorted weeks ago, just a legal formality as I predicted. Roll on phase 1 RNS.
PS, you go on that this is the only reservoir on our license, even if we are at the bottom end of potential reserves we are at around 7 / 10 TCF. It's there, just going to take a bit more finding that's all. If you have sold up then just move on, life is to short to be miserable, roll on tomorrow.
PS, you are wrong, we get 47.5% of net 20 million dollars, the 13 million PA to italfluid includes all operation and maintenance costs. This opens the door to phase 2 development and also reserve base lending for exploration or farm out the rest of East Morocco for a free carry. 47.5% of 2.5 billion dollars is a chunk of change.
I would assume voting can be carried out by proxy and Graham has negotiated the deal do just a legal formality.
The gas has been in the ground hundreds of millions of years, what is 1 more to realise the Moroccan dream GLA enjoying my last Saturday night couped up.
SOUND P10 number plate I recall , kiss of bloo dy death. Surprised Crude aka Kirk hasn't commentated lately.
The odds are going to be better than 50:50 for bond holder approval, more of a legal formality.
BM has finally set up a share account and started buying :-P
Ktf, don't kid yourself, Marco is an alleged Dodgy middle man with links to the bond holders, that's why he has supposedly stepped out of the discussions.
Let's be honest, a lot of the bond holders money is dodgy at best so for these holders to go on the open market with the asset will attract unwanted investigation / due diligence so it's in their interest for sound to develop the asset. Nice steady move in the SP.
Well we haven't received an RNS saying talks have failed with italfluid so progressing well as per last update.
We own 47.5% of $2.5 billion in extractable gas revenue. Only need another 3 horizontal drills to fully unlock the horst due to less compartmentalization of the reservoir, BM's words. Then there is te2 gas shows and sbk oil shows. Double figures are well within the valuation I put on the asset.
You would of thought with Marco having a foot in both camps, bond holders and a director of sound he would be able to arrive at a suitable solution for both parties.
I'm still kicking, so I have outlasted Gerry doorbell and James Turpin, third time lucky with Graham and Mohamed. Bond holder meeting next Wednesday then LNG and FID should drop in quickly.
We are all "Doooooomed"
We might get some profit takers money from 88 energy here, their Merlin well results are due this weekend.