Member Info for davidblack

Just leaving plenty of space for an upgrade if it comes in nicely and not too much on the downside if it disappoints. Chap needs to have space to write his “I am a genius” upgrade note.

Rough day in Canada for the government who have been misbehaving and are within weeks of calling a new election hence why Canadian stocks are a bit off across the board.

That’s the difficult bit.

I saw that piece last night that put a $2bn possible valuation on the stock if it hit all the current planned drills.

Should that happen how many of us will be able to resist selling at £3 or only half way?

Warrant exercise price 0.25p for three years to 31st March 2023.

Warrants on 15% of the equity as at end of March 2020 at 0.25p for three years.

CEO I think has 195m options.

The three year life suggests they will be in a hurry to make things happen.

The delay is likely about the price.

Maybe this mornings wobble will have trimmed it back a little?

The problem as ever is there will be two sets of lawyers working hard to “Find issues” and thus drive up the bills.

Nice the deal is done both sets of lawyers who have been harsh and difficult will then nip off to drink champagne and discuss which new cars they plan to buy.

It was as ever so!

Corpse the interesting thing was the second thing I said, but I clearly didn’t articulate it to well.

So yes dividends are very unfriendly to Canadian higher rate tax payers but PB has raised the point and he wouldn’t have unless he had a plan. This is interesting.

What is probably not so clear to UK holders is the sheer buying power of the tracker funds and particularly the income trackers who tick the pension box “Average Risk” that the average investor is steered to by compliance forms.

This is therefore a very old fashioned way to harness the power of pension compliance and move the share price higher ahead of any bids.

And very nice to see PB has flagged the issue early so he then can’t be accused of by “Manipulative.”

Looks like when the bidders come they are not going to get this one cheap.

Not very appealing for any higher rate Canadian taxpayers or rather every single board member!

So while a dividend might be paid that will be more about forcing Canadian income tracker funds to buy the stock adding the last 20% to the final price before this gets sold to a trade buyer.

Did half the move.

And there is always tomorrow as we know rubbish isn’t going out of fashion.

Just about to pop!

Ok to 0.58p-0.60p so not a mega event but nice to see this nibble higher.

Apparently the drill should be entering the target zone in the next few days subject to a good cement job on the casings. According to Canadian postings yesterday on Stockhouse.

And then very slow progress as the drill moves through the zone avoiding any huge events as it hits gassy zones. Rushing is not an option and the longer it takes the better it would appear! Well except for our nerves.

Also watch the trades in Canada from Acumen a Calgary brokerage as someone there may well “Have a feeling” before the market generally. You can see them flagged on the Stockwatch site.

Obviously 2+2=5 logic.

Many thanks Greentech. Your comments are illuminating especially when combined with actually knowing how local government works. Local government decision making is I think is a mystery to most of us here. Certainly to me.

No volume in Canada of late.

A UK deal where EQT owns a slice of the underlying project like Billingham or Deeside would likely move the needle.

The Greek deals are for equipment and maintenance so create much less forward profits but should give friendly cashflow to deliver profitability over the next 12 months.

Unlikely but there were hydrocarbons above the Cascadura discovery last time that they said they would come back to in due course. The implication being they may be lesser workaday pockets that might be drilled like the existing 1,500 boepd production which creates jobs, maintains infrastructure and is modestly profitable above $40. So handy for maintaining the facilities and other fixed assets.

It will be intersting if it hardens as the day goes on.

Feels like North may have been selling in London? Or is that paranoia?

Opened at $1.30 with 30k traded after 5 minutes on the TSX platform.

Will be interesting if this closes up today in Canada which would be a nice bullish signal. UK feels a bit soggy today.

Can’t get on either

So much nicer now, many thanks