Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Hi sweaty, londoner7 has a similar opinion to myself. Timing and cash in this alliance seems to have been everything. I've said long enough that there's not enough oil being currently produced and sold to fund the company going forward. Climbing into bed with Baja is the best thing Mosman has done. That said, I didn't anticipate the gas cap at Stanley and neither did the bod. The immediate future is now secured, Mosman has its money for Stanley 2. It's now a waiting game for Stanley 1 to produce the anticipated oil and a hopefully a positive drill at Stanley 2.
Self financing what Spary? You deluded yourself that this placing wouldn't happen. It was inevitable, there's just not enough oil being produced and sold to fund ongoing daily costs never mind horizontal drills. I'm sure the financial accounts will shed a true light on the picture and I'm sure it won't be pleasant reading. We've all been taken in, one way or another.
Minermate you're obviously a member of the inner circle of the company with your prediction of an update within 24hrs. How this can be classed as a "nice update" is obviously company spin. The fund raise in part to fund normal operating costs tells all about the financial position of the company.
Don't forget that repairs will be carried out over the next few weeks. Personally I'd have thought that repairs would be prioritized to maximise production to increase sales and cashflow? Looking forward to the next RNS.
............"however, I take the point that the well can soon be opened up to optimise oil production" Did you miss that from my original post? It's got f#ck all to do with my position. It wasn't a positive RNS. If it had been the SP would have risen. In trying to be clever you're only succeeding in looking stupid.