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Hi Ericnat17, I don't think the deal is going to go through as quickly as everyone thinks, though I wish it would.
The reason being is that the problem is, JP is earning nearly £100k per month for essentially now doing not very much. He has even gone on record, I may slow things down if necessary (I cannot think of a single reason why you would do this apart from the extra salary).
Now, if you were earning this sort of money, would you be trying to do a quick deal or would you take 12 months, to do it.
Based on what? we have a small find valued at somewhere between 20 to 25p and failed seismic. I would really love to see this sell for my average of 65p but try as I may I just cannot get anywhere near this figure. what happens if we do not get any bids in the short term and the money starts to run out?
anybody know what time the AGM is scheduled for?
Also, does anybody else have a problem with the timing of the RNS yesterday. It seems it was issued with a few trading hours left knowing that the share price would plummet, then issuing the RNS this morning hoping for a bounce. it was if JP was letting the inner circle get in just before closing yesterday knowing that the share price would rise this morning with the RNS.
What I am trying to say is that I would have thought what was RNS'd this morning should have been included in yesterday's RNS because I do not believe that this decision to sell was made after yesterday's RNS
Daveyboy, with all JP's hype, I invested more than I should have here ( and before you say anything, I know it is ultimately my own fault) but the constant missed deadlines is really starting to make me nervous now.
They were able to tell us that the delays were due to the fact the they didn't have the coiled tubing, so you would think that they could tell us if the damn stuff has arrived yet, that's all.
I think the nerves are getting to me.
I have been trying since last Thursday to find out from Sarah as to whether the coiled tubing has arrived on site yet.
The company will not answer this simple question on the basis that they will not "provide a running commentary" on this very complex testing process.
I think we can take it from that that the coiled tubing has still not arrived.
Would there be any logical reason why it would not be there at this point?
This is starting to concern me a bit.
Latest email from James.
Hello Daniel. We expect the GSA to cover the concession and for it to cover all gas from the concession. That does not include TE10.
We cant guide on specific timelines for price sensitive newsflow I’m afraid.
More generally the GSA will hit the critical path later this year and we hope of course to close it before then.
James
Am I the only one slightly concerned with the latest RNS? JJ said in December that the deadline for the GSA to be on place is H1, or 24 days time. The RNS doesn't indicate to me that we are any nearer getting it signed.
What are the implications of this?
Also, we were assuming that we were going to get around $8. This is less than SDX as apparently they have next to sod all gas so that is why they are getting more. NOW, if this concession is going to include a larger area, then would logic not dictate that were are going to get less than the $8 were we expecting.