Member Info for ericnat17

Same old sound.

Up on rumours and then when the news comes the trades are already had their profit.

Bond holders also getting 100 million warrants at 2.75.

But by their nature blond holders are in it for the long game. So you may see some conversion but I would not imagine they will sell all 141 million at 2.12.

I agree with St Mary that the quorum may be the issue with the first meeting. Not holders voting against, just not enough to make the 75%. We will get it through on the second meeting. Could be another buying opportunity.

This is a big order being filled all of the 2.34 are sells

2.34 sell
2.39 buy

That right St Mary

We might get the news that the Tax demand is sorted as well. Or at least partially sorted.

Now that would really put a rocket under the share price

Last couple of days has seen one or two MM pushing this up. Looks like they maybe filling orders.

L2 another tick up on the way

2v1

Lots of delayed big buys coming through. News inbound my guess

MM moving up off the low.
Now 2v1

All MM moved up apart from one.

Only one left on the offer, tick up coming.

Yep

L2 MM moving up, now 3 v 1

Its is hard to argue with PS figures they are based on the current know facts. But what is missing is the potential of sidi and the rest of eastern Morocco. All of the figures are based on the revenue from the Horst. And just the lng phase. Let’s just say that we sold out the all of sidi and farmed out the rest of the eastern Morocco acreage. We are the talking of enough to pay of debt and a free carry for additional prospecting in. Eastern Morocco.

I hope GL has some alternatives, if not sell the whole lot.

Would nice to see the research note that we were promised.

I think we could get a whole series of RNSs over the next few weeks.

PS and S123 in my opinion both have views can be seen as valid. We have a share price which has been torn down sentiment and drip bit failures. It has become disconnected from the value of the reserves and the potential upside.

I am not sure that with GL plan we will see any payout for years to come. We should except a low ball offer and move on. Based on the reserves, potential upside of sidi and eastern Morocco, I would think a value of £150million is fair. That’s over 7pps.

Hi Soorb

Farm ins mean giving up some of the licenses. Which means giving the associated revenues. Which we can’t because we are using every penny to keep going for the many years.

Sell the assets to a major. They must want them now.

There 671k shares when the sp was 93 p that was a market cap of 625million. This when we thought we had a massive connected gas field and it was going to be like shooting fish in a barrel.

When we have completed the equity for the capex and the debt swap and the finance. We will have over 2 billion shares and a bucket load of warrants. You do not have to be genius to see what is going to happen to the SP. my average is now very low compared to a year ago, but I believe we won’t get there. We need to sell up.

I have been saying this for awhile. We need to sell up the assets and move on.

The figures for the next 5 years speak for themselves. All of the income is taken up servicing the debts and paying our share of the leasing cost. There is literally zero left for exploration, let alone a return to share holders. So how are we going to pay for the exploration or pipeline? We will have used up our 10 year tax holiday before we get to the good stuff. And that point for me is enough of an incentive to get the assets sold.

If we sold for even $90 million. That would give us 4-5 pps. We could take our money and move on.

Agree. I think GL is a negotiator. I would not be surprised if we get the lack of quorum again at the first meeting and need to reschedule. They will like the warrants. Not sure they will like the debt for equity swap at below par. I am sure they won’t like the 70% bit. So for me it will be a pretty close ru thing. In some respects it is worse for the bond holders than the last proposal.....

PS I understand that and I agree to a certain extent. But it demonstrates that italfluid does not have the capital to fund the LNG themselves. Therefore they need to go to “have you had difficulties getting credit” bank, Exim. They will have priced these credit / management cost into their bid for the contract and it is therefore coming out of tendrara in an indirect way.

The cost of the LNG plant always looked high to me, now it is clear why.

I know it is looking a lot better but how many more entities are going to be taking a piece of the Tendrara Pie

Gas off taker 13 million loan
Exim
Italfluid
Sinmarco
Italian Simest

They are all in this to make money. Why not just sell the asset to a Major and cut out all of these middle men

Starting to get a little cheesed off. As each part of the deal is announced we get another mouth to feed.