Member Info for fairdealer20

Draft it's a simple question. Where have all your posts on Delt gone?

There will be a date on which you must hold shares in order to qualify.

Documents supposed to be issued today will give that date.

serif try searching the previous 25648 posts. They will surprise you!!!

Excellent results. Proposals to probably enter the dividend list and share buy backs, will add considerable value to the Share price.
Good all round report.

AIMO

Jlost, in essence the way this placing and the last is giving greater control to a select number of people. This in turn could enable those paries to act in concert and take the company private. Ordinary PI's would have little or no say.

I identified a situation where I was a shareholder and exactly the scenario described, occured.

Is that clear?

Everyone will form their own opinion.

"not happen here"

God must have sticky fingers

"would NOT have it"

Purdey I mentioned it as did Dickupham 2 years ago when the last placing happened.

The potential is there based on pure numbers( a majority). When a group of investors work in concert ( have more than 50% shares) they can do virtually what they want.

It happened to me when in a company that had been lingering for 8 or 9 years ( I will dig out the name which I think has been changed). The Directors and major Shareholders acted together. First they issued shares that only certain investors could buy. Little by little this gave the group a controlling interest which they used to take the company private. Ordinary I's which included me were given 1 choice accept the price for shares we offer and that was it. It transpired the CEO another accountant like GS here, had acquired an asset which was subsequently valued and sold at 10x the purchase price. I and others remonstrated at the time even to the point of asking to leave our shares in the Private company. No the CEO would have it and ordinary PI's were just left with what the CEO and BOD decided to pay.
It should be remembered shares in a private company are not easily tradeable. The shareholder conditions are very rigid. in that usually you can only sell to another existing shareholder or an investors approved by the BOD. Not a happy situation.
The company concerned was SWP Group, which I believe has changed name.

JUst hope it does happen here, but the way certain investors are building stakes, am very aware of the possibilty.

Banbury your last sentence says it all...Dilution of potential bonanza.

Dick.. good to see you posting here. I well remember the last placing when PI's were cut out and as I remember your view majority control was putting certain individuals in a position of strength where Going Private could be a real possiblity.

You sold out and I remained. Must confess current events are making me review.

Documents, including application form will be posted out tomorrow to qualifying shareholders. If shares are held in a Trust account with Broker. the docs will be sent to your Broker who should notify you immediately.

correction
1 new share for evry 24 held. 41600 for every 1million held

2 investors are slowly but surely getting control of the company.
Michael Spencer is subscribing for up to 143million new shares he currently holds 227million, in other words he will get
1 new share for every 1,6 held
Richard Sneller is subscribing for 43million new shares. He currently has 140million. So get 1 new share for every 3.25 held.
Richard Sneller is a relatively new Investor

Ordinary PI's will be entitled to 1 new share for evry 29 held. If you hold 1million you will be entitled to 34500 new shares

This illustrates how control of Delt is going away from ordinary PI's, started at the last placing in 2020.

Well would you beleive it?Yes as I have been warning for a while. Ominously Draft who defended the management as having done a "cracking job", has sold up and disappeared.
Well done Draft you fooled many here and now working the oracle on EOG.

I do wonder how Swindells can sleep when ordinary PI's are left with crumbs.

Michael Spencer, again is protected.
Banbury I am more than P'd off

Tony, I am a SH in both and read both boards. I do not wish or see any point to encourage hostilty. All I will say, and there are many culprits, "if the cap fits, wear it"

Ark, I disagree. If you have not, you should read the EOG board. This whole rediculous debate started there with some deliberate, and calculated posts designed to challenge the creditbility of shareholders.
Any contention that mischief is being purpetrated, works both ways.
Remember I3e were pleased to have a Farm In partner (EOG) and now having funds available the same partner or at least it's Investors are being rubbished.

Grow up people.

Serif, spot on.

Time as always will tell if we are right or wrong with our intuitive thinking.

There are examples of timelines for sidetrack drills. 30 days is the average, Equinor(then Statoil) undertook a sidetrack on Verbier in less than 30days. Much depends on the geology and depth.
All we can go on are averages of which 30 days is a number to factor into costs. If less than 6million, fine.

Is a late addition the responsiblity of our partner(i3e)? If so it casts doubt on the expertise employed. Or could it be I3e are totally confident in the initial drill and EOG have other opportunities on the horizon?
Food for thought!!

VHB, lets trust those fruits are big and very juicy!.
My concern is the high coupon rate agreed, to a partner.

Minimum daily rigs costs of $200K. Sidtracks, depending on geology and depth should be achieved within 30days.

In the current frenzied environment rig costs and availabilty may well exceed $200K/day