Member Info for G_G_G

Wow Asos really is getting worked over by the City. Incredible how these articles get written by journalists who no doubt are receiving kickbacks from funds and IIs. I'd love to see some investigations into these slimy f@cks and how they're in cahoots with one another. The Great Recession was guided by bankers having the media in their back pocket. Should come with criminal charges.

Why would they have allowed the cashless exercise rather than taking the circa £750k for the full allotment of options? I can't quite work out the benefit of doing this.

So does anyone have an answer to how much cash (if any) was raised by the options today? I've re-read the rns 3 times now and still can't be sure. It's a pretty important thing to know given it will add cash to the coffers.

Ronnie, why £6.50, why not £7.50, £10, £1 gazillion...? And who's going to bid this imaginary number you've just made up? And why would it be accepted after a fundraise and a rejection of £1bn (+£8.50 current share count)...?

Dbno, I would hope the bounce will take the company well past £500m mcap if good news is shared. People need to keep in mind it was trading at £750m mcap just 6 weeks ago with no sign of a turnaround. If they can show evidence of the turnaround plans working the re-rate will be very strong. Perhaps up to 50% from this level in a matter of weeks. GLA

neil, i don't know why you keep banging on about mike ashley. the biggest shareholder here is povlsen with over 26% that puts him near the 30% t/o threshold and makes the likelihood of admin very low i.e. he's not going to let the company go bust and have someone take it for a pittance after admin. he is also why the £1bn offer was rebuffed - they wouldn't be able to get the deal over the line without his votes. and, he's the reason why ashley couldn't pick up another 5% for £75m because he interjected and arranged the recent ****ty (for shareholders) financing offer. so if this does go into administration, which is highly unlikely, povlsen is the most likely buyer. ma is bringing down his average and putting himself on a rival footing to povlsen as he will need closer to 25% if he's going to be able to pull off a deal with the other 'kingmakers' like elliott, or block povlsen from taking it himself. major holders can accumulate all the way up to £8 and still be buying for less than the recently rejected offer. the question is where the sp will settle in the meantime if they show evidence of a turnaround in the next set of results this will rocket and i believe a bid will be made soon afterwards by povlsen.

fwiw i'm in for 22.5k shares at 380p. i got spiked yesterday so now lowering my average. it's a brave trade but some good results in 2 weeks and this will be 20-30% higher. aimho gla

Wow 650k dumped in the 3's...? Someone desperate to get out. If no word from mgt on anything remotely positive - even an update to say 'we're waiting but positive on discussions' - then £40m mcap (3.9p) is likely to be reached again. If we're still waiting in another 3 months then you can expect £35 then £30m mcap levels to be reached. This share reminds me of ARS in how long it's taking to get certain permits. With ARS it's well known that Indonesia is corrupt as hell. Morocco has a question mark, but the delays here for the past couple of years certainly aren't helping its reputation for doing business. AIMHO GLA

Nope thehickster, looks like oil price down, i3e down. They really are dragging out the 2022 results. Can't understand why there's such a delay. At least the debt facility is sorted.

Anyone care to explain the rns today? It gives me a headache trying to work out how much money (if any) was raised by the exercise of the options.

Hi Mr Fibbles, yes I understand the theory behind buy-backs, but to be honest I'm yet to see one actually make a meaningful difference to a share price. At least with dividends you get paid something so I know where my preference lies. Higher yields also generally result in a higher sp, so divis work for me from that angle as well. Either way the bb is quite pitiful so would rather it spent on paying me a higher income. AIMHO GLA

This company is without doubt the most illiquid I have seen for one with a £400m mcap. It's ridiculous really. Mgt also need to stop p!ssing about on the buy-backs. You max your buy-backs when the company is most under-valued, like now.

O&G prices up and likely to continue. i3e down. Head scratch.

One thing's for sure, Povlsen holds all the cards. From my pov he's the only player that can take the company lock, stock. And if not I'd imagine he'll take a bigger slice with another player. Frasers or Elliott would be the only other majors that could team up to ensure the buy-out given their stakes. And given how Frasers got f@cked in the equity raise by Povlsen, I'd imagine they won't team up with him in order to take it private. He basically blocked the better avenue to raise cash from a shareholder pov and cost the company far more money given the amount needed to pay fees and interest on the new facility. So if anyone's a buyer, I'd place my money on it being him.

happy, one could also say they've released old news to try and boost the sp so they have a bigger buffer to fall on the back of another round of **** results. or, there could be another predator sniffing about and they're positioning themselves for +£10.

Sorry meant to say well test.

Has the company announced when the next drill is expected?

Have to say the mgt of this compnay don't have a f@cking clue. Anyone could have seen 12 months ago a raise was required. Even 6 months ago there was a ton of speculation. So to wait this long, when you've had a bid (no rns btw) and not raise at 50-100% more than the recent price is simply unforgiveable. They could have raised a hell of a lot more for the same amount of shares and completely shored up their balance sheet.

I'm surprised the company didn't release an rns on the back of the December offer. I'm also wondering if this old news has been released to the market because another bid is incoming and they're trying to jack up / force a +£10 bid. Sadly I got spiked this morning at 395p (yes I'm an !diot). Not sure the direction of travel here now. Mcap appears to be anchored to £450m. It could go to £400 or £500m in the absence of news. And if I'm right about another suitor then £10 appears to be the marker laid down today.

Isdeer, it's only worth what someone is willing to pay for it. That amount is always going to be lower than we think as it's in UK waters, not to mention the tricky geology (as we all know), and the up-front capital investment to get our 4kbopd. It's currently worth nothing to our sp. But an extra 1-2kbopd (oil) that can be generated within months from selling our Nth Sea assets is worth quite a bit. I'd also argue that whatever the cost is to develop Serenity for 4kbopd could probably generate the same (or more) within a much faster time period in Canada. There's literally nothing to gain from holding the assets and I certainly wouldn't go near EOG when we have hundreds of undrilled locations with +180m 2P reserves in Canada that can be developed cheaply and quickly. AIMHO

Fwiw I think we should sell our Nth Sea assets the second we get the chance. I have no idea what they're worth, but even if we're to pick up $15m I'd drop them. With that money we can drill in a matter of months 1 kbopd (oil) and prove up more of our Canadian acreage. That production will pay itself off in 9 months and will generate more cash to drill more wells for many years afterwards. By the time we get around to doing anything with Serenity we could already have made multiples of what it would deliver without any finance or regulatory dramas. This sort of thing takes years. I also wouldn't touch anything in the UK. This country is run by absolute f@cking clowns who have destroyed a strategic industry and have provided no future guidance. Scary thing is the Labor party will f@ck things up even more. We need to drop the Nth Sea and focus on Canada imo. GLA

I guess you could say that Ferrisc. Thing is we bounced off the same support a couple of weeks ago. And like last time, if it fails we'll have the next stops at circa 4.30p and then 4p. Nothing more to it. I also think the direction of travel from now will be downward and we're more likely to break 4.5p then 5p in the coming weeks without some meaningful news about the permit. If we move below 4.5p (my average) then I'll top up. I'd rather not, but I do believe the permit will land at some point in the not too distant future so will look to average down on my already quite low average.

As per my last post, did anyone go to the AGM?