Member Info for GeneralLevy

Currently and imho, there can never be a takeover by anybody with the current stonewalling of loan terms and conditions information (nor can there reasonably be a farm in without that information for that matter), bwtfdik aimho gla

Potentially the same lack of transparency to any potential farm in suitors regarding disclosure of the terms of the loans is also the order of the day? I find that you never normally hide information from potential buyers if it would help a sale, so it’s not a great leap to infer that the terms of the loan might contain something undesirable. GLA

And iog will be 3 days closer to being owned by a company that has entered administration unfortunately

The date when the administrator would possess the majority of shares

The administrator ploughing through 2019, 2020 and 2021 just makes the ownership of iog passing to the administrators more likely unless I’ve missed something

Between 2019 and 2021, and rather disturbingly, nobody knows the dates...

So iog basically have to come up with £58m by the end of 2021 (does anyone know the exact date) or the shares in issue are in excess of doubled and the company is in the ownership of the administrator. It’s not a great position to be in to attract a farm in imho

The £58m figure mentioned in iogs rebuttal, does that figure include interest which hasn’t occurred yet? GLA

I can’t make head nor tale of what shape iog’s finances are in gla

I honestly think RRE will have more cash than they could spend on new acquisitions and decom liabs and that regular dividends will be paid GLA

As the DSA will take account of the decom liabs and the opex takes account of the cost of producing the hydrocarbons including maintaining the infrastructure presumably,, I’m leaning towards the $30m or at least bulk of it being profit? GLA

The Donald forces a lot of his own U.S. companies bust at circa $50 WTI, which inevitably causes a rebound in oil prices shortly after, he’s a bit of a tool all things considered

Looking at the 2018 year end figures of marathon, Average Production Cost per Boe looks to be $30.02, very similar to RRE. Should be a good fit? GLA DYOR

How long do these things typically take until readmission might we be waiting until June? GLA

I make it about 3,600p on current oil/gas price and exchange rate, but happy to be corrected GLA

Toot toot! All aboard, the GAIN TRAIN. Next stop p/e of 5. Toot toot! GLA

That’s not all I’ll be sniffing when this hits 800

This should be at £30, bwtfdik

It reduces the yearly decom liab, increases the probability and extent of a capital return imho bwtfdik

Excellent point, capital return was mid feb ‘18