Member Info for Genghis15

Problem with his strategy is that once the tender offer has closed, who is going to buy the shares? Few will be interested the loan notes, which a ST notes "have limited minority shareholder protection". Read ; mone at all. A BoD willing to shaft minority holders as is happening here is quie capable of separating the notes from the assets and rendering them worthless. Imho the only option is to sell, tho who is buying I have no idea.

The only way I would buy now is if the price were sub 30p, and I could tender my shares at 60p and basically get the PIK notes free.

Accordingly, I sold yesterday.

I have also written as suggested. But I fear it won't do any good, they will have ensured they are within the rules. Sold today.

Https://www.lse.co.uk/rns/DNA3/sale-of-assets-prnn033n3el3ce0.html

Keep posting, demon. Ignore those who only want a bb of the faithful. Critical thinking is essential here, not dumb cheerleading ; this is investment, not following a football team.

Talking adjacent blocks in the Kwanza

https://www.investormeetcompany.com/meetings/investor-presentation-869

I suspect this is the reason.

Https://www.investorschronicle.co.uk/content/6740321e-14eb-4e0e-8285-69f917c678de

The 30 day rule applies to known events. It is perfectly possible for drilling assays to return to the co and be announced at almost any tine, without breaching the code, as long as the directors dealing were unaware of them at the time.

Next 3 weeks should see some news. Segilola u/grnd drilling due any day, Q1 update by around mid July, and dates for the second quarterly divi soon after. perhaps.

Also woth remembering the wording of the divi announcement "dividend policy of minimum of C$0.0125 per share per quarter" and "· Dividends will normally be paid on a quarterly basis at an amount of C$0.0125 per share each quarter, with the ability to increase the dividend amount based on the Group's cash reserves at the end of each quarter."

I wouldn't expect the divi to be uplifted so soon, but they've certainly gone to pains to emphasise that 2.5c CAN is a minimum.

Myles has blocked me on x (I have no idea why) or I would have pointed out to him that the announcement does NOT say the no of subnets is limited for "the foreseeable". It clearly says it is a "temporary" limit.

So his talk of "fimite"subnets of ever increasing value needs to be heavily qualified.

This has long been the assumption

Https://theoakbloke.substack.com/p/nesf-is-it-crackin

"NESF is a snake eating its tail. Quite quickly. "

Well, HL now quoting 45/43.50. Close that predicted 46.

So much momentum here i can't help wondering if someone's stake building, tho I have no evidence of it.

Means nothing to me, I'm a fundamentals guy. But I recognise it's good to have the chartists onside, can only help the Sp along!

Read, and re read. Exceptional clarity over cashflow for 3 FYs is highly unusual, truly exceptional, in a junior with potentially multibag assets.

"We ended 2024 with approximately $8.4 million of unrestricted cash holdings (plus we had a further $1.3 million of restricted cash, which is money held in support of work programme performance guarantees and bonds, and which will be released back to us over time once work programme commitments are fulfilled). Against this robust cash position we have no debt, our "burn" is low (as noted, we target keeping it below $2.4 million per annum), the minimum work programme on AREA OFF-1 in Uruguay has been completed and our share of costs for upcoming 3D seismic will be carried by Chevron, the work programme for AREA OFF-3 is modest, and we have no unfunded forward work programme commitments.

This is significant, in that it means we have adequate financial resource available to ensure that all currently expected costs and future operations for all of 2025, 2026, and into 2027 are fully-funded. This level of clear financial runway is a relatively rare situation for most "junior" E&P companies, and certainly puts Challenger Energy into the best position, capital-wise, it has been in for quite some time. This does not take into account the possibility of additional funding inflows in this time frame - with AREA OFF-1 we have retained a relatively large 40% working interest and thus the ability to farmout a further interest in that asset; with AREA OFF-3, like with the AREA OFF-1 farmout, we will be seeking a cash element to any farmout transaction. Success in either case would secure the balance sheet even further into the future."

The fundamentals are good here, but the BoD get hungry forb groth and every couple yesrs or so they raise more, always at a discount that drops the SP/.

Imv if they can't raise without driving down the SP thet shouldn't be raising at all, but that's how it is. Shame. cos everything else about this co is pretty sound.

Or they will roll over.

Good news on Sea Edge today. With recent director buys I'm feeling confident of a decent rise in sp at some point. Obvs it all hangs on Arquiva, which again hangs on its contract renewls. But it all looks good to me, potentially a significant undervaluation here? See OB view here https://theoakbloke.substack.com/p/arqiva-3q25-update-dgi9

I would certainly say so. As CFO he will have good visibility of future plans of MLE, Douta, and (one hopes!) some pretty detailed and robust financial and cashflow forecasting.

I already have great confidence in Segun, this is just one more positive in a sea of them for this company. i had toyed with a top slice, but have now dismossed that idea until 50p at the least is in the rear view mirror.

Well, if the CFO thinks 38.5 is a bargain, I'm not gonna argue.