Member Info for GeoChem

Phil, exactly my thoughts as value will be decimated by any placing. So if you are a clued in investor you'd buy in after the placing when the SP is tanked. I checked the other day, Cannacord Genuity are already listed as a major shareholder dating back to before this period, this guy works/worked there and adds a 15 mil buy... ? I still stand by my analysis made a couple of weeks ago but we'll soon enough find out. Canadian majors are Suncor, Husky and CNR, Enbridge are pipelines mainly I think. Scrub BHP as a prospect, they have mining interests in Argentina. Far East gas Co's might be possible too but everything is speculation until we know.... RNS soon, EO Jan... ?

Of note this morning. No RNS to state "the directors know of no reason.... ". Often happens after a sharp SP alteration... ?

Just FYI LTH's, I put in a limit sell for a micro-chunk at 1.2p to run a flag up the flagpole directly after the RNS dropped. It got taken out after hours at 1.25p?!? That was awfully nice of IG to give me more than I asked for but maybe indicates a forward path for the near future... Hello again rpoodle, sorry you left but it's been extreme BoS to hold here against the losses for all these years, dead money looking for the end of a rainbow! We'll all see how this plays out now, continued hoping....

Hi Phil, like hot cakes as they say, yes could be OR not.... gather he is maybe something with Canacord but also classed as insider in a range of mining/resource companies. V. interesting. Of course, Canada is my favourite destination and will this land me a Big White Ski condo, more likely season pass.... !!

RNS out, welcome Mr. Brimacombe...

Hi Gus, all, .... This has been going on for quite a while, with an odd hiatus. With our depressed SP some very big trades look normal-ish when today there was a 900K and 460K buy however they don't look normal given the stated position of the company. I'm posting out of trading hours as I don't want to be accused of ramping but something is clearly cooking here. We will know soon, I note two RNS's for trading extension. As Phil always say's, this is a binary share, lets hope the LTH's win out of the near future.. ATB.

I don't post here often but... I've been holding for c.9 months having had EOG on my watch list for about 3 years. My hold is all about the Irish acreage as it's transformational. Any progress there and this goes ballistic. I'm not wild about Morocco, there's low COS there in my view. But, Wressle is a surprise win for EOG. I'm a O&G pro so I know how it works. We are kind-of on hold until we get the CPR. Current reserves won't justify another well, but an upgrade will allow a second producer to be viable. Frankly, [IF] £6 million a year comes in EOG could drill a UKCS well offshore in about 12 years time. With another Wressle well backed by viable reserves EOG could get there in 4/5/6 years and be capable of attracting a partner. OK... placings, not good for LTH's. So, to my mind, get the CPR and focus on Wressle for now. If the CPR doubles reserves, drill another producer... just my tuppence worth - ATB.

Gus/Anth, all decent points and agreed. I suspect [3] is most probable but to some degree in the past. We heard a while ago that HO was off to the states. Oh I instantly thought, farm-in with US major/mid-tier... then though O-Oh, Pimco [or such] for warrants/PP, but then, silence. The thing is these boys always want a fair bit of coinage to advise/promote/place such products and B&S not have such. So my comment about RNS was that it's so tight on the timeline that IF a rights issue was the only way through it probably would need notified V.soon. So, as time has passed, it's plausible that they went back to a old farm-in discussion and saw a chink of light. OR... they've had an offer of buy-out, to&fro to the institutions, "would you accept X.X£?"... And, it's all dragged on a bit. Now, it's getting too tight to do either/either..... Bluntly, I've got no idea but I see a endpoint imminent. I've held for about ten years and I lost 90% holding from discovery. I gambled on a falling SP, sold-out and rebought on low points to hold up to 80,000 shares. I sold up to 90% of holdings on rises and bought back in doldrums. I'm currently holding 200K shares at ~0.95p. Nice win would be good, rights issue and I'm gone at a [hoping} 50% loss.. CeSeraSera.... it's pretty much an each-way bet at this stage but I'm hoping LTH's get some kind of win. ATB- to all.

Hi Intoodeep, agreed, the market points downward and I have no inkling of what will be happening. All that I do know is that the company told us a fundraise was likely by the end of January but there remains no indicator that it's happening. I've held here since the Darwin discovery, in varied amounts. I'm simply looking forward to a conclusion soon. If they fundraise, it will unquestionably be horrific and I'll be off, a conclusion for me. It remains a possibility that something more positive could appear, in which case joy but as Phil stated - it's an binary share. All the best, I'm not ramping, just glass half-full/empty!!

Hi Phil, .... and the pregnant silence continues....

I expected a RNS today.... ATB.

484 million shares placed at 0.2p per share on a 1 for 1 rights basis raises £968,000 - 1 year of operation cost +/-. No placing, nobody [including me] would contemplate it. IMHO.
Sale - 6p+ / Farm out / Hostile bid are only options IMO. Folding highly unlikely due to asset size/value.
Anyone think of any other route? ATB - Geo

Hi Anth72, I think it was you who said the insti's wouldn't like a lowball buyout as they hold 30p+. What strikes me most is that we are so very close to their own self defined deadline of e.o.Jan. Yet, no fundraise in the pipes that they would have to notify of, well in advance. It still could be something else but there is a clear[ish] deadline here. IF they are at an advanced stage of farm-out it might explain the complete silence and lack of any need to fundraise. I've gambled on it, it's a strange circumstance. We should all know the answer soon though. ATB. DYOR, all IMHO.

Also.... curious that buys/sells are disappearing off the LSE site. My buy vanished yesterday at the end of the day though it was there just after the trade. It was shown on the London Stock exchange site though, could just be a London SouthEast thing.. but, same thing happening today.... ? Added 36K shares yesterday. Best regards to all the long termers here.

Agreed Gus. Time.... soon I feel. I'm leaning towards farm-in with the timing close to the wire. The comment about the institutions being in at a much higher price means a bid, even at a generous premium to present SP, might not roll through easily seems true. I'm also inclined towards farm-in given the radio-silence and proximity to that time. Farm-in would mean back costs reimbursed which would give a healthy MCap... here's hoping....

And... I note busy day on the trades today, with some odd pricings......

My point is that any fund raise would need the paperwork disseminated well before now, yet we still have radio silence. I've had a concerted hunt for anything such as warrants/placing and there is nothing out there I can find. I think the company would be obliged to inform if they have plans not involving confidential negotiation so everything seems poised to me, either way we will have to know soon... here's hoping for a happy ending - best to all.

From the last report...
4. GOING CONCERN
The Company regularly assesses its liquidity and available funds to ensure that it has sufficient funds available to cover
costs for at least the following 12 months. This remained the case at 30 June 2021, however, as noted above, the
Company intends to secure additional funds by the end of January 2022 in order to continue operations as normal.

And still no word... happy new year all - Geo.

All, I was about to post last week when I saw the massive trading day so held off. I was about to post that I wasa encouraged that there were no documents for a fundraise yet lodged, did this mean they were close to a deal that avoided that. That's still the case. It could be something else of course, maybe warrants/private placement but I'd expect some kind of whisper. As they put Jan as a deadline I'm encouraged that we may be close to some news and yes, the only logic is a sale. ATB - GeoChem.

Hi Phil, I'm viewing it as a balance sheet /reserves exercise for a mid-tier oil co. It's an undeveloped [albeit substantial] reservoir in a remote environment devoid of infrastructure/support networks distant to market. Their mistake was that they did not test [DST] the well so all data is MDT and seismic interpretation based. It's simple logic that it's far cheaper to make a play for the entire company than to farm-in. I've stated before, given BOR's situation, about 6p a share comes in at circa £30 mil and may be enough to allow the institutions to cut their losses. The only hope would be a competing bidder which could push it circa 10p, then dollar convert. Nobody involved is relishing a fund-raise at this sp, I've run the numbers and it doesn't look pretty. Best Regards - GC.

Gents & others, I have been here since the discovery and lost a lot back then, but I've traded about even - I've never been out of BOR. I presently hold a insignificant 150K shares so I'm no big cheese. I'm also a 41 year O&G professional so I may know my onions - get it! There could not be a better market position to do a deal for BOR but there's a significant headwind. getting a rig to the SFB will result in a well cost of ~$70 mil , say $120 mil for a two well/sidetrack programme - aint going to happen for a farm-in. BOR is worth $30-70 mil in asset value, so you buy the company. I checked recently, but all the majors have interests in Argentina so, with sanctions, it won't be a major. I'm in to the end too, it's either 6p-12p a share or zip, high risk all-or-nothing punt. Thankfully, I also have BP shares. Best of Luck to all, let's all be kind - GeoChem.