The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Given ADM, Zenith and the Nigerian outfit have zero cash between them where’s the compensation coming from and for what ? To be compensated one has to demonstrate a financial loss. Given the CPR on Barracuda it’s a liability missed not a loss incurred. A Never ending farce this.
They have a commitment 3D in this period. Clearly this can’t be shot before September even if they closed a deal next month. So despite IOs ever more hysterical protestations an extension agreement is required before anything else.. The block next door, 0029 is still open since it was taken back from GBP ( for failing to acquire a commitment 3D ) so why wouldn’t any major interested in this area not simply take 100 pct of that?
Mpd12 exactly the point
GBP have to secure a farmin and funding by this September. If they manage this then they can try and negotiate yet another year extension in order to plan and shoot the 3D by 2023z
What’s the chance that Namcor will give them one more year if by the summer they have no farmin partner hence no funds for the 3D and no willingness to raise 3D cash themselves.
The chance imo is low to zero. So it’s farmout or lights out.
Tony a rationale which suggests people should be always be rose tinted and optimistic or ‘do one’ pretty much invalidates everything that would ever be posted on these boards. It’s the kind of please don’t sell before I do desperation one sees when companies are in their death spiral. What the point. If you don’t believe what you write why expect anyone else to do so.
So IO are you saying the extension past September is a given even if they fail to complete the 3D work programme ?
Is the extension therefore already baked into the SP?
If it isn’t baked in then folks are clearly not sure. Time will tell.
Spud where on earth I they going to get the money for 8 side tracks?
They need to stop the carnage and bring in a competent operator via farmin. Any suggestion of milking shareholders again it’s time to run for the hills.
Phoebus the cash position was $2.6 mm last September after the raise. So given they burn on average $1.5 mm per year come this September they’ll be at around $1.1 m cash in hand. If there’s no extension that’s all there is. That’s the issue.