Member Info for gmed-2

True, Trafigura will get a good chunk of the cash flow. But it's not as though they get the money and we get nothing in return. It's being used to pay down debt, which is good for all of us longer term. But i don't think you should count on seeing any dividends for a while haha

Nothing wrong with a company being forced to pay down debt that brings in less than it costs. Hit on the cashflow sucks for the shareholders in the short term, but can pay off nicely longer term. Besides, what's the alternative in this case? The pre-restructuring situation was untenable.

At least there's some movement. And I do like the part about the 80% payout.

Aside from the fact that I've reached old age waiting for some real news here, all good here, thanks. Good luck with the coming matches. And don't forget Cape Verde haha.

Did you have anything on Cape Verde, Funky? Don't know what the odds on them tying were, but I suspect a small bet would have paid off very nicely

Good observation about the rns and notice, PB, and, actually, I think you're right about the lenders. We had this discussion a few weeks before you joined this board and I made exactly that point. The big lenders are just that: lenders, not gas field operators. So I'm cautiously optimistic. But I'm also from the "I'll believe it when I see it" school, so the restructuring notice can't come soon enough.

It's fun to speculate about the company's future, but at the moment it's all meaningless talk. The real question is who will own all these riches when the restructuring deal is revealed. Just a reality reminder.

Optimism has always been one of their strongest points. Who remembers "and then we just have to turn on the tap"?

The only explanation I can think of is these restructuring meetings are held at the pub and they never actually get around to discussing the restructuring.

Thanks, Basher. The presentation is pretty convincing - makes me want to buy a few more shares.

Thanks BP. That's one thing off my busy little mind.

Bubbles, I'm trying to remember your old name before you reincarnated as BP. What was it again? Please tell me, because it's driving me nuts trying to remember it and I have more important things to think about.

Sounds encouraging. I don't like giving up the 50%, but considering the company's financial position, this was probably the best deal we could get.

Sounds plausible to me. Let's hope it's right.

Still no jam, but I think the lid on the jar may be a bit looser.

As options awards go, this is a pretty fair one for the shareholders.

Just can't keep a good share down. Supports my belief that good news must be on the way.

You do if you want the sp down to allow some cheap accumulation before good news, hmmm?

.....but never jam today.

So they defaulted. No one's perfect.