Member Info for GoldAnOil

...to me that if the Affirmers work as SKIN suggest, there will be others developing 'Breathalyser' tests which will need Avacta's product. The potential market is limited only by the ability to produce.
Good news for the all.

...stop being naughty and make friends again!

Or as a grown up would say,

Grow up!

0.8555 / 0.8999
as expected.

...Not sure I like this deal!
Yes, it gives us much needed funds and SHOULD see us through to production and income. However the terms leave no margin for error and could be seen as a way for someone to take over the completed asset at a bargain price.

'The Company is seeking to raise up to £12m through the issue of a senior secured debt facility which will be secured, inter alia, on 100% of the Company's and SEL's working interest in the Field. '

A similar situation as Cosalt a few years back when David Ross provided the company with a secured loan, saw it go bump and bought the newly refurbished profitable bits (Ballyclare) from the receiver for a pittance.

Not that that would happen here of course.

...buying opportunity for those who have faith in the company.

...expected some reaction here at least! Good news though all the same.
Oh well, off to the day job.

...down 72p!

Is it my poor eyesight or are the two RNS's released this morning identical?

... to follow a regular pattern here.
We may well see 20p again, but with each fall back, we rise again to a new high, well as ZOE anyway, and that can only be good for the LTH's, many whom are averaging mid twenties.

...some people are missing the reasoning behind IOG's original business plan.
As Mole points out, there are many stranded assets and small fields, which the majors and others deemed to be sub- commercial back in the days of manned rigs.
With the proliferation of unmanned rigs, the cost are cut dramatically. This, combined with flexible tie-ins to the major pipelines to Bacton, including our own and others, means that many of the relinquished, unprofitable licences are now viable.
That was IOG's reasoning and even without DELT's assets, which sound promising, (as did Harvey and Skipper), but need proving and developing, there are plenty of targets available. The skill is identifying the ones to pursue.
Personally, I'm of the opinion that we should crack on with our existing plan and if the price is favourable, add the DELT areas to our portfolio for future development.
I agree with the point regarding price. The fact that somebody paid around 3p for 16% of the company has no real bearing other than the fact that he must decide if he is happy to see his investment actually achieve something, or sit on it and wait for a better offer.

...didn't tell us anything new really, just steady progress towards the various goals.
'The company continues to have sufficient cash resources through to Q2 2021 under current plans.' was a positive statement and questions whether fund raising will be required in the near future.

...RNS from DELT this morning.
Didn't actually say anything that wasn't known already, but sort of tried to add value by telling the world that they had some new licences close together. I get the feeling they want IOG (or others) to be so exited by this 'news' that they lose control and bid way over the true value.
Maybe they need us more than we need them.

...tomorrow.
The BoD need to explain the thinking behind the RNS as there are far too many questions raised.
We are a relatively small company, with a reasonably good path ahead of us to profitability. A T/o would need finance and large future expenditure if the DELT assets were to be developed by IOG alone. This would mean dilution in one form or another and I wonder why the BoD are considering this at this stage of our development.
There has to be more to this than is apparent, as on our own, we cannot afford the price DELT will expect.
Can we have a full statement of intent and rationale this week please!

...the DELT posters are valuing the company at around 5p a pop, giving a valuation of £70m+
Can't see the offer being anywhere near that, that being more than our current mc. I really can't understand the rationale behind an offer, unless CalE are trying to take the whole shooting match without being too obvious. Certainly the reserves (if correct) would be a big boost to the future potential and the enlarged company would provide great synergies, but all they are bring to the table are some promising licence areas and a lot of risk.
As purely an IOG offer, I agree that we are getting ahead of ourselves, if CalE are backing it, IOG is at risk of being swallowed up.

...A little clearer now.

'Deltic Energy PLC materially increased the estimated volume of gas compared to previous estimates and increased the chance of success in the Selene prospect in the P2437 license area, UK Southern North Sea. Results from this technical analysis have increased P50 Selene gas initially in place (GIIP) by 44%, to 629 bcf from 437 bcf, while simultaneously improving the geological chance of success (GCoS) by 79%, the company said. Deltic is operator of the license with 50% interest. Shell holds the remaining 50%. ' (Oil & Gas Journal Aug 11th)

P2437 is just North and to the East of IOG / CalE's P2438, close enough for a future tie in.

Could be that this is the main target and other fields may be off loaded. The fact that Shell is involved is interesting, yet another link with a major.
More to follow over the weekend.

Well that was a surprise!
I noticed that Deltic (nee Cluff Oil), were approached with an offer earlier in the year but didn't pay much attention as the BoD rejected it out of hand.
I feel that Deltic are in the market for some hand holding and would not be seen as a possible producer, however the timing so soon after Round 32 suggests that IOG have spotted something promising and want to gain reserves for the future.
Could possibly turn into a bidding war, not something I'd look forward too. Also the new Deltic areas are well north of IOG's pipline, so would require a fair amount of expenditure to tie in to Bacton.

I'll have to look more closely at the deal from both sides and I note that Deltic have not commented on the offer.
Certainly was a leak though!

Loon King is good every week, best Chinese takeaway in the area!

Thanks for the L2 information.

HL are having a bad day today, can't buy anything.

Cant buy at all on HL.