Member Info for GT6546

Dunno, perhaps they own some oil and gas licences there? They do have a Mexican subsidiary, which is obviously also in South America.

Re, share issue authority, do ADME have current power and authority to raise funds through a 'rights issue'?

Re, share issue authority, do ADME have current power and authority to raise funds through a 'rights issue'?

I would like to have seen more detail there on what oil and gas licences in Grenada they were appraising, why they received an advance of £650,000 for it, and why it is also repayable.

[See 'Notes to the financial statements For the year ended 31 December 2018', paragraph 7]

That name looks familiar.

Reassures me to see a major investor such as RG et al, up his stake from 6.87% to nearly 10%.

From the look of their prior TR1 they appear to have bought the initial 6.87% stake on 17 April '19.

That's AFTER the price plummeted in early April to what some people might describe as a bargain price.

Looks like that Warren Buffet saying in action - 'buying when others are fearful'.

JOG still looks a bargain, in my opinion, based on their levels of cash and m/cap.

Ohhhh!

13:46
27/06
Buy 18266032 0.17p £30,906.13

13:43
27/06
Buy 18266032 0.17p £31,052.25

09:52
27/06
Buy 6000000 0.17p £10,020.00

JOG highlight early on in their presentation on page 2:

? Year-end 2018 cash position: £19.8 million
? 2019 CAPEX guidance: £6-7 million
? Well funded for potential future drilling activity

* At market close on 26 June 2019

JOG:LN – AIM Quoted
Market Cap* £12.7 million
Share Price 59.5p
Shares Outstanding 21,829,227

Richland's RNS says:

"Lock-Up and Orderly Market Agreement:

· The Consideration Shares will be subject to a lock-up arrangement, to be entered into by Astor and any other party that receives more than 10 per cent. of the Consideration Shares, such that they cannot, save in certain limited circumstances, be sold until 6 months after the date of the lock-up agreement and in the subsequent 6 month period can only be sold under the terms of a customary orderly market arrangement."

Fura's announcement on Nasdaq says:

"The common shares of the Company issued to the Vendor in connection with the Acquisition will be subject to a regulatory hold period of four months and one day from the closing of the Acquisition."

Looking at Richland's RNS again and Table 2, the proposed includes receiving cash and shares in Fura. No cash equivalents. Lock in period of 6 months on the Fura shares. Would give Richland exposure to Fura 's future share price performance

Fura announcement also just recently published on Nasdaq.

Have just found it, and am reading it now:

https://www.nasdaq.com/press-release/fura-announces-oversubscribed-cad3092-million-private-placement-and-acquisition-of-australian-20190627-00241

Their taking fees in shares for a wee while? That has my vote!

I think they will also need to give investors some rough idea soon of what new direction they might be thinking of taking the company in in future.

Table 1 gives 'Total Liabilities as at 30 June 2018 US$606,000 (disposal group).

And US$799,000 for Richland Resources Ltd.

The cash loan, which Richland quote in £'s, and which is proposed to be potentially repaid if the deal, all the conditions and consents go through, is presumably included in those figures. £1 is currently worth about $1.2715

If the deal goes through, could a new, fresh cash shell Richland Resources Ltd end up with a much reduced (even negligible liability figure) and a positive cash/cash equivalent balance?

All of them. But particularly:

[Table 2]

"Less: estimated value of Loan at Completion to be repaid in the first instance from the Share Consideration and then from the Cash Consideration' ( [£] 527,045) [GBP]"

and

"Maximum total Consideration receivable [£] 327,024 [GBP]" [i.e. after deducting repayment of the loan]

The figures in the tables are worth a particularly close look.

"The loan note holders are clients of Optiva Securities Limited and the Company will update investors in due course should any loan note holders hold a notifiable interest in the Company."

Conversion Notice

Issue of Equity

I watched coverage of it on the Al Jazeera television channel (Freeview 235). They are giving it more prominence than UK broadcasters. Impression I got is it was a potentially serious, but relatively minor flash in the pan.

During minor unrest in the past Ethiopian people are said to have rallied to the defence of Kefi Minerals operations.

I personally think as long as Kefi Minerals ensure they re-double their efforts to ensure the Ethiopian government and the Ethiopian people alike get to share meaningfully and substantively in their operations and project there, that will help build a strong foundation stone of support for it.

Does anyone happen to know if ADM Energy is the ONLY energy company in the world with a stock market listing that His Highness Sheikh Ahmed Dalmook Al Maktoum is President of?