RE: RE: I wonder what a take out bid would be?27 Jan 2023 14:56
LTT, not sure you are right on all. Reason why we got no real deal for many of those years was due to the global recession, low oil prices and covid- this took away several years. What has changed is the Russian invasion, lack of assets like Darwin globally, the need for European and UK energy security, increased oil prices and huge demand, and finally a revised development schedule for Darwin making the development cheap- super cheap by oil and gas standards. My one big criticism of the board is whY didn't they do this years ago ........... We only actually need the money to appraise and drill the other 2 wells, if the appraisal goes like it should do ( and it should do, our asset is highly liquid) then we can easily get finance to start pumping. The board will get off take agreements in place and borrow against this to commence the project. The original drilling costs could me met my convertible bonds to mature in a few years and let's be honest that would be grabbed at with the 99.99% chance of an increase in share price. Lots of if's and maybe's but possibilities, possibilities better than a farm out.