Member Info for Hallowed

"One reason could be "game over" if it is not done by that date."
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When I first read the the stop date being extended "from 30 June 2020 to 14 July 2020", I had to double check that 14 July "2020" was not a typo for 14 July "2021"...that was a relief....I can wait another 2 weeks to get confirmation one way or another and clarity on their plans moving forward.

"..... interes and repayments are waived ( for now ) ?"
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No, not waived, as far as I understood the interest would be capitalised as part of the repayable loan.

"You may have forgotten the CEO took 90% of his salary in share options for 16 months when cash was tight and wrote off $2 m of pension entitlements."
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You may also remember when he was drawing a £1m pa salary (if I recall correctly) which was extreme to say the least...don't worry about Potter, he's done well for himself unlike most LTH's here (unless they managed to trade decent sums) and now coupled with further potential dilution it doesn't look great (even if they announce a farm-in post merger).

Resolution 4: "....the Authorised Share Capital of the Company be increased beyond its current registered capital to having a share capital of £200,000 being 10,000,000,000 shares of 0.002 pence each."

It'll depend on what they have in mind to use that for...but generally often not a good sign for PI's as the potential dilution is huge.

Such a shame BPC didn't just progress as indicated after securing the CL's to cover drilling costs (and perhaps also secure a farm, and not 'miraculously' after this deal which is possible but the effect on the SP will not be as great as it would otherwise have been without the deal).

That's why this deal announcement did not srike me as great (and of course they always give reasons to everything but often not genuine).

It is what it is......that's the way the game is played at expense of most PI's

Rudey, shares issued post 2nd placing will keep the SP depressed... any good news will be sold into, unless we get a major (unexpected) catalyst for a re-rate in SP. Clearly the market sees us at 11 p-12p area and we could be stuck here for a while.

Will likely take many months to clear the second round of placing...and so SP will be held back.

Agreed. Bonum goes against himself by writing repetitive posts and it can be annoying. Each person needs to do their own research and take a view on the risk/reward.

"Well I guess we wont see a Death Spiral deal again....."
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One thing I do agree with CS on is that the environment is one where companies (deliberately or otherwise) enter into dilutive financing arrangements which limits the potential for SP increase - this means as a PI we are forced to trade (the right stocks) and not hold year on year (as the opportunity cost becomes too great).

Hoping that MB is conscious enough to not be 'swayed' to follow the herd in this way and instead stand out from the crowd and surprise PIs with a financing arrangement that adds value to the stock price itself.

MATD have a local investor and this gives me comfort they stay solely focused in Mongolia and not divert from this.

Assuming MATD will not rest on their laurels this year, there are catalysts to move the SP in H2 and so we place our bets and wait.....

We have an up to date CPR and so don't know what CS has in mind when writes "...and as things stand they don't have an up to date CPR to borrow against! - CS please expand upon this.

I can only go by what the directors report in RNS's (or in some cases lacking therein, if key issues are not being addressed or updated). Thus far, I think MATD has been communicating well enough....

MATD has reduced costs like most companies (given the recent orchestrated world event but that's a different story and one that I am exploiting, in no harmful way I hasten to add, as most people act out of 'fear' as opposed to out of 'awareness').

MATD has 33m barrels recoverable oil in Heron structure which is not insignificant and want to develop it (yes, the financing has yet to be arranged but I am glad to be getting in at the lower range of the company's SP evolution - around 3.5p as opposed to being at the higher end around 10-12p and so consider the risk/reward to be a good one).

Once they (officially) get the Exploitation licence and agree a financing route, the SP will respond accordingly - yes, it could take many more months but that's the way it is.

Bolivian, yes but it just restates what was already previously released in 23 March RNS. Nevertheless the increase in recoverable from 25m to 33m is very nice indeed (and that's notwithstanding stimulation techniques should they be employed). I think the commercial value of all this alone is slightly more than the current MCap .....looking good here.

The recent acquisitions (Uruguay+CERP) came out of the blue and unless the SP re-rates from here (as we were already at this level before the announcements) then clearly it has added nothing in the short term leading up to the #P1 drill (asuming this is what most of us are still here for).

About 2 years ago BPC was in talks with a major and for whatever reasons the talks failed and no disclosure even after all this time. What plausible reason was there for the failed talks (clearly BPC's lack of diversification was not the problem). For a major to invest $25m on a significant drill is a drop in the ocean. This lack of transparency is always problematic for making informed decisions on an investment/trade and so we have to rely heavily on what the stock price does going forward.

As mentioned, if we do not re-rate from here, then all we have in the period leading up to the drill is 25% dilution and any re-rate on an oil strike being watered down.

Farm-in by a major is still possible but how probable? IMO, sadly, less probable given recent events, the CL funding arrangements and possible 10% Stena farm-in.....

Let's see how this plays out now (as different mechanisms are in play).....

The exploitation licence must be in the bag and so it's just a question of whether it is formally issued pre 24 June (election date) or post 24 June. Nice pick up in volume - clearly this was being held back this morning.

If BPC did nothing except focus on the long awaited drilling of Perserverence 1 and finally closed a farm-in deal, the SP would have increased in the lead up to the drill and PI's would have made more money here reagrdless of the outcome of the drill.

Alas, different menchanisms will be at play now.... and PI's will not necessarily benefit to the same degree given the nature of the deal announced today (and when I read Trinidad, it brought back horrible memories of Range Resources and Peter Landau - not saying this will turn out the same way but certainly the market has spoken today as to what it thinks).

What a shame...

(Btw, nice to see some 'old' names still here like Bonum and Molokai)

"This is going to go nuts today ."
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Not as nuts as some of the posters on here....

I am amazed at the naivety of some posters here or they're being disingenuous.

I see there are no limits to AMC surprising PI's (but unfortunately no surprises when it comes to the share price).

I would not be surprised if they end up with a JV type deal....give up a chunk of Kun-mani in return for an income stream.

I can not see this story ending well for PI's IMHO.

Tiburn, agreed. Although delay in itself is usually not viewed positively (as we keep delaying and they always find a reason for everything). Nevertheless, the most interesting part of the RNS is BPC offering a 10% farm-in option to the drilling contractor. I am now more inclined to think that there could be a higher chance we farm in before drilling as opposed to afterwards.

Maybe, just maybe, that was a nice little indicator that this could actually happen.

Nevertheless always DYOR, as investing/trading is not an easy game.

"Very Cheap equals Strong Buy in my book."
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No necessarily.....very cheap in my books (usually) means it is cheap for a reason.

"Apply a p/e of 10 to that or the industry standard 20 and the mcap is many, many multiples of where it is now."
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People are missing the point, AEX changed from being an operator/holding controlling interest to more of a 'holding company' with royalty type payments for future income. So applying a P/E in this scenario is simply not relevant IMO.

The catalysts we were expecting have disappeared for now - just look at today's SP on the RNS - tepid reaction because nothing new here...in fact we got more of a move in SP when our new CEO made statements about looking to JV a production company to give us some income and he'd be disappointed if we do not drill by Q1 2021 (didn't say by the summer or end of this year) - that for me was more revealing than todays RNS about the farm in.

Each to his own and GLA.

"Where is a good place for your money in the coming months and post CV19 lockdown economy?"
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Wherever there is any liquidity.

" I'm happy to keep on waiting - what's another 6 - 9 months?"
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A very high opportunity cost.