Member Info for happysparrow

3CB - Takeover will come AFTER legacy issues are resolved, we have Etinde fid, a power deal, and proved-up Logababa production and some Matanda potential. Roy is cleaning things up here, perhaps like Eli Chachin was put in to do so by the major shareholder at BLVN. Once cleaned up, I would expect a SP of 30p+ regardless of takeover. Agree, YF Finance then may be party to taking us out at not much of a premium (agree, it will largely be their decision, not ours), but they will seek the best price - why wouldn't they? (As said before, it would reflect badly on their other investments if they were known for cutting-out the PIs - thus they are not in the business of taking it private. NB:there are companies I won't invest in where certain financiers, and management, are involved.).

We are where we are:
https://childrenshealthdefense.org/defender/vaccinated-healthcare-workers-threat-unvaccinated-patients-co-workers/
https://www.nationalgeographic.com/science/article/leaky-vaccines-enhance-spread-of-deadlier-chicken-viruses

according to london south east share trades we now seem to have yesterday's 18.18 @ 3.4p trade reversed, and a further 1.2m late reported buy at 3.55p. I am not picking these transactions up on the London Stock Exchange trades.
Anyone know what is going on? Has someone bought 2.4m shares? Will we see a TR1? Or all just an accounting foul-up?

3CB - you forget: my initial reason for investment here was that VOG would be taken out. Not a lot has changed on that score. However, under Roy's good stewardship, the possibility of a recovery play becomes stronger; and hence a more marketable company and better price on takeout. We now need to keep VOG afloat until the legacy issues are resolved, we have Etinde fid, a power deal, and proved-up Logababa production and some Matanda potential. Then I still expect a merger/takeover soon after. Likewise, at the same time, Bowleven taken out too. So maybe in one year or less?
Any good news here and this will quickly rise to 6p - 8p, with anticipation of 12p+.
Yes, the SP has been walked down recently; but because of RSM arbitration uncertainty, and cashflow not as strong as I, and perhaps other, expected (currently we are not yet running at breakeven imo).
Thanks to the MCL loans, there should be no need for a placing in 2021, (unless it is a last resort to finance a Matanda drill, if and when no farm-out arrives). Likewise, any funds returned from West Med / Kemerkol makes a placing less likely, and brings Matanda drilling nearer.

Correction: 7.8p (not 0.078p)! :-)

This is a follow on from the RNS of 18th June Loan Note Instrument.
We get $4.2m for a loan note conversion at 7.8p a share. (As I understand it, we can draw down on the loan regardless of our share price - so MCL assume this higher price, and thus do not seem concerned about RSM arbitration findings?)
This conversion results in a 23.1% dilution (60m / 260m) for all shareholders, including MCL's current shareholding (and Hadron Capital's shareholding).

I regarded this as important in today's update:
Intentions of the Concert Party
The Concert Party has confirmed that, if the Whitewash Resolution is passed by the Independent Shareholders on a poll, there is no agreement, arrangement or understanding for the transfer of their Ordinary Shares to any third party. The Concert Party has confirmed that it has no current intention to change the Company's plans with respect to: (i) the composition of the Board, nor the Company's plans with respect to the continued employment of employees and management of the Company and its subsidiaries (including any material change in conditions of employment) or any material change to the balance of skills and functions of the employees and management; (ii) the Company's future business and its strategic, research and development plans; (iii) the location of the Company's headquarters or headquarter functions or the location of the Company's place of business; (iv) employer contributions into any of the Company's pension schemes, the accrual of benefits for existing members, nor the admission of new members; (v) redeployment of the Company's fixed assets; or (vi) the continuation of the Ordinary Shares being admitted to trading on AIM.

Recently I raised concerns regarding the company being taken private. (v1) above seems to confirm that this is not the intention. It was pointed out that MCL (and Hadron) own many shareholdings (PTAL being another O&G on AIM); and thus imo are not in the business of taking this type of action, which would have a negative impact on all of their other publicly quoted investments, and that at 35% YF Finance would need other parties to take it private. On balance, it seems not in the interests of MCL/YF Finance to take this route.

In summary, this is a supportive move by our principal shareholder, who keeps the show on the road whilst our legacy issues and negative cashflow are being resolved. MCL believe in, and are strongly committed to, VOG having a very bright future. Worst case scenario for MCL is 0.078p, double today's share price.

John Casey wrote on advfn yesterday: 'rns coming..west med sale by all accounts.'

If it turns out so, then the last trade might raise the prospect of questionable trading?

What it does suggest to me is that, whoever is the buying party, they see the current RSM arbitration uncertainty (and hence low price) as a good opportunity to buy cheaply. (As for the seller, perhaps the opposite, or perhaps they need the money for use elsewhere?}

yes, 0.46% of company.
It's a TNCP trade [- explanation courtesy of Dartron: Here is a very simple answer you can check yourself. Google what trade flag 'TNCP' means.
You will find that it means - Non Price Contribution to Discovery. This basically means that all of these transaction are just between 2 parties, and the agreed price does not affect the share price. So its a bit irrelevant, in the context you are asking.
I am not trying to discourage you from looking at trades, it is interesting, but that is basically the answer.
Imagine if I sold you my NCYT shares for £5 per share, that doesn't mean the SP is now worth £5. We could report the trade to the exchange and it would be off book.]

Maybe it will result in a TR1 by Hadron Capital or YF Finance? Or perhaps someone else taking a position - Mr Dangote? ( I wish)

Danno - The odds of a positive outcome are very strong imo; unless RSM can provide clear evidence of wrong-doing. However, the SP reflects caution, as a negative outcome would put severe pressure on our cash (although any payment made would be spread over time, as there would be no point in RSM bankrupting VOG, as was the case with CHL liabilities). Hence people are delaying adding here at this 3.5p price until the position is clearer.

Everyone's waiting on the RSM arbitration findings which are expected about now.

Ranger seems to be a one-off - a kind of 'reef':
https://www.youtube.com/watch?v=enJosZGBHDg
Not sure we can learn much from that?

Agree. I think Hess increasing it's position is the biggest indicator of upcoming success here on Kaieteur.

Jabillo was disappointing, and may have led to prioritising the southern section of Canje rather than moving north towards Tanager? (we'll only see this for sure when the initial Canje drill programme is provided; and then a changeable well-sequence depending on results.).

Perhaps worth reviewing this RNS in the light of the previous RNS of 17/11/2020 Tanager Results:
'...Although high quality reservoirs were also encountered at the deeper Santonian and Turonian intervals, interpretation of the reservoir fluids is reported to be equivocal at this stage and requires further analysis.... It is anticipated that the Kaieteur Block partners will now conduct a detailed evaluation of the data collected at Tanager-1 with a view to understanding the well result, re-calibrating the seismic model for this part of the basin and high grading the next potential drilling targets on the Kaieteur Block. A substantial prospect inventory has already been mapped across the 5,750 km2 3D seismic survey, which was acquired in the southern part of the Kaieteur Block in 2017....
Gerard Walsh, Executive Chairman of Westmount, commented:
"The outcome of the Tanager-1 exploration well has proved to be a mixed bag - confirming the extension of the Liza play fairway onto the Kaieteur Block but apparently coming up short at the deeper stratigraphic levels. As Tanager is a stacked pay prospect, success at a number of stratigraphic levels is required to achieve stand-alone commercial discovery volume thresholds. However, these deeper results must be viewed in the context of the very limited number of penetrations of these deeper plays to date - indicating that exploration of these deeper plays, offshore Guyana, is at an early part of the learning curve....'

So what can they have learnt since November 2020, and will learn before March 2022? Is there to be a drill at the northern boundary of the Canje block, or any deeper wells in the Santonian (Block 58 discoveries) and Turoninan levels, anytime soon? Progress on Kaieteur exploration does seem to be slow? On the back-burner for Esso, with Stabroek, and now Canje, the priorities?

https://oilnow.gy/featured/guyana-basin-discoveries-approaching-13-billion-barrels-with-much-more-to-come-minister-tells-otc-conference/

'An accusation of data cherrypicking to conceal uncertainty and in effect orchestrate a pre-conceived conclusion in my opinion is very serious. Accepting the IPCC’s climate warnings at face value without considering strenuous objections from well qualified scientists as to the quality of the procedures which led to those conclusions could lead to a catastrophic global misallocation of resources.'
https://wattsupwiththat.com/2021/08/16/climate-scientists-accuse-the-ipcc-of-cherrypicking-datasets-

https://equationcampaign.org/about/

https://equationcampaign.org/about/

'The Equation Campaign is a new ten-year funding initiative working to bring about a safe and just future by enhancing the power of movements to keep oil and gas in the ground.

The science is irrefutable: to avert the worst effects of the climate crisis, carbon emissions must be cut in half by 2030. While supporting the rapid growth of renewables and energy efficiency is essential, this support cannot solve the climate problem alone. There is a missing piece of the equation: stopping oil and gas at the source.'

a little sleuthing:
Article provided by https://www.floodlightnews.org/about-1
Floodlights funders: https://www.floodlightnews.org/about-1
'The founders of the Equation Campaign are Rebecca Rockefeller Lambert and Peter Gill Case, two Rockefeller family members and cousins who recognize the urgency of the moment and the window of opportunity. '
The Rockerfeller Foundation supports The Great Reset:
https://www.rockefellerfoundation.org/blog/rebuilding-towards-the-great-reset-crisis-covid-19-and-the-sustainable-development-goals/
'Five years ago, in 2015, all 193 UN member states agreed on the Sustainable Development Goals (SDGs) as a common set of priorities to be achieved in all countries by 2030. Guided by an underlying spirit of “no one left behind,” the goals have gained increasing traction since 2015 as a shared reference point of ambition. A widening array of governments, communities, universities, businesses, civil society organizations and private philanthropies have all leveraged the lingua franca of the goals to pursue a common agenda for progress.'

Expect more of this with COP26: The UK will host the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow on 31 October – 12 November 2021.

To the Fake Science of the Covid 'Pandemic' will be added the Fake Science of 'man-made' Climate Change. We are up against a Globalist Agenda. They intend to steal all your money and reduce you to serfdom - 'You will own nothing but be happy' (World Economic Forum agenda).

It is good to know who you enemies are.

If selling all (see withheld end-of-day trades, and UT's), about £450k (@9.5p) to go - so probably out by end of week? Then illiquid SP rise with Sapote spud to 12p+. So this will be the last cheap week to add?