Member Info for highlandmatt

Nice find Keith. PRD doesn't have the readies to drill those kind of wells at present, but Touchstone TXP does. I still think we might see TXP take majority stake once Cascadura cashflow comes on line.

Ah, wondered why we had sudden interest.

I actually feel sorry for the CFO. All his cash flow projections keep getting ripped up. Oil pipe vandalism - revenue lost, expenses incurred. Coho online - Shell throttling - revenue lost. Cascadura - NGC delays - revenue lost. VAT refund - income delayed.

Kam - yes. That's been well trailed.

Hi Danger,

1. Depends on She'll balancing inputs to it's facility. The well can do more, but is choked.
2. Q2. I'm expecting about 40mmcfd to start, but ramping up quickly to the 60 guided.

Source?

Sorry, replied to wrong thread. This is in response to 'Consolidation'.

That example omits that significant number of shares in the new entity are given to the vendors. The Tennyson note includes a good example of the future structure and mcap. £15m with existing BCE shareholders having 21%, i.e. £3m. If the placing price is lower than 1.7p, then it will take more shares to raise £6m and existing shareholders are diluted further. The flip side is if you buy in to the offer at this lower price, then that investment might be in profit quicker. Please do some reading around RTOs. Just read the first page of the Google results.

Placing to institutions and vendors will be same price as we are getting (and vice versa). Where does the 500% come from? If you bought at the low if 0.08p, a listing price of 1.2p is 50%. You are forgetting you lose 9/10 of your shares in the consolidation. Example, you had 10 shares at 8p. Total 80p. New price £1.20, but you only have 1 share. We are going from 100% of nothing to 20% of something. Those that bought when we had nothing will do ok. Those that bought when we originally had something, will still be underwater and certainly will not multibag on relisting.

To be fair, we are being given the same opportunity as the new investors.

Ouch. Sorry to hear that Roger. I bought in at 4p in Advance, but only a few hundred quid. I guess the thing is, if it's a rejected, then that £4k is gone for good. Whereas there is a chance to make some of it back, either by participating in the offer, or by letting it run.

That's very kind of you to say so, but I'm not sure I'd be very good in front of a camera. However I do know about cost control and due diligence. EAG do most of the work anyway.

The company has no cash, no assets, no production. If the deal does not go through the company will likely fold and we will get none of our money back. At least this way there is a chance of regaining past losses over time. read the Pathfinder document.

Shareholders should note that the Resolutions are inter-conditional. If any of the Resolutions are not passed at the Extraordinary General Meeting, the Acquisition and the Fundraise will not proceed, and the Directors will need to consider alternative options for the Company. The Company will have expended material funds in pursuing the proposed Acquisition and would therefore incur significant abort costs and it is unlikely that a suitable alternative Re-admission Transaction and/or funding on similar commercial terms to the Fundraise can be obtained on a timely basis or at all and it is likely that admission of the Company’s Existing Ordinary Shares will be cancelled.

The BOD are saying there isn't the cash to pay the salaries, so they will be issued shares in lieu as part of the placing. 1. This saves us cash. 2. It aligns the BOD further with shareholders. 3. If there is no cash for salaries, what do you think will happen if you vote against this deal?

You are forgetting the 10:1 consolidation. They take 9 out of 10 shares off you. So yes, price of one share goes up, but you hold a tenth of what you had previously. No, we are potentially looking at opening lower than suspension equivalent price. I suggest folks do some reading around this. We are not going to have 2.7bn shares, as the previous 1.5bn gets converted to 150m.

No Roobler, maths is correct. 0.179 X10 = 1.79p. Raise at 1.2p, so likely to open at that. Hopefully it will drift up to 1.8p, so we all make 50% on what we sign up for today.

Directors will benefit from 15% of any wealth created for shareholders. If this goes to £1, (350m mcap), we are all rich, and Dawn pockets £20m for years of work, and inventing something that will benefit the whole world. Seems fair.

Mumbo - you ask what else has PG been doing this quarter. Well, there are potential farm out discussions for Ireland, and the Trinidad acquisition, both ongoing. Remember it's a team of 2 doing everything on 3 continents.

So PG /Lonny are saving us money again?

Not surprised that a country in Africa has very tight rules on holding and transporting explosives.