RE: Share halted20 Oct 2023 16:05
BDC - None of us know enough to be able to make solid judgements, we can only guess. Even using statements made by BOD on timelines etc. Rishi said he would stop the boats and halve inflation. He hasn't a clue but it would probably be unfair to call him an outright liar and lying fraudster (although I am tempted to almost do that sometimes!)
In the case of Chariot raising funds to drill on-shore, events could easily change their thinking and they could use the funds for some other unforeseen issue or even to tide them over until enough cash flow appears from whatever. As I said, we do not know enough. But from what little I know, I would not want to use all the dosh in the bank to drill 3 or 4 holes and just have enough left to pay the bills for 3 months. If a deal is imminent and includes say £30m cashflow then all makes sense. The £30m would see them through any other requirements while drilling on-shore and that, together with the on-shore income would see them through to Anchois income. But I think they know a bit more than us.
The rules say that the BOD have to keep shareholders informed of important developments but even that is a grey area is it not? The Gas price may be the sticking point, or is it the cash input £30m or £20m or £50m? or is it some guarantee on the speed of working Anchois with penalties applied if too slow? Or dare I say it, the "back-hander" which hopefully is a definite NO NO.