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Some of us in TOM follow seeking alpha, saw this piece earlier today - very positive
https://seekingalpha.com/instablog/11252731-randall-connally/5511192-guyana-suriname-basin-westmount-energy-limited
Will be an Africa deal is what I have heard
Multi bag for sure before year end. Company taking out the trash.
What is the estimated time to announcement of the RTO?
Anyone have any idea what Austin Field is worth and how much cash on hand?
The old guard is gone. Helpful. Orslega. All their useless ramping. I guess they finally threw in the towel or are simply to embarrassed to show their virtual face around here. They rode this down 99% 3 times! Good riddance to the vermin!
Kept anyone from buying the assets “cheap”, sure glad he did that so we could be locked up probably waiting to never re-list......
Helpful is spot on....
I fear that JimmyD, despite being a bit of a jerk, is indeed correct. I am familiar with a number of small asset deals in the US this year and small assets are selling at or below PDP PV10. The value of this company then is the service business - perhaps 1x revenue plus the PDP. So a bit higher than JimmyD asserts but still probably less than half current level. Alas, a mark down of 50% seems likely.
Of course he would like to take focus off his own dealings with the company; he has been involved in many if not all the behind the scenes machinations
Deep discount placing, new warrants for Board and Broker and massive loss to shareholder? The daily drip drip drip seems to suggest as much. Chinese water torture anyone?
Any insight?
Only reason not to is charity for Wood
helpful, did that info come direct from the company by any chance?
The good news is we probably get a rally soon, he will want to run the shares before placing in September-the likely Wood playbook. Sell into the ramp, reload on placing and then actually-I think the shares could have a good run. Like Attis and Thom. The stock would run if CW stepped away. Ask Helpful why Wood still around, he is one of the triumvirate that guarantees his job.
If it wasn’t for the 400 to 1 reverse split this company would have over 1 trillion shares in issue and Wood was there for all of them!
And by the way, say what you want, but before Wood started trying to manipulate to remove Eddie the sp was .8 or .9. Say what you want, but had it been handled differently the sp would be a lot higher today.
Would someone remind me where the SP was when would was appointed MD?
Also, when is the next placing? Would will be wanting to get something out to juice the sp ahead of placing, that will be time to sell and reload in placing.
Having to bring in a third party geologist at this stage suggests either that their may be some concern that the engineering did not take into account all possible sources of reserves or that they are not happy with the final results and want to see if they have left any “Rock unturned”