Atlas are probably gone, its more the placing shares and warrants that'll have an effect now I think. Once the GM resolution(s) are approved, we could see some warrants coming through. I believe they're at 52.5.
I don't think Q2 results will show much improvement in terms of numbers but Q3 onwards should. I didn't quite catch when the 2nd rig would be operational but it sounded a little way away. Sit tight and this should work out ok with decent numbers towards the end of the year hopefully.
Realistically, BP isn’t making any money yet and we don’t know how much the new venture is going to cost. The SP may well slip pre-GM when the traders have had their fill but it’s resilience lately has been impressive. GLA.
The mercuria discounted equity deal is unfortunately just another example of the willingness to dilute investors. This is on top of the anticipated doubling of the shares in issue over the course of the next two weeks.
I was expecting a deal not Atlas to get 100% of what they wanted. The suggestion is they have further conversion claims(?). Anyway, looks like a c. 50% dilution including the placing. Presumably the investors in the placing are ok with things though. Not sure the other rns gives much at this stage. No detail, no costs. Hopefully this won’t result in further raises in the near term. Does all sound a bit familiar.