Yes 1750 it is,while they keep drip feeding their shares,the price is kept artificially low which leaves RRE vulnerable to a cheap offer.Fine in the long term,get them out and up we go,just hope an opportunist bid doesn't materialize in the meantime
Correct me if I'm wrong but i think we're now trading below cash in the bank (unrestricted) and on top of that earning 10-12m dollars a month since last set of figs.I always believed the old adage "the market is always right"...on this occasion it's got it hopelessly wrong
Yes Rookie1,with the price languishing down here we most certainly are,either DNO as per article or private equity.I would rather it stay independent and see what deal Mr Austin has up his sleeve though
Love your message,and couldn't agree more.I don't think Cavendish are forced sellers ,in fact I suspect they would keep the lot if they could.Macquarie different story...sooner they're out the better but as you say great opportunity to top up.With cash generation,even if oil price dips to mid 50's the company will have a short 330m by next July,which even if we trade at cash is £25 a share
Having held this pile of garbage for over 4 years I've finally lost patience and a shed load of money.The final nail in the coffin for me was a post on a rival chat page pointing out that Tate and Lyle have a sodium product, trademarked etc, as pointed out below-I thought this was their great hope,now I see it as no hope.That glasses thing,pile of garbage,good luck to all holders,I'm out and good riddance to Cliff and the board.I just wish I'd listened to a chum who worked for one of their brokers,they resigned months ago and he basically said it's trash,oh well an expensive lesson but at least I got 7.5p for my shares rather than 0
What a nonsense placing,yet more dilution and drop in share price.What drives me mad is the accompanying statement (which someone below touched on in earlier post) saying the various markets are worth x billion by the year 2025 or whatever,what good is that when you've got zero market share and unlikely to ever have one-just tell us what's happening-this is one of the worst companies for keeping long suffering shareholders in touch.
I admire the optimism from people on this board,sadly from my experience over the past 5 years investing in this pile of garbage I fear your optimism is misplaced-nothing ever seems to come to fruition,all we get is promises of jam tomorrow and more execs appointed who seem to bring little to the party
i guess so Soberman,annoying that they didn't take advantage of recent tender offer,but with market price at substantial premium at the time I suppose the greed factor took over and now they're dumping stock at these levels-which to be fair is still better than 560.Glad RRE dumped them as advisers though.Just a shame Cantors and Hannam can't rustle up a buyer and take them out
what idiots are selling here?? They're now below the price before the second blockbuster deal was announced,mind blowing.trouble is the longer they languish down here, the more susceptible they are to a cheeky bid
RockRose will get a number of gas and condensate licences in the Netherlands as part of this deal and it will add a further 13 million barrels to its net developed reserves, taking total 1P reserves to 23 million barrels of oil equivalent, and production to in excess of 10,000boepd, with a 60% gas to 40% oil split.
These licences, which are currently producing around 5,000boepd, also have further significant upside from potential further development and conversion of prospective resources into reserves.
Although many of the licences are old depleted fields and not of huge interest, it did get the Nelson, Howe, Ross and Blake fields with 2P reserves of not far off of 10 million barrels attributable to RockRose, and likely to continue to produce until at least 2024.