Member Info for Jackbal

Chicken you were correct. It’s creative and for once I’d actually praise bod for coming out and clarifying this.

Should get SP back on road to recovery imo

But it was also first time they officially talked of getting 100% back which raises a whole lot of questions.

Guess we will find out by April latest.

I’m holding what I have and still hoping for 6-7p

Good luck those buying this level too

Also fair points too Chicken and I really hope there is a creative structure and not hundreds of millions of shares being placed with TP (who would request wts imo).

I’m probably deluding myself but I hope they have another partner on standby for Anza to fill the void or that the existing partners are willing to fund exploration in return for some sort of first refusal option.

Very very difficult for to have any confidence in bod’s ability to pull all this off without any info from Bod as to how this can be done.

I’ll be reluctantly watching next webinar for sure

I recall him doing that Turner Pope webinar and telling them they would get some fees soon?

If that’s the financial plan I’m wary

I just don’t see this as will they/won’t they get Anza back?

The market knows they are getting it back but concerned about how.

Bigger question imo is will they dilute to smithereens to get it back?

Why did market react badly to yday rns? Uncertainty surrounding the Balance sheet reality with the bod’s intentions.

It’s just weird that none of us really know what’s going on.

Tells its own story

Rns can he and has been wrong.

Do you remember the rns with Louis saying he was delighted about their decision to live to phase 2 and that he looked forward to accelerated exploration activities.

That rns was plain wrong and extremely extremely misleading to market .

Don’t know how he’s got away with that

Big shout out to Zak “Jonah” Mir.

Another fine call from the man who gets it 100% correct 20% of the time.

Dr I remember you saying that he suggested Omi would be leading exploration on MMA’s money. I really don’t think that’s going to happen.

Guess we will find out soon enough. This looks snookered to me but then maybe I’m not imaginative enough

They have not been able to provide a sensible explanation of why they accepted 2 million if the JV was invalid (as they claim)

Why didn’t they use the invalidity to the advantage of Omi holders and refuse the 2 million without terms?

After all the JV was invalid wasn’t it?

Holding AGM on a different continent to the majority of their shareholders. Hiding from Q’s that they have no plausible explanation for

End of October they had 2.35 million in the bank. Based on usual cash burn it seems v unlikely they are able to give mma back 2 million.

I come back to the fact they need another partner on standby so they can afford to get it back or it’s confetti.

These f@cking bod guys, just have no real interest in SP. They’ve done a masterclass in how to depress your SP and literally your shareholders.

Clowns, total clowns. Only interested in keeping the gravy train going

Exactly if they let Omi go back to 100% it will cost something

Does Omi even have 2 million in the bank to return?

These other JV’s were only ever to justify the CEO’s payrise and to keep him the seat for years. Millions has probably been spent on them, millions which would have provided room for negotiation and less balance sheet uncertainty.

It’s not like we are being wise with hindsight as many of us said it was a terrible strategy at the time on this very same site.

It’s the fact they have come out talking about getting 100% back.

You cant honestly be expecting the majors to walk away from the all of the equity and all that of the cash they’ve sunk in?

I would rather have seen something like them keeping an non controlling equity stake for their troubles. Would have been a softer landing I feel

*What’s the 2 million done for OMI (apols busy day my end)

Break totally agree with your comments and sentiments. It’s why I never thought the 2 million was good will at the time.

It was obviously a tactical move so they removed the walking away with nothing factor.

What’s the Omi done for Omi anyway?

Sweet FA in terms of value

Hi Chicken,

The difficulty for me is

“How can they get a bigger equity stake without paying for it”

Are you expecting the majors to roll over and give back equity % and let Omi keep the 2 million they paid? Seems illogical to me

Thanks Bhargav. Just saw your post too

Hi Chicken,

How do you envisage they get it back?

After reading your post I do see your point but how do you a imagine a resolution will look?

Interested in all opinions on this, hoping to get some positive scenario examples

My remaining hope is that Omi have another partner waiting on sidelines to join in and bring cash and that Is causing the complexity.

If the bod at Omi are intending to do it all alone with funding from the market then that’s a big concern for SP imo.

Drilling at Anza alone will be millions, then there’s the additional cost of buying it back, then there’s the 3 other JV’s (in Nigeria he’s looking at future licenses.

Oh top of that there’s the snails pace at which EVERYTHING happens at Omi and the chunky bod salaries and day to day cash burn.

Without another partner on standby how does he fund all of the above without crushing the SP?