RE: Business as usual30 Aug 2019 09:57
Trellis,
The marketing process is up until the end of this year, which could mean December 31st. Check out the recent RNS's, which reference this. Note that this only pertains to the marketing process. In a recent comment, I mentioned that there may well be a time period following the marketing process whereby any proposed deal is concluded i.e. the t's crossed and the i's dotted, which in layman's terms means that we could be waiting around in Q1 of 2020 for our money.
As you know, I don't believe we will receive a credible offer for our Eastern Moroccan assets and my fear of this scenario becoming reality is only strengthened by JP's recent apathetic comments to Crude. I am not entirely sure why Crude found it appropriate to post JP's comments to him, when they alluded to going long and having to raise money etc. Crude? I realise that you were on the precipice of opting for another top-up the other day. I wonder if you've managed to do this, given the current disharmony that exists at present?
And then I am reminded by what BM casually said to another investor about things being sorted well before October 31st. I still don't know whether he was being serious or whether or not he was referring to Brexit and in a jovial fashion. Either way, I suspect JP wasn't too happy with BM's reference to a specific timescale.
As we edge ever closer to month-end, we in-turn move towards the possibility of finding out where the land lies with there being a deal. I however reckon this radio silence will continue for some time yet and that we will probably receive a RNS stating that no credible deal has been made and that we are going long and making plans to continue drilling etc. The RNS will also make reference to an equity raise IMHO as money must be getting tight. I have come to expect the complete and utter opposite for what I desire and hope for when it comes to JP and his decisions. I used to trust him, but now I'm not sure I can and ever will trust him again. That is his fault and not mine. He has a lot of work to do right now and going forward in order to win back out trust. I hope he realises the severity of the situation we now find ourselves in. Let's see if he really is the deal maker he says he is. JP? It's over to you to prove to us that we have underestimated your ability to get a deal done.
Jizzy