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It would be in the interest of a potential suitor to keep the sp down ahead of an RTO, as a share swap would be set at an average price over a set amount of days trading
Anyway not all substantial shareholders are listed on the GBP share register, if they have shares held in nominee accounts they are not named. There is c.45% held by the BoD which could be increased further with substantial holders tightly held in nominee accounts.
Yet more twaddle I see.........
Azinam only have three shared interests in Namibia and will be farmed out further, they have five shared interests in S/A. Only one is a current discovery so little value assigned as the assets are frontier, but the potential is huge
GBP have two frontier assets in Namibia that probably more potential per acre than anywhere else in Namibia between 4.5Bln barrels and 11 bln barrels. The WD prospect is drill ready and is the pathway into the PEL29 flagship licence. Deepwater assets are very much another box tick for any prospective suitor
GBP also has 4 massive licence applications in Italy that the company are very keen on.
If GBP has a farmout deal in the pipe for the two Namibian blocks this will also add considerable value
The LSE listing is cheap route to market and makes GBP a prime target for any privately held company, particularly a like minded company in the same region, that needs to fund a huge up coming exploration campaign
Everything you have written is utter tripe
It matters not the history of spend all the shares of both companies are exchanged, this covers all assets
It is a fact that an RTO is massively cheaper than an IPO
KEY TAKEAWAYS:
A reverse merger is an attractive strategic option for managers of private companies to gain public company status.
It is a less time-consuming and less costly alternative to the conventional initial public offerings (IPOs).
Public company management enjoy greater flexibility in terms of financing alternatives, and the company's investors enjoy greater liquidity.
Public companies face additional compliance burdens and must ensure that sufficient time and energy continues to be devoted to running and growing the business.
A successful reverse merger can increase the value of a company's stock and its liquidity.
Understanding Reverse Mergers
Reverse mergers typically occur through a simpler, shorter, and less expensive process than a conventional IPO. With an IPO, private companies hire an investment bank to underwrite and issue shares of the new soon-to-be public entity
https://www.investopedia.com/articles/stocks/09/introduction-reverse-mergers.asp
You are paid to write dross on this micro cap as your company would like to see a lower entry price
IF there is an RTO it will have a huge positive impact on the SP, Panmure has just been taken on by GBP, who are in the premier league of brokers, there is a good reason for this appointment
You on the other hand are out of your depth and clearly are not clued up on Namibia or it's players lol
Absolute dross.......
McEwan......I think you mean Mckeown........who has never mentioned a failure of any IPO
The subsidiary companies are included in any RTO or merger............RTO's can take as little as three weeks and have minimal costs compared to an IPO that can take years.
Anyone can google the difference between an IPO and RTO ........it is not rocket science
Your post history confirms you are very much a de-ramping tool and was my impression on your very first post
Having you turn up here confirms there is news coming here and very soon ;-))
What a joker you are !!!
Ah...Oh
You are quoting "Seacrest LP" who are a fund run by Seacrest Capital, two quite different entities
Seacrest LP .............https://privatefunddata.com/private-funds/seacrest-lp/
Seacrest Capital..........http://seacrest.com Which includes amongst others Azinam /Eco/OKEA who just IPO'd last year
Regarding the Azinam IPO , have a closer look at the date, you will find it to be 13th September 2018. You said that they tried to do an IPO and failed.........don't see any mention of that whatsoever and will not find it anywhere on the internet
In the same day (13th September 2018) Azinam announced the appointment of Phil Loader to the BoD, who had been VP of global exploration at Woodside to advise on a possible IPO and strategy going forward for Azinam and Seacrest.
Tullows Cormorant result came out on the 28th September and the Azinam/Char duster was announced 11th October 2018 This was followed by Total's Brulpadda discovery in S/A . These three well results completely changed the game plan for Azinam. Azinam CEO Daniel Mckeown....said it was a step change to the thinking in the region and a new concept was born. Azinam couldn't do an IPO, because there was a substantial re-focus in the region and they were out of position. Phil Loader would have been instrumental in this decision and what follows, including walking from three licences and looking at deepwater licence plays
This re-focus has brought counter parties to the door of GBP, which for Azinam "could" be a two birds with one stone solution......ie: an RTO in place of a much more expensive IPO and two deepwater licence plays, with multi-billion barrel potential
Final point, when two companies decide to do an RTO it requires both companies to swap their entire shareholding, this captures the complete assets of both companies. Which would include Azinams Namibian and South Africa assets
P S .....Seapulse have completed all the alliances relative to conducting exploration campaign, however due to the re-focusing in Namibia and South Africa, the initial wells to be drilled are no longer applicable and negotiations are still ongoing and possibly about to be concluded
Goodnight !! ;-))
It ticks all the boxes in my opinion and apparently Namcor's in the respect of a consolidation and then there is the farm out deal, which I have high hopes of Exxon & Galp farming in or AOI and Seapulse
Exxon and Galp spent millions on 3D in PEL44 and walked. The 3d info is on an Azinam presentation, but the walking of Exxon from PEL44 you will not find anywhere, but I had it confirmed by MapStand. Then later we find out from an M&P presentation that Azinam no longer feature in PEL44 & 45. Azinam are said to be looking at blocks with deepwater plays, I can only imagine Exxon are doing the same or more likely Azinam are following Exxons lead
Time will tell
I agree, this morning 600k is the maximum sell, which is higher that yesterday at this time, this may increase as the day goes on. It is easy to take out the short termers, but the bulk of the shares are held tight
If there is an Azinam RTO they will bring their own followers/investors, with up coming wells we will be very much on the radar, daily volume will no doubt increase. Recon have three wells onshore Namibia in November. Total with Venus year end in the Orange basin, Azinam have assets on the S/A side of the Orange Basin, which is a discovery already and Totals three S/A wells are close close to another two assets Azinam are involved in.
The Deepsea Stavanger is due to be in the Walvis Bay, tomorrow for a quick pitstop after its epic journey from Norway and before heading to the drill site in S/A
Mulunga on fuelling Namcor's engine for 5 years
https://www.namibiansun.com/news/mulunga-on-fuelling-namcors-engine-for-5-years2020-08-03
This was just posted on Linkedin by Namcor, it is basically saying why Namibia is a place to invest
Page 22 for Oil & Gas and says very little, on the Upstream, which is as expected as they cannot print insider info
However the sub-title is quite interesting .......
"Consolidating and growing Namibia’s upstream and downstream activities"
https://www.forbesafrica.com/wp-content/uploads/2020/08/FA-2020-NAMIBIA-28pags-FORBES-vONLINE_00.pdf
The point of any companies listing is to raise capital when required. GBP have been lucky as they had asset sales in the passed, which preserved the shares in issue total
An RTO is a cheaper way to a listing but effectively it is like an IPO and the suitor will want to raise capital, hence reducing the shares in issue by way of a 2 for 1 as is the norm, but set at, at least double the sp at the time
Potentially we will be in an RTO situation and also a farm out deal. There will be no placing before either of those deals, as it will dilute the Peters and the company coming in.
The question is, will a placing come during an RTO or after a farm out deal ? Both deals will put us in a significant place, adding considerable value and hence increasing the sp
I know companies, where there has been a consolidation, because there has been massive dilution over the years with masses of shares in issue and effectively the company can start diluting all over again, with the same old assets.
This is not that type of situation, the Peters have not shown that type of mentality and the suitor will be adding significant assets to our own. plus the farm out potential and 2 wells in prospect.
Obviously this is my take and others have their own, that's the beauty of the market ;--))
I thought there would be a few comments on Recon and how they came to being .........but hey ho
So Recon (1163631 B.C. Ltd) started of as a privately held company and did an RTO with Lund Enterprise Corp, worth following the process, the bottom link shows all the announcements. Note they did a 2 for 1 share consolidation, which is common with an RTO, but adjusted the price up accordingly.
My point being, if a certain private company mentioned here on many occasions, decides to do an RTO with GBP, we effectively become that company with our combined assets. Don't forget they have many licences and one that is a discovery.
Eco before their Guyana discovery were bobbing around 30p for a while giving a M/cap of £55m, current M/cap is £40m. Prospect wise we would outscale Eco by some margin
In addition to that, an RTO would be the event ahead of a farm out conclusion with a major or AOI whatever, which would even further boost the sp and add cash
https://www.canadianminingreport.com/company/news/Lund+Enterprises+Corp.+Signs+Definitive+Agreement+For+The+Acquisition+Of+Reconnaissance+Group
https://www.canadianminingreport.com/company/press-releases/len
Currently I can sell 1 million shares online, it is evident there are buyers in the background. If the above is anything like what may happen and I think it likely. Buying now, as with the period of de-listing, will be the last chance to pick up on the cheap. The upside potential will have increased massively and Panmure will make sure with a broker note that the market is wide awake to it
You pays your money and makes your choice ........;-)
Here is an interesting recon interview, current M/cap around £30m. They hope to spud early November and Total looking to spud Venus offshore by year end. Recon have 8.7m acres and GBP have 2.8m acres with a M/cap of just over £2m
https://www.resourcestockdigest.com/archives/interviews/reconafricas-tsx-v-reco-craig-steinke-on-the-world-renown-reconafrica-technical-team-the-unprecedented-opportunity-at-the-kavango-basin-in-namibia/
Here is a link to Recon's 2020 AGM and (15 mins in) a question is asked regarding delays with their up coming drilling campaign. MME view this as essential work
https://www.reconafrica.com/