Member Info for K3VMC

Boom. Ok, maybe the fuse is a bit long, but definitely been, when people put their thinking heads on.

All IMHO.

Rob1967

“ Kev, the mkt is not comfortable with the MBU holding…hopefully in the future they will sell down to another II.”

Rob, you may well be right there. I can’t see them selling down before any dividends are paid.

A 5p dividend makes the sp £1 at a 5% yield. It’s only common sense for them to wait for that kind of return. I think BEN they will pay out and MBU will cash in soon enough.

pawnsacrifice

“ Not bad for present holders + not expecting to need to use the facility again and back to divi talk.
30p today?”

The market has given a muted welcome to the RNS. Maybe the relationship between NBEN and MBU seems too cosy to anyone unfamiliar with BEN? More like symbiotic, imho, but as long as they are working towards that maiden dividend, I don’t give a hoot!

I can see a gradual ramp up from here, but I wouldn’t be selling at 30p anyway. I’ve got very used to my 12% dividends on I3E, and I’m expecting more than that from BEN.

AW and MBU have been banging on about dividends for at least a year. As BEN’s largest shareholders, they want them QUICK and they want them BIG.

If this CLN conversion had been done before the recent MBU sale, there would have been huge speculation that MBU was stake building in preparation for a takeover. Doing the conversion AFTER MBU sold down takes away that concern.

Ok, there has been dilution, but at least the dilution was done at the current share price. By converting the loans instead of repaying them, that cash can go towards the maiden dividend.

As soon as the maiden dividend is announced, the sp will rise and stay risen.

ART123

“ Now MBU have another 23 million shares that they don't really need. What are they going to offload them for - 14p??”

The average price of conversion is exactly 20p. Clearly, even if they were put up for sale, why would they sell them for 14p.

Totally illogical.

ART123

“ 3 TIMES AS MANY SHARES WERE ISSUED AT 15P THAN AT 30P.

I don't need an agenda - these are just facts.”

We all have calculators. We can all do basic arithmetic.

What you appear to lack is common sense. These new MBU shares are not for sale, so it doesn’t matter what price they were converted at.

ART123

“ So with 3 times as many shares issued at 15p than 30p surely the share price is far more likely to go to 15p today rather than 30p.”

Nobody can be this stupid. Clearly, you have an agenda.

You would think with all there hundreds of million whatnots, he could afford to pay out the few hundred thousand quid he owes us, eh?

I’ll pop back next year for another moan, if I’m still alive.

Closed above 20dma for the first time in 6 weeks.

I'm already fully loaded, but another two or three days without dropping and I think we will have buyers flooding back.

IMHO

srk69

"Thanks mate. As always very informative."

I will second that. Thank you Push2.

It was worth hanging on for ANGS to come good, despite the usual negativity from the trolls resident on their bb.

BOIL will have its day soon, IMHO. There aren’t that many billion barrel oil discoveries, just waiting to be exploited.

Some interesting opportunities at bargain prices now, but it relieves a LOT of stress when one of them comes good.

The sp is around the same level as in December, before the deal was done. And let’s be fair, it’s a transformational deal.

Now PIs get to buy in below the placing price, with a target sp in excess of 8 bags, and no further financial commitment.

Chill.

Benny-Shares

“ Technical director Jon Ford called the CPR “a major milestone, underpinning the potential commercial viability of the asset and highlighting its attractions to potential future participants(Super Majors)in the Chuditch project”.

That was the key sentence in the RNS, for me. Moyes & Co now has it in the shop window.

Rak0238

“ After all though it seems that we are heading towards 10p”

Whack a massive short on!! You will be dreaming it by the time it gets to 10p!

Third day closing above the 50dma.

Just needs a trading update now.

So futile.

barnetpeter is a notorious deramper. When he suggests BOIL will do a placing, he should perhaps point out the management statement from today’s RNS.

"Following the recent fund-raise we have a well-funded balance sheet for current operations, with current work commitments on both the Timor-Leste and UK P2478 assets largely complete. Our focus now is on assessing the viability of drilling for both a Chuditch appraisal well in Timor-Leste and a Dunrobin West exploration well in the UK."

I will agree with him on this. Trust no one.

fastduckharry

“ I think the pricing for the placing had been agreed in advance.”

That’s exactly what happened. You can’t agree a placing, sound out placees, take orders, then change everything because the price goes up. That’s not how business works.

It’s not HERC taking the micky, even if it looks that way.

Bought .1638 sold .1778 and immediately regretted it, obviously.

Back in at .175 and .1767.

This is the paragraph I like best. I think they will farm in Chuditch and drill Dunrobin, fwiw, but however they progress, we are one step further along the road and 15-20% cheaper than last week.

Has to be a buy at these levels.

Buyers coming back.

:-))