The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
No, they're just too embarrassed to mention the F word having gone back to DECC to request an extension to the date of FDP submission for a third time.
http://web.tmxmoney.com/article.php?newsid=69986909&qm_symbol=AEN Highlights - $17.5M cash as of two months ago (30th June). Fyne FDP submission delay. Outlook - With $17.5 million in working capital and no debt the Company is in a strong financial position to further develop its remaining assets as well as examine opportunities to raise capital or seek other strategic alternatives, including a possible business combination, to maximize shareholder value. The Company will continue to evaluate and de-risk the Irish Skellig Licence with a view to farming down or otherwise reducing its interest before a well is drilled. If drilled, a full carry of Antrim's interest in at least one well is anticipated. Antrim intends to bid to acquire additional interests in Ireland through the recently announced (June 2014) Irish bid round.
It would have been sufficient for the RNS to stop at 'seek other strategic alternatives' without slotting in the carrot by mentioning 'a possible business combination'. Greer's talking to someone I reckon so let's hope he can do a deal (or at least make a decision) that is beneficial to the company by way of a change, and do it before too much of that asset sale petty cash disappears via working capital. GLA
So the favourites (Ithaca & Parkmead) were not involved. Oh well, the asset strip had to come for survival although $18M won't take Antrim far, and the 'no debt' tag will be a thing of the past in the not too distant. No mention of Contender (Cormorant East) being retained so assume that's gone too. Mind you, 8.4% of 500bopd is only petty cash anyway. What a comedy of errors this has been for the past 2 years.....ever since Greer's Hummingbird debacle. ATB
We'll be getting our own version of this at 7am ; http://www.stockhouse.com/news/press-releases/2013/12/12/antrim-energy-inc-announces-amendment-to-payment-swap-and-commodity-swap No surprise they released it after trading closed in Canada. Hardly a new lease of life, just longer on the support machine. GLA
Not a lot of us left in here judging by the volume of reaction to the offer. As the BOD and major shareholders make this a deal we will rollover for, then maybe it's the best outcome. BRDG has never had much liquidity since listing on AIM and so always played second fiddle to Oslo. We're all coming out on top since listing a year ago and at worst are getting 10% for that year's investment so pleanty to smile about. GLA
Bolt out of the blue but not unhappy with that price. GLA
Thanks for the heads-up. http://www.proactiveinvestors.co.uk/register/event_details/191
Just a memory jogger that the AGM is at noon today and Q1 results RNS first thing tomorrow followed by a presentation of those results by Tom in Oslo at 08.30 our time. Slides of the presentation will be on the website prior to the event and a video of it available shortly after. Current drillbit action is the wildcat gas prospect at Mjøsa which spudded 37 days ago and is the first drill to take place in licence area 511. It is operated by Wintershall, and Bridge has a 7.5% interest giving an unrisked potential of 14mmboe. GLA
Brent (Contender) to restart ; http://www.upstreamonline.com/live/article1319639.ece ATB
This is certainly one for the patient and will get noticed over here eventually. I've seen nothing yet that detracts from the fundamentals or potential of the company and their strike rate to date has been very pleasing. Independant assessment of Asha will validate our numbers and the updated mapping indicating a direct link to upside volume to the east is very encouraging news for all inviolved in PL457. I was not too hopeful for success of PL457 at one stage during drilling but happy to have doubts removed. ATB
Yes, a very good piece of news and not long to wait for an independant assessment of those reserves. Let's hope it's not long before we see decent interest in Bridge on this AIM platform. Treadstone - Production on Alpha itself is still shut-in but the Brent network is back in operation. Cormorant East (Contender) started flowing again on 20th Jan.
http://www.taqaglobal.com/media-centre/press-releases/2013/17-01-2013.aspx?sc_lang=en
TAQA have begun to restart the production pipeline network excluding production at Cormorant Alpha ; http://www.taqaglobal.com/media-centre/press-releases/2013/15-01-2013.aspx?sc_lang=en
http://www.taqaglobal.com/media-centre/press-releases/2013.aspx?sc_lang=en Hopefully just 48 hours lost. GLA
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11458246 Further detail ; http://www.nasdaq.com/article/north-sea-brent-crude-pipeline-system-shut---operator-20130115-00841
Causeway production is affected by the detected leak on the Cormorant Alpha platform causing TAQA to shut-down all pipeline infrastructure which includes the Cormorant North platform. http://www.nasdaq.com/article/north-sea-brent-crude-pipeline-system-shut---operator-20130115-00841