Member Info for kessla

What is the point to issue new coupon if you haven't paid old one...

Around 50% maybe more are traders this is how they make few hundred pounds a day if they are lucky...

Https://newsweb.oslobors.no/message/599693 new rates has been set from 20/09/23 to 20/12/23 it means outstanding balance has been paid as someone mentioned this is where 5 million gone.

You never know what will happen next week... maybe some good news coming up.

Also directors can't buy any shares if they know something will have positive impact to share price...

Shorts have to close in case some positive news comes around with RNS

I have question,is it the same idiot talking to himself by using different user names or two idiots arguing about nothing...

This is AIM sell on rumours,buy back on news and repeat again.

Yes bought some more today as well every little helps. No one knows what future brings.

Disastrous for shareholders...yes if you are in for quick trade.

Administration no good for anyone... they will come with some sort of solution, wait and will see. The rest of talk just hot air...

With all uncertainty this share is paradise for shorters, but shorts has to close eventually and will be bounce up.

No one is going to stick two fingers, but everything slightly more complicated than it looks... take over the best scenario only question by who?

What assets bond holders going to take over 50% is Callee energy they won't be able to sell anything without they agreement.

Come on guys another drop please will buy some more

Drop... can't buy anything.

The Joint Administrators confirm the appointment of Geoff Rowley, of FRP Advisory, as a conflict

administrator for LCF.

The appointment of a conflict administrator is very common in many large administrations. An

additional administrator is standard procedure where there is a risk, real or perceived, of a conflict

of interest arising in any work an Insolvency Practitioner carries out. In the case of LCF, the

appointment of Mr Rowley as a conflict administrator has been made as matters have come to light

during the course of the administration which could not have been reasonably foreseen when the

Smith & Williamson Joint Administrators were originally appointed. The appointment is cost

neutral as the new administrator will simply be carrying out work which, in other circumstances,

would have been carried out by the existing Joint Administrators.

Outcome for LCF Bondholders

The Joint Administrators of LCF and of LOG are pleased to announce that the resultant outcome for

the Bondholders of LCF, following the flow of funds from LOG, will enable the joint administrators

of LCF to facilitate a 5% dividend to the Bondholders of LCF (based on the principal sum invested).

A further announcement regarding the timing of the dividend will be made later this month. The

Joint Administrators cannot provide further commentary on their position with regard to this

dividend at this time.

Appointment of Conflict Administrator

• Entered into an Orderly Market Agreement with IOG and its brokers in relation to the shares

in IOG which it holds.

LOG, having considered all the facts, believes that the agreement with CalEnergy Resources

Limited should provide IOG with a solid platform for further growth. Whilst recognising that IOG's

projects with CalEnergy Resources Limited are, by their nature, long-term projects, LOG is of the

view that by entering into the arrangements with IOG, as described above, which, in turn, enabled

IOG to complete the farm-out transaction, the prospect of LCF Bondholders receiving their best

possible return has increased. It has also provided LCF Bondholders with an opportunity to

indirectly support IOG through this journey. The Joint Administrators of LOG will continue to take

expert, independent professional advice on a strategy designed to achieve the best outcome for

LCF Bondholders in a reasonable timeframe and in line with the Orderly Market Agreement.

Update to LCF Bondholders – Independent Oil & Gas plc (“IOG”) announcement

The Joint Administrators of LCF are pleased to report that Independent Oil & Gas plc (“IOG”) has

completed the “farm-out” transaction (announced on 26 July 2019) and, with its farm-out partner

CalEnergy Resources Limited, has initiated the development programme to deliver first gas in July

2021.

As part of this transaction, London Oil & Gas Limited (in administration)(“LOG”) has;

• Been repaid £17.1m in respect of its non-convertible debt in IOG, and

• Converted £10.9m of convertible loans and accrued interest into circa 135m ordinary shares

in IOG, taking LOG’s holding to 29.99% of IOG’s issued share capital (circa 143m shares in

total), and

• Restructured the £11.6m remainder of LOG’s convertible loan and accrued interest into

loan notes which are convertible at 19p into circa 61m ordinary shares in IOG. The loan

notes are long-term, unsecured and non-interest bearing, and

• Retained its IOG share warrants, under which LOG has the option to acquire further shares