Member Info for kevin0541

Thanks Suzy. I asked because I saw this (see link) which seems to suggest they may already be in recess https://www.riksdagen.se/en/ I don't post very often but have been in this share for years also. I feel more positive than ever on an approval, especially when KB says they are in constant dialogue with the government (why debate if the answer will be a no - much more likely to be getting reassurances re Sami), but as for timing I, like you, will need to consult my crystal ball.

Does anyone know the summer recess dates for Swedish Parliament? Clearly nothing positive going to happen then

Well someone is buying - now up 5.6% at 4.72

You should be more accurate in what you say. IG as just one spread bet company has 13% of their clients short, but these are not share owners! I know because I am long on IG and it is called spread BETTING for a reason; highly risky; highly leveraged and unlike shares it is tax free for gains. This does not mean 13% of shares are shorted by any stretch of the imagination and short tracker shows zero % - this where shorts must be declared to the FCA on a daily basis. https://shorttracker.co.uk/company/GB00BD0Q3L08/

I appreciate everyone has different strategies, but I am at a loss to see why people are selling today. OK we didn't want and were promised there wouldn't be a placing, but it has been done and not at a discount to yesterday's price. We are therefore funded for the drill and the only potential downside going forward is if the oil doesn't flow, which given that it is already flowing naturally, is relatively low risk. If institutional investors are prepared to take shares at the market rate, why would any PI sell now at less than the placing when the forward programme has just been de-risked. I guess it is because they are still listening to the doom and gloom gang, but hey, their day has come and gone and we are at 50% of what it was as some correctly predicted. To assume it will drop further is to assume that the institutional investors are stupid (which could be true) and no oil will flow. Personally I think these risks are now VERY LOW

Or the number of shares issued will be lower, because as the share price rises, the more he will receive per share

Cos there is more than one investor! Read the RNS

I believe it means the share size bought means that they effectively own enough to be on the board ie are joint owners and therefore have decision making roles. Not absolutely sure as the term is normally used for co-ownership of property

Oh and it is “up to 8.5’ giving them room to fund some or all of topside work without off-take finance if needs be. This is a great RNS, but very poor that we had to get to 5p before a deal was struck

Did you guys not listen to the presentation? The off take finance was/is for the considerable cost of topside work once flowing. This is great news as there is no dilution still only takes Mcap to £20m and takes risk out for us small guys. Institutional investment without a discount is very positive and price can only rise now providing people don’t whinge and scaremonger

Agreed Irishmouse and for CURIOUS and others spouting insolvency, that only happens when assets do not cover liabilities. The fact that they can’t raise finance by a placing does not make it in solvent and in any event incoming funds are covering working capital needs. They also ignore reference in the RNS to seeking off take financing which, by the way, we all wanted to see instead of placing/dilution anyway. For the uninformed this means a loan with interest repaid from sales of the produced oil. I am up to my neck in this share and tens of thousands of pounds down, but still believe the fundamentals haven’t changed PROVIDING such financing can be sourced. If it can’t, there should be a ready buyer for the licence.

Why don't people read the RNS before selling. It clearly states they are trying to avoid a diluting placing and they have several offers of capital financing!!

As a barrister he is a trained orator so I am hoping it was deliberate. Fingers crossed for us all as being way under-water isnt a nice feeling at the moment

I don’t have a calculation but others from a few years ago (bloggers or brokers) suggested 50-70p because of the very high quality ore

UK Ministers don’t get up early to deliver info to the city. The information is only released to the company involved and they prepare the RNS. It may also be made public via a website or briefing, but this is normally after an RNS. The important thing for me is that this time the Swedes have said they won’t release the info until after the RNS and that suggests that the item for decision will not appear on the weekly agenda, but instead be a confidential item. If so, it could even be on today’s agenda - unlikely but I agree with others that I do believe it will be soon.

FFS I know and stated people do make mistakes, so no need for the caps and the exclamation marks. The post was to trigger a debate about a supposedly random reference to ENI which may suggest something more exciting. There is no need to be rude to posters trying to stimulate meaningful debate

Does anyone else think that with all his barrister experience (where references are made in court for the ears of the jury even though they will be told to disregard it) that DS deliberately referenced ENI in his proactive investors interview? Seems very odd to have mentioned them by total accident if he was only ever dealing with SNPC. Was this a deliberate hint or truly accidental reference that ENI are involved in next stage?

Hey shall we celebrate - now 0.63% up :)

Great post TIPTOP. Like you i am in it for the long(ish)-term, but I have chosen to go in via highly leveraged spread bet. Every small movement down hurts me a lot, but I keep meeting the margin call. Of course upside will pay great returns, but there's a fair way to go to just break-even as I bought at 10.5p at £6k a point. DS please ease my and others' pain asap!

Price falling again (down 3.8%) but let's not forget the facts of what we have here.