Member Info for LayLadyLay

in4cedros ... "We've had the unsubstantiated theory that LGO sell huge volumes of water to Petrotrin , you're also scaremongering about liability for suspended employees in Spain ( which you still haven't evidenced ) now you're on about a decline on the latest drill - have a look at the graph on the March Corporate Presentstion - you can plot the expected decline against the model for Mayaro drilling - you will have to make an adjustment because the latest well came on at 55 bopd rather than the 45 bopd used in the model - unfortunate for bashers that the curve starts higher up but that's life!" "Well GY-682, completed in mid-March, was perforated over a 273 feet of net pay interval and produced at an initial rate of 55 barrels oil per day. Production is continuing as expected from GY-682." "The earlier well, GY-682 was producing at an average of 32 bopd in the first half of April with a relatively high water cut and by contrast with GY-683 this may suggest that some of the perforated zones are affected by depletion." "Compañia Petrolifera de Sedano ("CPS"), the LGO subsidiary, has suspended its workforce, pending the re-awarding of the Ayoluengo concession that expired in January 2017. The suspended staff will return to work once the concession has been awarded, either to CPS or to the new concession owner. In the event that no concession is awarded, then CPS would be required to make the staff redundant, at an estimated cost of approximately £0.33 million. This eventuality is seen as a low probability event." The only persons suggesting that water is being sold to Petrotrin is you Mr Joker and Free.

in4cedros ... I notice you stopped mentioning water when Neil referred to GY-682 having a high water cut. "The earlier well, GY-682 was producing at an average of 32 bopd in the first half of April with a relatively high water cut and by contrast with GY-683 this may suggest that some of the perforated zones are affected by depletion."

RBS will sort themselves out eventually but it's going to be a long hard slog and there's not much sign of any significant progress being made. W&G divestment strategy seems to be in tatters and at what cost already? Brexit will be a ready excuse as it is for all banks. Onwards and upwards ... maybe?

... is required in order to clarify the exact way that the deal will be structured. To date we only have an outline of the deal and judging by the speculation on here there are many questions that need answering. It seems to be clear that the BoD have ensured a continuance of their salaries for several years but we need to know how all this is intended to play out and what benefit existing and future shareholders can expect from this deal. We all know the gold project needs funding and we expected that any LC deal would provide those funds. It seems crazy to give away 70% of LC and loss of control simply to progress the project to the feasibility stage. Where is the silver lining for shareholders? I sold out last Friday as I didn't want to gamble on whether the news was good or bad. My average was only 0.2 so I was able to bank some profit at 0.276. I know that's cold comfort to those on high averages who have been here for years waiting for the goose to lay the golden egg. If there is to be a happy ending to this one then I will certainly be looking to buy back in. It's up to the BoD now to tell us what's going on in more detail and allay the fears of those who feel that LC has been stolen. Fingers crossed for a good update and good luck!

... and glad I did. AIM is a cruel mistress and you need to stay one step ahead. Good luck to those still holding. I may get back in sometime once the dust settles and there is a bit more clarity about the deal.

MNC has been flying under the radar of most investors but not for much longer. Any one of three projects could set this alight and if they all align then the sky's the limit.

He has asked admin to reinstate his previous name, onceatrader, and GB history is now gone.

Not for me either. Once bitten etc. I would rather take a chance on backing a three legged donkey in next year's Grand National.

Once a pre-agreed threshold of bids is achieved PrimaryBid.com will contact the Company with an offer for a placing with a range of preferred share prices given by investors. Alternatively the Company can ask to see their bid book at any time. Even though the Company will be able to see the bid book at any time, these bids are only firmly committed by an investor outside of market hours. Once the market has closed for the day, the Company can treat all bids as firm and can elect to proceed with its placing with all or some of the bids. In the event a placing at a certain price is agreed between the Company and investors, an RNS announcement would be made prior to the market opening the following day. On completion of the placing, the Company will transfer the relevant shares to PrimaryBid.com who will then transfer funds to the Company and arrange settlement of shares with the relevant investors. Full details, including details of who may apply for shares through PrimaryBid.com and how existing eligible shareholders may apply for Kea shares, can be found on www.primarybid.com. For further information please contact: Kea Petroleum plc David Lees, Executive Director Peter Wright, Finance Director Tel: +44 (0)20 7340 9970 Tel: +64 (0) 4 385 0032 WH Ireland Limited (Nomad) James Joyce James Bavister Tel: +44 (0) 20 7220 1666 PrimaryBid.com Tel: +44 (0) 20 7491 6519 Buchanan Mark Court Sophie Cowles Tel: +44 (0) 20 7466 5000

PrimaryBid.com The PrimaryBid.com facility will enable all current UK shareholders, as well as new potential shareholders, to bid for new Ordinary Shares in Kea at a price of not less than 1p for each new Ordinary Share. By using PrimaryBid.com potential subscribers can place a bid for new Ordinary Shares, by setting a maximum price and a monetary amount for which they are willing to subscribe. PrimaryBid.com provides the opportunity for those private investors wishing to purchase small parcels of shares to participate in a placing, something that is often not available with conventional placings. Further details on PrimaryBid.com are provided at the end of this announcement. In order to use the PrimaryBid.com platform, any interested party should access www.primarybid.com and undertake the appropriateness assessment and a review of the terms and conditions applicable to the facility. The Directors of the Company reserve the right to submit bids through the PrimaryBid.com structure. Details on PrimaryBid.com PrimaryBid.com, is an online platform dedicated to equity crowdfunding for AIM-listed companies. PrimaryBid.com provides a new channel for the Company to raise equity from private investors. Primarybid.com allows private investors to bid directly for new shares in the Company at prices of their choosing, subject to certain limited restrictions. The Company has full discretion as to whether to proceed with a share placing to raise capital through PrimaryBid.com. The Company can consider any number of bids presented through the PrimaryBid.com platform and determines the final placing price at which new shares will be issued. Shares may only be issued to the extent that the Company has the requisite shareholder authorities to fulfil the issue. Everyone whose bid was higher than the final placing price will receive full allocation of their bid; everyone whose bid was at the final placing price may receive their full allocation or may be scaled back. Everyone whose bid was below the final placing price will receive no shares as their bid was unsuccessful. The Directors will not proceed with the fundraising at an issue price below 1p per ordinary share. PrimaryBid.com provide execution only services to individuals looking to invest in AIM-listed companies. Nothing on PrimaryBid.com is to be regarded as either information or any opinion or advice or an offer to buy, sell or otherwise deal in securities in a particular way. PrimaryBid.com will provide the Company with ongoing access to an aggregated book of bids submitted. Investors will have access to all postings on PrimaryBid.com and will be able to state their interest in a company and give details on how much money they are willing to invest in that company at a particular share price. Once a pre-agreed threshold of bids is achieved PrimaryBid.com will contact the Company with an offer for a placing w

PrimaryBid.com has been made available through Darwin Strategic Limited ("Darwin"), from whom the Company has previously successfully raised over £2.7M, net of costs, to facilitate the drilling of Puka-3, the installation of new pipework and a new downhole pump in Puka-2. Darwin Strategic Limited is authorised and regulated by the Financial Conduct Authority. RISK There is considerable risk for anybody deciding to bid or subscribe for new Ordinary Shares in the Company. The Company's financial position is precarious and its current working capital position is tight with sufficient funds for operations until shortly after the forthcoming general meeting. The Company is unlikely to survive in its present form, if at all, if the necessary funds are not raised through PrimaryBid.com or through other means. The Company will not accept any subscription via PrimaryBid.com if the total amount to be raised is not sufficient to meet its funding requirements for the cost of drilling the Shannon well and the Company's ongoing working capital until the end of the drilling campaign in Q3 2015; the Directors have concluded that the minimum subscription of £3 million must be raised before any new Ordinary Shares will be issued. General Meeting In order to be able to raise these funds Kea will require Shareholder approval to allow for the creation of 400 million new ordinary shares. The Directors have insufficient authority from shareholders to issue the maximum number of shares required for the proposed fundraising. As a result the Directors have decided to convene a general meeting (the "General Meeting") to seek and obtain authorities which would cover all of such shares. The General Meeting will be held on 8 May 2015 at 12 noon, and the PrimaryBid.com book will remain open until 7 May 2015. To ensure that the Directors will have the authority in the medium term to issue further shares to meet any further funding requirements, the Board is taking the opportunity afforded by the General Meeting of seeking shareholders' authority to permit the issue for cash of up to a further 100 million Ordinary Shares, in addition to the up to 300 million ordinary shares for the Fundraising through PrimaryBid.com.

RNS Number : 8360K Kea Petroleum PLC 21 April 2015 For immediate release 21 April 2015 Kea Petroleum plc ("Kea" or the "Company") Proposed Placing of Shares via PrimaryBid.com This announcement amounts to a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Darwin Strategic Limited, which is authorised and regulated by the Financial Conduct Authority. Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, announces that it has today joined PrimaryBid.com (www.primarybid.com) to facilitate a proposed equity fundraising of not less than £3 million before expenses at a minimum price of 1p per share ("Fundraising"). The Company proposes to convene a general meeting for 8 May 2015 at 12 noon at the Company's offices at 5-8 The Sanctuary, London SW1P 3JS. A copy of the letter to shareholders and the notice of general meeting will be made available on the Company's website at www.keapetroleum.com and a further announcement will be made once that has been published. Kea proposes to issue up to 300 million new Kea ordinary shares of 1p each ("Ordinary Shares"), giving shareholders the potential for significant upside albeit not without risk. (Please see the section head "RISK" below.) The new Ordinary Shares in Kea will be made available through PrimaryBid.com, which has similarities to crowdfunding. Those intending to subscribe for new Ordinary Shares ("Bidders") bid via PrimaryBid.com, setting a maximum price per share and monetary amount for which they are willing to subscribe. On completion of the bidding process, allocations are made to Bidders at the highest price necessary to complete the Fundraising. The intention is for the bidding process to raise a minimum of £3M and shareholders, current, past or new can bid to buy Ordinary Shares at a minimum of 1p per Ordinary Share, albeit that the Fundraising is open to any person eligible to use the PrimaryBid.com service. Bidding may be at prices in excess of 1p per Ordinary Share and therefore if the total bidding exceeds £3M and prices are in excess of 1p then a scale back process will work as described in the final section of this announcement headed "PrimaryBid.com". The Board of Directors is aware that investors may be able to purchase Kea shares in the secondary market below the minimum placing price of 1p, however only the issue of new Ordinary Shares through PrimaryBid.com will raise the capital needed by Kea. Trades in the secondary market will not raise any new capital for the Company. PrimaryBid.com has been made available through Darwin Strategic Limited ("Darwin"), from whom the Company has

Yes

I got out of KEA many moons ago so I can't give you a quote for a dummy sell. However, the current bid is .60 and I doubt that you will get better than that if you were selling right now.

... to anyone still invested here. I hope that they do get to drill Shannon-1 because this company is now drinking in the last chance saloon.

Kea is the offeree and the directors shareholding is shown because they are a party to the offer. The offeror is not stated but we know from the RNS that it is not a cash offer. So it looks like shares in Kea will be purchased by the offeror who will issue shares on the basis of 1 new share for 'n' Kea shares where 'n' is the basis of the offer. Maybe the offeror is a new company set up by the directors specifically to acquire Kea and issue new shares. A possible scenario would be for the new shares to be issued on the basis of 1 new share for 10 Kea shares. This would be like doing another reverse split which would reduce the number of shares in issue and increase the value of each share by the same factor, albeit the increase may be short lived. Or the offeror could be another oil company in which case, if it is MSMN or MEO for instance, you would end up with shares in one of those companies. Personally I think the directors are buying out Kea via another company set up for that purpose. All should become clear in the days ahead. Just my thoughts and I may be way off beam but we shall see what happens in the ensuing days ahead.

I have observed many consolidations in the past and in general the market does not look as favorably on a consolidation, or reverse split as it is often referred to, as it would a stock split. A stock split is usually well received by the market because it is the action of a company that has achieved a high stock price and wants to offer its shares at a lower price to appeal to a wider audience, albeit the number of shares in issue will increase exponentially in relation to the split factor. A consolidation on the other hand is often seen as the action of a struggling company that wants to increase the price of its shares and reduce the number of shares in issue, again exponentially in relation to the factor applied to the consolidation or reverse split. I have observed that in the majority of cases post consolidation the share price erodes further and can quickly lose a significant proportion of the uplift seen immediately after consolidation. If anyone is thinking of buying more KEA shares at this time I would think carefully as to whether it's wise to purchase before consolidation or wait until after the consolidation. There could be a period immediately after consolidation where the price per share rises for a while but it is likely to be short lived and anyone buying into the rise will likely get spiked. I sold out my shareholding in KEA (at a significant loss) after the PUKA 3 failure and I don't see any reason to invest in this company in the short term. Those of you who still have a significant holding should, in my opinion, hold for the long term as it's not beyond possibility that the company could recover and selling at current price is just throwing money away. If I was thinking of re-investing then I would wait for a period post consolidation as I think the share price in the short term will continue to fall. Just my opinion but please follow your own strategy and good luck to all.

This is a dead cat bounce so beware of being spiked.