Member Info for legache

Its only non binding Obone as it requires shareholder approval. I've been involved in something like this with another AIM company. I am expecting shortly [or as soon is practicable] to receive a circular in the post explaining why I should vote for this merger. If they make their case strongly enough and if it seems value accretive, I will vote for it. If they do not provide me with enough information to make a reasonably informed decision, I will not vote for it. I have about 0.75% of the company so its hardly likely to make a jot of difference though.

Obone, As LTHs I am actually pleased with the suspension. Hopefully it means we can get Sant Alberto up and running, get Q3 and 4 production numbers looking healthy and build the cash. It also means, because they need our votes, they will have to be much more transparent via the publication of the circular. This can only be a good thing, as this PR firm are an absolute disaster for us. My main concern now is the read across valuations with PVE and SOU assets. Is this a good deal for us, or them?

dactions - they won't have to notify until the shares are admitted. Likely these pertain to the very large purchases we say just before suspension.

I'd hazard a guess that spreadex loaded up before we got suspended, safe in the knowledge they can sell into the rise. One for the FSA, perhaps.

Stefania. Instead of spamming our board with stuff like this, why don't you spend some more time providing detailed answers to our emails. Just a thought. Like Theresa May, you will only get away with not answering the question for so long.

Masterman said 3 months, assuming all goes to plan.

In my opinion, that placement was just a fig leaf to slected insiders. They'll sell into any rise when this comes back for a certain amount of profit. There no way they can justify that placement, like you say, just hours before. Its not like the share price was strong, in fact the opposite is true. Also, I'm keen to know what is happening with the share PVE were going to distribute [the lock in period ended April 2018]. Has this deal made with the guys who originally subscribed now been ripped up? Also, voting, I'm assuming PVE will vote on block for this. What power have us PIs got to resist it, if it turns out not to be in our best intrests (i need more information to understand this one)

Can anyone tell me what MMs new role is. Non executive?

Brokermandan rumor. Although he seems to often be close to being correct! That would be quite something, but really, we SRON holders are already diluted enough as part of this deal. Please no more unless the deal works for us!

It remains the intention, as previously stated, to make an in-species distribution of all Saffron Energy shares held by Po Valley Energy to its shareholders at the appropriate time. --------- I wonder when the appropriate time will be. They where locked in until April next year, so surely it cannot be before then. Need to keep an eye on the circular when it comes out and find out what MM intends to do. As a SRON holder I am keen for these shares to stay locked in until such time as the market can take it.

so in answer to my own question, we are drilling Selva with UOG in Q4. Great news!

The current status of each of the pooled assets is as follows: (from the PVE press release) Production and development: Selva onshore gas field (2C 17 Bcf), Teodorico offshore Adriatic gas field development (2C 47 Bcf), Sillaro (2P+C 3.3 Bcf ), Bezzecca (2P+C 6.0 Bcf), Sant� Alberto (2P 2 Bcf), San Lorenzo (2P 0.1 Bcf), Rapagnano (2P 1.0 Bcf) Exploration: Torre Del Moro, Laura (most likely 17.1 Bcf), Dalla (most likely 24.6 Bcf) Maria Goretti (most likely 32.8 Bcf).

We all seem at a loss to identify which assets they are, at this stage. I'm sure all will become apparent. Quotation below indicated these are "NEW" assets, that are being transferred. Maybe NEW as in undrilled? "The centrepiece of the proposed restructure will see UK-AIM listed and 54%-owned Po Valley subsidiary, Saffron Energy (LON: SRON) become the three way host vehicle for its own existing Italian energy assets as well as three new Italian assets owned by PVE"

Very funny. I meant assets. I had very little prior knowledge of them.

I'm still trying to figure out who owns what in this new business. I suspect they are as well!!

I believe that drill will take place while we are suspended. I'd be interested to know what PVEs cash position is. After all they are paying for 80% of that drill.

Looks like we will be partners with UOG in this asset - 35bcf. Looks ok to me! http://uogplc.com/italy-podere-gallina-licence

well, in the immediate future i see three months of suspension and I await what their plan is with interest...

We're going to have some interesting chat on here for the next 3 months.

i'd expect to see a circular issued by Saffron with details of an EGM. We can then vote on the proposal and from there we can expect CORO shares to be admitted to AIM, SRON delisted and off we go. There's lots of questions I have. They haven't necessarily got my vote yet.