Member Info for levistubbs

12.5p as stated, what a joke.

Another week down, may be next week or the week after or..................

Thanks Badger. Jamaica is a bit of a worry as I think it was quite an attraction for investors looking at the company portfolio. Tlw have hit a snafu in Guyane so who knows what their plans will be with it.
With regard to Colter I just don't think the partners will have the inclination to go for it again against a head wind of nimbys and green issues. Not surprised Corfe walked.
May be Egypt will change everything and there will be a big change in direction and much of the UK stuff will be junked.

Thanks Badger excellent post from you as usual. Yes Jamaica does raise some concerns. As for Colter and as I posted a while back I don't think any of the partners will be in any hurry to return there and I think it will be consigned to the history books. I hope we get a full update on relisting.

FWIW I think it will be somewhere between $5-$7m as they will not want to leave themselves short for drilling further wells in Egypt and whatever else is planned, although we have heard nothing on other projects since suspension. Much will depend on RKH taking up the full $5m in shares. UOG had just over £3m left in cash after Colter and received some money for the North Sea sale. BP are stumping up $8m and there will be money receivable from Jan 1st Egypt oil sales so $5m does sound enough. So $10m (5 raised plus 5 to RKH) is £7.75m is 195m extra shares at 4p inc' costs. So circa 560m shares in issue at 4p which would be £22.4m mkt cap. But may be the company might do a small consolidation at the same time, all sorts of possibilities.

Yes gkb47 I am sure that is right. But I am also eager to know about the drill or drop on Jamaica, whether they have decided to go ahead with Benin and if so what work has been done there, and all the other bits that were lauded in the conference call of last December and March.

You're welcome Catchingpigeons. I think like you I am may be expecting Q1 20 but I do think the company owes us an update sooner rather than later.

Catchingpigeons the company alluded to the deal concluding in Q4 in which we have about 24 trading days left. Time is getting tight and we also need news on the other projects as well as CPR ahead of raising.
Any price or market cap on relisting would be pure supposition and much depends on what the company can raise at.
I would hope the price would be quite a bit higher but who knows in this market.

Well beyond a joke.

Thanks Jupiter.
Yes he sounds very confident and as he keeps saying he has put his own money, albeit at a low level and nice return.
If it is all so great there should be no problem getting a good priced raising away to benefit the shareholders that have been suspended for so long and it is on that I will judge him.
Ok saying give it 3mths more and see where we are, get a good placing away and give us chance to give it another 3mths rather than see where we are going and lose more and end up only getting 6p instead of 12p.

Not a mention again in Tullows comprehensive update.

Bit of profit taking and back test first by the looks of it.

Package adds up to £400k for raising at a crap price, spending all the money, collapsing the sp, screwing shareholders and having us suspended for 90wks plus. Utter cobblers. And the prize for the biggest nose in the trough of 2019 goes to DeL Boy.

Boris if they raise the £4m at 12p as has been mentioned then the market will be circa £7.25m. A bit more than that now Linsley has just been given a slug of shares for abject failure.

Oh dear a golden handshake for a pr**k.

Indeed Bythesea.

Thanks CatchingPigeons. Let's hope they can get this over the line with a good value raising.

Steve it's not Aim. I am certain this will come back, what bothers me more is the raising price set. It is obvious from recent Rns that the Minto Mine looks an extremely viable prospect. Thus I am frustrated to hear that the raising price may be 12p and the new Ceo has set his loan up with very nice terms for himself. Raising £4m at 12p will give a mkt cap of circa £7.25m so nice and cheap for the new investors.
What of existing shareholders, the reason that this company still exists at all, well it looks like we will have to hit the ground carrying our big losses and hope this bunch can do enough to get this up to the 30p that might see some of us break even.

Decisions how do you know this and the listing price if it has not been concluded yet?

Good news by the looks of it but another missed opportunity of Gati to add a note about relisting. Also more good news that has not been able to affect the sp due to suspension and it will make no difference to the relist price which has probably already been sorted in the favour of new investors and to the detriment of existing investors.

Banned for the foreseeable future, hopefully the follow up will be more emphasis on the North Sea instead of filling the gap through imports. Might add more value to our licences in time, although many of our licences are oil targets.