When the rose tints take control of a board. There is always an alternative view.
One in which the company managing to con an insti into buying over priced shares to keep the lights on over winter has to return to said insti’s to fund next year’s campaign.
Let’s face it the Liberator Phase I plan - self funding with multiple wells - is now toast.
i3e managed to defer payments to their rig company til Autumn 20 and paid services companies with options excisable at 50p+ FFS!
Now what are they going to do? They need to raise 10’s of millions to forward next years plans and have ****ed off everyone in the industry.
Chances of a Reserve Based Lending facility? Not good IMV. Now talking of one well on Lib that is still to be paid for.
Just thinking those 35p buyers will be taking their pound of flesh at the next raise. Only question is at what price.
But then they may get the RBL away! Haha not really.
Please read the RNS and not rose tinted BB twattery IMV
This is very far from a slam dunk “someone paid 35p so that is what it’s worth” scenario.
All IMV of course. We’ll know what this is all about by lunch time Monday I reckon.
strictlyinc they raised £2.66m in June in a placing with Lanstead. They get more if the SP is above 13.33p in the month and less if it falls below. Cash at end of June was £2.3m. They are also trying to dispose of 2 products but I can’t find any info on their value or likelihood of sale
Thanks for the info 1878.
I was also wondering if you or any of the LTH’s have a view on the following from the Lanstead RNS ...
“ The proceeds of the Subscription will be used primarily to fund the execution of the Company's corporate strategy as announced on 7 May 2019. This includes progressing Lupuzor(TM) through both corporate partnerships and regulatory pathways and proactively pursuing the 'spin-off' of the subsidiary companies, Ureka and ELRO, in order to unlock their future potential and enhance value to shareholders.”
.... Specifically do Ureka and ELRO have value and what are the chances of them being spun off? Apologies if this comes across as a lazy question but I find the views of LTH’s often more informative than company RNS which tend to be exercises in arse saving to be blunt.
Cheers and TIA
I’m generally not a believer in coincidence and so I find it hard to believe that the precipitous fall in SP beginning at 9 am this morning and the release of this less than stellar RNS this afternoon are not related. But that’s done now.
Over the coming days the “market” will be on the hunt for a new equilibrium for the SP. One that takes into account 20 feet of “oil indications”. I think Mr Market is going to be brutal frankly.
This is a turd that will be difficult to polish.
I’m sorry Gkahn but your logic doesn’t follow either.
There are two hurdles to clear
The first being the granting of the exploitation license. I think the market is expecting that as Mongolia will want to see Heron producing so I doubt that this news will provide anything but a short term spike courtesy of the rose tint brigade. And it could take a number of months. All the while the SP falling like a stone.
The second, and far more important, hurdle is financing which common sense dictates will be via a placing. MB has not ruled this out and has so far just spouted platitudes along the lines of “all avenues will be explored”. I’m sure they will but heard it all before. I can not see any credible organisation pumping millions of dollars into an unproven field. Sorry.
So IMV a placing is coming and coming soon before the SP dwindles away to the 2p range.
We will see who is right. Frankly I actually do hope it’s the rose tints because I don’t like to see real people to lose money. Just can’t see it unfortunately.
Anyway good luck
Master82 the share price rocketed on pure speculation. Unfortunately that all turned to dust. Matd also had far far less shares in issue at the time. IMV I would expect near to 1 bn shares in issue by the end of this winter. So work out what 30% of your current holding is. That’s what you will need to buy just to keep your current position.
There are people on here who continually remind viewers of that rise. IMV that is disingenuous to say the least.
No serious bank or company will look at throwing money at a company that has finally managed after a decade of trying to find 1 well that delivers 200 bopd. Why the f*ck would you?
MATD need to prove they can monetise Heron before any sensible organisation invests IMV.
A placing is nailed on so far as I can see. But good luck all the same
This is exactly the type of thing that does well in “focus groups “. You need to understand that the “people” you think you speak for are not you. They don’t own BT shares. In fact most don’t even remember having the crown jewels of British industry stolen from them. They just have **** overpriced broadband if they are lucky .
I reckon this is a vote winner so many of you should just start lubbing up.
“ A Labour government would compensate shareholders by issuing government bonds. Mr McDonnell gave an absolute guarantee that no pensioner would lose out as a result of the nationalisation.
He said Labour had taken legal advice about the move, including ensuring pension funds with investments in BT are not left out of pocket.”
If there is a sell of tomoz - and that’s likely - I’ll be seeing it as a buying op once every one calms down
Sadly that’s not how it works Topp0. The field needs to be developed and throwing around figures like 25mmbo is what is done to create a buzz which hopefully lures in investors who will finance that development.
I think it will be developed but via yet another share placing. Talk of Farm in’s with PC or bank loans are frankly delusional IMV. It will be developed via the hoary old f*cker known as a placing. And if you can afford to average down you might still be in the game. Placing price should be in the 3p range if you’re lucky.
All in my view of course and good luck fella
Not worked since 2017. And about to receive a 33.3% dilution up the wrong ‘un over at MATAD. On top of his 10p average. Oh dear, how sad, never mind.
Post dilution there will most likely be money to be made over there but sadly not for Mike who has done his b*llocks in already.
OK the uber thing is a joke (probably) but Ironically BLOE seems to be the only share he has actually made money on. Bought at 5p saw it reach 17p but then shat his pants and bailed around 10p. Might have been a wise move had he reinvested in BLOE but it would seem he averaged down still further at MATAD. Or some of his other disasters.
He’s a bitter twat but then I suppose I would be if I was at least £20k in the hole at MATAD - a lot for most but especially for a tragic 31 yr old singleton living in a bedsit in Croydon. (oh and with a rather disturbing view of women - most likely grounded in the fact that they pay him no attention. Seriously - a psychiatrists dream.)
Boo f*cking Hoo
“ In an argument (usually a political debate), a concern troll is someone who is on one side of the discussion, but pretends to be a supporter of the other side with "concerns". The idea behind this is that your opponents will take your arguments more seriously if they think you're an ally. Concern trolls who use fake identities are sometimes known as sockpuppets.”
What a wonderful world !
I like sockpuppet though. Great word
stilbite we know 16az was a bit of a f*ck up and we know the reasons why. But thats water (quite literally) under the bridge now.
At 38 they have successfully cemented the liner through the main problem zone and drilled a much longer sidetrack (including using swellable packers where necessary) through the production zone.
They have done everything possible to make this well a success and if so I reckon you will see your 15p no bother
Good luck bud