Am correct £0.9m invested in Lek , for 177.1m shares . With options on a further 22.9m shares making 200m or 25% of the company.Hardly material however gives exposure and influence over a significant 774 MMboe of reserves .
Save will now let Lek sort its internal wrangling out over the next weeks and months . Perhaps save will appoint it’s own board representative to advise Lek accordingly.
Excellent deal for save regardless of Lek/afrens past history. Hopefully Lek can leverage saves excellent track record in Nigeria and get Lek back up on its feet .
AK has certainly not bet the Crown Jewels on this but certainly could get a large cheap asset years down the line for at least 25% discount
It appears that save was in a holding position whilst the bond holder got out . Bouncing around 26-28p mark .
It reminded me of the weeks before suspension treading water until deed is done.
Now seller is cleared , slack has now gone shares safely tucked away . The hand brake comes off for the next leg up
34-35p pronto in my opinion
They are not obliged to suspend as no material news has been released…. After hours tonight imo , before market opens uk
If it was unsuccessful I don’t think they would announce so quick into the drill ….
Sniper
I don’t believe adv will suspend however I believe cvn will announce after hours tonight
Trading halts are standard practice in Australia, mainly around funding and placing.
Asx rules state ….Typically, this will arise where a listed entity has become aware of information that a reasonable person would expect to have a material effect on the price or value of its securities but it is not in a position to make an announcement about the information to the market promptly and without delay."
one significant thing i took from AK presentation last week was they plan to pick the low hanging fruit with him saying there is a lot of oil behind pipe .
this i believe could be significant production in the short term , with minimal capex .
There was a lot of conjecture regarding vitols involvement here whilst in suspension, however that’s all gone quiet since relist. Also I note there has been no holdings rns since we relisted last week .
Any thoughts from holders on this …. Is it safe to unfilter the Dmong yet ?
Good news as I’ve been a holder here for many years I bought a tranche at 26p years ago and today it finally got into profit .
However my 7.5p buy is sitting just under 300% profit overall very happy to hold long term here just contemplating realistic share price targets .
70-75p here would get me a very nice place abroad , no pressure AK
It appears that this is have a nice orderly rise up over what I originally expected to be a volatile opening the first two trading sessions.
Markets original reaction was a bit lack lustre for me if I’m being honest. Now happy with a slow build up to where this should be 35-40p imo .
Not much still priced in as I believe if we were trading throughout suspension it would be well above 25p .
Anyways long termers seem to be holding here as will I do for life changing gains
Dyor GLA