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Of course, receiving the notice from the other company was a major event that required notification to shareholders.
Yes?
I take it you're not all that experienced in business Scully?
Two parties make an agreement. Agreement lasts until X date unless extended by Company A.
Company A subsequently decides not to extend agreement. Existing terms remain in force until agreement ends.
You know, a contract and all that?
Scully12345 very good balanced post thanks.
I stopped reading as soon as I got to "As [sic] it even been proofread properly". LOL.
Scully - do you know a guy called Degsy by any chance?
So now the idea is that:
1) the RNS is actually incorrect.
2) the major is still really interested.
3) the RNS has been intentionally used to tank the share price.
4) Insiders who know the truth have been loading up.
5) Next week all will be revealed that this was all just a terrible mix up.
or
1) The major has actually just decided they weren't interested anymore.
Dun dun duuuuuuuun. I wonder which is more likely?
Spelling check from someone who uses "lol". Good god.
Why would the major wave a few days of a deal they've already paid for? Why would anyone bother? That's your big trigger?
Let's see the two options:
1) Major has ended the exclusivity period as they've decided that they're no longer interested.
2) Major has ended the exclusivity period... but are actually still interested (ended the exclusivity for reasons unknown?) and BPC has released this RNS in order to temporarily tank the SP so that their friends can (illegally) buy cheap shares before it's actually revealed that a deal is happening with the major. Because this is how major oil companies do business?!
Let that rattle inside your head for a second and see which one sounds most likely.
Vague wording?
The oil Co gave notice that they're ending their exclusivity period. Your proposal is that they've decided to do this but are still pursuing a deal? Let's return to planet Earth for a while.
The company that was potentially interested are no longer interested. No matter the level of linguistic gymnastics that you might want to do to tryin order to convince people otherwise.
They can't / wouldn't give out info like that.
It's a team of people, including constant chancers like Degsyalmond, trying to build a false narrative that will cause a SP rise that they can sell into.
I saw a code 867: 867 - are you really thick enough to believe that MMs use specially numbered trades to communicate with others. Not sure if I believe it though?
Shorts closing.
I like you duster.
I am real yes.... well, as real as any of us are. Know what I mean?
So just to recap:
You think that the timeline might go past the target, but hope it doesn't. You called IR hoping to be told that end of September was still the target but were told it's open ended, but this didn't inform your idea that the deal might take longer than the target, instead that's only based on your experience and none of us should get hung up on targets.... or phone IR enquiring about them etc as targets can slip anyway and, thinking about it, IR couldn't really say anything more beyond what the company has said... and anyway it wouldn't be important as we shouldn't get hooked on dates anyway. Phew.
Right, must dash off to make some mashed potatoes for dinner. I can't wait for the next thrilling instalment!!! :D
I'm getting even more confused now!
Target is end of September.
Your quote earlier today - "A lot of talk on here about this being sorted in September, but this could drag on a while into year end hopefully not.".
He didn't say anything about targets not being met.... but you inferred that somehow! :D
Why would I call IR, I go to the horses mouth if I want to ask questions. You should give it a whirl.
I'm still confused dusterinmong.
The company has told you, me, the world via an RNS about what they are aiming to do. As far as I know, they haven't changed these target dates (I am getting old though, my mind could be playing tricks). Why would you take an apparent non-committal response from an IR company as meaning that the previously RNS'd dates are now not likely to be achieved and this was now going to drag on to year-end?
If the target dates were not going to be met, and IOG management had that knowledge today, do you think IOG management would update that market?
Give the CFO / CEO a ring. I'm sure they'll be happy to have a chat with you about it (and I mean that genuinely).
I'm confused dusterinmong.
The company has said they are aiming to conclude by end of September. What was it you were expecting IR to tell you given that nothing else apart from the already communicated target is in the public domain?
MR background is really in gas with Markham. Development wise of course, I'm sure during his O&G career he's worked on plenty of oil jobs too.
The Skipper license is up early 2019. If I were betting I'd imagine that it would be relinquished, unless Equinor (Statoil) decide they fancy getting on board as North Sea heavy oil, apart from Mariner (and Bressay) is not high on many big companies agendas.
Gas on the other hand is where a lot of companies see growth. Hence Shell purchase of BG as an example.
Will be an interesting 12-18mths coming up.
Think bigger - whats £50mill at 0.5p? :( 'Only' was right all along. Where is that guy actually, it's been so long.
More generally about LNG but it's an interesting take on the overall gas market situation over the next decade or so.
https://uk.mobile.reuters.com/article/amp/idUKKBN1KR156
600Thieves - Also worth considering that Ithaca had c.£500mill of debt. The gross takeover value was around £1bill.
Now, I'm not saying that IOG 'will' be worth £1bill, gas/oil ratios to be considered etc and not everything is built equally,, but we do start to move toward similar metrics.
Still early in the game of course but always good to have one eye up ahead!
Those Swiss plebs should've waited for the 25% discount.
8p I think.