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RKB: I agree Eufingest will likely be paid back in cash as that is better than converting file a load of shares that are worth nowt. Which is the point I was making with my limited knowledge . If Eufingest would like to be paid in cash I would have thought the other bond holders might be if the same mind .

Of course Eufingest might be worried there will never be any cash ....

The previous bond holders who converted chose not to reject the terms of conversion ( as most did) but were bumped into the whole process in the first place ( by Eufingest) IMHO

Bondholdets other than Eufingest that remain would rather be repaid on the current terms rather than be paid off in shares at a 509% discount ( again in MHO)

More likely Eufingest, if they see a future here, buy out the residual bond holders rather than a lengthy conversion process . If they didn’t want it at last years prices why would they want to convert at these prices ?

I don’t see there being any incentive for them to sell until the share price is above 0.3482p. If they do well they generate income which generates income for CLP which will raise the share price .

If they do badly and are able to recoup 90% through CLP issuing more shares that will obviously not be good for CLP if the share price is below the nominal share price value .

As usual with this company the same facts can be used to build a positive case or a negative one . If this company and any of the others are successful ( eg geosim) then the technicality we are talking about will cease to be an issue.

So they sell £36k of shares @ 0.3482 for example =10.34 million shares. If the market price was 0.25p that would be 14.4million shares so we would have to issue 90% of the difference =approx 9.3 million shares at a cost of £23,250

Something like that. anyway ...but CLP would have 20% of the company still regardless of what they do with those shares. If its revenue generating then thats a big plus for CLP.

I’ve read through it once. Might need a couple more read throughs at least, but first impressions are it looks like a positive move.

It will wobble around a bit for sure but I'll look to add any time it drops under 1.5p, although I expect it will be nearer 1.75 again before too long.
Its been a long journey this share, and exasperating that it has fallen back so low and I didn't sell on the two spikes, but they are getting on with doing exactly what they said they would do, even if it was diluted a bit much for my liking.

I’m here...I posted earlier !

We would be only get 70% Nigel but would still be a very positive outcome .

I always thought that was you! ;)

Ade2017: presumably you won’t see this as you’ve filtered me . I’ve never (intentionally ) been discourteous to other posters and have just expressed my views as I see them , and also been open that I have traded this. After all every one is trading this, just on different timescales and from different starting points .
I know my posts have often been taken the wrong way and a narrative about my motives has developed which is very very wide of the mark . But there’s not much any of us can do about misinterpretation in these forums other than at least try to respect each other’s views even if different from our own.

If the route is to buy further into companies with the potential for actually making money then Geosim might be another candidate? It was top of the list in the business update....

A number of parties (including major oil and gas companies) have already expressed an interest in the Dewar Prospect and are currently in the data room. The farm-out process is scheduled to run for the next few months and we look forward to updating the market in due course.

It does!

I haven’t changed my mind Nigel . This remains highly opaque . I just sense with the number of posters ( more especially on the other bb) appearing , some kind of manufactured ‘bounce is imminent ’ as has happened many times before . Since the good news of fortune cookie and the bond conversions the price has dropped off a cliff , albeit the ongoing mediapolis saga and 64bit debacle hasn’t helped.

I wonder if the guy who spend £30k fighting a parking ticket was Reg Eccles ?

Clp’s famous legal ‘team’ may well have a better chance of securing an outcome here than the Italian liquidators . It may also be part of some new clever deal .

I await with interest . It feels like a bounce coming on anticipation of something being pulled from the hat . Any actual good news tends to have the opposite affect.

Multiple interested parties including majors in the Dewar data room . We heard that before...and it proved correct ;)

...maybe having control of the separate claim will give us that legitimacy?

Cant help feeling not...

Contrary to popular opinion I haven't traded this for weeks.

Far too much attention is paid to individual reported trades. The reported volume is negligible in value and MMs will be more aware than we can gauge what the background pressure is in either direction. There may be big buy or sell orders in above or below the current price with the aim of holding it and MMs will be in the dark just as much as anyone else as to where this might eventually go. It looks like people are playing around with the shares they've got rather than new investors coming in, and until there is interest more widely in investing here the price won't move much IMHO.