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The only timetable I can find is on page 16 of the circular dated 20MAR2019. It states:
1. General Meeting - 25th April
2. Completion of migration - 25th May
3. Publication of prospectus - ASAP after migration
4. Completion of aquisition and trading admission - ASAP after migration
Can this be done in 6 weeks? In any case at last its happening!!
Me too, yes to both. 11m shares. Good Luck.
I am no oil expert, so thanks for the numbers. However, if only applied to the 200m conventional oil in place, it seems to me that Transgas is undervalued. Please keep us informed of anything you find in the documents your planning to look at.
Thanks Maccy
UKOG have commercial discoveries or conventional and unconventional oil at Gatwick but have not yet released a CPR showing quantities recoverable. I expect their mcap will change to reflect the valuation once the independent CPR is published.
Also in my opinion I believe UKOG share price is being manipulated down by the AIM market which allows market makers to naked short. At least when this relists it will be on the main market and the share price should reflect demand and supply.
In the meantime, the circular for Transgas is using historical analysis of oil initially in place showing circa 200 million conventional and 11 billion unconventional. Again imo without knowing recoverable quantities valuation is all about potential.
TTAA. We all have the option to vote the resolutions down, and must be respected. However, most shareholders will probably research the probability of hydrocarbons in these license areas (ie Wytch Farm) and see the massive potential here. So I agree imo that the resolutions will most likely be agreed and this will relist on the main market. As shareholders we must decide ourselves whether we have confidence in GW and the board and whether to remain invested. Remember he decided to take equity in INFT instead of simply selling the areas for cash elsewhere. Best of luck whatever you decide.
Meant to add this link to Wytch Farm wiki...
https://en.wikipedia.org/wiki/Wytch_Farm
Agreed. In my opinion, there is real value in the licence area, which is next to the largest onshore oil producer in Europe, Wytch Farm owned by Parenco. On relist I would expect that high demand and a small free-float (even with dilution for drilling funds) will cause the SP to rise significantly more than double when it was suspended. The big advantage is that it will on the main market, and therefore not appealing just to PIs like AIM stocks.
3.14 IMO the other way to look at this is that the majority of shares could be in sticky hands (ie GW), hence little free-float and no concerns for relist SP
I actually feel the valuation for 26% of Transgas to be on the low side (200m and 11bn conventional/unconventional oil in place). I am no oil expert, but was very pleased when the RTO was for PEDL licenses next to wytch farm (Perenco), which is the biggest onshore oil producer in europe. A successful first drill by INFT could see serious financial returns. Really don't think there is anything to worry about the initial relist SP. Make sure to vote, don't want any further delays. All in my opinion!
I'm voting for the resolutions. The cash shell will have significant assets and I would expect that to be reflected in the opening SP at relist with the funds from the placing for the first drill. All in my own opinion!
I read it that GW will receive £10,740,188.70 in the form of 2,685,047,174 Ordinary Shares for 26% of Transgas - no cash. But at that point he will own 71% of the enlarged company before the issue of a placing which will not reduce his holding to below 50%. There are no details of this placing (together with admin fees) in the circular.
Not concerned of this placing as the resources are staggering and seem low for 200million conventional and 11billion unconventional oil in place, recovery rates are important, but with the successful wytch farm next door, and UKOG success down the road at Gatwick Horse Hill, in my opinion this is looking very good. The market will value the opening SP on Infinity Energy relist main market.
I am no expert, so could be totally wrong - all in my own opinion. DYOR.
Looks like the investigation as mentioned in the RNS dated 29MAR2018 has now come to some important lessons/conclusions about acidisation. Good news for this new oil play in the UK.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UKOG&ArticleCode=t2eb8eq0&ArticleHeadline=Final_Results_for_the_Year_Ended_31_December_2017
"As to whether these 'BB' fractures remained fully or partly open during the necessary pressure draw-downs following acidisation used during testing is currently under investigation"
...
"With this in mind, serious consideration is being given to a possible future short sidetrack, BB-1y. The sidetrack's objective would include a selective re-test of the main KL units, likely utilising an alternate completion methodology, new completion fluids, the possible use of small-bore radial drilling and other reservoir stimulation techniques. Any future work at BB-1/1z would likely take place after a successful trial of such alternate methods and technologies in the next planned PEDL234 exploration well. Such future operations will require further in-depth study of the vast amount of data collected during drilling, coring, electric logging and testing before any conclusions can be finalised.r a successful trial of such alternate methods and technologies in the next PEDL234 exploration well."
Move from Luxembourg to Guernsey link for anyone as this does not appear as an RNS yet:
https://infinityenergy.eu/wp-content/uploads/2019/01/Infinity-Announcement-310119.pdf
It looks like this contingency was first mentioned in the 17/10/2017 RNS announcement, agree its taking too long:
"In order to facilitate the RTO and create a more suitable corporate structure to support the expansion and growth of the enlarged Company, the Directors are also proposing to seek Shareholders’ consent to migrate the domicile of the Company from Luxembourg to the Island of Guernsey by means of a reregistration process. The Company has been advised that this is a relatively straightforward process and has been carried out numerous times before by other companies."
Hope things are finally moving forward with this 'straightforward' process!
Looks like this is going to happen, the prospectus and CPR should be next according to the RNS 11thSept:
https://investegate.co.uk/Index.aspx?searchtype=3&words=Inft
millie99 - I hope the website will be back soon to keep us updated. Website link: https://infinityenergy.eu/
Also the last official INFT RNS update was on 11th September. You can use this link to see the update and occasionally check for new updates:
https://investegate.co.uk/Index.aspx?searchtype=3&words=Inft
Hope this helps!
Not sure its true that you need to be commercial to apply for a main listing. I know of a former AIM cash shell who are currently applying for a main listing with only PEDL licences.
https://investegate.co.uk/infinity-energy-s-a---inft-/prn/update---intention-to-seek-listing-on-standard----/20180209103953P1816/
I am no expert on financial markets but
"AIM is seriously corrupt as MM cam naked short without disclosing or covering."
was once tweeted by DL...
https://twitter.com/DavidLenigas/status/1021538290363785218
SS gave a 40min talk about the geology at Horse Hill, particularly the Portland and Kimmeridge layers. A bit technical but well worth a listen...
https://www.youtube.com/watch?v=SCQuL4rVAlg&t=2s