Member Info for Mandoo

‘His experience and insights make him ideally suited to support our investor relations programme and goals. He will play an instrumental role in forming and implementing our IR strategy as we plan to start Phase 3 trials with first-in-class product candidate, ensifentrine, in 2020.”

Not sure why you’d plan to start a Phase 3 trial if the Phase 2b results weren’t positive...phase 2b trial was completed on 16th December so results should be RNS’d imminently.

Worth a watch..from 9th Dec 2019.

https://www.edisongroup.com/edison-tv/executive-interview-verona-pharma-at-ekf-2019/

Phase 2b results imminent.

Closed nearly 20% up on TSX so would hope we’ll see a good rise here tomorrow. Getting interesting.

Just saw that...listed on SEDI. He was happy to pay $2.4 CAD just over 6 months ago so not surprised he's taken another 100k at $0.52 CAD. Hopefully should start moving up tomorrow.

https://www.sedi.ca/sedi/SVTItdSelectInsider?locale=en_CA

https://twitter.com/kushmanspicks/status/1206386491385171968

Seems like a fair summary...but as always DYOR.

Definitely a buy. I also bought circa 55k shares this morning in 2 tranches (18,048 and 36,529).

No brainer at this level.

The value of our assets, quoted at $615m in the interims, has now been validated by the court as they wouldn’t have agreed the JPL otherwise. So the question I’m asking myself is what market cap should I attribute the company? Add into this the fact that post restructuring we’ll have significant free cash flow, be debt free and have a proprietary process/technology which is both in demand and can be replicated in other territories (India, South Africa and the UK have been mentioned) and I think we could be talking several £’s. Can understand why investors were paying circa £4+ on IPO. Remember this is not some tinpot little AIM company and our Chairman, as a very wealthy individual (billionaire has been mentioned) and 44% shareholder, will be looking to make himself a return in the hundreds of millions.

Well done to those that held strong and good luck all.

Think NAV equates to somewhere in the region of £3-£3.50 a share. Obviously wouldn’t value you company solely on NAV but quite a lot of disparity between 20p and £3.50! Lol.

Could open a lot higher than 25p tomorrow if they decide to pay a dividend. $100m returned to shareholders is worth 44p per share alone. All will be revealed soon I guess.

Yep - also now giving me quotes to sell blocks of up to 75k shares at a time...not that I have any intention of selling.

My research suggests that the company has net assets (that's after paying off all debts/liabilities) of circa $600 million...does your research differ from this Rocket?

Same for every share. LSE crashed today so all trade data from the last few weeks is missing from every share.

Rocket - can you define what sort of bad news it could be?

Whilst I’m not great at interpreting balance sheets the interim results published in September suggest net assets of $621m...so if the company was dissolved and all assets were sold (even at a 50% discount) there would still be circa $300m to return to shareholder...so roughly $2 per share.

That’s my understanding anyway but DYOR. Good luck.

Joint Official Liquidators (JOL) and Joint Provisional Liquidators (JPL)

Think the free float is actually significantly lower than that. Those with holdings of over 3% of the company account for over 88% of the shares in issue and if the 'major shareholders' section of the company website is up to date then free float is just over 2%...so only 3.4 million shares.

http://www.g3-ex.com/investors/major-shareholders.aspx

From the last RNS...would imagine they'll have firm proposals on these options to take to the hearing on the 11th, so I'd expect an update will be published on the 12th or thereabouts.

Notwithstanding these legal proceedings and the appointment of Receivers on 21st October, 2019, the Company continues as a going concern and has maintained its operations and remains committed to re-structure as follows:

1. Pay its Secured Creditors (Nordic and GIC) in full through either:

a. A Reserve Based Loan ("RBL") of c.$200m through the Green Dragon Gas producing assets. Active discussions to conclude such an arrangement with a bank is underway; or

b. Sale of sufficient equity for cash in wholly owned Green Dragon Gas so as to pay off creditors in full and have additional liquidity. Heads of Agreement with interested party is expected in the near term. A recent report, conducted for the RBL in October, valued the producing Green Dragon Gas, GCZ and GSS blocks at $485millon (1P) and $1.3 billion (2P).

2. Following above execution, dividend Green Dragon Gas to the Shareholders.

3. Continue as an Exploration and Appraisal company specializing in Coal Bed Methane.

Mr. Randeep S. Grewal, Chairman of G3 Exploration commented, "Over the past two years, we have worked cooperatively, and constructively, with our Secured Creditors on each of our initiatives to repay the debt due and look forward to doing so with the JPL.

We strongly encourage the appointment of JPLs so as to expedite a re-structuring of the company for the benefit of all stakeholders, which would enable the company to continue to deploy its technical expertise in the development of complex CBM reservoirs globally and continue as a going concern."

No date and no dividend agreed as yet...if there was the share price would be significantly higher. But if you look the last RNS it's quite strongly implied. Also several of the previous RNS's suggest returning cash to shareholders via a dividend, so that's the gamble I'm taking.

Well done Rocket and good luck. Personally I’m remaining firm in the hope the a dividend is forthcoming. I’m hoping they choose to return circa $100m to shareholders via a cash for equity raise which equates to about 44p a share by my reckoning.

Danube Petroleum/Reabold Resources I'd imagine. Should hopefully see this close much higher.