Member Info for Medjed

I pray to God you're right. a $15m takeover would do me (at 2.6b shares) I'd just about break even and escape this piece of $hit.

That's yet to be seen. That was an out of the air 1%. And its not as simple as that. If someone buys it out for even just $15m if there is more that 1% of oil then the buyer can take on the debt and still be profitable.

I'm not planning on hanging around anyway the company is very dodgy with the $hitty no floor bond deal.

Thanks! that would be $110 million. For 1%.

I'd take that :)

So just on paper, even if only 1% of 1b barrels was extractable, that's 10mb x $70 = $0.7b

Less extraction expenses of course.

Now 17m volume!

the naked prciks must be fighting hard to keep it down. Be interesting to look at Fintel tomorrow to see if they naked shorted 50% of 17 million shares.

When will they break?

Where are you watching XOP up 300% please?

Google and Marketwatch charts are frozen at 0.005 CAD for days. No movement

Sorry I mean 3.7% each way, so 7.4%

The spread is only around 4% on IG and similar on Barclays. Change your broker, joker ;)

Not true I can buy 2m no problem

Maybe the placing is going through at 0.15p after all?

Hmm I think you’ll find at 2p and 2.6 billion shares the value would be £52m. That would be very nice but I don’t see that happening soon.

The earlier poster predicting a buyout at 0.5p seems more likely

Are Anavio and any other big buyers going to have to be very careful to avoid owning 30%+ shares in the company?

To avoid triggering the FTSE "Rule 9 offer"?

I am sure no one would want to be forced to make an offer at 6p+ per share in the current situation. That would be around £160 million!

If AM really believed in the company he should have done that in December when SL first let them know they want the money back. That would have had the opposite effect on the SP as it shows confidence. Instead we have the present $hitshow.

George Roach did that for Prem in the summer and the share price recovered nicely.

Has it been suspended in Canada for more than 3 days?

Just curios as I see XOP has stayed flat at 0.005 CAD for days. Looks like its not trading.

Small, no idea what you're on about. You lost it lol.

Small, sorry don't get it lol.

What's the punishment for the BOD, for lying in a legal document (RNS)

What's the punishment for lying in an RNS?

If they go ahead with placing at 0.15 then won't the SP rebound to that level at least briefly?

Also don’t they (Anavio, other bond holders, etc) have to be very careful to avoid owning 20% or more shares in the company?

Otherwise thew would have to make an offer for the company at presumably much higher SP than currently?

Take this hand in hand with having to dump the excess shares above 20% onto someone.

Seems they aren’t completely free to dilute infinitely, they have to do their dirty work within those constrictions.

Ouch! 16b more is a lot. But I agree who the hell would buy those shares unless there is a great conspiracy to pass those on to an II to gain a big share of the company, then reveal the real value and MCAP.