Member Info for Megla

Fingers crossed ??

Not sure about the actual mechanics, but basically yes they can. Other companies have done the same thing when the debt is distressed.

Unlikely to ever go bust, but shareholders could get wiped out in a debt for equity swap. Again, that shouldn’t happen within the next 12 months, but after that who knows.

I hoping you’re going to invite me round so you can explain to me all about balance sheet NAV

Good to know, enjoy numbnuts.

Not sure you’ll be able to see the sign with those rose tinted glasses.

I never said they were going bust numbnuts, but there are several scenarios where it could. Ignoring the risk is up to the Individual.

You’re an idiot LB28

I suppose you didn’t read the going-concern statement yesterday?

Or it goes bust, definitely one or the other.

Utterly pathetic

There’s going to be a lot of unhappy people if fair value is only 20p-25p

11p to zero would still be 100%

BTFATH1, I think you'll find the RBL has to re-determined every 6 months, maybe you should do some research on the company you're invested in.

Hopefully that isn't the debt holders

Good post Tony, interested to know what you think the markets have underestimated in terms of what they've been doing?

Wonder why the board aren't falling over themselves to buy the stock at these prices?

Lol, sorry. Happy Friday :-)

Not unsurprising really, update was terrible for all stakeholders. They seemed to be excited about hitting their own dreadful guidance, a number that only delivers $150m of FCF even at $60 oil. G&A costs cut but still tens of millions too high, asset sales sound more like an ambition than anything else. Utterly pointless.

They sounded confident on the call for a limited reduction. Get that out of the way then they do have some breathing space for while.