Member Info for MickR

What SP are people expecting if the FCA approval comes through?

Once the overhang from the placing clears, I expect a sharp move to 10p and over. Expecting 15p to 20p in a few weeks IMO.

DYOR

GreenWolf,

There are major shareholders who have voted in favour of the deal and I would not expect them to walk away without anything as they have influence on the board. The board is required to set out all scenarios in the RNS which they have done. In my view, the floor is 0.65p return, could be higher if there is more money in the pot which I suspect there could be.

Even after cancellation on 16 June assuming the vote goes through (75% votes required) shareholders holding will still receive cash as part of the distribution post cancellation.

We could see a spike to 0.80p in my view between now and 16 June. This is purely a punt and not an investment :-)

DYOR

This looks like a good punt to me down here as the shares will trade until 16 June 2023 which is the proposed cancellation date:

"Assuming the passing of the Cancellation Resolution, which will be conditional upon the passing of the Proposed Sale Resolution and Completion, it is expected that the Cancellation will take place on 16 June 2023."

The floor price is 0.65p in my view, if there is more in the pot or if another bidder emerges, the SP could hit 1p easy IMO.

DYOR

Managed to accumulate 1m shares down here...let's blast past 2-3p once the JV is confirmed and the ii conversions are out of the way in June.

DYOR

The SP is consolidating very well and looking primed to smash past 2p soon....Once 2p falls, 3p should come quick IMO.

DYOR

Great time to buy the dip! Last week's news was a company changer and I see a move up to 3p shortly as the free float is very small and it is difficult to buy any decent amount down here.

DYOR

I would rather see EHGOS out down here so that we are free to move up without brakes when news lands.

DYOR

0.0040p paid? News must be incoming IMO?

Ask moved up to 0.035p now.

Bring on the positive newsflow. Waiting patiently for 0.010p

DYOR

No live quote to buy even 500 quid at 0.030p!

Hi Neil,

Hope you are well. Yes, a trade to be had here.

Good luck

Hello 0.60's like I said.

Could drop more?

DYOR

There will be huge dumping by shareholders later, am watching for the -0.60's for a trade.

DYOR

They are also warning shareholders that there may be no return to shareholders:

" it is possible that Shareholders would not receive the amount anticipated or any return at all."

From today's RNS:

"It is currently anticipated that the Net Cash Proceeds will be approximately £2 million. The exact amount however of the Net Cash Proceeds available to be returned to Shareholders in a members' voluntary liquidation will be dependent on a number of factors, including:

· the amount of cash in hand and at bank at Completion which depends, amongst other things, on trading performance in the period up to Completion and whether such trading performance could be negatively impacted, including as a result of any disruption in the Company resulting from this Announcement;

· in respect of the Asset Purchase Agreement, the ability to recover from the Purchaser under the assumption of liabilities and indemnification provision; and

· the timing of the members' voluntary liquidation and the process to its completion, including whether any presently unknown creditors seek to make claims, which may draw out the time and cost of the process even if any amounts claimed are recovered from the Purchaser under the Asset Purchase Agreement.

Accordingly, as a result of these factors, the amount of the Net Cash Proceeds to be returned to Shareholders could be more or less than is currently anticipated and, in the event that the gross amount of cash retained at Completion is less than £5.5m or unanticipated liabilities arise which cannot be recovered, it is possible that Shareholders would not receive the amount anticipated or any return at all."

Could we see 0.50p today?

I wonder if the SP will go below the placing price as it usually always does?

Earl had ramped this to the sky, wonder if he was part of the bucket shop trying to flip the shares at a 100% profit?

DYOR

Let's see if Sanderson can pull off what GR did at PREM-20 bagger at PREM after GR took years of abuse.

If Sanderson can produce oil this time around, he may be finally vindicated!

DYOR

Hold tight folks....level 2 looking interesting.

What price if a Turkey gusher confirmed?