Member Info for Mike12345

Don't suppose you could do that again could ya ;)

max to buy is £512 at 87p, things seem to be looking up!

Potential i see here is
- backed by big boy investors - blackrock, fidelity, Cannacord Genuity
- low shares in issue meaning when there is good news its really good ( of course works both ways due to supply and demand)
- Low market capital, so larger scope for share price movement ( unless large equity raise)
- Proven track record team selling a £600m business although it was a hostile takeover, who knows where share price could have gone.
- Cash in bank equivalent to 5 years of cash burn at 125k pm, of course some will be used for initial investment.
- 60% of stock held by institutions and management
- Long term incentive plan announced - must get 26% annual return by november 2022 to get to issue share to their own benefit, this is 100% increase from IPO.

Just got a feeling we’ll hear something tmo with regards to the potential transaction, lets pray

What’s the other RNS potentially about? Am new to this share

Appreciate tour reply x66rjp, It’s very confusing as on the one hand the insurance part is doing well and on the other it’s being impaired? Weird

Does anyone know why there is a such a large good will impairment and what it is for? Profits for the business would be in excess of £100m if it wasn't for these non cash losses.

Significant difference here between sound, Coro and all the other poor performing shares that had James Parsons name stamped on is that fact that we have production. Our company is valued at a measly £7m, when our turnover at £36m at $45 per barrel. This is an investment I am extremely excited about and cannot wait for further updates.

1971 boepd for 1st of APRIL 2020 to 17th MARCH 2020, makes complete sense, well done Partridge on your huge and well thought out post.

How-is-the-projecy-being-funded?

What actually happens if it does not happen? do shares get suspended? I'm not sure how it works as relatively new to this!

How much do we need approved? What happens if it doesn’t get approved?

Don't think Partridge will be back after Pawnsacrifice's posts

This dude only has negative comments unfortunately, he's really trying to get in lower. Partridge its not too late for you to buy a couple shares, maybe stop being such a keyboard warrior and just click buy with your mouse!

There is a risk of a placing true, we do not know current cash levels and if it is is needed drastically. Currently we are cash flow positive, oil prices now $45 ( given demand), lower VAT by 50%, operational costs reduced by 50%. I think the BOD would not want a placing as to not decimate the perception of the share even more, least not soon. With the market cap of this firm being so low, the incentive is for the BOD to smash this out, as its one that could easily double triple quickly. If I were BOD you'd push this hugely as the value is clearly in the shares.

Why would the bond holders lose money? Interest payments are deferred? No loss of money here

This is really moving, I think this shows confidence for Friday for sure? We need £2.4m to approve interest deferral, surely fees of administrators and time would cost at least half of that, I think it’s good to go for Friday

You sound worried about a placing, fair enough. I personally don’t think there will be one soon and definitely not priced at these levels. If we are cash flow positive and costs have reduced by 50% and now all oil will be purchased at $45 ( if enough demand), we should be fine.

What happens if the debt defaults Friday? Hopefully it won’t do that but if it does? Administration?

Just topped up £2k, bid and ask are the same on a live quote!