Member Info for miker444

Hi Boom, i3 and Cora are not connected in any way whatsoever, we will get shares in both and you can sell one and keep the other or whatever permutation that suits you. atb

Thanks nomadic, just curious as to how the article valued Cora at £13.35m. atb

Thanks Boom mate, should have known better, excellent research. atb

Hi Boom mate, is it £13.35m or £1.35m only the £130,000 raised represents 9% or so of £1.35m leaving 91% or have I got this wrong ( probably have) and that is not what you mean by the completion of a concurrent cash call, I would prefer it to be £13.35m. atb

other than Barclay account holders showing 0.11p, I have been checking all day with my account HSDL (Halifax) and it is still showing 0.06 but if others not belonging to Barclays are showing 0.11 then that would be significant as it would be a definite action and not just a glitch with all those in the same nominee account i.e in this case Barclays. Just a thought. atb

As much as I would love the MarCap to be worth that I think it may well be a case of the decimal point being in the wrong place (by 2 digits unfortunately). But who knows "one day rodders"! atb

I am still showing 0.06 with Halifax, but 0.11 is in line with my previous posts and with a 50% 'discount' also in line with my 0.15 re-list post a few days ago. Not sure though if this could be put forward to financial bodies before an RNS. atb

Ecuagold, the values of I3 are actually in line with BP from a pro rata ratio. If you look at turnover value for both (not profit) with fag packet calcs are that BP is valued MarCap at approx. £60 billion and they produce 800,000 bopd. So 800,000 bopd x $50 per barrel x 365 days = £16bn therefore 3 - 4 x P/E ratio to get to £60 Bn With i3 if you have 6,000 bopd ( average N Sea well produces between 6 - 10,000 bopd) x $50 x 365 days you get $110m per year. If you then x 3 - 4 P/E ratio you get your $400m or so MarCap. All approx. but in line with BP. atb

nomadic, correct it was just my way of wording that when i3 multibag from $45m to $400m as we hold i3 we are part of that multibag. atb

Hi jonbud, no problem mate. The thing which is quite unique for those holding shares is that we can predict with some accuracy what our sp will be due to i3's MarCap and our fixed % ownership to that, up or down in tandem with them. Most other boards often say "oh our sp should be higher " or "mm's holding it back" etc but whatever trend i3 does we will follow. atb

jonbudzynski, I agree things must be close, certainly for an update with definite detail or a re-list date. Regarding i3 the RNS of Jan 10th states " Further information with respect to the asset, development plan, organisational additions and the IPO will be provided as soon as available for disclosure within Q1 2017. Q1 is between Jan 01st and March 31st so not long for that, 5 weeks at the very latest. Regarding Gwik RTO of Cora Gold the RNS dated 6th Feb states: " The parties have agreed to work expeditiously (and yes I had to look that up!) to complete these conditions with a view to the enlarged share capital of Glenwick admitting to trading on AIM Q2 2017. So Q2 is April 01st - June 30th and that is for trading back on AIM so again not too long to wait. atb

If you read the RNS dated 15 Sept and it si Jaap Poll comment section at the bottom it gives a lot of detail. I am talking about i3 mate. The Gwik RTO of Cora Gold will be a slow burn sp wise but confident I can get every penny back I invested in time with that so will leave it alone which then means we have i3 which is the reason why I agree with mjng's term of double whammy. Win win. atb

Hi mjng, absolutely correct and all good as you say. Along with most genuine LTH's I see i3 as the the big prize and the Cora Gold rto as a bonus which will take a fair bit of time to get sp back to break even due to dilution needed to broker the deal, but still much better than a kick in the proverbials. In trying to work out the sp for i3 I think re-list of 0.1 with 50%'discounted uplift' we may see 0.15 which stabilises at 0.2 within a few days / 1 week or so with the onset of the $45m fund raising with the bigger institutions buying in. From there if as the RNS states once the Liberator field well is producing the MarCap will value the Company at $400m (at just $50 a barrel) then sp will multi bag 8 x (ish) due to $45m becoming $400m. As we own a fixed % of i3 we have to move up with i3 MarCap value. So even if I assume a more conservative approach and say a 5 x multi bag and not 8 x we will still be around the 1p mark around July / Summertime. That's only 4/5 months away. Just my tuppence worth and all depending on the Liberator well doing what the experts think it will do. Oil now firmly stuck $5 or more a barrel higher also than the original RNS calculations which should give a solid base / upward pressure to sp. atb

Hi Pompey mate, rto can still go ahead even if suspension goes the full 6 months, which I suspect it will, because trading will as people rightly say be cancelled on AIM but the 4th paragraph on last RNS states: "Cancellation will not impact on the Proposed Transaction and the Board will seek a new admission to trading of the enlarged share capital of the Company as part of the Proposed Transaction". I think Amanda will see it through and she will be well versed in rto's and trading / suspension regs per se. atb

Good post show.me. To raise the $45m or so it will be the bigger institutuions that can stump up that amount of money and also even if some PI's sell up, which they will and no problem with that, the volume or ownership of PI's shares compared to the insitutions / banks etc will be a tiny fraction % wise and I really do not think that will have a detrimental effect on the sp. I will be happy with 0.2 in the first few weeks because once the well is producing, and we believe it will be Q3, i3 MarCap will go from $50m to $400m+, an increase of 8 fold and so as we are linked to i3 sp we should see 'our' sp go up by same multiple. Even a conservative estimate will give us 1p or thereabouts if and when this happens, it can't not if we have a fixed % ownership to i3. Eitherway an excellent situation for existing shareholders and a good opportunity for newbies who will be happy to buy in at 0.15 / 0.2 ish to get a multiple of that 6 months later. atb

mjng totally agree with gra1969 excellent post and hit the nail on the head, for me at least. i3 is where our money went and hopefully a N Sea well producing anything from 6,000 - 10,000 bopd ( accepted average approx. 8,000 bopd from North Sea wells). I personally thought rto would not happen so this is as you say a bonus / icing on the cake. We could end up with getting all our initial investment outlay from Gwik / Cora and still have i3 tor investment growth or vice versa depending individuals circumstances. Excellent post. atb

Cola shares probably have a bit more fizz than Kola :¬)

Gotabesirius, totally agree and of course Amanda Van Dyke is both a Director of Gwik and Paternoster so she will want this to succeed from a personal status to her peers as well as financial. atb

Don't know mate, I don't hold my Gwik shares in ISA so would only be guessing as to that scenario so cannot offer knowledgeable comments I am afraid. atb

Hi Boom welcome back mate, one of the original LTH's haven't seen you on here for a while. Will be worth the wait mate for sure. Quite simply double whammy, basically getting an investment and your money back in another (if you want it!) Who says you cant have your cake and eat it lol atb