Member Info for Mirasol

Adrain

"so they needed to be able to issue new shares should they need them to see off any hostile takeover"

Explain to me how that works? Anyone buying doesn't CARE about the SP - they only care about the final price. issuing more confetti doesn't strengthen anyone - it just increases the amount of votes

"Don't see them pausing development in those circumstances either - the closer Angus arrives to first gas, the stronger its bargaining position"

Agree with you Ocelot - the closer they are to being able to deliver on time and on budget the less risk for a buyer and therefore a higher price

Adrain -

Firstly they think they need more cash - otherwise why rush the GM when they could have waited for the AGM in April?

They said "This will give the Directors flexibility to issue and allot further Ordinary Shares in the future (whether to maintain debt covenants and meet all obligations under the Saltfleetby Development Loan Facility or more generally) "

On Contingency they said "Progress continues apace at Saltfleetby and whilst some suppliers have advised of delays of the order of a few weeks and the Board anticipates a further increase in the contingency for the project (up to 10% of budget)

Anyone who signs the CA or NDA will get a look at the books on the Company and/or SFB so there is no point in holding off if a raise is needed.

Remember any buyer isn't worried about the ANGS share price - the only risk is that there's a leak but as everyone knows they're going to have to raise some more cash anyway (otherwise why the sudden need for the authority to issue more shares?) it's not a major factor.

I suspect that a possible takeover, a raise AND SFB construction all at the same time is straining the team to the absolute limit tho'.

"And they are Tories ,

Tory councils, voters, MP's and ministers have all come out against oil & gas in various places - people like the Country Land Owners Assoc and other High Tory groups are some of the biggest obstacles to onshore O&G

"Its in Lincolnshire , small hamlets nothing more"

but they still vote and they vote against...........

"2nd Oct 2020
UKOG intends to take an active technical role in the Licence's 5-well oil appraisal and step-out exploration drilling and 2D seismic programme, which, Covid and weather permitting, is expected to commence this year."

yeah but they realised they needed new seismic when they suspended the well in late July 2021.......

"EGD , RBD & UJO all down , something common here , no faith or trust"

More likely no real assets that can be turned into cash if the market slides on a Russian invasion. Hi-tech stocks also taking a battering

Small oilers are really day trading stocks and if no-one sees any short term gain no one will buy so they'll keep sliding

"They did well to achieve this before the snows arrived:"

They've had over 7 months to do it Ocelot

"But it wouldn't seem sensible for an out-going president to sign off any 'deal/award' to RKH before leaving office?"

Don't be silly - any politician will leave unpleasant jobs like that to their successors - and that could be months away given normal Italian politics. Imagine what the Daily Mail would say if BoJo signed off a hundred million to a small Italian oil company just before he moved out of No.10!!

"the decline in the SP is solely due to lack of credibility of the BOD. What a bunch of cu***. "

James - have you been on the Road to Damascus or something? You've been one of the biggest supporters of the BoD on here

for once in my life I agree with HH1 - Winnifrith is totally untrustworthy

"this HAS to get better. we are debt free, money in the bank, money coming in every month, this HAS to only get better.2

I agree - market sentiment it makes little sense - especially if you compare it with ANGS - who have offers to buy coming in and yet have no gas production and a big hedge contract looming over them. A lot of people clearly have some issues with UJO from an investing point of view otherwise it would be rising on Wressle news. As this is AIM its probably something we, as LTH's , will only find out about in the far future.

"Howey, the hedge. That is still a separate contract and what if the prospective buyer doesn’t want to take it on? What then?"

Well ANGS can't sell SFB or the Company without someone taking on the hedge - or buying their way out . I'm sure that will be the major issue for discussion in any takeover and is likely to take some time to sort out.

Probable - usual Monday morning collection

At 90 bopd they need about 3 a week

Warwick? A real minnow.. ............

And the Italians will argue that they would have put taxes up if the oil price went up

"Mirasol has never had anything positive to say about any small cap oiler for well over 4 years that I have been on these boards, unless it is a backhanded compliment with some negative slant thrown in for good measure.
That covers UKOG, ANGS and UJO for the whole period."

have you seen the SP performance of those stocks over 4 years ?

UKOG +8.9p down to 0.1p with massive dilution
UJO 0.45 down to 0.2 with a 200 to 1 reissue in as well
ANGS 35.75 down to 1.1 with large dilution

Do you think there's a reason for being negative?

I'm fairly positive about EDR ..................

"there will be a follow up RNS with share purchases from the other directors..."

:)))))))))))))))))))))))))))))

"you and your comrades never have a good word to say about any progress \"

progress is sadly lacking Mt Baits - that is the problem - that is why this share isn't even valued at the price of a ton of Sound paper........