Member Info for MTSparky

Spot on Jon and that is my point. HALO must either have guaranteed funding from Engie or have another asset lined up with sufficient FCF to fund Pegasus development. Without it this deal is suicide for TE. No way Tullow 101 funds Pegasus with Dutch gas prices crashing.

Yes juicy politics. I like it. I would tend to think the UK Gov might blink first.

That is an interesting article. I like the bit about sending the gas to the Netherlands to get around the regulation issue.

I don’t care how big your oil is, you don’t get rid of a “huge liability” by swapping it for a 20% of a company like HALO as we know it? That is nonsense. Frying pan and fire spring to mind.

Either TE are being advised by Chris Grayling or there is far more to HALO than what we know about (yet).

Big announcement soon....;0))))

If I have an asset worth £45m, that requires £60m to develop it, I wouldn't sell it for a 20% stake in a company that doesn't have a pot to p1ss in and that has been de-listed from the market since April 2017. Maybe it's just me...lol

Well surely someone is covering them or TE wouldn't have sold. This deal is a massive risk for TE.

Further details of the Acquisition, Operational Plans and the Corporate Calendar will be provided early
in the New Year.

mmmmm....why the delay? Big announcement soon me thinks.

Flundra - Interesting suggestion from you on that MTSparky, but it would be a hell of a risk for TE without a binding agreement on another deal.

This is what is so intriguing. This deal is so risky for TEOL that there must be another acquisition in advanced stages to make TEOL do the deal. If HALO go into administration TEOL get nothing £0. You don't just give/gamble away £45m based on what we know. You just wouldn't, I wouldn't.

https://www.bbc.co.uk/news/business-47376169

UK's richest man in £1bn oil and chemicals investment

Well based purely on the fact that the TEOL deal doesn't appear to make sense at this time (i.e. swapping £45m for 20% of HALO). I am going to stick my neck out and say there is a bigger fish HALO are about to land. That TEOL know about but we don't.

Re-list won't happen for months but when it does Flundra's £7/sh could be true. You're welcome...;o)) (queue re-list next week at £1.50)

Hague and London Oil. ticker: HNL

c$4/bl, what a bargain that is.

But why did TE take "only" a 19.25% shareholding for £46m of assets eh? Answer me that!!.............that is a very intriguing question. I wonder if HALO have another acquisition lined up which would make that deal more realistic. TE must be confident that 19.25% will be equal or greater than £45m at some point in the not too distant future or Cochran had them over a barrel.

Well before this deal the broker valuation was £18/sh. 2P reserves 70m at $8 is £400m. Which ever metric you use RRE is very low valued by the market. New market value could be north of £25/sh. If you wanted to buy RRE I guess you would have to pay alot more than that.

....IMO the sp will go crazy on re-list. Can't wait for revised broker notes. I think a dividend will happen at some point.

For me the moral of the story is always DYOR and have faith in the fundamentals. RRE was so undervalued it put investors off as they believed there was something wrong that they couldn't see. What ever happens on HALO re-list if the BoD are as ambitious as RRE's (which I think they are) just get in early and hold on for the ride. By 2021 RRE production will be at least 30,000 boepd with Arran coming on-line. Still lots of money to be made with HALO and RRE IMO.

Flundra £7/sh...OMFG....;o))

Anyone on here take a piece of RRE? I hope HALO can emulate RRE.

RockRose, the independent oil and gas company, is pleased to announce that it has signed a share purchase agreement ("SPA") to acquire 100% of Marathon Oil U.K. LLC ("MOUK") and 100% of Marathon Oil West of Shetland Limited ("MOWOS") from subsidiaries of Marathon Oil Corporation ("Marathon Oil") (the "Acquisition"). The consideration payable by RockRose to Marathon Oil in connection with the Acquisition is circa $140 million (subject to customary adjustments), which RockRose currently anticipates will be funded through existing resources and facilities.

This gives the Company a net 2P position on completion in excess of 70million and 2P+2C of 86 million boe. Anticipated production for the assets being acquired is circa 13,000 boepd in 2019, taking RockRose's total net anticipated production for 2019 to circa 24,000 boepd.

Can’t wait Jon. Hopefully this is just the beginning of the companies expansion and growth plan.

Well there is no point having cash sitting idle in the bank. RRE have no debt so they could look to finance the purchase and this could be a great investment for RRE. They could leverage against current assets but several hundred million dollars may be a stretch too far.

At $8 per barrel plus cash gives about £24/sh. That cash pile is constantly growing too. Production set to increase by 7000 boepd or more. Low free float of shares. May be a dividend payment, 50p / sh would be amazing. RRE investment is the opportunity of a lifetime!!

Could be someone like Sector Fund Ltd buying in. Not much stock in free float. Awesome!!