Member Info for nlmbidc

Good luck to those that sold at the top.

CP is working on several Asia opportunities as well as progressing Tunisia.

I anticipate a stream of news once it starts. Probably in the next few weeks.

Half a billion traded in less than three hours. About the same as the whole of yesterday.

Fast moving stock.

13% traded in the first 90 minutes today.

At this rate they'll turnover 50% in a day. Not quite unheard of but very rare.

Wow!

Relishing or relisting......

There is often a big change in value following a suspension. Sometimes good and sometimes bad.

I think in this case it will be good, but it largely depends where we stand after the reverse takeover. If we have funding in place it will help considerably.

Also there will be a CPR on the two prospects that Sundagas have obtained.

The better the CPR the better th SP on relishing.

Let's all hope for a stonking CPR. I think it could be. Both prospects seem to be highly valuable from what we know so far.

Yes. We need an EGM for shareholder approvals.

I don't think there will be any difficulty raising funds when we become Sundagas plc. The Sundagas guys have a lot of previous experience raising funds in the city. Also the two prospect will be supported by a CPR.

We won't realist until late March as I understand it.

Before that we need a 3 week minimum notice for the EGM when we all get to approve or otherwise the resolutions required for the reverse takeover and fund raising etc.

It will probably 2 weeks after the EGM when we realist - all subject to shareholder approval.

We are waiting for a CPR on the Sundagas assets.

Could be a few weeks yet.

When that comes we'll have a better idea of the value of the new company.

No way this will be done and dusted in January unless the EGM is announced before Xmas.

Need 3 weeks notice for EGM alone.

The details of any losses will be clear from the yearly (audited) accounts.

As far as i know the 6 monthly interim accounts are not audited.

There is no feed that I'm aware of......

There is feed that I am aware of.

I believe they will issue an RNS once the terms of the sale are outlined. There will also be an EGM called when shareholders will be able to approve the terms of the takeover.

Whether that is announced this year or in Q1 next year remains to be seen.

I dont think we'll get to hear until a formal announcement.

I do expect a lot more activity to come from SE Asia, but i wouldn't like to try and guess where.

What does transformational mean though?
Issuing 200% more shares and changing the company from Baron Oil plc to SundaGas Plc. Now that is a large transformation.

However, because of the size of the SundaGas prospects that could be transformation as well.

The SundaGas prospects along with funding will make this much bigger than the 3X of shares issued.

And the chudith and Telen blocks that sundagas have been awarded are very big compared to what BOIL already have.

Buy or sell 100,000,000 still needs to be reported.

Markdods.

Maybe not that simple. I suspect Colter could be sold off to fund other projects for example.

When the SundaGas guys (Dr Andy Butler and Paul Ebdale) were at Mitra Energy they had a London based chairman that was managing the city based financing. Its possible that a similar setup will be used temporarily or permanently. In any case the SundaGas prospects being brought to the party far outweigh anything BOIL bring.
We will be in a marriage of convenience for all parties.