Member Info for ocelot

The £1.4m loan note achieved a great deal. Inter alia, it:
1/ reduced the outstanding Riverfort loan by £250k to £350k;
2/ assuming repayment in full in cash of Riverfort's remaining loan, increased Angus's cash resources by a net £800k;
3/ offered the potential for an additional £150k through the exercise of warrants (although the possibility of obtaining an additional £500k from Riverfort under the original terms was cancelled);
4/ lengthened the final maturity date from 24/10/20 (Riverfort) to 20/04/22 (Knowe Properties);
5/ strengthened Angus's hand ahead of the WSCC planning committee meeting re Balcombe.

Following the investment facility RNS of 24/02 with Bergen Asset Management.

Posts removed, but it needed your post to confirm it!

?

It isn't, not according to the sites I'm looking at, anyway.

75m new share issue.

... Oil ministers from the OPEC+ coalition held an unscheduled conference call on Tuesday to discuss the rout, though a closing statement signaled they didn’t settle on any new policy measures...

https://www.bloomberg.com/news/articles/2020-04-21/oil-edges-up-after-historic-meltdown-pushes-june-to-near-10?srnd=premium-europe&sref=Em01M8Hr

Genel went into this crisis with a very healthy balance sheet and lots of cash.

It'll be interesting to see if they can pick up any distressed assets which meet their criteria.

... The Texas Railroad Commission opted to put off a decision on whether to impose oil-production quotas. The state’s main energy regulator said it would not take a final vote on curtailing output during a closely-watched Tuesday meeting...

Saudi Arabia said it is ready to join OPEC+ for more measures to stabilize the oil market. Russia said that it is monitoring prices closely, but hasn’t decided on Venezuela’s call for an OPEC+ committee meeting...

https://www.bloomberg.com/news/articles/2020-04-21/oil-meltdown-spreads-beyond-expiring-contracts-as-wti-slumps-42?sref=Em01M8Hr

lse is showing the rise on the mid-price, I expect the 20% rise reflects the most recent trade price.

Do wonder if we don't have quite a big buyer, who is splitting the buys across a mix of different-sized trades.

Don't know, but, on the other side, it's the way shorters frequently work, visibly attacking the bid, to demoralise holders.

President Donald Trump said his administration is working on a plan to make money available to the oil industry to prevent the loss of jobs after prices plunged below zero...

https://www.bloomberg.com/news/articles/2020-04-21/trump-pledges-funds-for-oil-industry-after-prices-plunge?srnd=premium&sref=Em01M8Hr

attacking the offer price.

Is there a sophisticated investor trying to get the price to rise?

YL,

Fair enough, but that does not make you a long-term holder of Angus, because you are not a holder at all.

YL,

As ever, you are free to express your view.

But I fail to see how you can say something like "LTH's are not looking for "price action ..." when you are not an LTH yourself.

YL,

You are not an LTH, you sold all of your holding.

Why not let LTHs speak for themselves?

How odd!

The board suddenly left today and returned to yesterday evening.

The oil glut and the shortage of storage is a worldwide, not just an American, problem, so it is unlikely WTI alone will be affected.

The oil patch looks a bit bedraggled this morning: Brent (oanda) $23.27

Re Riverfort:

The Loan ... is repayable 24 months after drawdown.

Drawdown was 11/09/19.