Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
do you read your posts?
'This looks like a pump with a minimum of warrants being cashed and these are mainly by the directors'
'Also out of the warrants exercised so far only 100,000 (£12K's worth) have been owned by the management. If they are not prepared to lead by example then why should anyone follow.'
ART, i've checked with the EME (Tom) and actually we are both wrong. There is a cost recovery pool and EME would recover costs from first production at an accelerated rate, once costs are recovered then production would revert back to 51 / 49 split.
so its not correct to state it cost them nothing.
'The agreement I believe is that EME pay for all the costs up to the point of a commercial discovery, at which point CNOOC have a back-in right for a 51% holding which will cost them nothing'
my understanding was that CNOOC would pay 51% of cost to date in the event they exercised their back in option.
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-bulletin-board-heroes-october-12-889eee2/
great volume and movement, feels like this needs a little push through 9p (presume resistance level?)
either way looking good and reading the forums looks like more warrant conversion RNS announcements are to land, should encourage others to follow suit.
https://www.empyreanenergy.com/wp-content/uploads/2021/09/Empyrean-Energy-Plc-AGM-Presentation.pdf
no one can dispute the potential here, huge! but how will this be funded remains a weight on the SP.
whilst a placing remains an option i guess we will languish at lower levels. what we need to see is further developments on Mako gas (out of our hands, Conrad) or perhaps farm out news on China,
if we can fund China without dilution this should pop off big time.
not participating in Borba is the sensible thing to do, plus what exactly would we fund our share with,
TK needs to focus on pushing through a deal on Mako BUT the recent comments that Conrad were leading this as appose to EME may have put off some investors thinking a sale isn't coming. i don't believe TK would leave to Conrad if that wasn't already in motion or happening given Indo is the key to unlocking China potential.
time will tell i guess, in the meantime SP looks dreadful without any updates.