Member Info for pablo2

It is going to be listed on Nasdaq when the 'liquidity event' takes place - however, I would imagine with all the difficulties trading it on the Nasdaq for UK holders, the event will probably mean a payout rather than an issue of Nasdaq shares. This 'detail' has not yet been finalised, nor has the 'circular' that will precede such a 'liquidity event'. ----------- Any thoughts on other issues I raised?

This guy's seems to be our finance guy for the last few years : Rashida Adenwala - Director Finance & Investor Relations Can't find anything on past RNS's about the FD resigning or getting a new one. ----------------------------- 2 trades today on Aim for about £1300 in total, yet another drop in the sp. DQE India - Down 21% last rolling 12 months DQE Aim - Down 75% Just think the complicated Bond issue, the talk of cancelling Aim listing, the lack of liquidity and interest, these factors have overdone the drop. Could well be near the bottom and possibly be worth averaging down in the hope that this current Half-year brings better fortunes (receivables, liquidity event(leaving Aim)).

could you please have a look at my thoughts on DQE - thanks.

Been looking again at the question of 15% or 25% IRR. This sentence sums it up I think : "The Bondholders can also redeem the Bonds at a price that would yield a 25 per cent per annum IRR (the "Increased Redemption Price") on the occurrence of a change of control event of either DQE or DQE Mauritius or if a Qualified Liquidity Event (as defined below) has not taken place within three years of the Closing Date." I take this to mean, they can only get 25% if DQE or DQE Mauritius is taken over or goes belly up, OR the liquidity event doesn't take place in the 3-year window. DQE is obviously pushing for this 'liquidity event' and move to Nasdaq from Aim so it should occur and prevent a 25% IRR. -------------------------------- Meanwhile, the sp still plummets, yet from 14th Nov results : "The Company's discussions with an investor for financing the development and production of its properties are advanced and we are in the process of completing the documentation. However, working capital remains under pressure in the meantime. The receivables collection has continued to be slow, but now the Company has definitive commitments from the key parties for payments and we expect a significant reduction in the debtors by March 2015." They managed the first part of this with the $50m Bond issue and I look forward to them fulfilling part 2 with making in-roads into the 'receivables' by March. Year-end is March 31st but the Results last year didn't come out until June 2nd, so there may be a considerable wait for this news. ------------------------------- There are a lot of conditions on this Bond Issue and, because it is so large, these issues are warned as possibly terminal. On the other hand a lot of what is in the Dec 9th Bond issue documentation is probably quite standard and perhaps not as worrying as it might at first appear. Tapaas is obviously very pleased that we now have the cash to pursue many different productions simultaneously - I have a reasonably good feeling about all this. Not sure when the 'liquidity event' will take place - within 3 years?! I am thinking this looks like shareholders will either get a payout then or be offered Nasdaq shares, though this doesn't seem yet to be finalised. ------------------------ Basically trying to work out whether it's worth averaging down???

is a chinaman. Anyway, enough of this banter, I must save my 6,000th post for something important.

Yes, I consider that very naughty of them. Henderson and Oryx were buying last week. Holdings besides, this company is not exactly one to blow it's own trumpet or any trumpet for that matter with a fanfare of news. If true to form, the next RNS will be a 'Notice of Results' early March with the Annual Results 2 weeks later. It would be nice to hear a few trumpets at least then. Presume everything is to 'market expectations' which unfortunately means going nowhere as usual. Here's hoping we will have some big contracts soon over the pond.

I see you've even managed to talk it up even as we speak - brilliant.

Well exactly, you've let me down on my original investment. Given it's a load of Wind, it probably suits you(lol) but unfortunately funds prohibit further involvement.

Is there anyone I don't know on here?! Anyway, I've been neglecting my investments - again. I've just remembered through my wonderful investment in PIRI (why I've invested in an Arsenal player is beyond me) I've got an interest in RAME. It would be very helpful if you could possibly see to drag it upwards by it's shoestrings for me - probably mean a lot more to you, so not only am I depending on you, I'm rooting for you.

Hindsight is a great thing - I'd put my house on @ 2.5p now. Anyway, I thought 9.33% more or less profit in a month or so was a good investment @ 3.75p the other day - you can't get that at the moment. The pensioners are falling over themselves to pocket 4% pa I hear! GBP v Dollar - think the pound is strengthening last few days but minimal movement. Very much looking forward to de-listing or pulling a Chinese rabbit out of the hat.

Still very little change this year on the disclosed shorting with the FCA. (still well over 10%) Perhaps that is changing today?

Yep, look like a couple of massive Buys got reported after hours. My theory : You put in as much money as you can buying @ 3.75p, then you get a virtually guaranteed payout soon after Feb 10th of around 4.1p. Profit 0.35p per share or 9.33%. So, put up £50,000 and get £4,667 profit in just over a month. Worst thing happens, they find a way to get the gas out of the ground with a JV and bingo, more profit. To me, it makes sense and accordingly I've stumped up another £2k which should make me £187 minus costs of about £10 (no selling costs). (PS I'm a small fry). Wouldn't expect the sp to shift one iota until the shares get de-listed on Feb 10th and it looks like the Buy price could firmly stay around 4p now. Anyone with a bit of cash could put in a limit Buy @ 3.75p and it may well trigger, who knows.

Well, the shares will still exist after de-listing and a payout, so, yes, they might be worth a little more one-day on total wind-up. Think they'll be worth next to nothing though after the payout which will hopefully be about 4.1p and should be late Feb or soon after I would have thought.

I've just bought 53,000 more @ 3.74p - hopefully, that'll make me £185 profit come late February on top of my previous holdings. Small risk, maybe they won't payout but surely there would have to be very good news for them to change their minds. Also 4.1p may not be the maximum they pay out AND with this 'matched bargains' thing after 10th Feb, the shares may even be worth 0.1p or so if anyone wants to collect them for souvenirs! BRB1 - plain English - all holders on Feb 10th will qualify for the 4.1p distribution fairly soon after the meeting on Feb 10th (if this successfully passes the motion). The shares will then be de-listed and realistically become untradeable and worthless - but don't get rid of them until you get your 4.1p payout.

5. Matched Bargain Facility Following Cancellation, the Company intends to make available to Shareholders an off-market trading facility for the Shares, based on matching bargains, where buyers' and sellers' price expectations match. After the cancellation of listing on Aim, they are thinking of setting up the above facility. Weird. I would have thought the shares would be pretty worthless after the distribution of 4.1p, still perhaps it's something they feel obliged or compelled to do. Note - the shares will still exist, only the Aim listing is being cancelled. They will therefore still exist in our accounts but really be worthless.

Looking again at the RNS, the meeting for cancellation is Feb 10th. Pretty sure this motion will be passed and the distribution to shareholders should happen soon after, say late Feb. This is forecast to be 4.1p per share approx. I'm not selling now @ 3.66p or so when looks like I'll get 10% more by late Feb. In fact looks a good buy @ 3.75p when IMO it's a done deal - a return of 4.1p gives a 9.33% profit in just over a month.

Let me get this straight, we might help someone reverse into AVP to get their listing? We might benefit from owning 13% AVP and brokering the deal? Just my thoughts.

4.1p per share - expected cash distribution, but it'll take a while. True to their word in these difficult circumstances.

was at the Arsenal game yesterday on MOTD2 with his old mucker Thierry H. - maybe they dreamed something up together?!?

There is quite a lot in today's update though none of it of an earth-shattering nature. That said, mgmt. thought it does give a few new insights into where we are with regards finding a decent exploratory site. They certainly seem to have quite a few feelers out in various countries. I'm holding mainly because my holding is so reduced it's not worth selling, but secondly on just half a chance we may get somewhere oneday. With regards Tony S., can't see us finding anybody to replace him soon - surely a position not many will be clambering for. However, if we do appoint someone, that may be a very good sign that something is about to happen. Looks like it's bye-bye rampers and this board is now officially shutting down until early Spring. Well not 'officially' but can't see there is much left to ramp at the moment. Probably bounce around the 0.3p - 0.4p levels for a while yet.