Member Info for Peakview

There is a distinct difference between bullying and trying your luck - which is exactly what RRE are doing - but the language used in their RNS will certainly curry no favours with the Administrator, who are clearly onside with the IOG board and are merely doing their job on behalf of LCF bondholders. And being straight to the book in their dealings, they will almost certainly have seen positive evidence of a far better jv arrangement on the table with a far more substantial partner IMHO.

I am on the same page too Citizen. No expert, but as I undertood it, the administrator is purely an observer at IOG to ensure that all matters relating to the LOG loan are handled by the book? I think we can trust this BOD to do just that - and to kick on with bringing all the machinations of a joint venture deal to a much-needed conclusion.

Frankly not interested in anything the trolls have to say, and anyone on here who is influenced by their nonsense just nosedives for me. Hold on to the fundamentals, watch the developments as they unfold and establish your own course of action. Methinks there is a joint venture close to fruition, and once confirmed and FID announced, it's goodbye RRE as we forge ahead with the long term plan to bring first gas to the market, hopefully by 2020.

Finished patting myself on the back now - better to appreciate the swift and determined action of the BOD at this very tricky time. Good post ali - let's say it was a combination of both factors? I like the 40p target mentioned - it's not enough, but at least a practical figure against the recent trough of nonsense posted here. GLA LTHs - and recent ones too!

Absolutely no chance of any BOD issuing statements whilst a number of issues are still at the exploratory and negotiating stages - but I don't think you will need to exercise too much patience for news of one sort or another. And ali, the RRE offer was swiftly rejected because it was derisory and bears no relationship to the proven value of this company. As a dedicated shareholder I would expect no less of a responsible BOD.

Thanks for the sea-going expertise Sailor, and this is one of the positive rumblings that focusses on some serious action behind the scenes and a sequence of lively sessions on the market.Recruitment of Richard Jameson another positive as you say viti, and methinks RRE will have to sharpen their pencil considerably when it comes to bid confirmation time.

Encouraging news from the BOD just when it was needed. I share bandits interpretation, and whilst the RRE bid will certainly be declined, it has at the very least opened up interest from other suitors who have a very good knowledge of the underlying worth of this company.

Trying to stay grounded, broker forecasts of £1 plus looked perfectly realistic last June when we were sitting at 34p, but a lot has happened since then to drag us down to this level. But the uncontested value of the assets aforementioned by 600 will not be lost on the major players in this industry - and whatever the tactic, no-one will be allowed to get a bid fulfilled at this derisory level IMHO.

I can't think of a public project/football stadium/rail link etc. that hasn't been delayed weeks/months/years in recent times, and the availabilty of the rig has appeared to be the chief problem in this case. These are slightly frenetic times, and it is frustrating to say the least, but I cannot believe anyone is sleeping on the job at HQ given their strong interest in a good outcome. A favourable result mid-year might be timely as the saga of the bid rolls on to a different phase. Sparrow posted an interesting analysis of why RRE would benefit from possession of the longer term gas assets - and given their ambition via Marathon etc. in the North Sea O & G scenario, would not possession of the pipeline to link up other producing wells be an even bigger benefit??

Very good post bandit which spells it out in exact terms. As a layman's example, we have a house independently valued at £1m which probably needs £300k spending on remedial work. It's not actually on the market, but a laughable offer is made to buy it for £200k. Good or bad deal? Don't think we need a session of parliament to tell us the answer.

Good summary of the current scenario Citizen, and hard to find some common sense assessments on this board since the return of those who got it completely wrong a few days ago, and now shamelessly post another raft of doom-laden nonsense.

Reference your post ali - I think "another angle" is the likeliest scenario. The £80k purchase is a show of moral support, and at these prices we are still a knockdown if the obvious course of refusing the bid is pursued. In fact, with a 3.5p profit against the bid offer pertaining at this moment, it looks like the whole market is anticipating a refusal.

We have considered it dunder, and no need for a straw poll to tell those with a simple calculator that it is derisory. At least, as viti implies, it has taken us onto the radar of parties that are seriously interested in partnership here - and have the funding clout to back it up.

Oh dear Trump, do your sums please! Never mind the mcap, have a look at the asset valuation. No way this company is either in trouble or even contemplating bankruptcy. RRE will be back with a much improved offer that will also be rejected - thanks Longside for explaining why!

And my hope, as expressed in numerous posts over the last year or so, is that they do not go anywhere. A number of LTHs shared the fear that whilst funding was being sought our greatest risk to long term fruition of the project would be a takeover bid - but certainly not at this derisory level. Very pleased to see the BOD reject the offer very promptly. We will now get almost inevitably an increased offer - which should also be rejected - and negotiations to acquire a solid and well-funded partner should continue IMHO.

That was rather well put alligator, and I found myself thinking along similar lines - although your observations on developments and issues here will be sadly missed. Ironically, I have felt even more positive about prospects here since the RNS announced the intention of farm-out and taking a funding partner on board. Strong start to the week is always welcome, again on fairly light volume - and if it is due to the "east coast offshore rig guys" interest in partnership, we keenly await further news. GLA

of the invasion of trolls, de-rampers and mouth-trashers on this board is the flight of experienced and knowledgeable gas industry posters such as GGIS, Longside et al who would interpret technical and practical developments in the company for the benefit of fellow investors. They obviously have no wish to play these silly games, and who can blame them?

on very small volume, so the very large sell did not happen as so few are willing to part. Have a nice weekend all LTHs!

Slightly different stance now that you are an investor? I would not say that your constant knocking and misleading posts made any difference at all to the SP as most LTHs like myself paid absolutely no attention to them. Now try and give a more balanced and considered view as we move into a fairly crucial phase for the company.

Good call 600, and definitely worth the effort - the reply at least indicates that things are happening and have priority. Patience mat yet be rewarded for LTHs!