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At what point do we assume the frack is late. Equipment due early April per previous RNS but no news yet.
Nuclear will be lucky to be sold for £1bn but to me it is key that this goes. Whilst everyone blames the current CEO for the problems Sam Laidlaw has to take some of the blame for poor investments. These drove debt up and hamstrung the company. I am looking for Nuvlear to go next year and for Spirit Energy to be floated and sold down at some stage. I then believe that you will unlock value and make the company attractive. She’ll or another big energy co may be interested in the Rump of the business but would not want Nuclear or Spirit Energy’s portfolio of oil and gas. I don’t currently have a position but will be starting to build one later this year in the expectation of a recovery.
I’m taking 20 years ago, was in at about £1.50 before they were bought out.
I’m not in. Watching with curiosity and have some affection for Debs as held when they were bought by PE about 20 years ago, mad a packet on them then. The only high street clothes retailer that investable at the minute is next in my opinion.
Ashley is the one in the driving seat and can afford to wait. Debs is not what it used to be and needs a lot of investment. What happens if he doesn’t bi and doesn’t withdraw egm request? The company can’t afford the financing.
The terms are horrific and there is no way DEBs can afford these. Price movement today is false dawn. I expect the price to drop as people realise exactly what had been signed up to.
Pro-axis
Have you allowed for a value for glycotest and piracies in that?
See my earlier post, value is £26-27m for share of pds
PDS alone is worth around 33p per share based on current market cap, whilst it would be difficult to exit that underpins value at more than current level.
That’s just cash value though. New co has circa 5.3m shares and is trading at $9.50 so entity value circa $50m, our share is 70% so $35m converted at 1.325 gives £26.41m
Which makes share of PD worth about 33p on its own.
I get the value of our stake to be around £26.5m, does anyone else get similar?
..
You can’t trust anyone on the boards
No, not happening. Next raise will either be significantly below 4p or way above 4p.
But on the plus side of it was water they would definitely know by now :) so looks like we are good for oil!!
Reality is that uk authorities don’t car or do anything anyway and my understanding is that so long as you don’t trade on inside info you are fine. There will be so many people on or around the rig that an anonymous twitter link would never be traced, although we are getting way off topic now.
Yes, plenty to fund flow test, will have about $3m left after drilling, although drilling has been very quick and efficient so may be a little under budget.