Member Info for ranger104uk

when you want to hide something use lawyer speak lol.

52.5% of the total of the overall votes (for MH's proposal) totaling 10,500,000 shares 84% of votes cast today

Today required 75% total which was 15,000,000 votes so 4,500,000 short of today's requirement for the proposals to pass

75% was the required Quorum today.

read the figures make your own minds up

The vote required 75% in of the vote to get to the agreed Quorum of 75%

Echo got 52.5%

22.5% short of the requirement for the quorum.

Some way short.

They already got 52.5% I don't get this massively reduction of the quorum to 25%

For me it's not 25% of the votes thats not cast.

or Am I getting that bit wrong

52.5% of the total voting bonds voted for Echo's proposal

A resounding backing there

Doesn't put me up or down about what some of you folks think on my views.
I said the 15th was a given as this is how the system works. More dilution more ramp draw more people in then more dilution more money for the guys in the club.

How many times have we hard the same pitch... When the big news drops then boom multi bagger multi penny increases.... And on and on.

Echo not long ago was an exploration company, over time its acquired small producing wells with the potential or a quick increase in production will low cost work overs. But with the jewel in the crown TA to change everything plus various other potentials.

The exploration seems to have gone cold and the testing of drilled holes put on hold? The production workovers have stalled low production wells closed in due to world reduction in demand. But yet exciting times ahead.

Everything on hold as there is interest to pay. Surely they'll not force echo to pay the monies that are due? Come we can spend that money on better things... And you don't really need it,. Here's an idea echo will pay you €100,000 which is vastly less the the interest due and give shares and in a few years time we'll do the same again.....

Now click those Ruby Slippers and Say..

I know I've said this before but the company was very few personnel which is fine when everything is working as it should. But there is too much field works needing doing with very little being done in the last year. The focus has been solely on cost saving or streamlining. Which is fine if echo were at nearly full capacity but closed in wells and others requiring work overs.

Can't see it being anything to do with window dressings for the bondholders.

TD
The reason for the spike last week is clear. There maybe a chunk size newly acquired (5%) holder wanting out. Make a dummy move to shift the market then off load. What better when you have a given date when news SHOULD be released on. Sharks would have been waiting for a quick lift. Meanwhile Matty clears 50% for a months hold.
Plenty 1M chunks being sold over the week

Never mind the pipeline!!

Think the SP has sprung a leak too

Abzzba
No that's not the case.
I haven't looked into where all the wells are and which ties into where or if its stored locally.
The workovers were identified long ago. The pipeline and bottleneck issues have only recently raised its head. I see all 3 things as separate.
Reopening closed wells.
Pipeline and bottleneck.
Workovers.

The workovers should increase production. The other 2 are to get back to precovid levels.

MacF
You have a whole raft of shutdowns coming with regards the pipeline fixes and work overs that haven't yet started. (Not all works will stop production before anyone chirps in)
so there is both financial outlay and reduces production still to come before the "exciting times"

I get the feeling even the Rampers don't think any jump in SP after a debt agreement will last that long.

But isn't echo in need of one right know with the works they have on their plates now and the near future? Better have the know how in house in my view.

The bonds will get rolled over but as Abzzba says there may need to be another rns with another carrot to make it look as everyone has done their job in the negotiations.

I think MH is finding that delivering on the pipeline fixes to bring locked in stock back online isn't as easy as opening the taps again. This is before a good number of work overs are due to be undertaken.
Running an OnG company isn't just being clever about moving figures about and repackaging debt.
Its about getting the product out of the ground and to market not just the stuff he did at Rothschild.

Yes looks as if the urgency has died down. Probably a Mad Friday at the end of the week.

Any delay would not be good news.

WT

Malkis got it right 2 RNS's how would have thought it.

Everyone gets a lift from a sunny spring day.

Someone always has to sell for the next man to buy.
Next week will be as interesting as the next couple of days cricket.

Hats off to them that are honest.

Have a good one

Malkis
Did you catch the cricket this morning? Just shows you how quick things can change.
Good session for the SP so far today.
Planetary alignment in play today no need for your cards

Toppy
And it fell back from that price to spend most of the last Q of 2020 below or around .40

Both .9 and .4 are in the abyss compared to the SP when I 1st took an interest at JP's companies .
As you rightly point out it has been a bleak viewing .

As for the jacket I always find them a bit too long on the arms.

If it was so assured, that was issued 10 days ago and since then the SP has done what?

I think many LTH's are puckering up as the markets don't seem to be following you're thinking.

IMO drift next week slight rise on bonds / loans being kicked back then slide to .30s within 4 weeks

See you at Marwar Junction

I don't think it's as straight forwards as just a vote. Yes there will have been prelims we can see that there are hand ties that have been mentioned. There will still be strong questions that need answers.

I keep my mind very open with gets posted in here. Generally I'm a very good judge of character. But I hold my hands up to employing an ex forces guy as a mechanic only to quickly find out he was a cook to trade just good at tinkering with cars. this was many years ago but a lesson for many. He didn't con me I just didn't ask the right questions or do any DD.

I don't see any news before the the bondholders meeting, but if there was it would need verifying before it made any odds.

hand is raised