Member Info for redeyemines

I thought we had ii interest all last week, and if thats the case, then this placing should be swallowed up very quickly.

-This cant be about the need for cash, as that could have been raised later, at presumable, a much higher price.

-Maybe this raise is to satisfy demand.

Yes Bluerill, lots of garbage being posted as "facts", and I've deliberately stayed out of it and just ignored the posts.

-But now you have started to correct a few of these past red herrings, its maybe worth having a look at a couple more and see if they are also built on sand.

-

---lets start with this ---

-

-" Last I heard it needs a lot of work in terms of maintenance as it has been sitting on station for a what nearly 4 years now."-

----- really ??----as if they are going to leave a multi million $ vessel to sit and rot.

-I bet there is a very competent crew on board who are keeping her in tip top condition.

-

-and then we have this

-

------ " all federal permits, regulatory permits for ACOES have all ceased, even if it was to come back to life as a pipeline and FSO the permitting would take from scratch about 2 years, before any construction, hence the other project was made to happen."

-

----If ever that was allowed to happen, i would eat my hat------------ this is not some corner shop, and O Fanning is no fool, --in fact in my knowledge, he has always been years ahead of the game.------Those permits will be up and running as soon as we are ready.

---enough said.

-

-----"Mahmud also expressed support for open-pit coal mining, saying domestic coal resources should be included in the future energy mix to improve energy security and reduce import dependence."

Well where are we now, and why?

-

--- Over the years, it has been us PI's that have shouldered the burden of a falling SP and successive fund raises.-We have all taken deep breathes, bit the bullet, and averaged (mostly downwards), and put more and more of our family funds into what seemed like a bottomless pit.

--Now here we are , almost at the end of the Tax year, and most of us are "maxed out", both in available funds , and ISA room.---------------how many of us now hold multiple millions of these ???

-

-You might well ask "so what's your point" ?--- and i'll tell you --

-------i don't think PI's have much buying power left--------------so who is doing all the buying now.

-

-A placing has sucked out buyers to the tune of 16 mill shares, but still the buying continues.

-

-Volumes have climbed to over 10 mill as this week has gone on, and the SP has risen steadily-----------10 mill at 6p is one thing----------10 mill at 10p is quite another---------this is getting into serious CASH now.

-

--- !0 mill and a rising SP tells you that the majority of that turnover are buys.

-

-If its not us PI's, then the chances are its serious -----are we seeing the start of II interest here now----------because at some stage that thundering herd will head our way, and this could well be the vanguard .

-

-It's not so much the vol of shares traded that is focusing me, its the underlying cash value now.--------------------------------------------------- This is not PI.

-

-Follow the money.

And we all know that "we THINK" that this is.......

.

.no need to be pr.t YKIR

Well, well..... they have the manifesto out on Fri 6th, which hopefully talks about OPM.

..and the following day T Rahman visits the area....Surely this is all about phulari/barra. And he must be confident of getting a good response from the locals.

..this is nailed on now, but still below most people's radar....get them while you can..

Yup.---could well be.------ Bara and Phulbari under one umbrella, quoted on their SE and headed by Petrobangla.

-

----- maybe

---------Well after that from Mahmud, ---if they dont completely take the brakes off the SP, then we know for certain that bigger plans have been hatched.

Good find digging.....another sleepless night for me

Thanks for all your efforts Searcher --its much appreciated.

Maybe Amgd, you could spend some time and find out the answer to your own question....Then maybe you could inform the rest of us with your findings.

..That would be far more helpful than just mindless sarcasm .

.I'm sure we will all appreciate your research.

All forgiven mate......or did you really have inside knowledge ..lol.....

..you're aloud to post and cheer with the rest of us.

SBYB

What's your point BS. ,.... Just trying to fill the screen up ???

Shouston ----is this fact please .???

Wow...... thank you shouston

Lol

Been a bit busy elsewhere of late, and not posted much on here, although i'm obviously still closely following everything.

-

--- The one thing that i can say is------it's all been said.

-

-There's not enough volume to shift the SP and get people excited again, and months ago the MM's would have hiked or dragged the SP around to generated turnover and make a living for themselves, ---but time is not on their side to play those sort of games now.

-

----As others have already said,-- a couple of bits of news, (placing and P.Shack), have taken the wind out of everyone's sails, and left us all looking at one another for some sort of inspiration, with nobody willing to buy, or sell.

-

-- so is there anything, apart from the GL, that can break this stalemate ?, ----something that will bring in fresh money and start the ball rolling towards a proper valuation.

-I'm afraid that it will take II money coming our way before that can happen.

-

-One word from the BNP about OPM,-- one mention of Phulbari, -- maybe that may be good enough to allow funds to be able to buy in , and the II's could start to scramble for stock.--- Then we'd see some action.

-

-The roadshow will be in the North as from tomorrow, and if someone asks the right questions, we could get the comments we need. Also the BNP manifesto could and should be out over the weekend, and again we could hear the words we have waited years for .

-

-I know i'm just repeating things, but really we need ours eyes and ears wide open over the next few days.

-

-Might even shift the rump of that placing at last.

Well now GTJD,----- thanks for finding time in your busy schedule to give us some of your words of wisdom, and your opinion on it all.-

-As you say, --"where does one start " but i'll try.--

--" Well the ruling is fair in my opinion" ---luckily its not your opinion that counts, and the company sees it differently than you do, and we are appealing.-

-

-"Its Ironic that the funding article appeared within a few days of the court announcement,"----that may well have been the other way round, with the funding article already in the pipeline and the court case coming before it could go to print.

-

----"That funding will go along way to paying creditors off."----well if I read the article correctly the funding is expected to be between $200--$300 mill, so just how much debt are you trying to tell us we have ---(including Brightwaters I bet it's not more the $50 mill).

-

--"I don't know enough about the 2016 loan note being called in that would enable them to increase equity,"----maybe best not comment on that then eh ?

-

---" I am assuming that would be in Eroton as ELI is a defunct company now, "----- if you saying that the holding SLE has in ELI is worthless ?---then you should consider your statement about the funding being nearly complete.--If $200-$300 mill in SLE bank accounts will sort any problems ELI may have and increase SLE's stake into the bgn (you work it out)--- we could finish up with over 70% of ELI.

-

--"If that equity increase goes through, good news indeed, SLE will have increased their position within Eroton's equity share of OML18, that is about where it stops, it would just be an increased equity position."----so increasing their % in Eroton (and indirectly in OML:18) is not worth doing , according to you.??-

-

---"Solvency v insolvency, an interesting question, only SLE know this"---yes they do, and so would Mr Justice Kennedy, if he had taken the trouble to ask for the management accounts. (again we are appealing that ruling)

-

--"I wouldn't get excited about building a pipeline and operating an FSO as that contract is terminated and dead and its never coming back to life"-----where on the earth do you get that idea from ???----The pipeline is there, the FSO is there---sort the debts (funding remember)-and the pipe and fso are very much alive.-

-

--"I said this before the block doesn't need 2 x FSOs and 2 x Evacuation Pipelines."-----the "block" won't have 2x2---the other one is for OML 10,  remember.

-

----"My advice to SLE on their fund raise, increase is to clear the debts,"----we've been through that, don't try and make out our debts are way way bigger than they actually are.

-

---" But like I said a few weeks ago, if there was anyone who needed good news it was you guys and if this deal comes off, I shall raise"-------No you wont---you and your forked tongue will disappear back into the shadows along with your other sly posters.

"however we are shocked that Justice Kennedy then went on to make an assumption of insolvency (which was not the subject of these proceedings)-

--...."SLE was never questioned about or asked to explain its solvency, nor asked for any figures or documentation relating to same, nor for its management accounts (which are ready to be audited and filed shortly). These would clearly show that the company is not insolvent. there was no "evidence (that the judge refers to) showing such insolvency" said the statement.

-

----The judgement was based on inaccurate assumptions, and will be appealed.