Member Info for rhys91

Everyone still alive?

Aren't the board up for nomination after every year in oil stocks? Long term holders mustve been happy with them in the near past & therefore with humpy proposition which happened to nearly bankrupt us. Unforseen I know...

I would presume not if it's been sat in the ground that long and not come into contact with that much oxygen - but this is purely a guess.

yes but any reduction by OPEC and price increase will not be offset by releasing the stockpiled oil to market - this will be staggered over time to make sure the price of oil does not collapse again and hitting potential profit. The same way in which an institutional investor will sell its shares without decreasing the share price too much in that they end up not making as much...

I disagree - The whole idea of stockpiling whilst it is cheap is to wait until prices return higher and start to sell again at a profit. Yes this may dilute the market again but will be nothing to the scale of what OPEC (SA) are doing at the moment...IMO

I've been in since mid October after playing the swings in PMO (hindsight would say I should have continued!) Yep I completley agree pre Izzy would be a yes and post would be a no with a good outcome. And exactly it can't be forgotten that we do not have any cash!! I am a yes with either outcome but it must be seen as slightly positive the RKH are looking to tie up the deal now - when in theory (due to cash) 6 months could probably pick us up for a tuppence

Good post eegbvi and pete...and I believe you are correct that the intitutional investors would have been consulted first and would have been a majority yes from that - no need to panic we are still above the brokers target price of 8p that was given a fortnight ago and I think there was slight self fulfilling prophecy in regards to that and we were always due to hit it....Fingers crossed everyone

Think you need to take a breather

Any ideas where it is likely to be? If London I may come also - Got a feeling it would be Falklands though just to make it that extra bit difficult

I hold the same view. If this merger doesn't go ahead I'm going to have to write my investment in this off as deadz

I personally think this will be dead without the merger now we are aware of the cash position and I for one dont want to lose my investment in this

I know you're not a shorter - me along with many others on here are very appreciative of yours and also eegbvis posts

Yeah i think its probably best to disregard what I said earlier - reread presentation. So whoever posted this over on iii is probably trying to fuel a no vote/shorter Apologies

I have a horrible feeling it was on the iii board - I will try dig out

Pete I did read that the future income from rkh/pmo was offset against the debt, so the 8mill was the net figure.

At least this is safe if it goes ahead. Worries about share dilution - what are we likely to do to raise more cash next year if the merger doesnt go ahead? A rights issue, which guess what, will probably leave our shares worth alot less than they would be post RKH deal. If Isobel doesn't turn out to be this 'elephant' that some people are claiming or not as big as first thought then we will be well and truely fudged - this could be a lifeline and in hindsight a very good deal.

One would think I'd be abit more clued up on this sort of thing being an accountant haha - thanks though appreciate your time and you aswell Andy

So what on earth is andy on about - I originally thought our market cap would be included but he seems to think otherwise

Are we likely to see 30% off our current portfolio once the merger has (if) taken place due to RKH's dilution? Never been involved in a company that has been subject of takeover before so excuse my stupidity

So we finish down again today....Starting to feel like I might just write these off and forget about them for a year now