Member Info for Rickylfc5

On 30th April last year RRE published its year end figures and announced the return of £1.50 to shareholders. I don't believe the share suspension should stop this happening again (anybody got any thoughts??) hopefully with £2+ this year

Yes sorry - misses the 0 off meant £60 - not impossible!!!

At $100 we will make at least £250m post tax and on a multiple of 3 that would make £6

When RRE did a similar deal to acquire Idemitsu the whole process took 7.5 weeks (which is about a week away) so you never know

Unity - I don’t think that a PE of 8 to10 is possible (which would be over £100) due to some of the reasons you mention but a PE in line with similar businesss would be fantastic and would still be £40 to £50 on post tax earning of over £10 pee share

Oil price still rising - PE of 2 gives a share price approx £30

We are gathering a list of like minded people - email me at Richard@bordervendingnw.co.uk if you are behind us and let me know how many shares you have - I know that I shouldn’t release my identity but this is important ( and you Leon if you suddenly find that morals are important and that ethics isn’t a county east of London)

Yes it stinks. - please help me by continuing to pressure Arden and PB etc for a pause. Don’t forget PB and staff have recently bought shares so it’s in their interest to get to the bottom of this

Jim I - already done - have contacted Arden Partners and will continue pressure until we get full clarity. If this deal proves a winner I will be very happy but it needs full scrutiny

There is no doubt Zorbas and Leon are behind this deal and will benefit from it. Zorbas has failed to notify shareholders of a direct or indirect beneficial interest in the transaction. We need to create a stink otherwise it will get brushed aside. I have messaged PB and several people who work for him - I can be very annoying when aggrieved ??

I have nearly 2% of Mrs and I am looking to call an EGM re this acquisition

Let me know if you back this move and the percent you hold - we need 10%

Sold these last year when looking at the Balance Sheet - Trade payables were in excess of $10m - they are now near $11 million and total short term liabilities are over $16 million (more than Zen's market Cap) How on earth Andrea is juggling this is beyond me and how these can be paid in a matter of months is a mystery. Zen is hoping for an extreme sequence of events that ends with oil being produced in large quantities as a last minute saviour. Put my cash into RRE and would be interested to hear any decent reasons before I buy any Zen shares.

Looking back at the acquisition of Idemitsu (similar reverse takeover transaction) it took about 7 weeks from suspension of RRE share trading to completion - hopefully they can also achieve a similar timescale (or quicker)

Are you really saying they get all the fields plus $359 million for a spend of $140 million??? Sounds unbelievable. Even if it largely for decommissioned.??

Jimmy - where did u get the $350million in the bank from??

Denzill - 2 points on your analysis
1. I don’t think the Marathon oil is as low cost to extract therefore you can’t just double the cash flow
2. You need to consider tax to get to a net cash flow position
Either way - it’s looking good at the current price of oil

At today’s oil price RRE should make at least £150 m per year and a typical valuation multiple would be about 3 which conservatively gives a value of £25 + (after tax) my worry is that oil may crash throughout the period the shares are suspended

The time for Leon / Zorbas and other large shareholder s to get out and find a buyer for around the £40 million mark

The oil price doesn’t collapse to take the shine off this deal or maybe we need to short oil to lock in gains??

All that nonsense that Greenhills was spouting about how many days until suspension - what a clown