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I’d be happy with 1.4 pence at this point but if the company does get bought for that - while you can’t really blame JB - Colin and so should hang their heads in shame... Not a great business model to invest £50m in an asset and spaff a load more up the wall on wages etc only to end up selling the company at a price that values it at £30. As always all of the loyal LTHs get shafted.
1) A stated value of 200m euros for the asset (once unlocked) vs a market cap of c.£3m
2) JB’s huge positivity about the licence area and reserves (without the need for stimulation) - the best he’d seen on AIM
3) A seismic review programme in operation but nothing reported to date
4) A board change, corporate review (including expansion plans) and a cost reduction initiative announced in July with no update since
5) However no bids put in for the recent Croatian licence round
6) An appeal decision pending on the permits
7) A strangely timed and apparently rather desperate protest from the Slovenian tree-huggers association re: AST in connection with the appeal
8) AST’s contract with INA running out In November with no update on it and/or any renewal or withdrawal confirmation
9) A huge trade four working days ago but with no corresponding TR1 released as yet
10) But a weird Riverfort TR1 that didn’t make any sense and was weeks after the fact so may have been released to confuse matters further
11) Ongoing silence from the board
Wouldn’t need a new contract if they were to buy us, eh?
It has to be. The price was walked down to the buy price too. The only other logical explanation is that a single entity sold all those shares - but then as far as I’m aware no single entity owns anything like that number of shares. The TR1 to confirm the holding is at least a day overdue so tomorrow/Wednesday could be quite interesting.
The proper one that is! Something dodgy is going on here.
“Shorters beware”... let’s just hope if it is a naked shorter they are caught with their pants down and oven a good thrashing (to paraphrase an ex-poster). Problem is that when that happened is that Cornhill still got away with murder and the only group that really lost out were the PIs and especially the LTHs. The New World scandal really could have opened the door to a full-scale FCA investigation and better regulation of these sorts of fundraising arrangements, but they proved themselves a toothless tiger once again.
We have to hear something, surely? Could well kick off once the mystery buyer shows their hand.
Reads like a bit of a hatchet job - fund-raising aside this is not bad news for either HHDL or UKOG
Perhaps... but the buying pressure and volume over the last week or so suggests that there may be something happening behind the scenes that is positive for shareholders. Most long term are so underwater that this is a bottom-drawer job so I can’t imagine most will sell now on the basis of a doom-and-gloom scenario...
Keytruda isn't it?
I wondered the same thing a few months back. Seemed like an obvious possibility then given JB’s local knowledge, and even more obvious now that the share price has crashed. The key thing, however, is still the permits. Without them there isn’t sufficient value in AST to raise additional funds, which would be required either way. I suspect that the current silence and the lack of action is down to the fact that JB hasn’t been able to gain the traction with the Slovenian authorities that he thought he would be able to (based on his previous experiences) when he took the reins.
Drilling HH3 into the Portland would also allow SS to put UKOG in a position in which the company has proven reserves and cash coming in, while the Kimmeridge remains unproven in the short-term, meaning UKOG could then potentially pick up additional Kimmeridge acreage at a good discount to potential long-term value, using cash reserves and a loan against the Portland reserves, rather than further dilution.
Done.
I was under the impression that Sierra knew that it was primarily a combo drug when they took it on? But let’s just hope that NG looks smug for a reason beneficial to Sareum - and not just that he’s an overpaid clown...
RMM... Silence is golden apparently. I'd be happy with a slow, steady climb here, as fun as the sudden spikes are. At least if you have internet access. (I will never forget being stuck in a meeting during the 9 out of 10 mice episode. A pretty pointless catch-up that proved pretty costly too. I've never truly forgiven the colleagues who called it... But I digress... Wondering if BARKBOO has heard anything from his scaffolders over on ADVFN. We do seem to be on the move at long last.
Suspect we’ll see another delayed chunky-ish buy today. If not it’s interesting to see the price moving so fast on so little volume...
Hahaha! That said we’ll all be best friends with him if it turns out he’s been oiling the wheels of the deal of the century all this while...
Wonder if the Kraken is stirring at last
Something stirring? Could perhaps just be down to the confirmation of the BMS deal on Friday, but would have expected that to be trades from opening.