Member Info for romaron

Smokin, that is a responsible and well thought out reply and opinion in complete contrast to the first paragraph in your 13.38 post. I only mentioned Milliband because it means I am open to ulterior and self-interest motives (Lewis) and he was the only one I could immediately bring to mind though the numbers are legion that put themselves first. The title 'what is the point' refers to the four ale regulars who have to post even if there is nothing going on and it is truly drivel. Up to midday the board had squif and Krakenoil saying the same things they say everyday and repetition doesn't improve the content. Your response only inflamed the immature side of Krakenoil who then starts hinting that I was bullied as a child. Internet tough guys don't bother me because I always invite them to meet me at the AGM and we can discuss it further. They never turn up and it is debatable whether they are even investors. I am a LTH too (3 Enquest AGMs) and I think we are out of the woods but glad there is no large capex staring at us. I doubt lenders are easy to find and Kraken may prove to be one of the last oil field sanctioned for a medium sized oil company in the NS. It nearly cratered the company but has proven to be a goose (imo) that could put us in a commanding position for the next stage of Enquest growth. Don't underestimate AB. Be Lucky

typo 'their trades'

Some clients want there trades done at the close. If you're a principal you want the best price; it's not a crime and MM's are employed to do their bidding. Every trade and industry have retail and wholesale clients. You can manipulate to a degree but fundamentals win long term. Skimming off the top operates everywhere and I hear that some people even try and evade paying tax. Welcome to the real world but this won't affect Enquest if it is a sound company, makes a profit and pays down debt. I suggest cash under the bed might be your best strategy and then you can stop worrying about an imperfect world and always looking for someone to blame.

Krakenoil, you're not clear. In FX we were (are) called Money Brokers rather than Market Makers although the functions are almost identical [agents]. In stocks MMs can hold positions but quickly go to auction if it gets too hot. A facility not open to FX although there were daily spot fixings at European bourses and treasury bill auctions. Anybody can control (temporarily) a market if they have a large player with an order. In September 2015 I attended a tribunal where a Citibank Dealer was claiming unfair dismissal. Clients of the bank had numbers given rather than names to avoid their orders or deals being overheard during telephone conversations. However, the dealers took it a step further and hid actual deals from another part of the dealing room. They were hidden from the sales team and like all good salesmen wanted scoops to pass on to close deals or befriend their clients. basically, they couldn't be trusted to keep their gobs shut. The biggest prize was knowing what a certain hedge fund was doing and everybody knew his number. Controlling a market is just having a little more information than the competition. It works selling oranges in a fruit & veg market too. plus �a change, plus c'est la m�me

Smokin you cheeky little guttersnipe. I've never punctured a football but have been known to confront people riding bicycles on the pavement. I think a better analogy for your actions is playing 'knock down ginger' which is really irritating but sniping on a bb is a useful outlet for those who haven't outgrown it. Of course MM actions are sometimes questionable but not every day and isn't it strange that they are not playing their games when the price goes up? I was a MM in FX back in the day and although we were not supposed to have a position it was often unavoidable if you wished to make a success of your business. I did have large banks ask me to alter our screen (a benchmark) around LIBOR fixings. Even though they were among our best customers we always said NO (what do you expect me to write). I also travelled to work with (coincidentally) the head of Barclays stock dept and a senior analyst in the retail sector. Oh, I also worked as a trader in 2 banks. It doesn't mean I'm up to date but certain fundamentals don't change that quickly (or ever). The MM is part of the investment process but cannot be blamed (for example) for the price of oil or poor judgement of companies. Occasionally they have an advantage but it is usually temporary and might be managing a large order for a client. It is the client who really pulls the strings. Of course you now have algorithms and bots. I have yet to come across a MM who understands them! In my day they were quaintly called 'derivatives' which few understood but that is unimportant most of the time. Mainly you have to believe in them because others do (self-fulfilling?), unless, of course, you are Nicolas Taleb. You can turn on a light or drive a car without being an electrician or mechanic.

of this board? This morning it is only the puerile drivel between Kraken Oil and squif, neither who seem to have much of a life away from the board. Perhaps this is their hobby or job and hopefully they'll go off dogging now the weather is getting better. All this whilst an interesting post from Therapist goes unanswered. The pathetic mantra of 'it's the MM's' is incorrect as much as it is a comfort blanket for the intellectually challenged. I don't know if Therapist is a makebate and deliberately provocative or stress testing an investment or potential investment but he does go to the crux of the matter by using the Barclays situation. Yes, Lewis seems to have been a sceptic on the future of oil and broke the mould of back scratching we've been used to in the investment world. He has been right though and true to his beliefs he has gone officially over to the other side. It was also self interest as MiFID II makes sell side analysts an endangered species. Lewis has made a good decision for himself - bit like David Milliband sodding off to the US when it didn't work. The question wasn't directed at me so I cannot answer for chilting whose input I value. What I will say is that any oil not yet out of the ground requiring large capex is looking decidedly dodgy. It could make building Hinkley Point prescient if carbon tax is raised. It also means that oil is unloved and the large investment companies have moved away. I think that the Enquest business model going forward is more accepting of the real world and expect boring old cash flow and reduced debt to make it impossible to ignore. I believe that AB is also a good helmsman in an industry facing large change. It also appears that fracking isn't the panacea to the problem. I think oil has 100 years tops (a guess) before we're finally weaned of it but selectively it is a good investment. *the oil world doesn't change overnight and Kyoto was in 1997. SRI and ESG always sound good but I've found that usually cash rules.

They do seem relatively sanguine about the situation and it probably means further dilution for us but not to the extent we've seen. I was also told that there isn't any reason for interested parties not to buy or sell shares as the regulatory situation means everything is out there in the open. We saw last week what happened when Caledonia sold c. 6 mio shares. It wouldn't take much to push the price the other way and I wonder if Caledonia's move was serendipitous as it has discouraged PI's from investing due to the price gap with the rights. It would be impossible to buy a decent amount without pushing the price past .1125 so you could make a case for it being in the interest of those who will underwrite (or have no other option to keep the lights on) to pick up shares cheaply from PI's who don't subscribe. I know for this to happen they have to believe the intrinsic value is higher and it requires them to invest further but it wouldn't surprise me to see a new investor coming in under a smokescreen. It is getting interesting. Of course Caledonia could be right and it was time to bail. Without Caledonia the price would be hovering around the .11225 price imo.

In a recent post by XxShakenBakexX I read " selling and delivering satellite infrastructure to many market vericals". I read it as 'market verticals' which made more sense to me and put it down to a typo. I read it again and googled verical. I didn't doubt Xx's veracity but it's nice to have confirmation that he works in the industry and has a better understanding than the layman; a layman wouldn't know what verical is. Whatsoccuring is also in the industry or associated and it's reassuring to have some posters who know what they're talking about even though their stock picking is as bad as mine with this stock. I've picked up a few more sub 10p and may go to the 25th GM though I'm fully aware my vote won't make any difference. I watched the launch and spoke to Avanti last week. I commented that whilst the Japanese turned up as a bus load David Bestwick and the Orbital guy were decidedly outnumbered. They certainly don't think satellite technology is all over in Japan despite what some posters say. My contact replied that DB was quite emotional about the whole thing. I liked that.

No, I didn't notice the huge dip. A few desultory deals of small amounts is not usually significant in my experience.

I emailed Avanti over this. Hopefully it doesn't cost a lot but it does seem misdirected targeting. Perhaps they have to include anybody researching and the algos aren't as clever as we're supposed to believe. I'd ignore the share price. I imagine it's a pain for the MM to keep it alive and the spread is a reflection of this. The company was basically finished until the bondholders agreed to swapping debt for equity. We [PI's] are such a small percentage of the total anyway and more than half the stock is held in 'non public' hands currently. Once the restructuring goes we are an even tinier percentage of the 'not in public hands' and have little (or none) influence.We are a distraction imo. They probably needed to keep the price alive and quoted for future developments. The action will be the launch and then contract growth as the satellite comes on stream.

How many years has Africa been the 'next big thing'? It is usually money down the drain to invest in potential as few projects come through, especially in a febrile region like Africa where corruption is rife. Latency means that satellites can never compete with fibre but we should remember that this is a part of the world where fresh water and metalled roads are rare or kept in good condition outside of cities. Laying fibre may end up fencing a vegetable patch or used to tether a goat! Maybe google balloons will work or facebook drones but what Africa needs is basic infrastructure and whilst some seem to consider satellite old technology we do know that it at least works. Europe fears immigration from Africa and one of the ways to stop it is to give the countries the tools to become independent by driving down unemployment and grow their own industries and companies. Throw in the criticism charities are now receiving and foreign aid will become more focused. It will happen because first world countries see growth in Africa and self-interest has always been an important driver. I don't know if Avanti will be at the forefront but the timing of this launch couldn't be better imo.

Many here will have held shares in other stocks that disappointed or failed but Avanti isn't behaving like some of the pups I've owned. You normally get the never heard of before company making a loan to save the day in a beautifully crafted RNS which hones the 'highlights' to within a wafer thin level of deception. The incomprehensible wording using terms like VWAPs which I don't understand but have the effect of protecting the lender who manipulates the sp whilst doubling the pound of flesh provided by the shareholders. They are often based in places like the VIrgin Islands. These are death spiral financiers who live off crushed hopes and poor management who know it's their last chance of keeping the gravy warm. For this to work you need directors who have achieved little and have no reputation to protect. I don't think this applies here and Paul Walsh is the antithesis of the type I've described. The companies invested here stand up to scrutiny imo and whilst not into altruism it is serendipity that their interest align with the remaining small PIs. They have skin in the game for sure. It doesn't make this a success but they will go down with the ship if it fails. The recent RNS regarding the David Bestwick trade? Possibly putting them in an ISA? I read it as a Director's BUY. It's almost impossible at this stage for any Directors to trade due to insider knowledge but it doesn't affect existing transfers. Be Lucky

I should add that they mention 19 Feb and 20 March. The gap is probably to give dissenters a chance to try and overturn it but with 98.09 consent they stand little chance.

Scotty, I think it's procedural and is anyway after the launch. These things tend to be agreed beforehand (see 8 Feb RNS) and go to the court for the rubber stamp.

As we draw closer to the launch the price remains stubbornly around 9p. There is no cheer leading on the bb's or a share tipper choosing Avanti as the stock for 2018. Influential share holdings are held by a few large holders and 53.10 per cent are classified as not being in public hands. The spread makes it untradeable for those who like to play and I wonder if this is intentional. The bond holders have been forced down this route and have little sympathy for existing shareholders. The only benefit to the small PI is that it means our interests are aligned with theirs. I don't see these people intentionally wanting to pour money down the drain and they have chosen to launch the satellite. They cannot trade themselves because being members of the board they have 'insider' advantage. It is not about us but what is inside the minds and interests of the directors and the large shareholders. At the current price to get a decent amount of shares would be near impossible and would drive the price sky high. For what purpose? You could not get a meaningful percentage. The Avanti web page says there are 162 mio shares and deducting the locked in shares you get 75 mio shares. Lets say 50 mio of them would sell now. With the 2 bio additional shares coming our way a new investor would end up with 2.3 per cent. Certainly not worth the effort. We have been collateral for some time but it is now beginning to get very interesting.

That's good news. I doubt that Avanti can really announce more major contracts until after the launch as they no doubt all have written in them "subject to a successful launch". Interesting article in the Sunday Time about South Africa. 50 per cent youth unemployment and poor education. One of the problems (it said) was that even if the students can get hold of a computer, internet access is not guaranteed. This is in South Africa which is one of the leading economies of Africa. There will be a reaction against the major charities throughout Africa following the 'colonial attitudes' of some of their senior management and the money could be better spent on providing the countries with the tools to be self-sufficient. We know that communication is paramount and young Africans are no different to our kids. A successful launch on the 16 March followed by a period of bedding in and we should know if the company has a future. Be Lucky

OPB's use of TINA sums up the situation. The only adjustment I would make is that the acronym should have been TWNA and the equity holders will accept the restructuring as they are mainly bondholders anyway. The AGM voting confirms. It is pointless to garner anything from the current sp. The bets have been placed and the roulette wheel is spinning. In some respects it's red or black but it doesn't explain the launch going ahead, the recent hirings and a Chairman with a reputation to protect go into the mix. The last bond price of the 2023 was 26. Even that is deceptive as it was effectively lock-up paper and held by not much more than 3 large holders. You could not have traded it. Being a simple man I had to use the available financial info in the same way you nail jelly to a wall. I divided $557mio by 2.16 bio shares = 25c. The EV is a bit higher because of other debt but I've ignored it as it really is a wet finger in the air exercise and this'll have to do. Even 25c (18p) is ambitious but is higher than 9p which in itself is a stab in the dark. It is hard to put a valuation on and if the bondholders had not taken the haircut there may have been no launch and the haircut would have been basically to zero. Lose the lot or take a risk. I would say ignore any prices for now as we won't really know more until 16 March but if you cannot resist a punt before the Grand National I'd say Avanti is a good outsider with odds of 10:1

No they don't. If every goal announced by Mr Musk's SpaceX company was reached on time he should by now have finished an internet for space, have tourists orbiting the moon and demonstrated the quick turnabout capability of his smaller Falcon 9 rockets by reusing one within 24 hours. Almost nothing announced by Mr Musk is accomplished when he says it will be. Source: The Times

You're not Scottish by any chance Mr. Mole? �It has never been hard to tell the difference between a Scotsman with a grievance and a ray of sunshine.� PG Wodehouse. Only joking and you're right to spot the news. I've found with my computer and car electonics that turning them on/off usually clears the problem. I've emailed my suggestion to ESA. I imagine large players are watching developments with interest and I hope the source of the latest launch problem is found and solved before our launch. A perfect launch will change our prospects beyond recognition.

The launch date is March 16, 2018. *source: today's RNS