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They could call debt in for any number of reason, including a direct intention to seize the business to ensure it works only to pay debt, so there would be no future benefits/growth to share with shareholders

I know initially they were not supportive of this deal but after holding the company to ransom for 80m new shares to close a big percentage of their short in exchange for backing the deal surely they couldn’t just turn around now and not support the refinancing?
They have crippled the share price as I see it, they called for more equity to be issued to pay down more debt which derisks it for them, that dilution is what has hammered the share price, how would it be legal for them to turn around now and say actually we want to call in the debt?

If creditors were to call in the debt why would they Take on assets unless they believe they can cover the debt? Surely they will take more equity but leave the debt in the hands of the company? I’m not very clued up with corporate finance tbh so genuine questions, I just don’t see why they would call the debt in? They won’t want anything to do with assets etc imo.

Also if this was the plan to strangle us into submission why would they close such a large percentage of their short? I know we paid for it but it’s still another large long position they have an incentive to grow.

If my life ever got that empty I spent my days on BB’s I have no interest in to rub Investors faces in their losing positions, I think it’s time I would call it a day.

Sad really.

Just had a quite look on shell BB and learned shells net debt is 87Billion!? And we get slaughtered about survival? At least we can drop an asset(hopefully) and cover very large percentage of that debt and restructure from there.

Before the drop.

I did, and I put it in here....

Media killing everything with their constant scare story’s about an overhyped virus. You watch the news and they just twist everything to be negative even if someone’s on trying to be upbeat. The media are killing the economy, not the virus.

I think today will be the day we climb, mms price action seems to be squeezing a few out early.

Oil climbing nicely again

Sounds like chysaor are waiting for the debt restructuring to be arranged, dilution out the way, and they are going to swoop in for the buy imo.

Iraq need to repay their oversupply with cuts starting ending of this month don’t they? $50 oil coming sooner than you think?

Prince Abdulaziz said that he’ll make anyone who “gambles” on oil markets regret it #OOTT #opec

Hmmm wonder what the plan is

Had an email back from the FCA with regards to the short.

In short, they didn’t even read my email properly, attached a link on short positions and then said seak advice from citizens advice. What a ****ing joke they are.

Didn’t realise there’s an opec meeting today,starting soon

Love watching oil climb like this, pmo needs to play catch up though

Something just gave oil a kick up the arse aswell

MMS seem to be dropping this every now and then for shares, strange price action here, will be interesting to see after hour trades

Level with open that is, not TLW

I think we will close about level tonight

Absolutely, it’s one thing after another.