Doesn’t look as great as it first sounded, I have it as 10M loan from LOG 21st of feb and then 15M loan (Harvey fund) 13th September with only 3.93M remaining and 30.7M drawn down of the warrants? Dilution to cover salaries, Have I read that right? At the current price of the offer it seems reasonable for 54Mboe reserves but without it a buy out any farm out is going to wipe out IOG anyway.
If the market has any logic this should open at £20 a share but if it is mid teens I have no problem with that, I’m sure I wont be the only one with cash waiting to nail that buy button, low float of shares this will be £20 regardless within hours I think. Then hopefully AA will give us a little divi to bolster the sp.
Just freed up another 10k for this in case we open lower than expected, I will add at any price under £15. After re watching the AA interview talking returning value to shareholders I am now not selling any under £24, he fills me full of confidence.
I would be kicking myself if I had sold today, if this hits oil I will genuinely be gutted for all the pi’s who have lost hard earned cash because of terrible wording and market overreaction. I might be wrong but like I’ve said what’s the point in selling now, mcap is 7M it’s priced in as a duster
I’m not quite sure what you are getting at, I have read the rns properly and the wording states it is commercial, albeit on the lower end of commerciabikity, that is my point have I missed something?
Why is the rmp twitter sounding so positive? It does technically read a commercial discovery so is this just herrendous wording in the rns? Either way I wouldn’t sell at these prices.