Member Info for sankeys

I keep looking at the map and try to contain myself, we are so processed to expecting the norm we find it hard to believe the dream scenario, but after just watching Ben Stokes innings taking me back to another hot day in 1981 and today i am in the mood to believe. Why not 1 billion resource to Eco when just " Greater Jethro " could be 200m to us alone.

The ratio to use is EBITDA - capex. With the sale of Zama I don't think there will be any issue with refinance with oil above $60. It's Sea Lion, getting a farm in partner and the fine detail of the lending needed. From 2020 I'm almost tempted to put funds into RKH as they will really move on development.

Hello BBN,
They are not selling the warrants, sorry I should have been clearer. Let’s say I have 450,000 shares, I participate in the offer and with it I receive 450,000 warrants at circa 40,47,57.
My original shares have all the risk like PIs, however my warrants are risk free for the 3 drills as I don’t have to take them.
I look to make 10% uplift for on my shares compared to the warrant strike price. So currently am looking at 52p and over for my 47/8p ones( which is happening now) later I buy my warrants and pocket the change or just keep the 10% and don’t excise if the drills aren’t successful.
I take no risk but all the upside as if the SP is 150p after drill 3, I still buy my shares back for 47p.
I would guess that all the players from the offer have a similar strategy if they had existing shares.
We can see today that when the bid goes over 52 we get a lot of sell orders pushed through.
Once it stops There’s a quick 20% to be made in my eyes. I am a holder here but also want to gain from this additional trade.
Good luck!!

I’d say first week of Sept for some news, but Zen tends to be leaky so price action next week could be fun.

Lol, their exclusive copy taken off this board....although if they are writing articles from this bb did I mention the £7 takeover....

Lombard have sold circa 1.9m shares since the offer, their first two tranches or warrants at 40 and 47 total 2m shares, so if they are just forward selling warrants then they probably finished yesterday. Or they may sell the last placing shares which is another 2m. Miton if they have continued to sell out would probably have around 1/2m left. If we assume that 40p warrants out of the 8m have been flipped already, and perhaps there’s maybe 2m more of the 47p warrants still to be forward sold.
Potentially then at the low end only around 3m shares to finish the overhang and at max 6m. Until of course the SP hit 60p plus and iis can flip the 57p warrants.
Hopefully the run into results and a successful pilot test will clear any remaining.

iis selling, otherwise this would be .70/80p now.
I’m guessing Lombard are flipping shares to buy the warrants? Those warrants are going to have an effect on the SP.,

There will be a few tree shakes and in the quest for shares, more so for those with spreads and stop losses, no coincidence it hit just below a key fib level.

Well I got my 22p, 3 days late. Lets start September by hitting the 28p placing price.

All positive, selling Zama is a good move, hopefully they may have a buyer, although do they need to complete unitisation first?
More detail will on Sealion financing needed as it say still to be agreed - devils in the detail, I remember the ‘ no material dillution’ on the refinance. Perhaps Zama sale cash could be used to help Sealion phase 1?

There is a large buyer/s. After the result the SP was moved downwards to flush out shares as investors protected profit and traders moved with fib levels etc. Once those avenues had been extinguished they have each day pushed the SP significantly higher to increase sells. We would all be liars if we haven’t thought about top slicing or selling with 100% plus gains, many may have done so. Each 10p rise makes us question more.
However who ever is buying at 150p isn’t doing so to make a loss, we have a current broker putting a value of $500m on 15%, no doubt we need Joe to hit to keep this momentum, but if that exceeds expectations???

The company concern is the near 25% stock on loan, far higher than any of its peers. These iis know more than us, they are not always right and they are not shorting against current fundamentals which are positive. I don’t buy a macro short on oil or the economy, it’s PMO specific.
At a guess it’s either they expect equity to take a hit with refinancing next year or the Sea Lion finance will market include equity dilution and/or warrants.

Mafia has a certain kudos thou. I like you have a surname of Jones, so the only thing I ever got linked to was sheep...

As a holder of I3e I am biased to its prospects, the first drill is a pilot well for 2020 production, the 2P is already there, but the second well to appraise the greater area if successful should double the SP. The third well is explo but directly adjacent to a producer.
There has been a seller but as we saw with Eco at 68p pre results the market these days wants hard news before any upside given.

Bots, don’t be such a plank, private investors need to vent off a bit of steam now and again. Aim CEOs are like football managers - hero to zero in 5 mins but they know the risks when they come to the market asking for millions of pounds.
ACs performance has been poor, for those of us round since the IPO days this company has done more placings than increased bopd
The good thing on this drill is he has to deliver - or his equity and salary will be up the ****ter

I bought more today also. I’d say best upside/risk share at present and would be surprised if this is not 30p plus by Xmas, and not surprised at 50p plus.
Lots of risk free news flow to come.

I’m 10% down after being in for a week! Zen never fails to recreate the word bottom.

1.58 is still way short of fair value. How often do you get an Aim company sitting alongside Exxon, Total etc sharing a multi billion oil reserve with umpteen more prospects to prove up? Answer - never.
There is no way Eco will have to worry about production.

176p is poor research.

130p target for spud already hit and with a 20 day drill there are is a very small window to take positions. Short trading week for bank holiday and news anytime in September.