It’s dollars dreadman so divide by 1.3 for sterling equivalent. 8p a share if you round up. For half the company. You couldn’t buy that many shares in the open market for 8p.
If JP has sold it to himself through c4 then he would then be a true AIM legend. And I don’t mean in a good way!
Not a great deal, be interesting to know what the others were! If this is the best deal where is the upside? There must be an element of additional exploration otherwise why bother.
As for C4 and NUOG - would JP dare? that would truly stink.
There is no mention of continued drilling but why retain an interest and talk about potential of the asset if not continuing to drill? Other offers must have been dire.
Exciting times eh?
Current discovery is worth 25p a share to Sou, he's managed sell it for the equivalent of 16p, well done JP! Good job he's such a good dealmaker.
JP has come into his own hasn't he. Making deals is what he's all about. Very underwhelming.
It's ridiculous isn't it Spencer, It's almost as if selling multi million pound assets in a foreign country in a global O&G market is different to selling a semi in Dorking! Come on Parsnips tell us what shop window we are advertised in!
PS they always shout down the sensible ones ;o)
GLA
Looks like Partridge has just blown his interview with Chuckle Gas to replace Crudehope as head of positivity!
Turn my back on this place for a few days and everyone is doom and gloom reading things into Crude's posts when actually nothing has changed as far as I can see. For once SOU are keeping a tight ship and this void is being filled with conspiracy theories and negativity.
GLA
PS5445654 will be that guy at the LE party that corners one poor soul (Hopefully Lost all faith) and talks at them all night whilst ignoring everyone else at the party who is enjoying themselves and having a great time.
Can't wait! 'Have you tried the Spam en Pate I can recommend it' lol!
GLA
JTF at LE I will be donating to my preferred charity 'Help the Humourless' this will consist of spending £20 to buy PS82484 (or whatever) a few pints.
It is a joy to behold the squabbling on this BB after last week's library like atmosphere.
Please make sure your Xmas inspired Spam recipes are at the ready as I think the LE party could be this side of new year. Bah Humbug comes the reply from PS5646564
GLA
Is Malcy actually Exploration? They are both masters of the cut and paste analysis methodology?
Very honoured to finally be filtered by whoever that humourless guy is.
GLA
I should add that both cars are complete write offs, almost £50 worth of damage apparently!
Not sure but he will probably be delayed. Traffic around Sevenoaks is gridlocked. Apparently a Mini Metro rammed into a Mk2 Golf GTI in the M&S carpark and now nothing is moving!
GLA
De-platform anyone whose opinion i disagree with.
lol
Today’s GSA announcement gives us some very useful figures to play with to gauge the true value of what we have. Don’t forget this is only for gas that has already been proven, so we know this is actually there in the ground. None of BM’s bumbling ‘potential tcf’ (or should that be Bumbling BM’s potential tcf?)
Reading the figures and the differing rates the minimum income over the initial 10 years of the agreement is $840m, the GSA is underwritten at £1.4bn HOWEVER at the mid-case production rate for the FDP would give £1.7bn over that period. That is with no additional gas finds, no additional increase in production and MID CASE production levels. That’s just for the first ten years, the GSA rolls over in 5 year periods unless cancelled.
Very positive on second reading, now tell me no one wants to buy this and Crude is going to lose his pension!
GLA
...or comparing Spam with Ham shank ;o)
Audible its hard to value the asset with incomplete data as we only have the income element here. However the fag packet calculation would support the previously (much more accurately) reported figure of approx $250-300m net present value to SOU. So worth about 18p on today's SP.....the SP does not reflect the potential value of the asset because that relies on Our lord JP finding a buyer willing to pay for it
GLA
85 comments by midday isn't bad, last week there were 8 all day on the Wednesday I think. 2 of them were me complaining about you and Trellis not posting and two others were from posters saying they were pleased you weren't posting.
Today is like Westminster compared to last week!
JTF I don't take you for granted. My comment was not meant in a negative way at all . I'm very pleased you are back.
Good to see that Trellis is his normal grumpy self, pouring negativity over this morning’s proceedings and JTF is posting ten to the dozen….I am genuinely pleased to see that normal service has resumed to this BB after the doldrums of last week when the ‘serious investors’ took over.
Trellis you are correct the GSA wouldn’t automatically be transferrable so in reality a finalised version is pretty pointless given our stated plans however today’s progress is key because a) it gives a useful indication that any purchaser could use to value the asset and b) if heaven forbid we do go long it gives us certainty about cashflow and lenders certainty about cashflow for debt servicing.
So whichever way you look at it, progress.
I predict a second RNS this week ;o)
GLA
C'mon who thought it was THE RNS this morning when the news first popped up?
Recommend this message if you did and let's see the numbers. I admit I did
GLA