Member Info for Shakeyourmoney

looking good here..

if it's good enough for him it's good enough for me..

plenty they have a refinery that can handle 3000bopd+..also the oil wells have provision for workovers to be done shortly to increase the bopd which is currently circa 400bopd..JW Hanks was willing to pay $47m for the oil & gas & that deal got rejected, 18p a share for the job lot got rejected 3 months ago & more recently Alco & Gran deal got shown the door as well, so go figure..

The Company is continuing with the process of seeking equity investment from strategic investors or business disposals in order to secure the sustainability of its ethanol business. There is no guarantee that a transaction will be concluded on terms acceptable to the Company, or at all. In the meantime, the Company continuous to work closely with the Senior Lenders to try to secure additional capital for the ongoing operations of its ethanol business, and to obtain certain waivers under the existing senior loans, until a transaction is completed. The Company will provide an update regarding the progress of these ongoing negotiations with its Senior Lenders as appropriate. There is no guarantee that these negotiations will be concluded successfully. Finally, the hydrocarbons operating subsidiary, Maple Gas Corporation del Peru S.R.L., continues to be a profitable business unit, generating steady cash flow and should not be affected by the situation of the ethanol business unit. Reading this would suggest to me that the Ethanol operation is fooked but the oil & gas side is unaffected. So maybe the ethanol plant will get shut down as the debt is attached to it & the oil, gas & refinery will be ok as a going concern, who knows but that's how it looks to me..

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Hi there, yes if you read the report thouroughly there are little snibbets that get overlooked & indeed he has arranged a facility with the bank, how much for we don't know but a small debt is logged in the liabilities on the statement..also i am looking for a re-entry but will only invest £2/3k this time as lost quite a bit last time but in comparison to our peers MSMN etc KEA does look cheap..some cost cutting has been implemented & the gas generators are in operation so we are told..I will not be ramping like last time but keeping a close eye on proceedings as they unfold..

Yes my mistake..the m/cap can't go much lower as it is below income from sales & the bank facility however small does provide another credit line in the companies status..I will be monitoring for an entry point in the coming weeks..

Phase 2 NZ$9m pre agreed cost of work plan for Feb 2015 KEA commitment = NZ$1.5m. MEO commitment 30% of NZ$9m (if not wanting 50% NZ$7.5M) = $2.7 Farmee commitment NZ$4.8m for 20% of the PUKA'S revenue & a share in any new finds from phase 2. KEA has commitment from report for approx £650k of 2D MAUKA & equipment for other licences. Plus £850k for phase 2. 1) In the report it states KEA has used the 'bank facility' on three occasions. 2) In the farmout package for phase 2 it was promised 2 drills with at least one horizontal drill. So would a junior oil company want a slice of the action for exposure to 2 drills & 22bopd for a £2.7m up front cost? Yes I think is the answer, a small oil company would see that as a safe bet for the exposure to 2 drills & a guaranteed 22bopd . There will be dilution for KEA but that is not of too much concern when the m/cap is under £2.5m. It is more of a concern when you've bought in at a higher price. KEA needs about £2m to get through another drilling campaign. Can IRGS magic a deal again? If he can sort a deal out, would it be better to announce it after consolidation or before in anticipation of a fund raise. I think yes he will get a deal organised & now possibly is the time to get back into KEA before the 28th November, because if IRGS announces a new farm-in partner afterwards, the SP will shoot back up as renewed interest will come back. 1) KEA has an agreed bank facility now in use, so risk is reduced for working capital. 2) Phase 2 needs clarifying if going ahead but most KEA investors would be happy with one drill at the minute. If KEA & MEO decide Phase 2 will go ahead as planned & need another farm-in partner who would respond? Well if you ran a small oil company & had cash on the books of £2.7m spare, the question would be is it worth spending that money for exposure to 2 drills @ 20% plus a guaranteed 22bopd or just leave the cash sat in the bank gathering dust? 22 x 360 x £45 = £350k annual income worst case scenario for farm-in partner at current US$70 a barrel crude. One piece of good news & the m/cap should double from here..

take the $47m cash for the oil & gas, shut the fancy head office in Lima & get bloody busy making ethanol..

is stated in the RNS, it is to raise cash..they can't raise cash sub 1p as 1p is the 'nominal' value of the shares & under LSE rules shares cannot be issued below 'nominal' value..

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correction..

If goes below a penny?..it's not far from that now & the income is dropping daily as per the marginal barrel price..I recks he needs about £2m to get to the next phase & get the drill bit turning but people are wise to the BS now & sentiment is far from buzzing about KEA..wonder if one of the ii's that got the nod pre drill results will come to the rescue..will Darwin come back again? 200,000,000 x 1p = £2m..400m shares in issue after that..he could have a monster deal up his sleeve who knows?

matlot, this is not the company to be churning shares for a quick turnaround..will they magic a last minute deal or will they succumb to the The Four Horsemen of the Apocalypse..

Did you get your top-up?

buy half now & half later to be on the safeside..there will be a placing maybe wait till then?

your position will stay the same until he dilutes, if he can only dilute 30% on consolidation then base your decisions on your long term approach..ie when is it best value to buy? the indicator for me is when the m/cap is on it's knees..should IRGS allow himself any more bad decisions? Because if he does, then his company will keep getting laughed at.. Worth remembering the quote from weeks ago, crushingly horrific, expensive & disappointing scenario..

Hi, yes 2 posts removed from the weekend..!?!..whatever..anyways if your hanging on, now would be a good time to average down £2,800 for a million shares..real shakedown going on here mate facebook pages that have never existed & other scallywag behaviour involving cheeky litigation claims & shady afternoon walks round Soho..haha

So just to reiterate what I mentioned yesterday, will IRGS commit to 2 drills or just the one..as at the moment far too little EFFORT for the amount of investment that's being applied or indeed has been applied to this company..removing post's highlights only one thing..

FTE..is cheap today, KEA looks cheap too but super risky haha..