Member Info for Simon_Said

Market is very sleepy today across all shares. Seems to happen after lively days like yesterday, which again saw big volumes across the market. Interesting how these things move, there are lots of theories about overall market dynamics but nobody has ever really cracked it.

Yep and now that the placing shares have been issued and the company has �7.75m of new money (plus a few million it still had on-book from the previous raise), those 'fireworks' are due any day now. It'll be breathless breakfasts for the next few weeks waiting to see what they're buying!

(Sachin didn't arrive till the very end so I didn't get a chance to speak to him)

Seems our little unknown share is finally getting exposure and I see lots of new names appearing here. Hello to everybody who has just bought in! H2 of this year is lining up to be absolutely bonkers here with 5-10 drills (!!!) by the time the new deals are all inked. I attended today's GM and have no special information other than that I felt very reassured that we're in safe hands, and there was a real excitement about Stephen's manner. They're very keen to get this rolling.

No way, it's only for �13k.

Bournemouth and any other local council have no jurisdiction as this is an offshore drill. This is very publicly known information but trolls like Sharon don't read anything. The matter is with the OGA and other relevant agencies, and to-date things are proceeding just fine. I was at the GM this morning and confirmed as much with Stephen Williams (very polite and enthusiastic chap too). All going to plan thus far. The drill date depends on the speed of the administrative matters currently processing, and will be either April/May or September, to avoid the tourist season. Important to remember that H2 this year also includes Wick and the first Parta drill, and will include more drills from the new deals that will be announced imminently using the �7.75m from the placing. All those crowing on about 'dilution' are merely showing their naivet� with regard to how small cap companies raise money. It's no different to an IPO in that regard - dilution to build the business - and it is not harmful to shareholders if the cash is used acquisitively. If the pie grows larger, then having a smaller proportional slice doesn't mean you've lost out. On the contrary, if the assets they buy carry large NPVs and low risk, then the placing ends up a very profitable exercise for shareholders. Back to Investopedia for some!

I suspect they will not want the new shares hitting the market without accompanying news of what the money is being used to acquire. Excited to see what they've got!

Agreed Miker. RNS today to say resolutions passed, then from tomorrow onwards a slew of new asset deals with the new money. They aren't placing for beer money! Can't wait to see the new investments confirmed.

Reabold at 8m45s 'Should see some fireworks here'

The 'instant production' claim was for a new asset, not Colter, and the rumour is there'll be something ready to go or already producing. As for '5 years' and all that garbage - A) Absolutely untrue that it takes 5 years or anything like it to begin production from a new oil discovery. B) The Reabold business model isn't even about that - the new rumoured asset aside, the general idea is to buy at appraisal stage, hold through proof of concept/initial flows, then sell the stake as a more desirable asset for more money. Not to hold them all the way to production. I am genuinely amazed I still have to explain this stuff. They've been saying it in interviews since the new CEO's were appointed.

Additionally, when they exercise these options, they pay in cash which goes in the coffers. Not a zero sum game. Options are preferable to giant salaries.

And of course the options are pointless if the SP only reaches the exercise price. It has to comfortably exceed it for it to be profitable for a director to exercise those options (i.e. pay the exercise price regardless of SP at that time).

Sorry not 'tax deadline' - ISA deadline!

Probably a 'bed and ISA' given the tax deadline approaches. Still shows the size of some of the investors here!!

It entirely depends on what the new capital is deployed for! If they get some amazing bargains on deals that generate near-term cash and exposure to desirable assets, the combined NPVs for them may drag the SP higher. Who knows! Buying shares here is a bet on the CEOs' ability to find good deals and move at the right moment. The more I read about them, the more I'm inclined to take that bet.

I see one LRGS trade for 1.3m at .63. Nothing major. Spread is super tight so hard to tell what is a buy and what is a sell today, but looking at the ticker movement it seems roughly equal. No great drama. The fireworks will come when they start announcing the new deals the placing capital will be used for. That will be imminent as the GM is on Monday (will be in attendance).

You meant to post that elsewhere, I'm guessing!

Very interesting interview. So it seems that lots of deals are incoming, and a slight change of strategy. The existing model to buy stakes in companies close to big drills ('stranded' by cashflow) and sell once producing still stands. But according to this morning's interview, they're also going to have some assets held for 'long term, stable cashflow'. I'm pleased with this development. It looks like the business model has been accelerated somewhat, hence the recent raise. The company will look very different in a few weeks/months time as the new deals are revealed.

And according to this morning's CEO interview, we're about to enter a news-rich period. Very excited for all the upcoming RNS's with the new deals.

This is great research, thank you!