Member Info for Sir_Hector

I think you’re probably right about a placing. I suggest it won’t be at the 5p level some have been suggesting

Just looking at the trades that have occurred today and there are really only a handful of any size, most just piddling handfuls for pocket money. I’ll have to set an alarm for first thing Monday and keep my fingers crossed.

No on HL we’re not. It still says I can’t place an order because the stock is suspended. And then on the summary page it has lifted the suspended flag and is reflecting the rise in price. Won’t let me place a buy order either! I suspect those who have managed trades are a limited few. This will be unbuyable on Monday at this price. Chance gone!

I missed it too, having a hair cut. Not that I have much spare cash, I’m pretty much all in on this atm anyway. Wish I’d picked up the alert and topped up if only to allow a bit of troll goading!

I have to say that is a very cogent view of the likely outcome. We don’t want to pander to the ambulance chasers, nor do we want to encourage financial sharks. A fine line down the middle should suffice to keep everyone bar the sharks and ambulance chasers reasonably happy

Fully funded? I’m not sure what that means in reality, but I believe that there is sufficient provision to get the first test rig in place to confirm the gas constituents and flow rates. I suspect beyond that there is limited scope and that GEX will need to raise more working capital until they generate a revenue stream. If they were in dire trouble I think they would be feeding more positive info to try and placate the market. As it is the silence suggests to me that they are looking to make maximum progress during the suspension period so that there is a big news day on resumption of trading. A big hike in SP will make a raise much easier. Look out for an RNS on Monday with news of boots on the ground again and a test drill schedule, possibly more! Opening price will be interesting and we may see it climb quickly as all the watchers try to get on board.

The recovery continues at a steady rate which to me, suggests that the consensus is that this whole situation has been overblown and that the SC will take a pragmatic view. I mean this whole affaire has wiped £0.5bn of market value, halving CBG at £4. That has to be a bit bonkers surely? I’m sure that as long as the level of compensation remains within the scope of existing monies set aside then this will continue to recover to maybe £6 in the foreseeable.

Someone else did suggest that the formatting process wasn’t as straightforward as you’d think. I guess an auditor’s report is intended to be read (although even that isn’t straightforward!) and not archived. I imagine it would need to be structured in a way that enables it to be searched. Who knows? Certainly not me. Anyway, the inference of the post was that it would take several days. So Miker, I think you’re probably right.

With any luck the BoD will provide some sort of statement accompanying the lifting of suspension, outlining next up activities and which are funded and which are not. Clearly the limited funds will only go so far and a revenue stream is a little way off just yet, so some form of raise is inevitable. It will be interesting to see how they intend to go about that.

100% there will need to be a raise. The big question is when! If the initial drill is funded (as many believe) and this does nothing more than confirm the original sampling and geophysics, the SP will shoot up making raising additional fund much easier. If there isn’t sufficient working capital to continue then there will need to be a raise at resumption of trading and that may well be more problematic.

The two exploration permits that have been approved by DEMIRs (but awaiting ministerial rubber stamp) allow a 3000m test drill to take place. This not subject to approval of the well application. This should confirm the geophysics. The well application has been on hold longer than the listing has been in suspension and I doubt the outstanding information is financials related, more likely EMP.

I’ve only ever taken fully funded to mean the preliminary (exploratory drilling) which has approval and not any further drills to greater depths or in different locations. I anticipate that an order has been placed for the rig and crew and that subject to positive initial findings, additional fund will be sought. I can’t point to specific evidence but that is the sense I have gained over the last 6 months or so since the weather delay.

If funding is required sooner, what option to offer existing shareholders first dibs on a small raise when the suspension lifts? I’m not sure how that works but it would seem a reasonable idea.

They have permission for an exploratory drill to 3000m at Hussar-2. And, I anticipate that if this proves the geophysics, there will be adequate justification for a raise to fund the next phase. It might just be that some of the outstanding data requirements for the well permit will be satisfied by this drilling. This initial work will only require a modest, exploratory rig so it is likely already funded. Granted the next phase will need more investment and there is no longer any working capital to support that. If there is a raise on the back of confirmed flow then the SP should jump significantly.

No tension on this board today, the longer nothing happens the twitchier we seem to get. I have every confidence I’ve backed a winner in GEX. I have a good sized holding and would like to buy-in more but am already a little exposed (it’s quite a big chunk of my portfolio). If on lifting of the suspension the SP dips I might have a further dabble but otherwise I’m happy to sit tight. I’ve not missed out and I’ve not put all my eggs in one basket. Either way I sleep well at night.

Nothing this morning, maybe by the end of the week?

Oh please! The company has raised some working capital to explore for gas. If they find gas and can generate a revenue stream the company will see an income and the share holders will be entitled to a dividend. Plus they will see a commensurate increase in the value of their investment. That’s how it works. Yes, at this stage the company is insolvent, it is relying on speculative investment. Also, there is some material uncertainty, they might not find gas! However, we all know it’s there and at some point we’ll all be happy, unlike you most likely!

The full 74 page document is on the Georgina Energy website. Not that there is a great deal of financial information as there is no revenue generation at this stage and so technically the business is insolvent.

I think you are underestimating the ‘pump’. I think that with accounts filed and good news on progress from boots on the ground 10p, will look very cheap. 12p is probably a fair price atm given the state of play and the potential, as it was a while back. However, this has always had the look of a multi-bagger and as each hurdle to achieving that is successfully negotiated the SP will inch up. This will not remain in single figures for long, possibly not even at resumption of trading. If you want this at 5p a pop you’ve missed the boat in my opinion.

No it won’t make any difference, the accounts are public and there are no skeletons. The request for suspension lifting won’t be granted until filing is completed in the correct format however. So a few days yet maybe and time for another snippet of good news to accompany the RNS perhaps?

The suspension might not get lifted immediately, I think the reformatting and submission plus the application to lift the suspension may take a few more days. Not that it matters really. I’m now interested where the next traunch of working capital will come from. I’m not keen to see significant share dilution but recognise that’s an option. Maybe there will be some money up front as part of an off-take agreement. Cash will run short by the autumn I’d imagine, possibly sooner. Thoughts anyone?

The only negative being the fact that the accounts have been published, but not formally lodged because they need to be reformatted. This does suggest a rather 11th hour plus a few minutes situation but I suspect publishing has provided a little leeway with the authorities. Suspension will only lift after AH has applied for it and that will require the correctly formatted submission to have been made.

I suspect we will see another RNS in a few days with some more good news I’d hope too!