RE: ATM7 May 2026 09:15
The facility was required to get the gas license offered.
The turn of events was pretty clear to see.
Back and forth with policy with government / NSTA for ages until the government finally had sense and created TECS.
Finally, when all I’s were dotted and T’s crossed, as per the initial application, EPP needed to fulfill certain obligations to be awarded the license.
Clearly one of those was demonstrable finance, so it took out the CLN and had the ATM deal done.
It also drew down one tranche or the ARM deal.
It put aside funds that were required to meet obligations of the grant of the license.
And almost immediately after that, and 5 months after the application, the license offered arrives….
Those knocking the finance deal would should note that the share price when it was done was around 5.8p and instead of placing at 5.8p or lower, what has effectively happened is those shares (almost certainly done now) have been sold around 8.75-9p+
So it’s a smart move, a very smart move and yet idiots still talk about int he same way as a YA death spiral!
The company will get additional large backing very soon, aside from the CAES cap and floor aspects, there is gas to be extracted from the North Sea and sold now, which will get partnered and off-takes etc to help build out that, which should still be targeted to produce first gas in 2028.
If this was a pure oiler looking for gas, and had been given a PSC, it would have shot up significantly.
The fact that a bunch of the posters here can’t even fathom the big picture of what’s developing, and the significance of both CAES and the Gas side of the business both independently being company making projects isn’t surprising.
Lse is full of trolls ans we clearly have a couple here. Forubtalty it sounds like they aren’t invested (unless short) so they can keep trolling all they like, and miss out on the very likely large gains that are coming here.
Let this play out over the next days, weeks and months ahead and the tie ups / investment and further partnerships that come ok board will do all the talking that’s required.
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