Member Info for Smellyben

Should have voted the board our when we had the chance to call an egm - too late now company stolen - no doubt our JV partners will pocket the 270m deferred tax asset along with everything else for a pittance

I'm sorry this got 10 likes - 1 billion pounds - R U serious - I think even the most rose tinted of rose tinted people here could see 100m max maybe if everything and I mean everything goes right -but as we approach Christmas which ends mid Jan in Ethiopia still no news of anything- as always but don't worry it'll be next quarter (again!! )

And 24m us dollars ?

Hi

Where does your figure of 10-12m come from ?

I think you chaps need to google what a Form 8.3 is - its NOT a TR1 and its not a sale announcement!

Its just a statutory declaration of how many shares they have ahead of a takeover - see AIM rules - expect a few more in the next couple of days - sounds like sale will happen next week

No but I can tell you a way to make a small fortune with kefi - start with a large one !

I've heard that phrase nearly every week for the last 5 years - we will see but some of tbe upsides mentioned are just plain stupid - the discount rate on the valuations are at 8/10% but the reality is that it will be around 15% - 20% IF it ever gets signed off and there are multiple fund raises that will be needed before any cash is generated - 1.2p high point if all goes well and slow decline - Harry has alot to answer for with half a million a year salary for a decade

Well if its on track for completion by end of year then we definitely should get an update by end of next week

Ah ok if it's 14 days that grand - would be a lovely Xmas present though

Yep 21 days notice for a public company - presume they will want to do before christmas so about a week !

As at end Sept all was on track

"and I am pleased to say that the process remains firmly on track and the disposal, if completed, would constitute a fundamental change of business pursuant to AIM Rule 15, because the consideration, as currently calculated in the Heads of Terms, will significantly exceed the market cap Consideration Test threshold. "

The horrible thing is the Board are still in Place taking their huge salaries while shareholders and creditors lose fortunes for their failure and incompetence

They said they expect to complete the transaction by year end. As completion Requires shareholder approval which needs around 28 days notice I am hoping for some news in the next 2 weeks personally

What happens to the 260 million pound tax asset

Just out of work - this is nonsense we should call an egm and sack the board (if that's legal) I could sell this company for 50m net after debt FFS

Anyone hear the rumours BP are buying for 20p per share ?

You are right beb hardly any time to accumulate - buy buy buy - £200m company valued at £4m

The deferred tax asset (not recognised) is worth - 66 times the current share price - which any purchaser can use (if that were to happen which is a possibility for sure) so there may be a bit of growth coming !

I've got a significant amount of funds coming next week so hope for good news friday but low reaction

What many newbies ( and I am one) may not be aware of is that this gas company has 260 million pounds of deferred tax assets that it has not recognised due to accounting standards only - real asset Real value - buy buy buy