Member Info for Smythery

Ok, so you don’t have any response. The brass neck you show by insulting the knowledge of others is almost impressive

I might be new, but I know an idiot when I see one. But please do feel free to explain how I misunderstood what you said.

Another day, another new way for Persimmon to embarrass himself. Persimmon - read slowly and carefully and try to keep up.

The reason people are discussing the UK Energy Profits Levy is because of the benefit it will convey on the buyer of Victory, which is a “credible” i.e. large company and therefore very likely has existing taxable uk income. You pointing out that RBD doesn’t have taxable earnings completely misses the point.

The reason Jack mentions 12 months is because the EPL tax on earnings only lasts for 12m, so the the buyer will get the tax benefit of investing in Victory on its other Uk earnings, without having any additional tax levied on its Victory earnings, because there won’t be any within that 12m timeframe. So you gleefully pointing out that Victory won’t see earnings before 2024 earliest is not catching Jack out, it’s precisely the point he was making.

Basically you have somehow managed to completely get the wrong end of the stick two different times in the same thread. You really are an absolute joke.

I don’t see why we can’t get activity at WN this year, indeed fairly soon. We know the site itself well already and planning permission is in place. RBD have had 8 months to analyse data since the EWT along with RPS and someone like Corelabs, and won’t have sat on their hands - they will have used this analysis to inform a comprehensive development plan. Usually this in itself could be enough to attract a buyer, but given the history of WN I’m sure they will want to prove up the RPS work by drilling a well that actually flows before looking to sell down. Why would they not drill soon after confirming the cash inflow from Victory?

It’s been a month since the news of the non-binding offer so the buyer (credible = large, so my bet is Total) should be finishing up their work on Corallian shortly. I think we get a binding offer this week, or next at the latest. This is a bargain entry point.

And not bad for someone who thinks Victory is going to sell for almost nothing, after which any meagre proceeds will be quickly wasted on worthless other projects, all whilst expecting a capital raise any day now (for the last 9 months)…. and yet this prolific poster didn’t exit when shares went above his supposed 0.4p sell price…..

You misunderstand, or are not familiar with such processes - the due diligence on the asset will have been done before the non-binding agreement. What remains is the buyer doing due diligence on the owners of Corallian. There aren't that many, so it won’t take long. But happy to hear your reasoning to the contrary

You always comment on funding and supposed need for a placement. Didn’t have time read that RBD had £4.9m cash at end 2021? Or that funding is in place for key 2022 work programmes?

And Victory news will come by mid June - the buyer’s KYC on Corallian holders shouldn’t take more than a month or so.