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And then the sells come just as we start to gain momentum ffs

It also appears NT again, seems they don’t really want to be giving shares away hence the jump on ask (if accurate what I’m seeing my end), on each buy.

Let’s hope so strongman :-) they must be within the zones now, if they aren’t they need shooting quite frankly! It must be said, if something doesn’t land today I may well de risk a part as it’s making me nervous! Be my luck at that point however we would hit streams of the black stuff!

Strongman don’t they have 3 days? But then this is AIM so it could be anything! 7.60p now being paid so looks like a nice movement upwards, news maybe sooner than later

Jay, I tend to disagree Sefton needs to redeem himself so if I was him I would be getting an oil one out at the earliest opportunity to pasify investors, that’s the one everyone is waiting for and the longer he delays the more critisim and people selling with jam tomorrow

Can’t buy anything at all on Halifax not even £500 worth

NT to buy

Begger yes mate, it’s the best option as long as they don’t pledge shares. Simple senior debt with interest is far more attractive imo

Nolosstillsell, not at all mate. Just trying to get my head around the RNS, and what the options are. It’s not about scaremongering at all, but there are very clear points in the RNS, which can not be overlooked and get carried away with, just as simple as that, research that’s all I’m doing mate and throwing open thoughts out for discussion. It’s all guess work until the final funding terms are agreed in the new year. Good luck

Steadygrowth, I totally agree, but I think many have lost faith in Sefton and feel it’s another jam tomorrow followed by excuses. Sefton doesn’t help himself at times, his communication has been great but he also gets far too excited and gives too much away leading to disappointment when something beyond his control ie weather interferes with his plans. He’s better dulling things down as it just fuels criticism. I would be amazed if they haven’t hit R1/2 yesterday

That’s if they are happy after the DD, I will keep my powder dry. I’ve dealt with a lot of senior debt financing in my own company, and until it’s signed nothing is agreed. The funder may still decline after DD. Remember, it’s indicative terms NOT an agreement.

The loan would be secured with a first lien on the Company's Georgia assets or a pledge of shares of the Company subsidiary that holds such assets, subject to definitive agreements. I see that as the lender taking a “first charge over the assets” OR shares. Can’t see a default position. But all will become clear I’m sure. Odd way I must say to have a share issue option. I do like the 5 year plan however which means they must be confident of the 5 year forecasts

There is an option for a “pledge of shares” according to the RNS, so dilution maybe an option? No?

Begger, agree but let’s remeber it’s not “secured” at this stage, it’s effectively heads of terms pending DD, and agreement of terms. (Not saying that in a critical way btw!). I think much more news may well flow over the coming weeks

For those that went to the investor meeting, was the mentioned at all? As I’m fairly sure this would have been being discussed with lenders at the time of the meeting? Fully appreciate it’s always a moving target but I hope (and I’m sure it’s not) a zaza classic of selective PI communication at these meetings. If the major has gone we may have EWT rates soon, so next couple of weeks may reveal all. It only a glorified heads of terms at this stage and no guarantee, plus could lead to shares being issued which would no doubt sent a lot of PIs out of frr. All feels rather smoke and mirrors to me but happy to sit and wait

Let’s hope we don’t see dilution fingers crossed 🤞🏻

Added to which we still don’t have clarity on BH terms? No?

Johnny in part I agree but it’s the part that says “The loan would be secured with a first lien on the Company's Georgia assets or a pledge of shares” concerns me as I read this as there being the possibility of yet more shares being issued once terms are agreed. Also why are the major not funding part of the wells, similar to what AMER has done? Thoughts appreciated

If you read the RNS they can still issue shares so appears may be dilution yet once DD done and terms agreed

So what’s happening to BH terms of engagement and the other major? Surely is both were positive we wouldn’t need the loan (similar to Amer)?