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I should have added that I don't think that they'll raise until after they've got those decisions. They seemed confident that they would get them so I'm leaning towards a fund raise at a much higher price.
Hasiba - how do you square the NOMAD's disclaimer with your comment 'I only want to focus on what’s on the RNS which is the official and regulated statement.'
With the disclaimer, it is difficult to argue that the statement is official or regulated.
Hasiba,
given the revelation earlier this year that GR had sold some shares and had not updated the market, I'm inclined to think that there are still some shenanigans going on and that GR doesn't mind seeing the sp fall and rise and rise and fall. The one person that seems to be doing pretty well over the years despite the issues at Prem is GR.
Has he given a satisfactory explanation to the share trading earlier this year yet?
I agree with Biztech, any further headroom has to come with a change in leadership!
Just watched Biztech's video (much appreciated) - not sure that GR will give any worthwhile answers to any of the questions but a very helpful analysis of what GR is up to with regard to the financing. As always, there are some big holes in the info that Prem are providing as has been ably shown. In addition, we don't know what Canmax are going to do, we still don't have a RUS and we don't really know what is happening in the EPO area.
The NOMAD's disclaimer is an issue for me... what is GR up to if he can't/won't get the NOMAD to sign off the RNS's?
Once again, this is all beginning to look dodgy!
My own thoughts are that the price drop was overdone. Tomorrow's presentation should be interesting. Should hear more about the potential for the Ping partnership and, of course, we're still waiting to hear about more licences!!
Acker - my thinking is that today's news is good. I'm not surprised that GR has avoided saying anything about Prem's need for cash. I think he's hoping for a boost in the sp before he goes to the market again... which I think will be soon.
This is his MO.
I'm really not sure what your point is wiseowlspeak... we can all read the RNS.
What's more important is that we've got more licences to hear about. Things are looking very positive here!
For me. this is a long term hold now with much more to come -
'We believe this deal will be transformational for Orcadian. Not only does it set out a clear pathway to production for the Pilot field, but also provides a number of opportunities, which we are excited about, in the wider Western Platform area which this partnership will enable us to grasp.'
Andoman99 - yes, if this wasn't happening then I think ORCA management would know before now. I don't get the impression that the ORCA management are in the business of misleading the market or delaying updates (like some other AIM co's) so I'm of the mind that this is going ahead.
There was no confirmation that the extension wasn't granted (they'd be obliged to tell the market asap) either so one has to assume that it was granted and that it is still going ahead.
Doubt if ORCA would have taken their action if the deal wasn't going to go ahead... and I doubt if the nomad would have allowed this RNS too. Looks like someone at the potential operator hasn't quite got their ducks in a row but must have committed to this within the week.
The nomad would have insisted in adding the caveat that it might not go ahead.