Member Info for SunZoo

i'm expressing my opinions to this board in general, not to anyone in particular. how they are interpreted by individuals is none of my concern

just to clarify my earlier comment, the company has 3 production licences (PL018, PL019 and PL020) that are due to expire
at the end of Oct-20, and they also have an additional licence for the 'Discovery Area'
which expires Jan-22 (2019 Annual Report p.9). The 'Discovery Area' licence relates to Darwin East according to
2016 Annual Report p.7, i'm not sure if Darwin West has since been included in this licence as i can't find any
reference of it. Everything might be fine and dandy behind the scenes but the Board should be keeping
shareholders updated ... oh, all in my opinion of course

i'm surprised there was no mention of the Production Licenses in today's update, given that they are due to expire to expire at the end of October. unless i'm missing something?

i can't see a service company farming in to this tbh. they're not oil producers - its not what they do

there's no doubting the Darwin project has potential, but the company has been unable to secure a farm-in partner since it was discovered over 8 years ago - they must have punted this to everyone that would listen? given the current environment of low oil prices and low capex, why would this change now? indeed, the company alludes to "creative upstream solutions" for funding, which seems a bit concerning

Falklands in general still represents a high risk play for me as there are cheaper alternatives around the world, that don't have a political backdrop either. BOR's cash balance, or lack of it, is cause for some concern. an interesting read for anyone that hasn't seen it https://www.energyvoice.com/oilandgas/259042/oil-exploration-falklands-africa-stranded/

i thought Darwin was dud for the foreseeable future as logistically it's too expensive to develop? hence no farm-in

crude down over 8% on lower demand. FFS

Agreed - but i think it's just the spread widening

Spread is really moving about this morning - could be something, could be nothing

Last post for today - we don't have a great deal of time to find the right option for the reverse takeover; we don't have a significant amount of cash to inject in to the new venture, unlike an investing company with £6m+; and we bring no intrinsic value from the Board/Management, even if the new venture is in the oil and gas sector

the Voluntary Delisting usually means a company's management are looking to regain control and take it private. in that instance i understand why a buy back at a premium is offered to shareholders. look, if there is a reverse take over then its a step into the unknown - we could get lucky and pair up with a great company that offers some return further down the road - that might be appealing to some but for me. what does RMP offer into the bargain other than a bit of cash?

the company would offer to buy back shares at a premium prior to delisting - never come across that before

is it - why would they have to offer a premium to shareholders? the honourable thing to do would be to allow shareholders to vote on either delisting with a view to continuing operations (try not to laugh) or return the existing capital to shareholders

this is true - the shares are dual listed at the moment. i'd expect an announcement on ASX also very shortly clarifying the company's status there too. without knowing any of the details - its hard to imagine that ASX has lower standards than AIM?

if the shares are delisted then theoretically nothing changes in terms of ownership. however, realistically the shares off exchange are illiquid and very difficult to trade. of course the company could opt to delist rather than comply with the Exchange to maintain listing, which would be bad of shareholders. if this occurs then presumably Bandy could continue paying himself until the money runs out or he is voted off the Board

Ok - last post for today. the Exchange is now forcing Bandy to acquire a substantial asset and behave like a proper company ( generate value/revenue). Therefore, Bandy can no longer do this wheeler-dealer bullsh*t that he's been doing for the past 10 years, and remain listed

This is the point i'm making - to a large extent its not really in our hands anymore - Bandy cannot buy a substantial asset with £2m. if we go for the reverse takeover route, which i think is the only viable option, we need a company with substantial assets that is looking to be listed. if this happens then Bandy will have to negotiate what % of the new Company existing RMP shareholders will get, which i suspect wont be very high

Suthy - there's nothing to get excited about. in a reverse take over the Target is the dominant party

the way i see it, Bandy's hand are tied to a certain extent. we can't acquire a substantial asset without funding, which i think is extremely unlikely. therefore, we need a private company that is looking for a listing and essentially RMP gets swallowed up in the process. i definitely don't see this as a position of strength - far from it