Member Info for SunZoo

i suspect the reason for giving up the Perth Basin was because it wouldn't have been enough to satisfy the AIM listing on its own - that's just my guess btw. from google: "a reverse takeover on AIM is an acquisition by an AIM company of a target company (or assets) that is bigger than it or that will change the fundamental nature of the AIM company"

Its not as simple as Bandy doing one of his deals i'm afraid. as i understand, we have to find a target (private company) that wants a stock exchange listing (and will therefore avoid the need for IPO and initial listing costs). how big a slice of the new enlarged company goes to existing RMP shareholders is somewhat concerning, for me at least

a reverse takeover would suggest acquiring a private company, not necessarily in the oil and gas sector. however, what can we realistically pick up for about £2m?

he only needs to raise £6m if we elect to become an investment company - which i'm sure isn't a realistic option

i'm ok with that. this does feel like last chance saloon - Bandy has 6months to do something otherwise it would appear to be all over. jeez

Okkk - we're now a cash shell ....

Agreed. i think most have wised up to it by now. thank goodness

trading volume is too low to be any kind of leak - looks like MM are making a few quid before the weekend (just my opinion of course)

hmmm, i can't see many positives at the moment. i'm not going to cut Bandy any slack for preserving the balance sheet, surely that's the least he should be doing? the company has no assets other than £2.5m in the bank, and its certainly peed away a lot more than that over the years. in my opinion we're heading for the same old format: buy into a "world class asset" (oh, but it isn't really) followed by the inevitable capital raise. i just get the sense Bandy doesn't know what he's doing - what is the strategy, how is it going to be executed, how is he still in a job?

i just think the company wasn't performing that well prior to covid-19. some modest recent growth but nothing spectacular. put it this way, they've got a lot of work to do to get the share price back above 50p especially with the backdrop of general economic uncertainty

could be below 10p by then ...

Pull something out??? i might have a bit more confidence if Bandy's track record over the last decade wasn't so abysmal

Good to see the share price ticking up a bit, hopefully we'll gather some momentum from here. Convinced there is more news to come ... but still waiting

no fireworks today then

Interesting ... they're also in the lending game, and just rocked up and bought 20% of the company in one hit. i can't imagine they've done that just to be an investor?

the purchaser will need to be disclosed soon enough - feels like something has to be going on in the background. but then again the share price isn't going silly and this is 1pm after all. wait and see i suppose

that's about 20% of shares in issue ... take over anyone??

erm, no. the drilling season in alaska is basically the winter so it will be something like Dec-Mar. therefore, going by the update the earliest we can expect to start drilling is Dec-20. on reflection it probably makes sense to take a year or so to evaluate all the data, but it would appear nothing is happening here any time soon, unless of course there is another project in the pipeline and the inevitable fund raise

"This will allow sufficient time for the JV to complete all required technical and evaluation work prior to the 2020/2021 drilling season" … so no Winx 2 drill early next year then - that made my day

My immediate reaction this morning was that the fall in share price was overdone but on reflection I'm not so sure. the business appears to be ticking over - some organic growth etc but 2% increase in earnings per share is a bit of a red flag. also the last few years the company embarked on a period of acquisitions and consolidation - and as an investor I was expecting to start seeing the rewards of this labour. however, the announcement ends outlining the long term project (another 5 years??) and the inevitable costs (more dilution?) involved. I believe it's this outlook that has battered the share price today. hopefully tomorrow will be better