Member Info for Suthy

Nice buy over a million ...

I believe it's $200k, i.e £80k as stated earlier. RMP has made me good money in the past, it is all about timing. I am not a big fan of Greg Bandy but he is running a company with good cash reserves and low share circulation so yes i have the hots for RMP not the CEO lol

Absolutely he is a survivor. He does not give a toss about us, but there will be another drill as it is in his best interests. He has cash and low share circulation so the formula is good.

Not too concerned about the $150k spent on project. But agreed I am much more interesting In why he changed his mind and am hoping he has seen something else

Good point, I just checked their website out. They still own 31% interest I believe

It is a fact that the market has changed since COVID 19 and for companies like RMP with $4.7m in the bank there will be lots of options. $500k entry price is a lot of money in this market.

Let’s see what he brings to the table. Lots of trolls always a great sign:)

I have looked at your posting history. You need help.

This RNS is very interesting , i really do believe he has had a look at some much better offerings in the market. I am completely fine with the decision if that is the case. This proposal was made well before all the COVID 19 stuff. As CEO i would expect him to get the best deal he can. With the funds RMP have he will have some good ones to review. I agree with the post made earlier , a distressed producing asset would be a game changer.

It would have cost them $500k to enter this project,,,, they must have thought with all the bargains around right now it was not value for money. All they paid was $150k. No harm done as long as they pull out a much better bargain..

They must have their eye on something else, given the bargains out there right now.

He has obviously seen something else...we will soon find out

Maybe, but look at the historic movement of this share. There are barely 180m in circulation ( outside of top 20 holders).
It two bagged on just this news in December 19. A lot of aim shares are diluted to hell but this one has not and has good bank balance . The play also looks like a good one,,,,Love it or hate it, it does move. Not everyone’s cup of tea, but it is mine.

Must be very close now. Looking at the other permits, within next two weeks seems very likely.
I expect this to move to around 2p ish and then according to the RNS RMP have up to 15 days to formalise the agreement at which point this will spike up then may retrace back. At this point it is then game on. I really like the look of this play and they seem to be doing their homework as well. Interesting times ahead....

Agreed, news looks close. RMP also have circa $4.7m in the bank so at these levels we are valued at cash. Shares in circulation are also very low which is a huge plus when things get moving.

Thanks vicjain, it was Joint Authority before the offer and it has gone back to Joint Authority after the offer . Which I think means that the offer went out to Key Petroleum and Pilot Energy to accept the offer and the for final approval by the Joint Authority.

That’s how I see it, but not entirely sure. If I am right then yes it could be very close

I am not an expert, but looking at the NOPTA update, it has gone past the offer stage and back to the Joint Authority for decision, which I think is the final stage before approval

Can anyone confirm whether I have got this right?

Yes I saw the two very tiny trades as well... very odd
The permit news could drop anytime now . I agree the MM’s are keeping this very tight and will release it soon. With the low number of shares in circulation the brakes will fly of with good news.

The Truth- I would say now that there is an offer, the chances of approval are quite good.

Swify- There will probably be dilution at some point. But historically he has never diluted at this level, it will probably be around 2p or 3p. Generally the dilution level is quite reasonable, hence why there are only 550m shares altogether and a good proportion of that is already taken by significant shareholders.
I also like this play a lot, it looks like a very good deal for Red Emperor. Let’s hope for a good day tomorrow

License granted maybe a little more, I would say 2p ish as this would mean a drill is now coming on and not May shares in circulation
No licence is around 0.35/0.4pish as this is roughly cash value with 4.7m dollars in the bank and very minimal overheads.
Due to low number of available shares I expect any drop will be corrected quickly.
If you look at the RNS they are also looking for other opportunities.