Secret, well we don't know just yet how well things have gone and when they will be producing gas. Given they are still pressure testing there is quite a lot to do. I would be surprised if gas is produced ahead of Mandelas birthday and August is always a possibilty - we shall see.
You have to wonder about these guys - the integrity test should have been completed hydrostatically at say 1.5 times the max operating pressure, with 'tightness tests' as a follow on with say nitrogen. My guess is the photographer has labelled this up incorrectly .
RE: Administration can lead to a better place than a 16p exit yesterday30 Jun 2022 13:49
From Google; Corporate Finance Institute Covenant Breaches When a loan covenant is violated, it’s often referred to as a covenant breach.
Since loan covenants are part of the credit agreement between a borrower and a lender, a covenant breach is considered an event of debt default. These can be financial defaults (like a delinquent payment) or technical defaults (like late reporting) So it seems to be a slam dunk to me the BOD have failed to update the market in a timely manner about a material matter and all PI's have a claim against them imv.
RE: How many shares does Merck hold of 4d?30 Jun 2022 09:05
Fort, they stand to lose £1m if the shares fall to zero. However they stand to lose much more if the drug development stops when it was destined for success and therefore imv saving the programme is where they will focus their attention and cash. Would you want to have an important piece of your business in the hands of this BOD going forward ? Is survival of DDDD as an entity an attractive proposition to them?
RE: RNSTranslator sharpened his pencil today...29 Jun 2022 16:45
cop27 - I wish they would explain how it is the sea level is the same now as it was during the mini ice age when the thames froze, or how it is the polat bears survived the warm period in the early middle ages when wheay was grown in iceland and greenland. I also wish they would explain why they all ignore water vapour which is a more powerful greenhouse gas than carbon dioxide , as we are switching to hydrogen. Probably explaining those issues would be akward when so many political careers and so much political capital has been invested in the great god of carbon induced climate change. Did the vikings call him woden?
RE: Is 4D hiding new of a successful treatment trial?29 Jun 2022 09:39
Failing to disclose information to shareholders in a timely manner breaks listing rules. Has that happened here wrt breeeching covenants? Has it happened here wrt the sec filings disclosing more info to the US investors than UK investors?
Back in January , to the annoyance of many on here I said' if all goes well they could be producing gas in July' and given today's RNS i think I should clarify that I am not in fact GL. I am beginning to think it will be the back end of July however.
Ian, I think the ceo is thinking along similar lines to yourself and as a consequence has decided to grow other companies and spin them off as a means of extracting value - simply because Argentina is a hopeless location [ UK going same way perhaps]. I am staying the course as the improvements in domestic oil prices will means more profits in any event.