Member Info for TheBuffoon

Surely it’s from today. He comments on Echo trading. Damn, I’ve got the morning off tomorrow... Buffy

I think we should take a slightly longer term view. AK is very strategic, and ASMA are a powerful, influential group. None of us are businessman of a size where strategic investors are a great asset, but surely we can appreciate situations where they might be of great benefit. Buffy

I was also expecting the price to be declared.....and still am! Buffy

Totalnew, I was e petting a price to be declared, as is usually the case. It did say in the RNS: “The Placing Price and details of the results of the Placing will be announced as soon as practicable after the close of the Bookbuild” Buffy

Maybe we should have agreed the £310m now (subject to an EGM) rather than give ASMA a free £60m option. Then again, who knows what was discussed with AK. I assume he’s putting in £0.5m of ‘his own’ money. Buffy

‘It surely has to be announced befor we relist tomorrow. Hold on.....surely not...’ there must be another e in befor.... Hope you have a good Xmas Jim. Buffy

Diversified, It does seem rather strange that this deal was agreed on the first or second day of the book build. I really don’t think that it would be that difficult to establish and report the price. Nothing is straightforward with Andrew Knott. People submit how much they want to fund and at what price. Unless we were going to accept a single institution for the lot, I don’t see why the slightly smaller amount available should make a difference. I guess it is of benefit to raise the extra money, although they have a £60m option at the raise price. Surely drilling success would see us able to easily raise more money at a much higher price. I’m not as excited as some by today’s announcement, although the $250m raise was excellent news in itself. When will the raise price be announced? It surely has to be announced befor we relist tomorrow. Hold on.....surely not... Buffy

Have I missed it? What price have we raised the money at? Buffy

Have I missed it? What price have we raised the money at? Buffy

P.S. Juste, to help you out.... Institutional bookbuilding for the Placing (the "Bookbuild") will commence today and is expected to close on 15 December 2017 at 5 p.m. (London time); Maybe you understand now? Buffy

You can be as sick as you like Juste, but I’m telling you for a fact that it will be fully subscribed. I rarely post such things, but on this occasion I can tell you it’s a fact. Maybe you are a little too naive to understand. Note, I’m not stating a price. Buffy

Juste, the placing will be fully subscribed. The only unknown is the price. Buffy

Indeed Scarface. Furthermore, we are information gathering. It’s not just about today, it’s about ‘tomorrow’. If people don’t understand the difference in producing from a well with multi-Darcy permeability and what we have at Dempsey, then they would do themselves a favour by not investing in O&G. We are trying to minimise the amount of information in the public domain. The space between the lines in the RNS are so big, it’s really not difficult to read between them. I wish I had more spare cash to top up. This sort of opportunity is not that common. Sure there’ll be a raise, but at a much higher SP than we have now. I’d sell my granny to raise the money, if only she hadn’t been cremated. Buffy

Coop, A bit early to talk about RBL when we haven’t even drilled the asset! Buffy

Absolutely Rivaldo. I think this will be a jam tomorrow stock for a few years yet. Buffy

I'd snap someone's hand off for 25p. Clearly 43p is fantasy land. Bidders are only in it to make as much money as they can. Why would they bid 43p. Lol.

"SP at present circa 7p but with a takeover by Repsol anything goes and I'm still suggesting the SP to go to 42p." You think Repsol would pay £69m to acquire EDG?

"Longer term we have lower swaps in 2016, still higher than the current $80 so we won't lose out still." I was only aware of 8,000 odd barrels currently being hedged in 2016 "The company was sensible in taking swaps" This was a condition of the Apollo deal. Regardless, I glad they did...for now. :^}

From memory, the forward work programme (shown on page 40) is exactly the same one as shown in the August presentation (shown on page 38). Inexplicably, people were jumping on board expecting to hear farm out news, which was never going to be announced at the AGM! Buffy

Belgrano, I seem to recall that a company pays a lump sum of something like £5,000 per annum, and therefore do not pay per RNS. Buffy