Member Info for TradingLad

I can't buy £1000 worth but can sell as many as I like... suppose that's a positive but I'm not happy about it

I think when it comes to takeovers there are 2 options

1) A non-hostile takeover requires consent from the board, i.e. you buy x amount of shares on the market then go to the board and try and offer them a price for the outstanding shares, this is the normal practice when there are MAJOR shareholders.

2) A hostile takeover where you hoover up as much shares as possible from the open market make a bid, have it rejected and then just carry on buying the shares on the open market and take the company at the next AGM.

happy to be corrected on this...

you'd be quite miffed if you let those warrants expire last friday only to get that news yesterday wouldn't you?

I've taken a small nibble at another 3,876 shares. For totally selfish reasons I do hope this drops back a little over the next few days and I'll have a few more nibbles.

T54, RBD but that is an absolute dog haha - unless of course they get the planning permission and can make the oil discovery flow then it might be something special but I'd stay here for now, but even then I think it might be small potatoes compared to 1.5bn potential barrels

HFB, I was just being facetious to see if I could annoy anyone :) which is half the fun on these bulletin boards :D

I don't think we'll see any major dumps from people now but you just never know in this company

TR-1 will read:

Previous position - 7.8%
New Position - 0%

gone fishin'

;)

Stas20, well done on throwing out an equal amount of speculation to myself :D

BD1, as a process engineer, whenever I hear the phrase "all we have to do..." I generally know I'm in for a phucking **** few months of overtime that I don't want to do hahaha!

but you are correct get a couple flowing and we're laughing.

production on this new find*

I also have to agree with CawCaw to an extent, make no mistake he's not entirely wrong but not completely right either as there is still massive amount of speculation in play, this is opinion not fact until it goes into production.

This was the sentence that to me says there will 100% be a raise:

"We will use internal resources to cover the initial costs of development whilst full field development plans are evaluated".

I don't see the upside in selling any WI until we have got an idea of production figures but that is best case scenario, management will want this online ASAP so that will mean outside investment and fast, will he have the balls to raise £100m through a share issue, surely phucking not!! Fortunately, the find is onshore so that makes the recovery cost about a tenth of what they are offshore and if they're doing this on a phased approach they will be bringing each well online and using the funds to bring the next one on, the danger of doing it this way is that if you hit a duster i.e. doesn't flow it impacts the timeline of doing the next well.

I'm massively optimistic for this company but lets be real it is months away from production.

The re-rate is a little bit off in my opinion, what we got this morning was essentially a taster of what's to come. We will see another leg up once the drilling permits are granted, which in the states is really just a formality, then we will get the flow test results giving us another leg up, and finally, go into production and let the flow rate balance out, imo this can all be achieved on well number 1 within 8-12weeks, this could happen faster of course but 12weeks isn't a long time to wait for a teabagging sorry multibagging. I don't think the way the market is just now that this will hit the heights that it did on re-list purely because a lot of people still want to see Art make good on his promises first. There will also be a lot of people wanting out of this on the way up because let's face it if you bought at 16p 100% profit in a couple of weeks isn't a bad deal.

I fully expect to be wrong on most of what I've assumed in this post and if you've read this far you'll probably want to comment some nonsense back, which I probably won't read if it's more that a line long.

TL

£10 says this finishes red knowing this share :P

Great RNS and should make this very profitable in 2022.

I still don't think AM is the man to be in charge here, but if he can drop a couple more bombshell RNSs like this he'll have my backing... I'm very fickle like that.

Premier Oil was suspended when it purchased E.On's assets and it was an acquisition so don't be too sure it won't suspend.

for an update on production... unless Art is manipulating the share price to stay low... surely not

DB, I figured it out... he's an arse

BB2... not sure if it was intended but I thoroughly enjoyed the "could well be more" pun :)

"I think its obvious that something has leaked."

With this share it wouldn't surprise me if the thing that has leaked is the well itself, into some other company's oil field :D

you can't just be "taken out", a buyer could come in and aggressively start buying shares but an offer would still have to go to the board to buy out all shares... and if the board really have hold of the golden ticket they aren't going to accept offers less that a couple quid per share

"Sorry for lazy grammar, been in 4 supermarkets today.."

Most interesting post on this board as usual had FA to do with COPL :)