Member Info for whimax

“Don’t pin your coattails on a donkey.” 🤣🤣

Yes, all rather silly.

At a basic level, if you take Cash in the Bank, pretty much the minimum lump sums from the deal, plus the promised back costs up to FID and The seismic costs for Rissana, that must be close to 50% of our current Market Cap 😂🤦

Fernan10

It’s derisked enough for me. 👍🏻

Fernan

“For now, the only reality is: Energean will pay US$ 25 million for a 45% stake in Anchois. If the flow test in uncessfull, we will only receive the initial US$ 10 million, and that´s all.”

But wasn’t/isn't that always going to be the case? Without a flow test, there would be no financing from anywhere, so all these things have to happen at some point, just potentially in a different order. This way, and assuming there are preset flow test parameters in the contract (which there has to be) everything is ‘good to go’.

Good point, Happy

If Chariot had gone (or end up having to go down) the self finance route, interest on any loan would have begun to accrue as soon as the loan was made. By doing it this way, there is no interest until production begins, so it’s in Energean’s interest to get us to that point asap. Interest on 50% of capex for a 12-18 months (albeit not all would be drawn down initially) isn’t insignificant.

……and are we just ignoring these bits? 🤷🏻‍♂️

o US$85 million gross carry including:

§ All Lixus costs up to FID, including the additional Anchois well with a gas flow test

§ Planned Rissana seismic acquisition costs separately capped at US$7 million

If ever there was anyone that deserved NOT to break even and/or lose money, it’s you kb. You are literally the most pathetic, whinging, embarrassing excuse for a so called investor, ever to grace these BBs.

I tried to tell you months ago to sell up and leave, because investing wasn’t for you, but you didn’t listen, you just kept moaning, and repeating your nauseating tag lines. Do yourself, and the rest of us a well overdue favour, take my advice now, sell your shares, take whatever money you have left and go buy some premium bonds or something!

Absolute 🤡

Laughable!!

There’s not a snowballs chance in helll that Chariot would be signing this deal, if ONHYM or the Moroccan Govt were even remotely concerned about the consequences from a geopolitical perspective.

Try harder 😂

“Wood for the Trees” springs to mind.

Couldn’t agree more Happyinvestor.

This deal gives Chariot the opportunity to earn vast amounts of revenue with no further dilution and zero debt (in fact less than zero due to structure of deal) off the back off 1 drill with a very high COS.

It’s an absolute no brainer. If people can’t see it, simply because the SP didn’t react “correctly” yesterday, more fool them.

Blue Finish??

Honestly, I wouldn’t be at all surprised.

CoolMax, there are ONLY ever 2 reasons for manipulating the price downwards imo ;-

1) To allow Short positions to close out

Or

2) To fill a large buy order.

IG are showing 97% Long 3% Short so not a huge amount of short positions to close out.

Anyway, time may, or may not tell what the reason for this ludicrous drop is/was, but imo, it’s not because of the deal announced today.

Wouldn’t they be more likely to drop the price like this if they had a large Buy order to fill? How would they possibly fill a big buy order in a rising market on a day of excellent news, if everyone else is trying to buy too. Especially if it was at a pre agreed price! 🤷🏻‍♂️

Nickshaw, I don’t accept that the market “doesn’t like the deal”. I’ll have to agree to disagree with those who say it doesn’t, but a drop of 20%, on this volume, with this number of buys v sells, just doesn’t add up. I may be proved wrong and a huge sell may appear after hours, but 1 person/Insti offloading still doesn’t mean “the market doesn’t like the deal” imo, it just means they want to sell, for whatever reason, and are using today to do it.

On the face of it, and at this point in time, there a pre 2m more buys than sells today.

CoolMax, in your opinion, what is it that the “market does not like” about the deal?

IMO, there is nothing NOT to like.

Looking at the trades (and I only have a limited view) I’m going to suggest that the drop in SP has nothing (or at least very little)to do with the Farm In terms/deal.

Yes, some traders will have bailed, because that’s what they do on news, but It could also be argued that (although volume has been low) someone has been drip feeding sells over the past 2 weeks. If this is a “distressed seller” it stands to reason they will have taken today (a guaranteed high volume day) as an opportunity to ‘go for it’ and dump as many as possible, at any price (within reason) and just get out.

Someone mentioned earlier about the 100k blocks. These are ‘O’ trades so not the AlgoBot, and they started right on the opening bell, suppressing the price and stopping any upward momentum in its tracks.

The Farm In deal is an excellent one IMO, so I would have expected big buying today off the back of it. Unfortunately someone had other ideas. When they’re finished, we’ll see some upwards movement imo, especially since we know that the On Shore drill will start turning “early in the New Year”.

GL all

Happy, I get the point you’re making, but why would AP let that happen when he just said in the webinar that they had had approaches for the company, and knocked them back.

He knows the value here. It’s not just a case of someone “taking them out” simply because the SP doesn’t reflect true value.

Oh, and don’t ever let anyone ever tell you that the stock market isn’t rigged. What we are seeing this morning on here is off scale in terms of manipulation. Disgraceful.

The first question earlier was mine, about the “muted reaction” to the news. They didn’t read whole question, but hopefully I made the point I was trying to, and the BoD will take notice.

Excellent webinar, almost completed derisked now. Im now 100% relaxed about my investment here. If funds allow I’ll buy plenty more at these prices, as quite frankly, 12p is farcical for what we have and where we’re going.

Those who aren’t yet convinced should sell and move on.

Yes Nickshaw. Now been said twice. 👍🏻

“First gas without any future significant equity raise” 👍🏻