RE: Heron Funding Thru RBL or FARM DOWN as Main Options!25 Feb 2025 11:49
Proquo: "A company now full of assets, oil reserves I the tens of millions, early diversification into renewable, developing ties with the neighbouring oil giant just up the road and with whom we share an oil field, string backing now from local authorities, oil flowing unstimulated at a good rate and being tweaked to flow even better, no debt, new blocks ready to go for minimal initial outlay, no debt, a great drilling team with all the necessary kit in situ, and the sign off for selling due this month. And all for a 19mill Mcap. Nothing better out there in terms of value"
With all of the above, I would expect a lot of people with "deep pockets" to be queuing up to put money into PM and a lot of options on the table of how to achieve the growth plan throughout 2025/6. If MB has to resort to yet another diluting fund-raise on similar terms to previous years then he's failed to in his duty to look after shareholders' best interests.