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TRellis
Thanks for that! You’re funny lol, suppose you’re “in profit also” no doubt! Walter MItty was totally delusional!
I hope your holding your breath for that response from Fiona ! Don’t worry she’ll respond soon..
She’s making mugs out of all of us!
Turkeys culled on 23rd April! Who’s voting for and who’s against ?
Hello Walter Mitty
Yes I’m sure you’re in profit ! I’m the king of Spain!!!
Lol lmao
Pmsl
All imo of course
JH
You would know more about turkey sounds more than I would!
How do you prefer to be stuffed ??
All the trimmings ?
LMFAO
PMSL
LOL
all imo of course
JH
All thing that is desperate is the turkeys that are being asked to vote for Christmas on 23rd April ! 3 weeks remain quack quack
LMAO lol
Pmsl
All imo of course
Exactly flabby
It’s to allow mates to get out before they buy back at 10p!
That’s AIM for you
Nope! I can smell middle aged ex army bull shine though!
Shorts will close end April after market has been flooded with a quarter of a billion new shares!
All imo of course
She’s ruined people’s retirement plans !
Mug punter had plans leaving AIM this year
LOL LMAO
Tick tock
ALL IMO OF COURSE
Completely agree Flabby!
Also it’s inportba to note that it doesn’t need to be a “duster” in the sense that it is a completely dry well!
In order to get an economically viable accumulation 1 of 5 or 6 things needs to be substandard and it’s game over!
It’s an appraisal well so the HC are obviously there ! But there are questions about the hydrocarbon seals, the trapping mechanism, the reservoir porosity & permeability, the source rock and potential migration paths etc...
Many questions and risks!
How much of a gamble is worth taking ?
Do I trust the board ?
Is there technical nouse as good as their financial deal making skills ?
All imo of course
Mole
What an excellent post! Truly first class ! Some really searching questions!
“what sort of farm in is now envisaged. Share to fund the dev costs? If so how is the £7.1m principal pushed out by 1 year paid pre revenue?”
My answer: more raises ! Why break a winning formula? Why stop at 320 million shares when you can raise another 180 million and get to half a billion ! The G&A costs for this company are hideously expensive for a company their size !!!
You write “The winners here are clearly the new equity and LOG admin have done pretty well out of this”
I agree 100% but i would add that the useless bod get to keep slurping up the free 6 figure salaries and 6 figure bonuses ! Mug punters lose out !
“ Existing holders will struggle to get in on the open offer if it is limited to £2m and insiders also get to take up allocations.”
I doubt that will be a problem as I doubt that it will be fully subscribed!
All imo of course
Unity
I thought you didn’t want dividends? Or is that another unity on twitter?
Good point HS
IF Fiona doesn’t get to dilute the focaccia (bread) out of this , then it may be worth a look with 126m shares in issue! However with 300 m shares in issue the current equity is “dead meat”! I suppose you could call it “man down”
Good morning all
HS
RRE are Not “emphasising” this! This is a standard piece of verbiage re 2.8 that is written on every takeover scenario!
The company will soon have over 300 million shares !!!!!! RRE will be crazy to make another bid! Even a 20p bid will now be over £60 million ! Truly shocking the level of dilution
All imo of course;)
Anyone know when the end of year accounts are due ?
I personally wouldn’t be opposed to a special dividend!
Fully agree Breq
20p was a bad deal for current SH but issuing nearly 200 million new shares at 10p wasn’t! The only people who make money from today’s announcement are Administrators who get to spin this out for another year or 2, the BOD who hey to take their 6 figure salaries and 6 figure bonuses! LCF bonds will be getting less than the 20 odd percent they could have had !
Anyone waiting for 40p plus is now deluded IMO! Even the 20p boat has sailed!
Lots of companies in the NS seeking farmout and nobody able to secure ! Some companies don’t have bad debts or creditors who have been arrested for fraud !!
Examples include CLNR and I3E !!!
This dog has had its day
All imo of course
;)
Tier
I’d wait until this gets diluted into an oblivion later in the month ! Certainly wouldn’t invest above the placing price!
Good luck
All imo of course
Boulevard!!!
Condolences!
You certainly know how to “pickem”!