Member Info for ZyDer

So FG, how much would you put in the hat, if there was a whip round for good old YA at the meeting on the 4th. See Mole's post earlier on this. Excellent summarisation.

Tsbs - you could always take him to court for pre-selling

or is it

Fire - take him to court for not allowing you to pre-sell

I'm confused - maybe I don't know how the market works

ZZ said that when he released a rns the phone did not stop ringing. He did not say who was on the end of the line but implied that it was other parties interested in the oil or gas with a view to joining forces in some way.

Some info might be released in the meantime - eg interim results

It's a legal thing - any new material must be RNSed

RNSs can be released at any time - including 6:30

What I find most galling is the fact that YA and their band of undesirable followers have been punching the company and its shareholders below the belt for a very long time. Making a lot of money in the process. The minute frr put their boxing gloves on, they cry foul. Just about sums them up I suppose. Not worth a shovel of shite fot the lot of them. Ps Board member, death spiral lender and dirty tricks shorter. If they are not working together I'd be amazed.

Somebody asked who was selling this morning. Probably those who knew that announcement was coming from SP.

Those in the know closed ranks and let the New forward sellers off the hook.

The majors RNS could have been released virtually at any time - ZZ did it to pour petrol on the fire.

If the dilution was exagerated by a couple of billion because of shorting driven low SP, would YA have to buy them back.

PS we all have bought at these low prices - so would we be asked for more money? Only joking

Just more evidence that the box is not empty

When I worked in the Nuclear Industry, I was gofor for the lead team of a department with a budget of £100m or so.
To get any kind of sizeable spend approved various hoops had to be jumped through.
I would imagine the process would be roughly the same for the majors here.
1) Investigative project manager appointed with appropriate team of engineers and support staff
2) Some investigations performed
3) Some kind of report generated
4) Presentation to the lead team by Upstream director at the next available Board meeting - monthly?
5) If it was a big project, further all day meeting with ALL BOARD MEMBERS present (No delegations) to make final decision.

We are all hoping that these majors will commit to MASSIVE expenditure, starting with a BIG upfront payment.
The shareholders of these majors will expect this kind of process to be followed. Even after a "yes many TCF or many million BOO can be extracted from this field" decision from the project team, there is a significant time period before the special dividend reaches us.
I realise that much of the investigation may well have been done..... but majors are not going to be nimble or allow themselves to be rushed.

Just thinking out loud

If it was a sell, why could people not buy for long periods this morning. I'm undecided.

Thanks for your replies Tsbs & Mole. I'm certainly not deramping but it is a thought I've had for a while. Paying back YA at 265k a month is great but 30m needs a step change especially if you want to stump it up in one go. i.e. no rescheduling

I think all the go-it-alone option with organic growth is the most risky
Other lenders EBRD or RBL might not want to risk the geopolitics when pushed. It is easy to say "yes in principle" rather than " yes here's my cheque for Xm"

It will be interesting to see how long it takes Niko to turn from funding RNS to cash in the bank.

Some of those options might not clear the debt due in 2020.

When I am reading your useful and informative posts on my phone, the occasional word is highlighted in green, underlined and in an unhelpfully small font. Does anyone know why and how to fix it? I know I could fetch my glasses but some of the posts do not justify that level of effort. Thanks in advance

Cancelled now Puddy

Now 8 days since the majors RNS.

Lots of people thought a deal was close then.

Close - definition - undefined but more than 8 working days.

In another 12 working days, the interims will be here.

"a deal is close" equates to virtually "to be rnsed with the interims."

Patience lths

Everyone knows we're still in the crosshairs of various traders, shorters and some very undesirables. While there is no further news people are keeping their powder dry, hoping to get in at a yet lower price.
Wait too long and you will miss the boat.

Do the maths.

Every million, every hundreth on the SP saves you only £100

Miss the boat - no gain

What does Rainbow Rider always say - gotta be init to winnit

Write it in your book then!!!

Donald Rumsfeld is giving the president his daily briefing. He concludes by saying: "Yesterday, 3 Brazilian soldiers were killed." "OH NO!" the President exclaims. "That's terrible!" His staff sits stunned at this display of emotion, nervously watching as the President sits, head in hands. Finally, the President looks up and asks, "How many is a brazillion?"

Thought you were working Billy

What is the betting that the 2 majors are nos 96 and 97 on that list someone posted the other day. Also they haven't got 2 happennies to rub together.