suspension: possible dispute re the US$7.5m due to TPET under the terms of the FOA. The cash flow RNS stated those receivable funds would "probably" be offset vs. drilling costs. A gusher would 'probably' have required that offset, but not the dry hole. GALP may be arguing that those funds should be offset against initial costs - rather than costs in excess of the free carry of which there may be none as the hole was dry. US$7.5m equates to c. 1.8p/share or 75% of the last closing SP, which would help! And then there's the US$3m bank guarantee.... IMHO & DYOR and we need some luck!!
Surely its simpler and therefore quicker to phrase a negative RNS and more difficult to phrase a positive RNS so as not to mislead the market..............? Sweet (light crude) dreams all (in the UK).
All good things come to those who wait...........
MCap vs. MCap TPET has almost no relevance to GALP SP atm and even a TMA gusher would not have GALP BOD renewing their Bentleys. There was no suspension prior to Assaka duster RNS and consequential SP decline - WHAT EXACLTY de we think the current suspension implies, prior to (presumably) a TMA RNS? vGLA.
TonyBaby/Philski - definately a hold - our shares 'cos they're suspended, our breath for the news and [what's left of] our nerve. vGLA.
No suspension pre-Assaka RNS, but suspended now. If the current suspension relates to an impending RNS re TMA, then the news must surely be encouragingly different in nature to that relating to the Assaka RNS, IMHO :¬)
Knowledgeable views much appreciated, TIA. Is this a case of corporate risk management? Might suspension have been sought in advance of any & all TMA-specific data so as to avoid any risk to BOD members of insider trading sanctions. Denial of market liquidity being justified by impending make/break news [tho' too early for TMA yet, IMO]. If so, we may have to keep all our fingers crossed for rather longer than the weekend - and I'll need a wee before then! vGLA.
RE: Earthly - Please advise the purpose of your posting.
For those worried about director’s activity – nothing murky or unsatisfactory – quite the opposite IMHO as it shows directors investing in their own business. Get a grip fellas - particularly on currency. Amongst several other purchases and options one director BOUGHT (at a price agreed earlier) @ $0.29 Australian [£0.16] and has the OPTION to buy [obviously at a price agreed beforehand] @ $0.42 Australian [£0.23] at 12/06/20.17. Taken as a whole, the recent share placements have apparently diluted the SP in the usual way. IMHO we need the placement overhang to be admitted to ASX & AIM (happens next week) and the dust to settle. (Am I allowed to say ‘dust’ in this context!?). Then will be the time for the SP truly to reflect our well’s prospects. Fellow contributor Invest-wisely appears to agree, though I would not wish to put words in his mouth - see his 09:56 post.
Cream Walker: I think because the price ($0.42 Australian/£0.23GBP) was set a while ago.