Hi Spuddy, What do you make of the below post been on Sapinda's website?
Perhaps but from reading it a while back it seemed to be more about permission to extend a filing deadline of accounts as they could not get a correct valuation of a key asset in time for the accounts. Not sure if they can use the egm to bring up and sort out other matters but would assume not as they would need to outline them in advance to shareholders.
I think pvr had a role in pushing out the drilling of SP. It really doesn't suit PVR to drill it before Barryroe is sorted as they don't have the cash to do it at the moment, Better to just sit on the oil until someone pays us.
I can see where you are coming from Spuddy but don't think either Lansdowne or PVR have the money to spend on solicitors and advisors to get a deal like that done. It might be seen as a lot of money spent by two companys to put them in a similar position overall.
You could be right Mmmmm. Although I am still positive about the eventual outcome for Barryroe. If it does happen then the shares will go up to a few pounds again. But where I think they will make really big gains is on the iseq where the exchange euro dollar exhange rate will keep pushing the value of oil up. In the long term though as long as PVR have the cash to sit on the oil someone will eventually buy it. I don't think PVR management would have accepted the deal they did or gotten the institutional support they have without the Sequa deal having a good chance of success.
I think it would get very complicated. I think PVR will have to inform us that the Sequa deal is formally off before they could get involved.
Hi Mmmmm, There are a lot of people on bashing PVR but in fairness to the management the oil market has gone through a huge adjustment at a time when they are trying to sell. I think the fact that they have a confirmed bid is great. Hopefully the funding materialises and we all make a packet of money. Alternatively with the equity raise that has just happened the pressure that PVR was under to make a really quick deal has now gone away so that puts them in a stronger negotiating position if the Sequa thing doesn't happen..
It might be slow but this seems to be walking up with little volume. Which is great to see