Shadow: It is hard to know what to do Shadow to be honest. What I have learned in the last number of years is that this share is really only for the big boys, and the small investor is just chancing their luck, hoping to get in at the right time. Is this the right time? Impossible to know. As for taking up your share holding, I would be fairly sure we will be able to buy cheaper on the open market in the next couple of weeks, and of course there is the memory of having invested in the last share offering. Looked like good value then. I think that this share will come good some day, but it would look very much like the big investors will be in complete charge. What am I talking about, they will be in charge in a couple of weeks time. The best and worst thing about human nature is that hope springs eternal.
Druid looks like our best bet really. They say that Druid was once joined to the Canadian off shore, before being separated. As far as I can remember there was a farmout in the Canadian side not too long ago.
Nice to Michu: As far as I can make out Nice to Michu, when you take consolation into account; ie. the new shares divided by 200, it would give the rights issue shares a price of about 0.05 pence. So lets say the middle distance between the new shares and the old ones would be, say 0.07 pence. But taking into account that the company will be more or less debt free and with some monies to keep going, there would be a good bit of upside priced into the shares, so I suppose that is why they are trading at around a penny today.
That is right bulleye. Hopefully Druid will save us.
68 million raised, with the possibly of about 4 or so million from ordinary share holders. Twenty seven million to be spend straight away paying transocean and Melody. Shares back in trading tomorrow.
Looks like after consolidation that the share price will be around half a pence a share. I think that there would be upside from there.
Will be interesting to see what price Lansdowne shares will be at the end of the day on Wednesday. Also interesting to note that by changing nearly a million pounds of debt for 28% of the company, lansdowne have sold around 7% of Barryroe for just under one million pounds.