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Ann: Raven Secures Acquisition of Gasfields LLC, page-12

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67 Posts.

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05/07/18

16:20

Post #: 34166310
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Originally posted by Charlie'sbucket ↑

If i read the Ann right, we go from a 1/6 possible Rev to double that 1/3 (33%) . also tons more acre ridge and now "asset rich and cash poor" but with a loan to draw down if needed
Which ever way we look at Raven, this is a medium term er at the very least IMO. Sorry guys, you all need to go back to you days jobs again! haha

Whatever they are trying to nail down, its pushed to around Sept now and i guessing further. This could drag on a long time. Does it affect the well and asset buy up? maybe not or not too much. Meanwhile we might end up in a great position by the time we trade again- better or worse but i doubt how we are right now. My guess is better perhaps a lot better but only if no major headaches as Ravens finances are a little thin not that penny stocks are not usually in debt anyway so except for a large registry, we not doing too bad with enough for a round of beers? Holders will have to decide if this is a goer- The board is certainly acting as though they want to be "big" and hold a lot of that basin area all rich in gas.

The final paragraph explains the Hold which seems to be enforced by ASX now

The Company will remain in voluntary suspension pending an announcement in respect of the corporate activities relating to divestment's in Botswana and finalisation of its ongoing negotiations with respect to a potentially significant and strategic US domiciled energy acquisition. The Company anticipates finalising these discussions in the September quarter. The lifting of the voluntary suspension is conditional upon the Company providing to the satisfaction of ASX an independent legal review of the consulting arrangement between REL and Ochre Group Holdings Limited; demonstration of compliance with Listing Rule 12.2; and confirmation of receipt of convertible note subscription funds from its Chairman. The convertible note will be subject to shareholder approval. Further, the Company is continuing preparation for an extraordinary general meeting of shareholders to be held in August 2018, with a notice of meeting expected to be sent to shareholders in the coming weeks.

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I fully agree, there is more to come. Mr Featherby has a lot of experience in finance, so there are more dels to come.

REL Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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