Is KBC trying to get the underwriter to terminate the...

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boysy1

9,375 Posts.

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04/04/24

10:39

Post #: 73183070
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Originally posted by Autosime ↑

I dont know if i agree - geology is what it is , whether it flows well or not is sometimes unknown . were i think they have been poor is not having a contingency buffer. so many companies don't have a cash buffer to allow for things going wrong. Its is dilutive if you raise cash that you don't need but its so much worse if you raise cash when you are desperate.

The other thing worth noting is the current team have experience with oil production in the coper basin and finding some oil would be the biggest vale creator. the oil is sold as Tapis, the well are cheap and shallow and take only a few days to complete. what does bolton have in this regard - zero

I don't mind if Bolton bought in as an investor , or is the kind of strategic owner that can held a company realise the value of their assets, but he is neither

as i mentioned at the start, the best thing current shareholders can do is take up the entitlement offer to prevent more dilution that would benefit the EO underwriters. The assets are valuable and i think Ven can turn the corner. The EO price allows for a severely reduced cost base, and one also has opportunity to but at market and reduce cost base even further.

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Is KBC trying to get the underwriter to terminate the underwriting agreement - KBC actions with the take over panel appear to be trying to derail the entitlement offer as per point b) below ….

VEN Price at posting: 1.2¢ Sentiment: None Disclosure: Not Held
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