MAE marion energy limited

I just get a feeling that the directors may be in the first...

  1. 5,458 Posts.
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    I just get a feeling that the directors may be in the first stages of PANIC....

    So far not one mention of flow rates on Oman well....no IRR update...gas prices at historic Low

    Their short dated options 40 mill with less that 3 months to run held by directors and mates thereof,technically cannot be rolled over without shareholder approval....if the current delays persist then price will be closer to 20c than 50c,thus making it easier or at least more palatable to make a further issue,guaranteed to pass by their mates (they did it once before).

    I doubt a sale can take place without a formal IRR report....thus they will have to fallback on production to pay finance costs...this will require more than 7 mmcf at current rates.....and possible either a much smaller asset sale of further dilution of capital....

    In all you just get the feeling current shareholders are beind totally forgotten.

    AmI p****** off .... YES!!!
 
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