Yeah those were close to my calculations. Plus any upside of...

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GortonGums

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07/07/17

10:56

Post #: 25723353
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Originally posted by Pos1 ↑

I haven't posted on Hot Copper for a long time. Mainly due to small holding or not held individuals with gloom and doom predictions. I try to stay positive regardless of the times!
As a holder of a reasonable parcel of SWE shares I am heartened by the the current events.
Firstly the acquisition of a mining company and mining leases in Nigeria is of no interest. My 30+ share portfolio is following oilers. Not good recently but POO will recover.
As for SWE the announcement of SWE holders receiving 58K of SOGTL I believe it is great news. Thanks David (or maybe it is because you have a large holding personally)? Regardless I will go along for the ride.
Lets say you have 900K SWE shares. SWE had 165.15 shares on issue. 58K divided by 165K = 35%.
35% of 900k is around 250k SOGTL shares.
SOGTL shares last traded at 500 Tanzanian shillings. Current conversion rates are 1 Tanzanian shilling= 0.00059AUD. 250,000 shares @ 500 shillings=$73750.
SWE last traded at 0.037 AUD. 900k shares=$33300.
PLEASE correct me if the maths is wrong but from where I sit this looks like a great outcome after a long wait for SWE holders.
A lot will depend on the independent trust fund in Australia and their rules (god help us all if its like Super)!
Still believe their is good volumes of oil to be had by Swala if they can get the drill bit in the ground and we the long suffering SWE holders can get in the action!
All in my opinion only.

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Yeah those were close to my calculations. Plus any upside of whatever this exotix funded project is.

SWE Price at posting: 3.7¢ Sentiment: None Disclosure: Held
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Yeah those were close to my calculations. Plus any upside of...

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