Jimmy, If there is a farm-in partner there should be no need to raise additional funds, and if there was, we would be doing it at significantly higher than the last round of fundraising.
Spuddy - if he has not learnt his lesson and he is going to sit and wait on a figure he determines there will never be a deal - 4 parties in the data room will put a value on it, and he has to accept one or go quietly into the night early next year.
I'm ploughing in even deeper - While deeply disappointed with BOD, I don't believe they can lie as consistently and as publicly as this board suggests. I believe I will get back some of my MASSIVE losses in near future - sadly will NEVER see the full amount. I'm anticipating a value of circa £2 when things come to fruition, in whatever guise that may be.
A thought - would PVR be of interest to Shell for the tax credits alone? I know they have plenty of tax credits as a result of delays with Corrib but you can never have too many, and I presume they would get credits in excess of what they would have to pay to acquire PVR.
JR - Sorry for slow reply, I operate from a different timezone. I was thinking the value of the bet could €35 (current value of 100 shares which once upon a time were worth €1,200). I have always suspected the game that is being played is the one laid out by Sobeit - the difference is this time a number of vehicles will be employed to hide the fact that O'R Snr/Family is the beneficial owner of the shares. I wouldn't even be surprised if the Llyods buy and sell was preordained. The irony here is, if this is not the game being played there is actually no real future in this share so we're being screwed either way. My preference is that the game is afoot and there is some upside to compensate for all the pain I have already taken!
JR won't bet against you but I'm going to wager CEO resigns this week if family shares have been sold
The volume means absolutely nothing if it does not move SP!
Huge? He has currently 3 weeks salary tied up in Shares!
Name Position Shares in Issue
Dr. Brian Hillery Non-Executive Chairman 46,584
Tony O’Reilly Chief Executive 112,470
John O’Sullivan Technical Director 30,648
Lex Gamble Non-Executive Director 100,000
James McCarthy Non-Executive Director 10,000
Philip Nolan Non-Executive Director 30,000
Philip O’Quigley Non-Executive Director 5,000
Michael Graham Company Secretary 15,519
You will find he did not sell them - they were taken. Perfect timing but not insider trading. He will now appear as a major shareholder with unencumbered shares after the placing. The whole this is a shambles. That said company should be stabilized albeit at the expense of all the small shareholders.
Watch this space - TOR Senior is going to be a major Shareholder again with shares that are not pledged to any institution - WHAT A SCAM