(DES.L) Desire Petroleum PLC Buy/Sell

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Author	GC Trader View Profile \| Add to favourites \| Ignore
Date posted	2009-11-07 22:44
Subject	Re: This OO business - DV View parent message
Votes for this Posting	Voted 17 times. Not voted down.
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DV, I think IF the SP holds up around or over the current price PI's will see these 70p shares as a very attractive discounted (+/- 20%) option given what is about to happen in a little over 3 months (IE... SPUD THE 1ST WELL) therefore my gut feeling is that folks WILL find the money somewhere to fully subscribe on their options thus leaving very little or no additional shares to allocate... My guesstimate would be < 1 or 2% and thats probably just from those PI's who are not following developments closely enough to realise the nature of the bargain rather than those without the spare cash to commit... They have my vote to raise the extra cash with this PI OO (for a multitude of unplanned contingencies like logging, well testing, additional well perhaps...) but I had also stated couple of weeks ago on here that I wasn't going to subscribe unless SP was in the mid to high 80's at point of offer... Now it looks like SP will be in that range (or more) then I'll certainly take my full quota and more if I can have them although as I mentioned I don't think we will see many extra at current price... All in all a job WELL DONE by the institutions (who have already invested 42m) to walk the SP up just before the EGM so it gets the PI's vote... (all IMO of course) GL all... PS... the next 3 weeks (IMO) is going to be very interesting with further announcements as DES (contractually) must make their operational intentions known to Diamond BEFORE the OG sets sail... AND... I'm hearing from sources that rig is expected to be in FI waters for 1 year PLUS... Now from we have been told so far (by DES themselves) the ORIGINAL estimates and budgets (prior to additional fund raising) were built around approx 30 day wells... hmmm... NOW that could either be more wells than was first anticipated or a lot of additional work on the same number of wells or might be work for another explorer and not necesarily DES... Either way IF indeed it is 1 year PLUS then it can only be good news for all parties concerned... Standard IMO & DYOR caveat applies...
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