RE:It's timerisk53 wrote: Been MIA for a number of months as i knew to expect nothing till 4th Qt. Now were here am looking forward to that announcement we've all been waiting for...
GLTA
risk52,
not yet.
They cannot show the numbers that we may expect by exit 2019.
The guidance may be of interest though.
Riverstone owned 50% at the "Transaction" on Jan. 4
"Transaction" Management of Riverstone comes from G-S., that's where they learned their trade.
Check out "founders" in
Founder-01 and
Founder-02 G-S is also in the news as per
Sarawak Report When they started Riverstone, they had a moneybag of $39 Billion. (Huh?)
They're not exactly retail. They live by different rules, different goals and by different methods.
All clear, business as usual.
Neither is GMT (retail, that is) ~14% of total share count on Jan. 4
They also hold warrants (?) that give them the right to purchase another 4.4% of PIPE total share count.
(not sure if these warrants are of the same type as we (?) hold.
At the time I mentioned that we got screwed. Still true, still believe that, but I've accepted it, life goes on.
Now where and when is PIPE going? We're still in the "sweet spot", that's why we got in.
PIPE itself is working towards 33K boe/d (max. for in-field infrastructure), but the Transaction pdf states: "The McDaniel reserves and resource evaluations support sustained production potential of greater than 50,000 boe/d."
My guess is that PIPE will remain "PIPE" until they've got 33K boe/d.
Then they will sell it.
The Riverstone website states that they like to repeatedly work together with their CEO's (?).
Our CEO may well return, in the future, to work for Riverstone again in building up another company and prepare it for sale.
Question is, will GMT try to increase their holdings through the wts that they still have (4.4% of total sharecount in PIPE)?
If PIPE goes to $10 at buyout and I don't think that's unreasonable, will the shareprice justify exercize at, or before, expiry?
Why wouldn't they buy shares now for way less than paying the execrcize price for the wts' in 2021?
First: maybe they do, have done.
Second, by April/May 2021, they have a good impression of how de-risking has progressed and in the meantime they can use the money for other purposes.
Third, the buyout is so much closer for a large andf quick profit.
Will this strategy be succesful?
I think so. It is my opinion that the SP early 2021 will be closer than $5 than $3, which means $6.99 would be my maximum guess for the SP.
Well, all of the above because I had nothing better to do.
Be carefull with your wts'.
Sell or day-trade as you like, but don't forget that they may well become more valuable than you presently may think.
Have fun.