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irrationalactor

Half An Oil Company For The Price Of A Semi-Detached

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Item on the radio just now about the pensioner possibly forced to buy the Belize oil company.

Apparently 48% of the shares cost her £250,000. A quote from her market trader son was played, said something like:

For the original price, which is the cost of a semi-detached, you don't expect to buy half an oil company.

To me, a quarter of a million pounds is an awful lot of money. I guess the landed classes have a different idea of the value of money.

Just drives home how mad the prices are that people are asking for for UK property. How much does a quarter of a million buy you, if you opt to buy something actually useful, rather than a semi-detached British house?

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I have asked a couple of foreigners about this and they are now pretty much of the opinion brits are insane.

Also boring too, always talking about how much your house is worth or crap you are doing to it.

To foreign people a house is where you sleep eat and take a shit, nothing more.

The foreign folk are also extremely annoyed of the attempts to export this madness to other countries too.

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Yes, imagine you had a £250,000.00 gift card for Tescos. What would you buy?

Item on the radio just now about the pensioner possibly forced to buy the Belize oil company.

Apparently 48% of the shares cost her £250,000. A quote from her market trader son was played, said something like:

To me, a quarter of a million pounds is an awful lot of money. I guess the landed classes have a different idea of the value of money.

Just drives home how mad the prices are that people are asking for for UK property. How much does a quarter of a million buy you, if you opt to buy something actually useful, rather than a semi-detached British house?

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I doubt she actually bought anything of value, this is obviously a boiler room scam.

It's not a boiler room scam, just a poorly mishandled placing on behalf of the company's advisers. Accidentally triggering a Rule 9 mandatory offer under the Takeover Code is quite amusing though.

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Most junior companies on AIM have a market cap of about £1m to £10m. Most of them are junk, exploration type plays which are unlikely to return any money to investors. The money raised is usually used to fund the directors lifestyle, and shareholders usually cough up when the money has run out, for another share placing.

The better junior oil plays are the ones that are at least £100m to £500m in size.

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