Fact is it hasn't been any different in the 3+yrs Iv'e been here. A few weeks ago the sp stood at about 5.7p. At that time my buy in price of 38p had lost 85%. New guys may think, Well the worst is over. Now the only way is up. Not necessarily, If it can lose 85% of 38p. Then no reason why it cant lose 85% of 5.7p (0.855p) Remember a loss of 85% of your investment is the same regardless of the sp you bought in at. I dont want to sound like a deramper or a moaner so looking at the other side of the coin you have to say a load of our assets look great and you wouldn't need many to come off to make this Co: very successful and get a spectacular rise in the sp. Trouble is, unlike the rampers who keep trying to convince us of the done deals I cant see a single done deal. You only have to look at the Turkey fiasco, ramped up to the heavens, deal as good as done, now we know different....Lets look at the others. Dec:20th Morocco FD-1 wildcat (Cairn) dead and buried. Next drill Sidi Moussa by Genel. When? 28th Jan: MOU with CLG for evaluation by CLG focussed on implementing proven CLG Tech: on the raw shale oil produced at the proposed Timahdit plant to be designed and delivered in cooperation with Enifit (as far as I know it's still a MOU) and when we can expect any benefit from it, haven't a clue. 17th Feb: LOI Baker Hughes to jointly begin! to develope Siekierki concessions 206 207 and 208...Plan to start gas production from 4 existing wells, namely Trzek-1 2zh 3h and nearby Krzesinki 1...BH to fully fund the start up. In return BH will receive, A to be agreed portion of the profit until their Inv: is recovered. They are then to receive A to be agreed net profit from the wells. OF says we welcome BH to Siekierki this is a real milestone and could lead to the Co: 1st significant production in Poland.......................If thats correct where are we with Lewino, seeing how BH is still just a letter of intent. 10th March.Rogity-1 with Wisent. Though being described as successful at the initial stage. It has to be noted that Wisent have not yet taken up their option to continue in order to earn a 45% working interest. 24th March.As with BH the agreement with Horion for Cybinka and Turzym is still only a LOI. 27th March. Transatlantic term sheet agreement and including Hutton Energy BUT once again not yet a signed up agreement (Spud June 2014) Completed Dec: 2015, 20 months away..Long time and how long will it actually take considering our history and the fact there is not even a done deal yet in place. All of this must have a bearing on the sp but as I say if only some of this comes good the sp will fly. Thats why were all still here, all we need is for someone to get their finger out and show us something REALLY POSITIVE.
And many people believe there are paid rampers on here too, but that's not the point. People are sick and tired of the persistent broken promises, false dawns and are increasingly starting to lose faith and to question the veracity of what is going on here. I am in no doubt that under different management that people would be looking at a significantly different picture.
What sticks in my memory more than anything else is the interview in January. OF'S smug grin as he confidently boasts - Lewino horizontal in 6 weeks and very very quickly moving to commerciality and the Alpay deal done in days or at most a couple of weeks. The latter he qualifies with a comment that it has taken so long because of all the due diligence done.. and people wonder why the share price drops.
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