Despite the constant snipe and character assassination from RTN, let's have a civil chat since it appears that is what you posted.
I agree with you there Martin and that is why I said the market will price this for growth when it is evident that there is one. Just like the market pricing for the sale of Georgia, success of 70bpd at south quarry and LO's misunderstood $50m impending unrestricted funding. Once the full picture became known, the market then priced for uncertainties and stagnation and everything came crashing back down.
It is possible to exceed 0.8p as I have noted. Only when growth is evident so you will have to ask yourself about the realistic time frame. If everything went smoothly to plan, when will the 3000bpd be achieved? Therein lies the answer as to when this will start motoring past 0.8p. I am not suggesting it will only do so at 3kbpd. I am saying it will only do so when that looks like definitely happening....
I think if people digested my post thoroughly, you would see that it is what I am getting at.
No point engaging him. He's obviously just trying to get people to bite to give him an excuse to fill the board with scare stories to try to give him a better chance of a cheap buy-in when it resumes trading.
That is the market valuation on a company with toxic debt, no money and would seem will or skill to drill wells and increase BOPD. Fully funded with LO in charge on the ground, an actual plan, drills that work and the drillers incentivised it's a different story. Once Lind cleared (which will no doubt come with pain) then I can see a bright future. No pie in sky figures (and depends on oil price) but we are not anchored to 0.08 (Abrahams placement was evidence of that, we rose to 2.7p on its turns out nothing. More shares in issue now but rise above 0.08 very possible if we actually do something positive. Waterflood under PL worried me, under LO it excites. We may be riding on Chinese coattails but feel more positive for next year than have for a long time.
We have $50m to spend on LO... If they not doing the drilling that's a lot of money to be spent on research. Tbh looks like this was the plan from day 1 LO introduced.
Hard to call if a good deal as we never knew the state of rigs but last BOPD tells it's own story. Should be a good move, can't see LO doing anything counter productive they are a drilling services provider looking to expand afterall.
Despite my views here which were largely negative for the last 3 years, I genuinely wish the holders no harm and would love to see them salvage something or defend their holding. I too have been savaged by this and as such, taken to caution investors here about what is moving this share. I gained an awful lot of knowledge here in that time so it may be useful to some who would consider it.
I hope you can recoup your losses elsewhere in the short term. No doubt this will one day come good because LO seems like a capable outfit. The only thing I have doubt about is whether this will benefit PIs. Even if it will eventually, it will take years due to the 0.8p pricing. Things will need to have progressed significantly beyond where it is now for it to go over 0.8p because that is the current valuation. That unfortunately is how the market works. It prices for growth but punishes for uncertainty or stagnation.
Good luck and may 2015 be a prosperous one for you and everybody here.... (including myself I hope).
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