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Member Info for JDwag

Member Since: Mon, 16th Jan 2012

Number of Share Chat Posts (all time): 1,594
Number of Share Chat Posts (last 30 days): 111

Last Posted: Thu 16:14

Post Distribution over the last 30 days

Thu 16:14





Just practicing my BOOM’s for September...

Thu 13:51

Agreed, our CEO, CFO and COO have a 90m share option between them at 2p (with a myriad of conditions to achieve them). That is plenty incentive to be getting on with. I also view the 2p level as attractive based on this is what they also negotiated as part of their buy in to the company.

Thu 11:34

‘RTN, I think surely the point is, do you or sonmi or CH know if the news will be good or bad?’


Are you for real? If we knew that none of us would be posting on a BB, made me laugh there fella!

Wed 11:39

On the subject of placing, what are people’s views of this, I personally don’t think a conventional placing is coming, I think it will be in the form of an Institutional Investor taking a slice of the company (10 / 15%, etc) or possibly via a long term low debt funding arrangement, obviously it looks like the LO £5m drawdown is available in the short term, however, for investor sentiment, I believe this old style placing are finished (certainly hope so). Obviously, a chunky sale of a Texas / Georgia would help, but I just don't know how much that will actually raise.

The Q2 2014 Report says there was nearly $6.5m in cash on the books at the end of June 2014 so I guess no immediate need for cash, however, all dependent on current cash burn and if they are getting to grips with a reduction in group costs of between 30% – 50% and increasing oil production to such an extent as to allow positive cash flow.

Wed 10:46

Let’s be honest, if this gives us the news we crave in the next week or so, history tells us this share comfortably goes over 2p. RAMPPPPPP.


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