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Thanks Ilovesocks but we are all grownups and we can read between your lines. We really don’t need you to hold our hands! Work that short baby work it! I’m buying more and right now we can buy cheaper than the boys in the city have been offered! We all know it has been forward sold anyway. FULLY FUNDED for 12 months with all our projects being advanced and JV farm out agreement coming soon. I expect they already know who is the JV and this is when we will get the we now own 100% having bought out the remaining 25% Phoenix RNS! I’m therefore expecting the placing to have been oversubscribed. You shouldn’t be afraid of placings when they advance and strengthen our position with an extra 9.8 million on top of the 17 million in bank we are going to make leaps and bounds in 2024! IMHO DYOR
Deepcut, no need for the abuse. My only mistake here was not accepting a loss. LTH with money invested I dont need so didn't sell at a loss. Wont sell now either as why? If it busts it busts, I still have other investments which seem to be doing fine. If it succeeds then I might just get my money back. It's all part of the game, we can't win every time.
Attacked and threw insults at myself, scot and olderandwiser, including calling me a To55er, hang your heads in SHAME, yes, SHAME, the lot of you.
88e will go bust, it needs to go bust, so that the majority are not sucked back in to this ongoing farce.
my views.
Fair enough, good luck
Long term Uscita with an average of 0.69p just now. I wont be buying more until the consolidation is over but might try and bring the avg down a bit after. And thanks ;)
Nope, the latest well test results show that the asset is likely potentially commercial. This requires commercial engagement with prospective partners. But you can read so you know that.
Nobody can state that an AIM company will not need to raise further funds. However the essence of your posts are not factual but based open your inability to see further than your need for PANR to be a success and you see 88e as a threat (it isnt). Not very grown up or worth reading.
The CR was a definite so no need to be surprised, angry or whatever feelings one may have. The 40% discount is a little kick in the gonads though. Didn't expect that one. Been here over 10 yrs and seen my investment go from an all inclusive cruise for 4 people for a month to a weekend stay in Butlins. I'm not bitter just truly disappointed and disenchanted with the current bod that do take far too much renumeration and showed no faith in their own company not dipping their hands in their wealthy pockets to purchase shares, even at this pathetic SP. Let's hope they eventually deliver on something. Options -You can either sell up now, probably at a huge loss or hang on for some potential catalysts to bump this back up. There are some in the not too distant future. An upgraded resource report for Phoenix. A possible farm out for Phoenix. Probably a closer one is a farm out of Project Leonis near to Prudhoe bay that could be a significant drill and near to taps and other infrastructure. Namibia could be huge but need one of the former to be monetised before we can think of this one. Hopefully Longhorn we start to bring more and more cash into the bank. So not all doom and gloom, just need some of the cards to stack right. Whatever one does GLA!
SKIPPY
"The RNS clearly states what the 5m is for and it isnt just 'survey in Namibia'".
Todays fundraise is for post well work for Alsaska. Which are non commercial. of 2D Seismic program in
Namibia and primarily to keep the lights on and salaries.
Today actually new drilling they will need to issue about 5-10 Billion more shares. AVOID. By the end of this year they will do a massive substantial fundraise at a massive discount. Expect share price of 0.10 then 0.05. and or more consolidation. avoid.
I just checked over at the PANR and counted 2 messages posted today. One of them mentions 88e. It seems that PANR investors are far far more interested in 88e.
I wish PANR investors the very best because I'm not a massive man child baby that needs to post negative stuff on a rival company message board.
Is there a fund raise coming up at panr Munnie?
The RNS clearly states what the 5m is for and it isnt just 'survey in Namibia'.
It does include funding for a farm out provider process and ongoing operational costs for 12 months.
Other funding will be requited to horizontal drilling. As many as 10B more shares could be issued. Todays raising of £5M is not for drilling new wells in Alaska. It is for survey in Namibia. Not even for drilling Namibia.
AT LEAST 3-4 MORE FUNDRAISES TO COME THAT WILL COMPLETELY WIPE YOU OUT. FOR GOD SAKE DO NOT THROW MORE MONEY AT THIS.
AVOID.
From Placing RNS:
"Following completion of the proposed Placing, the Company will have sufficient cash to fund its ongoing working capital requirements and GENERAL AND ADMINISTRATIVE OVERHEADS for at least 12 months"
In essence this raise is to pay bod salaries for the next year and keep the lights on. Notice how the amount was at the upper limit of shareholder voting requirements... Another few placings will come also. This is a 99.999% certainty.
You couldnt even make this stuff up.
And after G&A raise, then more raises for all of the going-nowhere projects...
Yawn.
Its over.
PANR are about to release Aphun resource upgrade. Would make sense to pick up some shares there to make back 88e losses...
Going to need a consolidation fairly shortly
Made me chuckle that one Uscita! The brass neck of some posters is simply incredulous isn’t it.
As I mentioned yesterday, companies like AET have accumulated over £250m NPV10 assets without the need for ANY shareholder dilution, with the board putting their own hands in their pocket to buy shares! What a contrast!
Rinse and repeat, they are not wasting any time with the rise for cash, BOD getting in very quick, what's more to say what I've not already said ? BROM u may maybe a nice guy, u have been obsessed with this for yrs which is very worrying .
Rns Placing at 0.16p 40% discount .
17/8/23 OO was 0.31p then a year year low.
I apricate that... Its the end of an era for me...
Lots buyin.. back up this afternoon.. lol
RNS placing 0.16p 40% discount .
Derampers got this one correct.
Why don’t you stick to what I hear you’re good at?
Go share a 🔔 end!
Another ukog
It will take a while until this will move either way up or down
0.15
Yes it is wise to get out if you feel that way. It is ultra high risk.
The vast majority of anyones portfolio should not be in AIM. It is the 'shot at nothing' to give it snooker analogy.