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Posts 21.37 onwards. Dazz makes very good points and interesting to see that it has brought out posters who undermine our CEO. Hmmm VGLA
19:57 Is this Some kind of freaky code? As in 01234/current SP = 100-bagger? Or 01234/my average = 95-bagger? Daar oh dear, if I wouldn’t have had such a wonderful weekend, I really would get depressed by reading posts like this. Sorry, that’s juist my humble opinion of course.
KR
GS
Was the denial of consolidation before or after he said no CR and fully funded
wjmflp
01234 sounds like youve been burnt on aim bud and had a rough ride, maybe change your investing strategy.
All the best
01234
Thanks for such constructive input
Nothing about infrastructure flow rate historic input
Daves quotes or even presentation
Meets or future prospects supported buy pmo investment
Just a negative knock on re aim
Cheers get a life
Have some structured input
And we
Might
Sit
Up
And listen
Having met some of the folk on these boards several times, I know those in whom I would be inclined to believe!
Not aware that I've met you 01234, so no - I may not believe what you might say here!! Respect, and all the best, anyway.
I'll second that, and take your advice not to believe you. DW on the other hand is a front seat driver with his hands on the wheel.
Why believe anything Dave would say to you ? Why believe anything on these boards ? Would you believe me ? I wouldn’t !!
So many shares in issue and more will be pumped out as you point out quite often it’s better than the company having no money to continue their endeavours. The LTT ers (that’s long term traders ) all know really the old sp predictions are now not realistic. So the rule I tend to follow when you hear a price prediction that sounds nice , halve it, then quarter that figure. You will then have a 5 percent chance of getting an eighth of your money back. Welcome to aim all you newbies. GLA
In theory consolidation is just a reduction of shares and a commensurate rise in price. In the good old days of quill pens, that meant less paperwork to cart around in a wheelbarrow - but is meaningless in todays digital age. It usually ends up in a reduction in the value of the company of 10-20%. My theory is that some think that a sudden uplift in sp triggers a spike - that assumes investors are so stupid that they are ill informed. In practise, some may forget they have sell orders in place and end up selling cheap, others reflect on the admin cost of the excersise for no gain and decide to bale out. Whatever the reaction, it usually ends in tears. Some institutional investors will not touch a penny share -and to think a 1 for 10 or 1 for 100 consolidation would fool an II is to live in cuckoo land. On top of all that DW sees no point either - let's not go down that path again, we've trodden it to death already.
I was at the last meeting in London & yes he was asked this very question and wholeheartedly said No.
"Q There has been recent talk on the message boards regarding possible consolidation. Can you advise if this is something you may consider in the near future or if your thoughts on this remain unchanged (ie. That it would do more harm than good and there for isn't something you'd consider at this stage).
A We have made our position on this VERY clear. We will not consolidate unless forced to or there is a clear value point on which to do it (which usually means reserves and production)." 23/07/2018
http://88ewiki.wikidot.com/questions-and-answers
19:27 DW has been repeatedly asked about consolidation and has always responded to the effect of "why as a major shareholder should I wish to wipe 15% off the value of my holding" my words not his and I am working from memory about that 15%.
19:28 in days of computerised holding the number of shares issued does not really alter the administrative load, hopefully if we consolidate it will be for the "right" reason, interestingly another "penny stock" did have an institutional investor buy in which seems to be not per the normal understanding but proves nothing is impossible it seems.
Thanks Brom,
kinda makes Sence for a company to tidy up a business in such a way really.
Brom - I think Dave was asked about share consolidation at one of the recent London gatherings. He said it was not on, as far as I recall. Do you remember this, and any more details?
17:09
smokin see attached link, main thing is to understand the reasons why share consolidation may be proposed, at the moment seems to be no reason.
https://www.insideinvest.com.sg/shareinvestor-resources/2012/05/25/share-consolidations-and-share-splits/
I suppose with a SP of a realistic worthwhile amount it could be. I know nothing about consolidating of shares so not really sure good or bad.
Thanks FarAway, I did read that just want clarification of my findings. Thanks for confirming
10p would be nice...you just never know
yes, you don't loose money, neither does the company. you just end up with less shares and a higher SP.
Am I right in saying consolidating of shares is
For every 5 share you have it will be reduced to 1???
Is that standard or are companies all different?
erm.... Americaism Billions, UK billions. Exchange rates aside.
I think the casio calulator needs new batteries.
7,110,000,000 share issued at 1.3 is approx 80 million Mcap.
800 million Mcap is 13p in my head....I not sure as Jiddy said what realism they are after, Mcap , amount of oil in the ground? the value selling up? or has someone moved on ?
A consolidation might be a good idea at some point.....as my casio has run out of digits.....
As per what usually happens in that situation a deal will be sitting on the table depending on size of discovery proved GLA not long now
No problem Islayman. And Jiddy 12:20, no. I'm still holding. :-)
Methinks TD has sold out Islayman!
88E was NEVER going to be a Producer of oil - that was NOT in the Terms of Reference
Only TEN working days until SPUD!
TD...thanks for your reply. But with respect, 88e never set out to be a producer. The whole tenor of the company was to prove up sell up as soon as possible, for the benefit of shareholders. We not have the resources to produce and it was never intended that we should. So any talk of us being here in four or five years time is disingenuous. And majors are paying an average of $3.1 for oil in the ground...so why would that happen for other explorers and not happen for 88e? (should we have any commercial oil at all).However, your opinion is just as valid as mine or anyone else's and I thank you for the debate...always stimulating!