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Odds are Q4 will be soggy squid. Hopefully will be eclipsed with combined update.
Well I appreciate all the input and I’m not an accountant so it’s really helpful for me to hear ppls opinions. Passes the time while we wait for blockbuster news.
In order to unlock the oil in place we need several hundred million. Not a handful...
YES more investment will be needed bit not until after Mr Scott arrives with the good news..I dread to think of our SP the day it is independent verified..
Not long now
GOOGLE F
32.59 GBX
+1.39 (4.45%)
Wookie
All will come out in the wash.
We are due at least 1 rns/rna I think Q4 results plus many others.
All will be good in the end.
Can anyone buy/sell? SP has not moved and no more trades are showing?
Locked in a price range doesn't mean placing most the time, overhangs in my experience can take months and even years to clear when there is no volume, you just need patience to wait for the breakout - the valuation here is one of the most absurd I've seen in a while
The way I see it playing it out is a CPR/JV out the blue - he withheld this news as he wanted to be certain and almost fell off his chair..... a 10% placing for £20m at say £1 to fund initial drilling would be fantastic and would see it go much much higher from there
IMO
If funds already committed to CUDA. And we want drilling in August, we don’t have the necessary funds to buy tens if of millions of dollars on new equipment now do we?
Unless… Arts known about this for a while and that’s what the previous placing was for? Not CUDA..
I have seen this misspelled by most posters - "MOTHERLODE" not motherload or mother load.
Should have been using better finance options since this time last year
as HE SAID would be the case , when paying off , death spiral kings YA
as per failed miserably
We now have the recent addition of Nigel to the BOD , all singing all dancing FINANCE
resume, fingers crossed he is now firmly in control of the purse strings and using his
vast experience and CONTACTS , to raise our PRODUCTION companies profile and
options.
Of course , a quick buy in JV for Millions or sale of the Frontier only , would fix all
for years to come, GLA
;))
we raised 7.5m last time the remained a 500k up front profit fee to the wonga's
we had around 11m on the books and rising revenues (nil pre 2021) plus an extra
$20m mezzanine available on the debt loan Atomic deal
Immediate funding as he said 10 days before announcing the last one, should not
be imminent BUT for another Arty steal of a deal (cuda/other wyoming) might be
worth it , just would like to see him raise HIGHER not lower 32P, much success on
the ground then slam dunked lth's again with 20p ffs
:))
Wish ppl would say ppl are worried about a fkn placing… no one’s worried. If anything it’s trying to understand logically why we are locked in a price range.
I’m not worried about a placing. At all. But no one can explain why we are not even close to fair value on Atomic..
Great post wiseoldfool . We’re sitting on the motherload of all oil and (some) investors are worried about a bloody placing - the amount of oil we have a placing wouldn’t touch the sides. This is monumental and it will be announced and confirmed very soon. So far Art has picked up Atomic for a song and then discovered 1.9B bbls of oil- and the great and the good are worrying about a placing. When you have no oil, it’s the only source of income. Takes time to build capital. Art will make you all very rich if you sit on your hands. If you think otherwise - sell. You can’t make it up! Buy, buy, buy it’s really that simple! GLA
I did beetsy :) but when we will be paid back from cuda, can we afford to take out another loan or use borrowed funds on low production figures? Cash in the bank is not enough to fund a drilling campaign I don’t think?
If we want to get drilling in august we need to be paying for it now!?? It takes time, more than ppl think
Wookie
Read oldwisefools Post.
The last CR was in respect of CUDA, however we will need additional funds for drilling post August unless we go down the FO route.
I don’t want a placing WOF, but I was concerned looking at trading that we MIGHT have been seeing one snuck in, but only made worse by the fact it happened the same way recently.
Which is also why I think it’s unlikely! but I make no assumptions with COPL.
I also think if the money is spent on CUDA, and it turns out we got outbid after the last raise we MAY need more to offer..
Also we MIGHT be thinking, we have this great big discovery and let’s do a raise right now to fund 2-4 new drills asap and get producing now to further prove its recoverable and then, thus use that huge uplift in production to push on with more drilling. 51 miles is a lot of ground to cover after all.
We will need a JV or some serious uplift in our already producing wells to afford ( assuming we buy CUDA ) more infrastructure, which may also mean upgrading existing pipeline etc. And if Art wants to crack on as stated then it’s possible.
HOWEVER, if it was me I would release that CPR, get the sp to rise then do a fund raise on the back of that. IF needed.
So I suppose what I’m saying is, it’s a question of
Do we believe we have enough money to both buy CUDA and fund new drills on the new discovery as indicated this year AND keep power dry for the borrowing requirements / security buffer?
I do not believe at all a placing would be for anything else other than bringing a faster return. Let me make that clear. The only argument for one, I believe is going it alone for now.
The traders get so desperate once they have taken their 2% gain they go on a deramping campaign in the hope of re-entering few pence lower. It cant be good for their mental health .
Constant talk about placings again and again. People on this board need to stop allowing the traders to control the narrative, it is plain and simple to see.
Think LOGICALLY about why we need a placing at this point in time. Heres are some reasons why we DON'T;
- Raised $8mil for CUDA, if we don't succeed in our bid we then have this at our disposal for CC and BFU (with the new discovery, CUDA is no longer an essential purchase)
- We have the $20mil accordion facility we can use
- We have $4mil owed by CUDA which, if it is sold to somebody else, will need to be paid to us and will be sorted within the next 2-3 months
- Drilling FED Deep isn't until August, so no requirement for funds on this for a few months
- Cash in bank at $9.5mil as at 30th September 2021
- CPR likely due within the next few months which would add value for shareholders (if there is an imminent SP increase where is the logic in raising right now?)
- Further works at CC and BFU on hold until CUDA sorted
- Potentially a JV to come
Add to the above that we are not seeing the typical behaviour from placing shares, no large balancing trades at the end of the day and shares not selling very often in huge numbers over the past few days.
Now please, Ironside and all other scaremongers, give me some reasons for Arthur make a placing at this exact point in time.
Need to see 40 broken to pieces
been rangebound 17p to 40p since December 2020, then we can finally start
to believe , the manipulators are done and we can move up, Up and UP
;))
One foot into the 33’s and 5.77% blue
33.5 being paid. Nice.
33.5p paid
32.96p, I think it wants to flirt with 33p
wish we all had a quid for that one also
for the past year lol
HAS to happen one day , undervalued by a few bags on the original deal
now added a mere couple of billion barrels on 2 new discoveries the
Dakota and the Frontier 4
Now totally disconnected from ANY oil value or the poo STILL , never made
a difference YET , production doubled , poo more than doubled and still we
WAIT for something , anything to be factored in GLA
:((
Mms ready to let her blow.