The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Regarding the recent £4 million placing, I suspect the only institutional investor willing to take that on would be one that has some control over the sp. I suspect an MM, and last time it was strongly rumored to be JBER. The only positive with that is that the sp is unlikely to dip below .2p whilst they hold shares.
You are quite right the number of shares issued has reached saturation point now until the cash earned is ploughed into the business instead of paying ss bonus's and inflated salary . The market cap of around 20 m needs to increase substantially to support the amount of shares . Looking at some of the messages on here mentioning consolidation of 100 is not realistic. There will probably be one of 10 which would reduce the number of shares to approx 1 billion and your 1 million shares to 100000 @ approx 2p. This will allow bigger investors to buy in and hopefully increase the share price. Wait and see.
Agree, TrollHunter2, think investors can begin to relax.
Who would have thought, just a few weeks ago, that Brent would now be above $40? The oil market backdrop has improved astonishingly quickly.
The relaxation of coronavirus restrictions means activity on site should be picking up markedly in the very near future.
The 2nd placing, just 5 weeks after its predecessor, suggests that offers of funding continue to be made to the company, that those with funds continue to rate the company's prospects more highly than the market does at the present time.
Those are some good questions Rusty. I don't have much hope that we will buy maybe we'll get some answers at the AGM.
As investors we can only be told anything at the same time as the whole market but I think sometimes CEO's hide behind that regulation.
SS is certainly no PR man. Good or Bad that means we have to wait for actual delivery rather than whats occuring.
I obviously hold out hope for this company. We do have oil flowing and we do have a long list of assets to have a crack at.
We are at an inflection, and have been for some time. HH-2z is supposed to be the proof of concept that they can deliver...... so they need to. Although it is not exactly binary because of all the other assets, it does seem that HH-2z success is the make or break of the company right now. It's underpinned by HH-1 though..... a 25year plus production well....rates still to be revealed :-)
GLA and try to relax this weekend..... an interesting couple of weeks ahead in the UKOG investor times.
Profit - worse performing aim shares - Val - lost about 98% value in 5 years - only good thing happened was shareholders dismissed ceo and partner and some light at end of tunnel.
I am mystified as to why any holder in this share continues to blindly ramp it when its clear that there are huge problems with HH and the company in general , and we are obviously not being told the full story by the CEO. I still hold some shares, albeit they are now virtually worthless.
Supporting this company through thick and thin does no holder any favours. We should be asking questions and holding the BOD to account for its persistant incompetence and bending of the truth. By justifying Sanderson it gives him license to carry on as he has done for the past 2 or three years showing total contempt for the people who pay his wages. If this were on one of the main indexes his head would have rolled long ago. II’s wouldn’t have stood for it.
A company is defined by its share price. So a persistent decline in this SP from 10p to .2p tells the whole story.
The questions that should be asked are, what happened to the Kimmeridge sidetrack. What happened to co mingled Portland and Kimmeridge production. What are the current flow rates. What happened to HH2Z and what are the flow rates. Why did Sanderson dilute this company to death by buying out the other partners for something that, as far as we know isn’t even producing 400bopd.
Why did Sanderson take a bonus when the company is on its knees. Why did we have two placings in the space of a few weeks for the same thing, (cost-saving expenditure)?
Many many more. The only thing capable of saving this are superb flow rates, and if we do have superb flow rates why isn’t Sanderson shouting it from the roof tops. Trust in the CEO and BOD has gone, and that is never a good thing.