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Zag can you explain why you think that this is a "Ponzi scheme" and are you sure that you want to defame CEG and Chevron in this manner?
MM's are basically desperately trying as cheap as possible so lowering the price on any excuse as they know these price will not last much longer. 6 and 12 months from now this price will look extremely cheap.
0.1425p (or after 50:1 - 7.125p) will be heading 30p + before long when 3D gets going etc.
2 smallish sells is all I can see. Total of 4.5 mill shares and price drops 3% ?
In4cedros:
Your post of the 4th June was probably the best yet disregarding the little barb about trolls. You have made your point on this subject and you really dont need to labour any further on this subject.
I agree with eveything you added in this summary and its too the point. You state its a very risky share which it is but the rewards are very high for those prepared to invest. I think it certainly is a different league to The Bahamas.
Best of luck to you and everyone else invested here.
Unlike your mate Willec who thinks its a total given we are going to all become super rich and the oil has already been found this post adds realism.
GG
Can't understand why JohnBriggs is still here - 'Waste of Space'
Well said in4.
Have you just re-emerged from the LSE sin bin, Willec? Best stay out of trouble chap.
Zag - ' fully funded ’ is the term used before Bahamas drill but it was clear to me that this was a best case scenario with little contingency for any extra costs.
Reality was extra costs were incurred, including the last minute environmental challenge, which required a response, necessitating more capital, borrowed on what I call lender of last resort terms. This would all have been quickly forgotten if the drill had been successful but the failure gave plenty of excuses for shareholders to moan.
Quite frankly, imo, shareholders were fortunate to retain any value after that debacle and should rejoice at the current turn of events!
You should take the time to watch the CEO video where he explains the Chevron opportunity - because CEG have an exceptionally large retained interest they can, if they wish, sell some to fund a good chunk of the drill cost.
That’s an option which BOD will consider, at that time - in the meantime there are plentiful opportunities for SP growth based on multiple factors, including, in the near time, results of survey conducted by Chevron as well as excitement from Argentine drilling.
Time for the trolls to wake up to the fact this is not a Post Office Account it’s an Oil Exploration share - certainly one of the riskiest sectors in the stock market- not for widows and orphans!
Nice to see ZagEgypt finally understanding how good this is to be for CEG. Another former troll finally understanding how big this is going to be.
In4cedos
Sounds like fully funded to me!!!!!!!!
Plus the Charlestown deal was at a premium 0.168 SP So why would they buy £1.5 million of shares at that price just to see them devalued ?
They wouldn't. Buy and invest or sell and jog on.
All the best.
Zag - may I suggest you read the Chevron and Charlestown RNS to better understand the financials here.
On completion of the Chevron deal CEG get $12.5 million so no immediate need for funds.
Charlestown are also very keen to inject cash into CEG and have agreed terms - they needed the Consolidation for their backers/ administration ( watch recent directors talk video ) - appeared to be a deal breaker so CEO has agreed it, subject to shareholder vote - disgruntled ex - shareholders/ trolls fortunately won’t get to vote Zag!
Obviously no need for placings, we will be awash with money soon enough!
So share consolidation for July so no doubt they will begin to do placings straight away. Rinse and repeat
New interview :
https://1lo.co/7c6K2
Sam Manbi - Thanks for the head up. A really informative unbiased and without opinion post. Refreshing to see on this bulletin board
GG
Just a heads up that the results for Argerich-1 are due from 3 weeks today until July 7th.
Key Expectations
Argerich-1 is targeting a deepwater area called CAN-100, located around 300km offshore from Buenos Aires province in water depths of 1,527 meters.
It is being drilled by Equinor in partnership with YPF (35% interest) and Shell (30% interest).
Drilling is estimated to take 55-65 days and is expected to spud (begin) in April 2024.
The well results could open up a new deepwater exploration frontier in the North Argentine Basin if hydrocarbons are discovered.
Conversely, a dry well could dampen enthusiasm for further deepwater exploration in the area.
So in summary, the Argerich-1 well is a high-impact wildcat that could potentially unlock a new offshore oil and gas province for Argentina if successful, but carries significant risk given the frontier nature of the play.
https://www.linkedin.com/posts/welligence_argentina-exploration-alert-equinor-has-activity-7193433788129988609-YAp5
The Comments section has some interesting insights as well.
Welcome back, farml123yahooc
Picked up some shares today here in the USA
As I’ve mentioned before it’s surely quite natural for a shareholder to be enthusiastic about his purchase whereas some might suggest it’s rather a disagreeable trait to troll a share because of historical losses.
Timid Trolling, sometimes categorised as Slippery Fish is off the scale ( haha! ) GG
Thank you Arch
Consolidation? 50:1 when Uruguay rubber stamps the Chevron deal and the Charlestown loan converts to shares
All the best.
I see on the CEG news we having a R/S but can not find when or the ratio.
anyone have any idea when
GG
That post really made me LOL. You can’t fault Willec’s enthusiasm! This genuinely looks a really interesting play, a classic boom or bust. If it’s boom it’s going to be a significant multiple bagger. That’s the gamble and I’m here for it!
DYOR