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My most significant two concerns are: 1. Once the share price consolidates, will it fall dramatically as 50 to is a massive consolidation? If so, is it best to wait for it to consolidate and buy-in, as the SP usually falls after consolidation, and will there be another massive share issue once it's been consolidated, rinsing and repeating the retail investors once again? 2. Will the drill go ahead with Chevron, and if they do, what are the chances we will find oil? It is a MASSIVE gamble. I don't care what Willec and his campers say. It's a binary position. This is the last chance saloon for CEG. There are no other plays, and they are the last cards on the poker table. It is either a winning hand or a busted flush. Willec goes on as if we have already found oil in the billions. GG
GarryGraham
Posted in: CEG
Posts: 724
Price: 0.1425
No Opinion
RE: Added12 Apr 2024 12:01
I have added to my load today and intend to add further. Im balls deep anyway so a few grand more is just going to bring the average down and if the miracle happens my Grand-daughter is looked after. Its only money lot's more important things in life. GG
GG - as you are ‘ balls deep anyway ‘ I can see this consolidation is a worry for you. Have you sold out in the meantime with a view to buying back after consolidation has adversely affected the SP - if so are you worried that positive sentiment in the intervening period might negate any potential impact from consolidation ( if , indeed, there is any at all! ).?
I don’t think the consolidation will do too much to the price, you’re right though it’s a huge gamble. I do think it’ll continue to rise though. If and when the deal with chevron is signed we should get an increase, if and when there’s a deal for OFF3 there should be an increase, if anyone else finds oil in the region then that should of course be another increase in the price.
The risks are obviously an issue although the cash position is hopefully good enough and the board have vehemently denied that there’ll be one (all credibility lost if there’s another). As well as of course there could be no or only limited oil.
The risk and reward are both huge on this one.
GarryGraham - are you sure this share is suitable for your risk profile?
Incendros - "I can see this consolidation is a worry for you". 23.04.24 11.03
Trust me, money is not a WORRY for me. I say this not because I have an abundance of it but because everything in life is more important than the worry of money. I, for one, certainly don't worry about a share consolidation. If Chevron, on our behalf, finds billions of barrels of oil as investors, our children or grandchildren will probably have an abundance of money. If they find nothing or Eytan Ulliel and his board of directors screw the retail investors, we all lose our money, and our millions of shares are worthless as they pretty much are now. But worry, no, I don't worry about money, and you do not know me or my risk profile. GG
Garry, you're very good at stating the blindingly obvious downsides of this or for that matter any other O&G explorer but I haven't seen mention of the potential upside unless I'm missing something. You are correct in highlighting potential issues but most of them apply to any share or investment. Most people on here haven't done enough research and their naivety is exposed in their posts. This is and always has been high risk, high potential reward and as long as you've only invested what you can afford to lose, does it matter? Rather than asking Willec about future potential oil discoveries and share prices why don't you do your own research and answer your own question? It's pie in the sky at the moment, the point being that CEG are now clearly on a pathway that is likely to produce value for it's shareholders, IMHO, the trick is to get out once you've made a decent profit and the reality is many people have already done so since last October/November during the lows even if they "only" left with 2, 3 or 4 times their money, it's already been a brilliant investment for some. Before JohnBriggs or some other muppet pipes up that has been easily and demonstrably achievable, it is NOT a fantasy scenario!
While we’re on the topic of blindingly obvious things—Garry is a troll and likely alt account.
Funny how they always want to tell you their life stories…
GLA DYOR
Was there a specific RNS about consolidation? it said shareholders had voted, did I miss it?!
Hello Andy, the consolidation issue was mentioned as part of the Charlestown news. Nothing has happened yet and shareholders haven't approved it, but it is a condition of Charlestown being able to do the deal with CEG when they want to turn the convertible loan in to shares. Their custodian can't invest in companies with our current share price therefore the need for at least a 50:1 consolidation. Details on the CEG website under "Investors" then "Regulatory News". Hope that helps.
GLA.
Hi Andy - thanks to jbt for his answer.
The confusion arose because Eytan just listed the requirements of Charlestown for conversion of the loan into shares in the RNS - I can see how it can be construed differently but it’s clear now shareholders will get their opportunity to vote on it.
JBT, In4: Thanks very much, I thought that was the case.
It makes perfect sense for a consolidation and reduce the shares in issue. This all looks to be gathering a bit of pace now and I'm tempted to add a few more shortly.
Anyone else considering similar?