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Attract meaningful investment, LOL. That's what Willec was saying after the last consolidation... it's all there to see if you can be bothered to wade through his ramping tripe/records...
Here we go yet another tick up - heading north to 1p +
50 for 1 would be good here as at the current share price of 0.15p large institutions are not allowed to invest.
As a result of this at the current prices we will be 7p per share which will encourage more investment opportunity. Also I would say at the moment 10.39bn shares are in issue which is not healthy and after this we will have 207.8m shares in issue which is a lot better.
£1.5m unsecured is not insignificant, companies just don't do £1.5m unsecured unless they are confident on two things,
1) the money is coming back and
2) there is significant potential upside
As for a share consolidation, you'll never attract proper investment with this many shares in issue. IMO the consolidation is not alarming in the slightest.
Reading through the latest RNS, I am surprised everyone is making a big deal about it. Unless I am mistaken, CEG will receive a loan of £1.5m, which is convertible to shares upon request at a shallow rate. It's a 12% short-term business loan with stipulations that 50% is spent on Block 3, and the rest is working capital ( B.O.D.'s salaries ). £1.5m is hardly a significant sum of money, and one of the conditions that should alarm retail investors is 50/1 consolidation. Rinse and repeat all over again. In his last video, Eytan said he had no intention of diluting the shares again. Well, this looks like the first step towards doing so. Consolidation and then share issue, consolidation and share issue. Also known as rinse and repeat, rinse and repeat. Age-old format for low-cap AIM companies, which is tried and trusted to raise monies for the directors whilst rinsing the retail investors of all their monies. GG
All of your observations and ideas have no basis or rationale JB except to vent your spleen against BPC.
I would remind you that despite all your incorrect dialogue about BPC/CEG failing as a company in The Bahamas - They did succeed in raising monies against all the odds and did succeed in drilling a well against all the odds.
The ONLY failure they had was not hitting oil.
Well my friend that is oil exploratio0n for you and AIM.
Get over it and realise that you backed a duster.
Your fault no one else's!!
IK
Probably as misconceived as 99.9% of your observations and ideas, IK.
There's no demand for anyone to pay more - end of.
Still no answer.... LOL
Lots of buying over last couple of weeks but price struggling to move much higher.
I wonder if someone who is going to get 8%+ of shares @ 0.00168 might have a vested interest in suppressing the price until deal signed sealed delivered etc?
GLA
IK
P.S. I did mention a whale in the water a few days ago - could be related to above observation?
Www.malcysblog.com/2024/04/oil-price-challenger-petrofac-i3-and-finally/?_gl=1*wf4dk1*_up*MQ..*_ga*NTg5OTA4NDU1LjE3MTM1MjA0Nzc.*_ga_7W1EBHDKV6*MTcxMzUyMDQ3NC4xLjAuMTcxMzUyMDQ3NC4wLjAuMA..
I've been asking why would someone who was really invested in the share continue to believe everything the company says and be their resident cheerleader over many years despite seeing every strategy fail, multiple consolidations, and a SP that only ever goes in one direction, and that's DOWN (even after consolidation it reached ever new lows).
I never get an answer to that either and can only conclude the worst as it makes no sense whatsoever
I always ask the trolls why they are here if they are not invested and these individuals are so stupid they can not even answer this question.
Good Bye then Max. See you @ Xmas. Yeah right, you'll be on here every other bl00dy day with your waffle. Why ? Why would you if you're not invested? Just like all these boards filled with Negative uninvested or underwater Max's. Go get a life or therapy.
ATB.
Na this stocks dead all this hype warning signs are flashing, oil markets are sending a massive warning too. This has 2014 written all over it. I will check back on you all end of year, I doubt a lot of you will still be here.
Except you Willec you will still be here leading people off a cliff is a career choice for you.
Charlestown* Energy Partners
Willec - I’m thinking you’re dancing the Charleston whist eating your Cornflakes!
........and now monies from Charleston Energy.
The instituations realising how big this can get - MASSIVELY undervalued at the moment and an extremely STRONG BUY.
Don't wish to be out over the weekend as people begin to catch on to how good this is going to be.
BUY BUY BUY!!!!!!
Arrynillson19 Apr '24 - 08:18 - 21153 of 21154 Edit
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Disgraced Compulsive Liar 12bn - there you go again with your lying - why make up this shyte !
The Chevron deal is subject to approval from Uruguay Government, that much is true but why make up that it’s also dependent on seismic ?
Always the same 12bn - when you’re on the ropes you become more and more desperate - people on here know that - it’s why you’ve got a FILTER LIST LONGER THAN SCHINDLER!
I’m posting up below relevant paragraphs from the RNS dealing with the Chevron deal. The cost of 3D seismic is clearly not cheap, up to $15 million mentioned in the RNS.
Try and follow the logic here 12bn, before yesterday’s financing announcement you were telling us daily, sometimes multiple times daily, that CEG were rapidly running out of money. How did you think that CEG would complete 3D seismic, before completion of the Chevron deal LOL!!!!!!
· Chevron will pay to CEG US$12.5 million cash on completion of the Transaction, these funds will be used to support the further development of the Company's business.
· Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay.
· Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay.
Valaris rig on the move to drill the Argerich 1 well
https://www.linkedin.com/posts/offshorelinks-deepwater-rigs-analysis-news_the-valaris-ds-17-is-now-departing-rio-de-activity-7186633948993658880-s3S5?
Yes - some think this is the old CERP; but Carnegie, Maas et al, arrived since. And went to Uraquay to seek new opportunities.
They received 2 areas - (OFF-AREA 1 &3, offshore) - from a most cooperative government (no oil) and have out-thought many.
Now today, Wall Street chaps arrive - and take a stake (for cash) in a minutely analysed future in Uraquay, and elsewhere.
🤨
This share has it in buckets. With an indifferent history in previous incarnations, the company's new management, shareholders and strategies are impressive.
Jumped over many competitors by getting 2 Uraquayan areas - one now has an agreed farm-out deal to CHEVRON.
And the other areas (OFF-3) has attracted investors with the relevant expertise, finance and connections. Still speculative - but undoubtedly worth a punt!
Not gospel, but more than the keyboard warriors!!