Member Info for 3cardbrag

Trust me that will never happen. And if by some miracle it did, the proceeds are already earmarked for drilling LA109

I have by comparison approx 31500. Small by comparison to some but as Bingo will testify, size isn't everything.

"The RNS was much as expected but there were a few positives non the less" Had to read that twice. Did Bingo really believe in advance that this RNS would be so bad? Reality check required methinks.

"It is also quite possible we will see the Q1 Operations Update next week prior to the UK Investor Show" Yes it was Bingo. You would think even he would get wazzed off with being let down by his sponsor.

"Secondly and more importantly are the Dibamba Power Plant which is due by 2020 to have converted or added the facility to use Natural Gas producing 140MW with 90MW by January 2019 . Then there is Grenor Group which is planning to install 150MW of gas fired power generation equipment with 75MW by late 2018. This would give a rough figure of 60 mmscf/d maxed out, without Logbaba and Bassa in the equation! Hence why the SP is steady now, after the initial bad news regarding ENEO and Logbaba/Bassa temporary power plants" Yes it was Bingo. Nothing has changed since but the SP tanks. Wonder why?

Sorry I forgot, it is a family business.

And when you look at our current debt to turnover ratio, it scares the crap out of me. And completely ridicules the level of remuneration being received by Dik and Foo. Percentage wise, these are the sort of levels you would expect in a family business not a PLC.

Point is that 108 has already been drilled. The placing was for 109, the most unnecessary well in oil and gas history. But of course it wasn't, was it? The funds, as we all now know, were just required to keep the company afloat and appear to have all but gone.

Quote "A programme for recovery of the spent perforating gun and completing the clean-up and testing of the Logbaba sands in La-108 has been developed. This will be carried out when appropriate to meet gas demands". So as I understand it we had to raise 20million to fund the next drilling campaign (BTW where has all that money gone?) because we were so desperate for gas, and yet we don't need to remove the stuck gun until gas demand makes it necessary. Bunch of bloody sheisters the lot of 'em.

They must have a lot of shares they are desperate to shed

Absolutely right. The only crumb of comfort is the one new customer but the amount of gas they are taking, 0.07, is miniscule and hardly worth talking about on its own. Anyone know if we have an AGM date yet?

What's the point Biggs? It will just go on propping up inflated wages for a few more months.

Still at least we still have a positive Paranoia post to come later this morning. Be interesting to see what he finds positive in that.

Forgot to mention, after what, 9 months?, we have finally developed a programme to remove the spent gun but we can't be arsed to remove it!!!!!

What a pile of shiite fantasy. Company is in discussions with Eneo, Cameroon et al re power renewal. Company is in discussion with various companies re retail power. Company is in discussion with insurance company re claim-outcome not certain. Company is in discussion with potential buyers of Westmed. Company is in discussion with various potential CNG customers. Company is in discussion with 3 big power companies with a view to late 2020. Company is in discussion with the directors regarding alligning their salaries and bonuses with more current levels of revenue/profit. Nah, that one really IS fantasy. Oh and just to finish, the end of year gas consumption has gone down by 25%. Absolute pile of poo. Shame on you Foodik

RNS out

Sorry, no that was warrants, but presumably you get my point.

re "Although the placing is at a 50%+ premium to our last recorded buy, as Klueloss pointed out, the last placing we had was effectively at 2.9p, so it makes sense to make it slightly higher." Maybe the placing should be at 7.1p in that case to give a little succour to all those poor bustards, including me, who took the previous placing.

I'd rather you had posted that demand for GAS was up. Wait a minute, it is isn't it? "Unconstrained" in fact.

Good post. Regs 3c