Member Info for Adw198

Investor…who bragged about trading another penny stock and who has posted multiple times about how you need to sell on spikes now lecturing why other people can’t do that. What a loooooonatic

Koolkat has called out the company and behaviours of the LTHs perfectly. And has had the usual treatment.

So you think they’ll spend circa $80m to take 30% ownership on Block20, when the entire company is worth only $26m.

Won’t be happening imo

“parasitical behaviour” to buy and sell shares for profit. Absolutely incredible levels of self importance to think you’re owed a debt of gratitude for (accidentally) buying in at the wrong time!

I think that’s a very good summary, Koolkat.

Even a farm in deal won’t suddenly drop million in the bank. A partner would be taking all the capex / risk for further non commercial wells and even producing ones will take a while to pay back.

I’m still a little unclear how they’d formulate a proposal at a time when there are / were so many unknowns about H2 and Gazelle. We all said how Gazelle would make a deal more likely so it follows H2s continued failure makes it less so. And Gazelle itself is having issues, hence they can’t / won’t given any projections for it.

My understanding is we don’t want to pay for any of the well development ourselves, ie a partner funds it all.

Perhaps after a certain time we come back into though.

Speculation about what a deal might look like is fair.

But I can’t see how / why someone would pay $15-20m upfront and then have to fund 15 wells ($60m) to earn 30%.

I’ve assumed all 15 wells are a success there too.

Let also very generously assume they all produce like one of the better wells, H1 which apparently will generate $2.5m year 1

That’s 15 wells x $2.5m = $37.5m revenue, of which your suggestion they receive $11.25m in year 1.

If you were a shareholder of that company would you want them invest m $80m for that annual return?

Or would you rather they put a bid in for the whole company, noting the MCAP is currently circa £20m

Proquo tells us he a retired teacher living in France.

Unless his subject was “Arranging a farm in deal in Mongolia”, it might pay to give his take some caution. Especially given his track record.

That’s a good point, Doc.

I suspect it’s not a formalised offer. I won’t pretend to know how multi national farm in deals usually work, but it did sound very conversational. Also worth noting it sounded like the proposal came before the site visit. At which point in the process did Heron2’s latest failure come.

Yes it’s never been better apparently, BP!

The presentation did a good job of deflecting from the meaty news in the RNS:-

PC still not p(l)aying

H1 still declining

H2 still not producing

Gazelle - water issues no figures given

Only you know which I recognise. But I’m simply holding your own words to account. If you’ve lied in the past I am indeed wrong.

Thorn, you’ve admitted you’ve sold a few times this year. Or am I wrong?

I recall you telling us you’d bought at 1.90p and today you’ve claimed you’re in profit. So feel free to explain which of those statement is true

“Just sit tight and wait”.

You talk a good game Thorn but you continue personally sell down whilst encouraging other to do the opposite.

“From the time that Gazelle's oil started being extracted it has been generating free cash”

They won’t have received a single penny for Gazelle oil. MB said the best invoice delay was 100% late.

Did investor not know this (probably) or did he tell a deliberate lie to trick others. One for the FCA (probably not!)

This is what Proquo expected

“Looking forward to the Investor Presentation. Buck knows that he's going to get peppered with questions on the farm-in and farmee now so I'm assuming he's got news he'll be able to share. Possibly even another RNS before Tuesday?“

Nothing extra came, just more vagueness on Gazelle, H1 continuing its decline and no agreement from PC.

13% drop in the SP and he tells how happy he is.

Lovely indeed!

The usual suspects telling us great the presentation was - the market meanwhile marked it down 13%.

It’s a game of opinions and once again the rampers seem to misread it.

“Probably time for Adw to buy back in!”

I no longer confirm my buys and sells, but I certainly think it’ll be going lower. Whatever the reverse of a tree shake is we once again that last week

We know that historically winter usually sees a more subdued SP, albeit that was pre prod.

Realistically the news flow over winter will be flow rates (as mentioned H1 is decling, Gazelle was initially stated at 200bopd but appears to struggling). Hard to see any great news here, more likely is further downside.

The big one that could give a catalyst is the PC issue being resolved but obviously it’s not resolved. It’s now 3 months since the authorities allegedly sided with us and it’s still not agreed. Let alone signed - or then paid. They continue to pay late.

Farm in announcement could come at any time - or not all. The continued decline in production won’t help. If / when a deal is announced they’ll be a considerable time to get it over the line and then approved by the authorities. PC will also need to approve it as they’re our route to market - unless a partner decides to export it themselves (more delays).

This will inevitably drift down imo.

Did he really say cashflow positive?!

When he didn’t even know what income will be received and had to go off analyst projections?!

Astonishing that.

Cash flow positive means income > expenditure so things like the $500k production bonus (20% of the entire *projected* income need including. Likewise the $490k per year for the block vii commitment.

“We're a sound investment as things stand.Ignore the noise.”

I remember alot of noise about 4-6 producing wells, 2025 being the year of MATAD, sandscreens increasing the 200-300bopd from Heron 1 - and let’s not forget the massive news about the first 100days of 2025 seeing huge investment in Mongolian oil.

No wonder you sold out a few times Thorn :)