Member Info for Adw198

Luckyrambo following on from his alter ego WOS / Realpro / Spirit by making up quotes eg

“very very confident" of a deal.

If MB signpost us to where, it’s much helpful to the investment case than the nonsense about Indian entities. If you can’t point the quote everyone can see you’re a liar

“Those popping in to see what's what will conclude that something must be stirring.”

As if people a) make investment decisions based on how busy a board is and b) would read anything positive into the shameless ramping from you and your mates Thorn.

I suppose if I’d punted all my inheritance in here I might act like you if I thought people would be stupid enough to swallow it.

Abzzba just spamming with his same old

links and lies

“Adw (I am not an oilman) claims our three suspended wells are no good”

Never said that. Go fetch the quote if you can prove it. It was me who asked the company about the COS and then said it was pleasantly surprising - all whilst you were spamming us about an Indian entity who MB explicitly stated were not involved.

You and your fictional wife aren’t going anywhere in your fictional van.

The salary cuts are probably linked to not being paid in May and June (on top of the 30% arbitrarily withheld) for October - April.

In fairness, must be hard to run a business when you can’t rely on your only source of income. Fair play for agreeing, albeit I expect there’s more to the story.

Funny how he claimed him and Petrovis were willing to buy in at the full price but then only took fractions of last time. Absolute nonsense.

Good summary mlbeck.

The only remaining question is who is real and who is just played.

I know Dozzawba is real because he’s all over the internet. I’ve always assumed Thorn is real but just independently mindlessly ramping his own book, altho his latest little round of lies about what he sold makes me wonder.

On the fence about Proquo and Abzzba. They’re either the most subtle part of the gang or the thickest victims.

What a “lovely” thought!

Not for me Hamm hits the 🎯 but fair play on this one

“Yet another ramper shows up, this time hiding behind a new name to post here. Same tactics, different alias—trying to create hype without offering any real substance.“

Better analysis than Thorn back with his multiple ramping posts predicting a rise. I hope he’s more right than when he called 2p the floor - before selling out some / the majority / all (depending which version you believe) at 1.50p

Surprised no words of concern for your fallen comrades WOS, Proquo, Real pro etc etc etc etc though

And the overly defensive posts all hailing a CEO who is doing such a bad job he’s apparently just volunteered a 70% pay cut just makes it even more obvious most of the gang here are working with or for management.

Thanks for the oil commentary WOS aka Realpro, aka Spirit aka Luckyrambo.

Don’t forget the yarns about Middle East sovereign funds

I suspect they pretty much had to accept that or the bills wouldn’t have been paid. It’s certainly an extreme measure, hardly one that projects confidence. If I heard correctly they haven’t even yet agreed an alternative package by way of share options. I suspect we’ll find out what’s really gone on and why in due course.

I thought Mullins had already boxed off thickest post(er) of the day with his email complaint about posts he then said he can’t see.

But then, no, Abzzba steps up to claim “our CEO has outgunned them with the recent raise”. The recent raise we told you about and you all lost your minds about because you insisted it wouldn’t happen.

Incredible work lads

@ doc

“I thought they were taking 70% of their usual salary, not that it was cut by 70%?”

The RNS said

“agreeing to salary reductions of 70%.”

I’d taken that the same way as grey, ie a cut of 70%, but on reflection you might be right. I’m still intrigued who trousered the $500k production bonus and wonder if it’s linked.

I submitted a question about whether they were formal cuts, or just informally deferred. He didn’t answer that one.

Couldn’t agree more Mal!

I’ve bought, sold and now re bought.

And at every stage I’ve been attacked for giving honestly held and usually well researched views.

I hope we both make money from here, irrespective of whether you can back and almost immediately called me a t w a t!

;)

You’re talking a bit cryptically Mal. I asked why you sold and you twice said Heron 2 results. That was November and why and when I sold.

I’ve continued to post honestly since then, and wouldn’t you agree my more negative outlook was correct, given the SP crashed to all time lows, from which the raise I predicted was made.

You’re entitled to buy and sell like the rest of us. But a little more humility towards the people who foresaw some of the problems would be warranted wouldn’t it? Look at the abuse I received for having an opinion.

Anyway, funny I’m simultaneously being accused of switching sides yet deramping. As ever you lot don’t have a credible argument between you!

“Adw do you take notice of laughingstock?

I've found it best to use your own judgement !”

There’s not many I take notice of, it’s the worst board I’ve ever experienced.

You keep mentioning the H2 results, but you sold at the end of May didn’t you - which result are you referencing?

All very well coming out the bad timing lectures lads, but you were saying exactly the same when it was 2.70p.

Anyone who tried to discuss risk was roundly attacked, only to be proven right time and time again.

That said the risk reward at these depressed levels do look good.

Hi Unnd

Always good to read your posts.

Re “We do not know what the percentage is in this instance but my guess would be 50% stake in the PSC and a free carry up to $60m on future drills. That to me shares the risk and reward going forward.“

Could you elaborate on what you mean here, especially with reference to a free carry upto $60m?

Are you basically saying for the first $60m of drill cost we’d pay zero but receive 50% of the profit?

If so then what happens after the $60m?

I think it’s the PSC consideration im struggling with!

“Adw198, you seem quite desperate to stifle todays rise, very strange behaviour for someone that tells us they bought in, normally the invested are quite happy with the sp rising, maybe i am missing something.”

Well I just say what I think, I don’t think what says impacts the SP.

But out of interest what have I said that you think is wrong and or negative? I just set out how money can be made from 10 producing wells?!

Great constructive feedback Abzzba.

I don’t know much at all about oilfields, but I don’t know nobody has got it wrong more than you.

I’m not sure you’ve ever got anything right when it’s come to you protection. Nevertheless, to give us a laugh let’s have

your illustrative figures…

“I think Mr Buck suggested that we'd have a cash injection to fund enough wells for our share of produced oil/revenue to cover the ongoing costs of the full field development?”

He actually tbf Thorn. I thought it was odd and a bit confusing but yeah perhaps he’s just after an initial injection (let’s say 10 producers as I’ve just set out) and when the money starts coming in bin the partner off and go alone for the rest. That would be ideal, albeit I can’t see a partner going for that. Maybe though!

I realise it won’t actually “cost” a partner $4m for a producing well but that’s what we were told it would cost us so I’ll use $4m as a value.

I’ll estimate that circa 1 in 2 wells will be commercial - as this is what PCs field did (again I know this can quibbled either way).

Let’s say each producing well averages what Heron1 has, settling at 160bopd. Given it was the 3rd best well in history that’s very generous but let’s run with it.

Let’s also assume that the costs are broadly the same, ie that on $70 oil you get $40 profit.

10 producing wells would cost circa $40m, but then allow another $20m for 10 non producing ones.

So $60m gets 10 wells each earning $2.3m profit, so $23m a year.

Pretty good actually, albeit that $23m profit needs splitting. All for broad illustrative purposes!