Member Info for Adw198

Yeah if you like Tenbag

You and that other clown WOS deliberately pretended Doc was being r a c i s t so I called you both cancers of the board.

One of you then said “you’ve just wished cancer on me” and I pointed out that up to that point I hadn’t. And then I said I did wish that, because your appalling and childish behaviour left my exasperated. Not my greatest moment but no harm done.

Now perhaps you’d like to tell us how long you’ve ran the telegram group and your motivation for running that and posting here?

Sorry Abzzba, if you’d rather us discuss the sandscreen and / or your completely failed production predictions we can chat about that?

Those people who are so confident about a raise not happening and regard it as such a negative just need to be honest enough to tell us their thoughts IF it does happen.

I’m not predicting doomsday btw - just that a tight for cash loss making AIM entity will need a raise. Even if I’m proved wrong it’s hardly a bold claim.

Hi,

Yes I agree he was never going to say he definitely wouldn’t, precisely because there might be one. But you directed Doc to listen to the AGM for reassurance that wouldn’t - I don’t know what bit you think gave a steer there wouldn’t be one?

I think he did guide that they wouldn’t be drilling new wells this year and would keep costs under control, but as I’ve said the cash burn far exceeds the revenue from H1 so something has to give. I do suppose they potentially hang on for a JV but I wouldn’t expect that to include an upfront payment so the bills still need paying.

@tt1981

MB was specially asked about a raise and given the opportunity to unequivocally say there wouldn’t be one. Instead he justified motion allowing a huge raise on the basis if there was one it would allow retail investors to take part.

What part of the AGM, or indeed the accounts, are you relying on to assert it’s not going to happen and isn’t necessary?

Heron 1 and 200bopd does not make the company self sustaining based on previous years cash burn.

People can disagree, that’s healthy but there’s not much substance or logic being offered by those who insist there’s no possibility of one.

There’s also potential work on one or all of Heron1, Heron 2, Gobi and Gazelle. Plus the new licences to fund and of course Opex from being a producer.

Fair play and well done Mal - that’s what it’s all about isn’t it.

(Although I don’t actually know what logic you applied!)

Just a reminder of MBs rationale for a raise last year.

“Our business is primarily one of risk management….We’d have been entirely reliant on 1 well in a basin known for its unpredictability. Any negative incident or underperformance would nave been a major concern for the company and raising money in an emergency and raising money in those circumstances would have been extremely difficult”.

But a raise allowed the company

“Fund ourselves for an exciting programme and improve the chance of higher production, higher revenue and have some back up in the event of stuff happening which occasionally it does”

Exactly the same logic could be applied this year. So the idea any can dismiss it the mere possibility without any logic or reference to financials is frankly just ramping.

I think it’s a bit less than that Doc.

I thought he quoted $200k a month at the AGM. He certainly said it was worth $1.1m having been on stream for circa 5 months. The overheads far, far exceed that.

On top of usual running costs they (apparently) want to carry out work on some or all of H1, H2, Gobi and Gazelle. Plus the new licences commitments.

A raise is therefore inevitable imo - unless a buyout lands before it’s needed. But bear in mind it took PC nearly 3 months to sign an agreed contract. I can’t see them moving too quickly just to bail out MATD.

It would very prudent to raise especially whilst the SP is doing better. His logic last year was almost identical - they didn’t want to be reliant on H1.

“And Adw if he hadn't been scared out of his wits by a MM shakeout over winter - when he said he sold at 1.8p - then he would most likely be in profit by now, or at least at break-even, rather than taking a 4K loss....”

I sold on the bad news. The SP has been under my sell price for an overwhelming majority of the time. It’s now circa 15% above. I said it was go higher at some point and as recently as yday I said I might buy back because it appears they’ll be getting good news (payment received) released before the bad (discounted raise).

I’ll buy back after that if it looks good at the time. And if I’m wrong it won’t be the first time and won’t be the last. I can live with that.

But you let me know when you hit break even on your 6 year investment mate.

I’ve criticised others for announcing a filter for attention, so I acknowledge some potential hypocrisy. But I’m filtering gravy for the sake of the board. I don’t have the discipline to ignore his constant and relentless goading obsession with me. And he never comments on the company.

As a beneficial selfish aside - it’ll drive him mad! My only current filter, what a badge of honour for a 60yr old (allegedly) educated grown man.

“Ok, if you don't accept that you are a basher.

What would you like to call yourself.”

Doc is probably a disgruntled shareholder who doesn’t think making some sceptical comments on a message board full of loons will impact the SP. There’s a chance he could be trying to talk it down because he’s being paid 50p a post to do so as you lot like to claim. The adults will have to decide for themselves which theory is accurate.

Here’s just a few of today’s snippets from our Thorn. Obviously not on this board, where he is invested, but on AVCT, where he isn’t.

1. “Remember those happy few days/week after the last raise that the board united in their re-evaluation of the input of the 'Three Amigos'.

The grudging contrition and acceptance that doubting voices perhaps had a role to play in ensuring a degree of balance and common sense?”

2. “Talk it up big and when it turns out that you were wrong just don't mention it but talk about something else even bigger.”

3. “The talk here is always of the mythical Red Dot where all troubles suddenly cease and the SP bags within the first hour.”

Compare and contrast to his approach on this board of

1. Dismissing the possibility of a raise and attacking those who do.

In a sewer of a board, he might just be the biggest rat of all. Albeit more subtle.

Perhaps some of his mates could ask why he posts on a company he’s not invested in - isn’t that again your rules?!

Can you give a single example of Doc or me “bashing” the stock, Gravy?

“MB ruled a raise out, remember...”

Exactly Doc (Dad)!

Aside from the fact that as the grown ups know he definitely did NOT rule it out, but infact specifically explained he passed a motion that would allow Retail investor lemmings to take part in one. Subtle!

“Nice to see the criminal stockbashing gang have had to pipe down. Just the random greenboxed straggler it seems, similar to those Japanese soldiers from WW2 who carried on fighting futiley for decades after hostilities had ceased because nobody told them not to. Hahahaha“

What a reaction to the SP hitting the dizzy heights of *checks notes* 1.925!

I think PC would have to be the overwhelming favourites in a JV or (especially) full field takeout. There were certainly some not so subtle hints on that score from MB. The counter argument would be why they’d (eventually) sign a deal to sell our oil and give revenue if they weee simultaneously trying to buy the field?

I still think the plan is to increase H1, try and salvage some promise from 1 of the others and then market it for a much better price. Any offers now would be reflective of the (poor) performance of the first 2 Heron wells. Probably why he told us not to expect anything this year.

Personally I tidy my house before putting it on the market. That’s what happening here as I see it.

It does look like the next RNS will be the “payment received” and ops update. I actually considered buying earlier on that basis as it’ll go up imo. Too risky tho given the pressing need for a raise at some point in the next month as they won’t get a generous (dodgy) Going Concern sign off again.

@doc

It’s one thing to be disingenuous and / or misleading to us mug punters - it’s pretty much the role of a CEO.

But this comment in last Junes result might be a better example of dodgy and misleading comments

“The Directors have prepared a cash flow forecast which indicates that the Group will have sufficient cash to meet their working capital requirements for the twelve-month period from the date of signing the financial report”

A week later they felt the need to raise $9m.

I’ve only skimmed the board as I’m watching the footy (;), but is Abzzba being self deprecating when he says

“this is typical de-ramper tacticts to disrupt the board, much like the constant 1p incoming, raise incoming, usual crap from crap poster“

The same guy who has repeatedly given absurd price predictions and currently has “5p by June” in the Rampers sweep?!

I think you’d struggle to find more than a handful of posts saying 1p was coming. And none by any of the grown ups.

Whoever anyone likes / hates and whatever anyone thinks of the prospects here, 95% of the price predictions come from the rampers and are ludicrous.

This was the justification for the small matter of a $9m raise last year. Almost all of which is true now - they just have considerably higher overheads.

“Our business is primarily one of risk management….We’d have been entirely reliant on 1 well in a basin known for its unpredictability. Any negative incident or underperformance would nave been a major concern for the company and raising money in an emergency and raising money in those circumstances would have been extremely difficult.

But a raise allowed the company

“Fund ourselves for an exciting programme and improve the chance of higher production, higher revenue and have some back up in the event of stuff happening which occasionally it does”

Investors other persona saw it differently before he apparently filtered me - but stills seems to be to appraise my posts

“I tend to agree with your take on the likelihood of another raise post H1 and H2. I used to argue with someone called ' professional ' on here on the grounds that there wouldn't be another raise following the granting of the LP. Well, I was wrong, and it taught me a lesson.“

I strongly suspect you’re about to be taught another one

What on earth does that even mean?!

It’s what you referred to me as - just because Doc accurately called out Tenbag for only giving half my quote. You even felt the need to police that. :)

Does Mrsgravy know this is how you’re spending your evenings?!