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What makes you say that dixy?

The whole way this has been handled is obscene. Peterkin and his ramping, the way he released the interims the day before the news. Then the way Canarvon started bleating to some grubby media outfit immediately after rubbing salt in the wounds.

Feels like Canarvon took Advance for a ride with trumped up seismic data that was reinterpreted by some shady crew so they could have a free drill. The way Canarvon have played it, it looks to me like they knew this was more of a 20% CoS rather than a 85% CoS drill as it was sold to Advance and retail investors. I'd like to know if Peterkin was in on it, or if he really is as clueless as he looks

Whatever has gone on here, something really stinks. Investors deserve some justice. I'll pray that there is still a pleasant surprise to come for all those who have been hurt by this disgrace.

...........This stock should be suspended until clueless Peterkin and his useless friends formulate at least some vague idea of what they intend to do. As I said a few days ago when people were piling in at 1.1p, it was likely they'd be down 50% too by the end of the week. This stock has robbed decent people of their hard earned and is continuing to rob compulsive gamblers who are piling in not on the companies fundamentals, but on the fact it's fallen 90% and it "should bounce".

For the good of people who are massively down, and for the good of people who are tempted to get in, this stock should be suspended. If they do pull something out of the bag, then the people who've lost big may get something back when it comes out of suspension and won't have the heartache of selling at a massive loss now only to see it go back up in a year or two and feel doubly upset. Allowing people who don't know any better and those who can't control their gambling addiction to throw money in down here is helping anyone either. The FCA should require greater regulation on material news releases and major share price movements. Allowing stocks like this to trade at a time like this is absolutely reckless and brings shame to the LSE and the regulators.

..........Peterkin in the interview with Malcy actually said these words when questioned about the Buffalo asset:

"People always say to me, how do you find these things? Well, it's just a question of experience........(Smug look on his face)"

What a ******* he really is. Listening to all the "we only plan for success bit" too, tells me he's absolutely clueless.

........More like a bottle of Buckfast chilling in a toilet bowl.

.......Shareholders should be getting together to get Drayson out. What he's doing is here is absolutely disgusting and shamelessly blatant. If this funding goes through he will have the power to force through any deal, on any terms in a few months time with his new chums who've provided this funding more than happy to vote through whatever he wants. Who's the mysterious debtor?, Where is nearly £3m a month going? IMO this is a totally manufactured situation to suit him and his grubby friends. If I was invested here I'd be getting an action group together and ringing around all the major holders FAST.

As HD2U said, neither company has ever stated January. That's just a conclusion people here jumped to from one person calling Vatic and a representative APPARENTLY saying it COULD just maybe be available in January.

..........Best thing the company could do now is suspend this. Become a proper shell with some decent tax losses and about £1m cash after paying all the vultures off. Have a think about what direction they want to go in and don't rush into anything.

Judging by the way they've handled this though, I suspect the only thing on their mind will be doing the same thing all over again. Discounted placing and all their eggs in one basket once again for another drill 12 months down the line. How do these people get these jobs. It's laughable.

I see people defending the board, but look at the situation the company is in. You shouldn't have a company set up so that it plummets 90% on one bad drill. It's reckless and ridiculous. The height of mismanagement. They need to face shareholders now.

It hasn't been delayed from end of January to end of Q1. The last RNS said completion DURING Q1, not by the end of Q1 as you said. It could still happen in January or early February yet.

............The company has maybe £1.5m in cash, £2m at the most as far as I can tell. There's no painless way out of the hole they've dug themselves into. They have literally nothing else, other than things that will require a lot more money to explore. The true value of this is between .15p and .3p at best in my opinion as things currently stand.

..........Only noticed this stock was down at 18p this morning. Couldn't believe it when I saw the price. Not sure how I missed developments here the last week.

It looks to me like they will run the funding announcement to the wire to crash the price further. What the board have done here is obscene, and what they're attempting to do should warrant outrage. Another example of the FCA allowing scum to run publicly listed companies, ruin them, then letting them strip away all the assets on the cheap. What do you want to bet that once this company is taken private Drayson suddenly discovers a way to not burn through almost £3m a month and the mysterious debtor pays up in full.

Put your money where you like, it's your money. I for one have little interest in most covid stocks today. I'm just here for the value that's on offer.

As far as covid goes, maybe it's over, maybe it isn't, maybe it never even began and maybe it'll never end. If the big hitters want the pandemic to continue, it will, and if they want it to end, then it will. They declare it's almost over after every wave, shake the stock market, then roll out the doom mongering again a few months later with a new variant. After what I've watched unfold the last several years, I'm extremely confident I'll do well here over the next twelve months.

Avacta's focus is 20% Covid and 80% Other, but it's market cap is 80% Covid and 20% Other.

As Steve says, CVN had almost as much as the entire market valuation here prior to yesterday's drop wiped off it. They have much better prospects and income too. This situation is dire.

Don't get ramped into this. ADV has no other prospects without raising funds, and has just £1.5m-£2m in cash. Current market cap is almost £8m still.

People are clutching at straws comparing this to CVN. CVN is an infinitely more secure company with many deals lined up and cash in the bank. ADV needed this well to be a success or face being literally broke and needing to raise money.

It's quite possible bottom feeders and traders buying and selling several times found the money to trade the entire company yes.

People talking about 1000bopd being enough don't seem to realize that the costs in extracting oil offshore are vastly different to the costs of extracting onshore. The cost to extract small amounts of oil offshore don't usually warrant the effort.

............The market makers set a trap for traders expecting a bounce today.

If it was going to be a proper cash shell and change tack there could be some interest in that, but you know what these O&G guys are like. CEO's like this don't have the drive or concern for shareholders to do something different. He'll just raise more money at a deep discount to drill another well 12 months in the future. So long as he's getting his wage while people sit waiting for something he'll be quite happy.

.....The traders and bottom feeders are going to get burnt here too I think. Fear will probably set in come 4pm. A £9m market cap with nothing else in the pipeline and just £2m at best in cash really isn't good. People getting seduced by how much it's fallen and not considering reality. When the duster confirmation RNS lands I suspect we'll see it trading in the .2p to .4p range.

.......IMO this will close nearer .5p than 1p today.