mufc, if you don't know why I specifically put HNR/ZOE/CHLL/? then you obviously not that intelligent (which was obvious anyway), the clue was in the question mark, i.e what will the company be renamed next, maybe back to an O&G company which after all is why must are here originally.
Arty maybe a great oilman and deal maker but he's absolutely crap at keeping timelines and updating his shareholders (you know the ones that actually employ him), maybe the threat of bod changes at an EGM will make him see sense.
Good posts, agree with everything you said and I've been saying the same since April when I finally had the sense to sell. What I just can't fathom out is why on earth people would keep holding and in some cases even buying more shares in an obviously failing company with massive debts and no leadership. There's just so many red flags here and it all started really when Leo Koots resigned just before the P1 results, I have two regrets, first not selling then and second not taking out a short.
That 13,125,698 share sell at 1.05p, if it isn't placing shares being forward sold then I dread to think how much that person has lost on that deal, could it even be SC selling up to put the money to better use in one of his three new business deals?
Ok, I thought I will do a SC morning sermon today as he seems to be too busy at the moment but this time in an ideal world scenario.
As everyone knows ceg is snowed under with debt whilst producing too little bopd to pay it off, they can only just about keep the lights on. So what to do? It's obvious the company needs a proper restart and I'm not talking about just a company rename and one of Potter's lackeys taking the ceo job (whilst conveniently Potter stays on the payroll), I'm talking about a starting again restart.
(1) full company strategic review (warts and all) (2) get a proper ceo in with proven experience (not failures like Potter and Eytan) and also a new coo (3) slim the bod and company staff down to the bare minimum (4) choose the companies single best asset with the highest roi and totally focus on that (5) if no chance of a farm out for the Bahamas asset (very unlikely) then try to sell it as a whole (licenses if any, data room, good will, etc) then completely write off the rest. (6) sell off all remaining assets apart from number 4 above (7) with the sale proceeds and what is left in the bank try and pay off all debts (the company MUST be debt free) (8) with all the above completed successfully and the company now an attractive investment, do a major placing with either sticky ii's and/or pi's to fully monetise number 4 above (9) release regular rns's.
It will probably never happen but that's what I would do if I was in charge or as a major shareholder.
willec, no chance on earth that ceg will still be trading in 15 months time (their cash burn is too high), they might just be able to get another placing away (at a huge discount) but if no pi's or ii's buy in to it then I'm afraid it's curtains.
As I said before, there's an oldblue in every share, someone who will be there until the bitter end still holding on to their precious shares even when it goes bankrupt as ast will surely do at some point after a few more dilutions.
I think everyone is laughing at you for being the last one standing holding the baby. As been stated many many many times before Slovenia does not want their gas extracted and especially by a foreign company, the sp is at this level for a reason and if you can't see why then share trading isn't for you.
oldblue "by the way im just under 1% off stock so pretty much a decent shareholder"
So that's why you're so desperate to pump this dead stock, you went all in and can't handle the loss. I suggest you go and read the posts from 3-4 years ago as nothing has changed or indeed been done in that time apart from of course the bod being extremely well paid for doing nothing.