Member Info for Antha

JB, I'm actually looking forward to SC's sermon tomorrow just to see how he can put a positive spin on that dreadful rns especially the "extra $15M funding needed or we're going bust" bit.
The SP is not really going to move much until the Interim Results and/or the coming dilution.

I agree it's all history now.

If only the company had the balls to go to Terminal Depth at P1 as planned and proved the field, it would have been all so different, more debt yes but everyone would be in substantial profit now.

And remember, the vast majority of that $15M will be used to pay legacy debts and of course the bod's wages, there won't be much left to increase production.

So the company has finally admitted it needs $15 million in additional funding in order to continue, there's no chance of any farm-in so the only alternative is dilution, at let's say 1p (a slight discount to last weeks low) that would mean:

$15M = £11M (current exchange rate) / 1p = 1,100,000,000 or 1.1B extra shares plus the 797M current shares = 1.9B shares in total.

Looks like another 10 to 1 consolidation is on the horizon, the big question is who in their right mind would buy those 1.1B extra shares (apart from SC and Willec) if's it anything like the last disastrous placing and Open Offer?

The rns today really does spell out what dire straits the company is in.

So far this share has been one big disappointment but I still think in time it will multibag from this level.

SC "However, if everything goes very well (Bahamas farm-in and/or future Saffron LC success and a full SWP roll out), I hope to get a 7-figure profit."

And if it doesn't then you're probably (highly likely) looking at a £500K loss, that's one hell of a gamble, I certainly wouldn't want to be in your shoes especially after recommending LGO/CERP/BPC/CEG to your family and friends.

This is definitely the calm before the storm.

Freddy Boy "Lots of upbeat news over on TG....any guessing as to why the trolls got themselves hoofed outa there ....."

Hmm let me think, could it be because the rampers bubble don't like to hear the truth, maybe all the clever one's chucked out can form their own Telegram group (rampers not welcome) so potential new investors can hear both sides of the argument.

"This extension is due to the continued disruption caused by the COVID-19 pandemic."

Just an excuse, it doesn't seem to be stopping other companies from releasing results.
It so obvious they're delaying because of the extremely bad financial state the company is in, I wouldn't be at all surprised if the auditor say's "not a going concern" within the next 12 months.
If anyone does decide to "invest" in ceg before the results are released they're either very brave or crazy.

Vascular, with the current lack of sentiment there's more chance of it going to 5p than 108p, I may take a small punt if it reaches my single figure buy in price.
Remember always take rampers posts with a pinch of salt even the so called well researched ones.

Kipper, so negative automatically means troll, if you decide only to read the positive then it's only going to end badly for you.

As for my involvement here I first bought in 2016 and luckily managed to exit before HNR's demise, since then it's just been hype with one massive P&D in March locking most of you in to become new LTH's.

So basically it's only open to positive comments, hmm very constructive.

* win

Good call fatal as it's now pretty much guaranteed she will SPOTY.

Good post Srdoddy, of course the bod need to provide honest answers to all those 25+ question, the problem is they don't want to or at the very least they will try and delay as long as possible as they know full well the sp would just crash.
However as Bohemia quite rightly pointed out the Interim and Final Results will be independently audited with all the available information as to wherever the company can carry on as a going concern, the bod can't hide the bad news forever.

Buy them after the Interim Results when they will be way cheaper, you'll thank me later.

Jono, my guess is that the funding has already been agreed with a certain Wonga lender and the latest Pump & Dump were the placing shares being forward sold, seen it countless times before so I expect a RNS in the coming week announcing the funding, then of course there's the horror show Interim Results which should be an interesting read.

LLL, don't feed the troll.

fatal, I seem to be recommending your posts more and more lately, it's good to question the bod on their past rns's and as you say a lot of good people got sucked in on their now obvious untruths (I won't say lie's because SC will just have it deleted).

Nice 29% rise for the day traders and a little hope for the lth's, but the real test will be the Interim Results this month and the coming Placing & Open Offer to help cover the debts, 1p will definitely be tested soon.