Member Info for ART123

That's a pretty stupid thing to say. If it goes to 50p from today's opening price of 10p then you will 5 bag your money. If you short it at 50p however much it falls the most you will do is double up your investment. The potential returns are far greater with a rising share price than a falling one. Stupid.

One minute it was 13p to buy - then the next 14p and now buys going through at 14.5p. Up 48.65%. 20p incoming today?!?

A genuine rise with a positive RNS. 13p to buy soon.............

A podcast would certainly help if the CEO can be tracked down by Zak Mir or Proactive or whoever. Give the market some info about the asset and the farm out. This is quite progressed, with a CPR released last year and even a offtake agreement for the Helium (assuming they discover it!!),

Despite the seismic and drill costs not being huge, MSMN were never going to afford it on their own. This farm out satisfies all the requirements.

I see we got 1 post by ria20 earlier (10.52). If we get another 65 or so the share price might double up.

EP 145 has potential for hydrocarbons, helium and hydrogen. The Prospective Resource was announced on 24 October 2022 with "Best Estimate" per SPE PRMS of 440 Billion cubic feet ("Bcf") Total Gas, including 26 Bcf of Helium and 26 Bcf of Hydrogen.

Helium has a huge value these days - quote from google: "helium is 2.5-times more expensive than hydrogen and 100-times more expensive than natural gas".

840 million shares traded already and the RNS was only released at 10.30am.

By the way would anyone have bought in at 0.21p for a punt - it's not very likely. The volume was very low when the share price was in the 0.20's so there won't be much to clear anyway.

I'm surprised there is so little posting here today. This is bloody great news. The prospect is in Australia. They might even discover some Helium and look at all the interest and high valuations going on with the exploration companies drilling in Tanzania at the moment.

I haven't held shares here for years - actually since the New Zealand days - but this a great farm out.

ATB

Jona35 - maybe the wrong board???

This looks to be a superb deal (under the circumstances). MSMN have made no progress on their own and most farm in deals will leave the host company with about 25% anyway. Seismic and one drill with spends of AUD$2M and A$5M respectfully.

About Greenvale

Greenvale is listed on the ASX in Australia and has a market capitalisation of over AUD$30 million. The Chairman is Neil Biddle, who founded Pilbara Minerals that now has a market capitalisation of over $13 billion. Greenvale has a large bitumen resource in Queensland and geothermal projects.

Looking into the details of the PPP farm in to Horse Hill it looks like the Longstop Date was 6 months from the original announcement which was 28th March 2023 and that none of the conditions to progress the farm in have been satisfied so this too could be dead in the water.

https://www.lse.co.uk/rns/PPP/ppp-signs-farm-in-to-drill-new-production-well-eu8fvsyiic3az2q.html

Looking at the dire state of the finances at PennPetro, it might be possible that David Lenigas, Executive Chairman at PPP, could leave PPP and replace Sanderson and retake his old post at UKOG.

Not to mention that PennPetro (PPP), who have farmed in to progress Horse Hill with new seismic and an infill oil production well, has been suspended since 1st August, so far unable to produce the Annual Report and accounts up to 31st March 2023. They are obviously not in much of a financial position to pay for the agreed work to get their 49% farm-in.

Yes, I see that, so none of the warrants have been cashed by the management so as you said with over 5% new shares in issue and all of the warrants cashed in one go then there should be a TR1 some time soon.

The warrants were issued as part of the £310,000 placing of 124 million shares on 25th October 2022.

"Details of the Fundraise:

The Company will issue 124,000,000 new ordinary shares of no par value at 0.25p per share pursuant to the Placing. 62,000,000 warrants will also be issued as part of the Placing (1 warrant for every 2 new ordinary shares). Each warrant will be exercisable into 1 new ordinary share of no par value in the Company at an exercise price of 0.40p. The warrants will be issued by the Company simultaneously with the Placing, however they may not be exercised until a period of 6 months from the date of the Warrant Certificate. All warrants expire 18 months from the date of issue.

As part of the Placing and Subscription, Bolhassan Di ,Chairman, has subscribed for 12,000,000 shares in the placement with 6,000,000 warrants and two PDMRs have subscribed for 8,000,000 shares in aggregate with 4,000,000 warrants."

So 10 million of the warrants have been cashed by the management, the rest elsewhere.

The warrants being issued at 6 X less than the current share price is hardly exciting. The placing/subscription was slipped in as if it wasn't meant to be noticed. The overall - warrants plus placing/subscription - new issue of 71 million shares - around 6% of the shares in issue - is at a price of around 0.63p. With the share price at 2.50p that is quite a lot of dilution.

It looks like the placing has brought in £200K at 2.05p with 9,800,000 shares issued and the warrant exercise £246,500 at 0.40p with 61,640,000 new shares issued.

Drilling in 2024 - is that Q1, Q2, Q3 OR Q4???

Why do they even keep trying to get more oil from these old wells when they have an independently assessed near billion barrel discovery within their acreage. I bet PANR or 88E wouldn't be waiting around too long for a JV partner. And COPL can no doubt drill their own wells including fracking them for considerably less than PANR and 88E need to spend drilling wells in Alaska.

Even just as an alternative to throwing more good money after bad as they are still doing with the Barron Flats/Shannon producing wells.

Look at all the antics in Alaska where PANR and 88E have managed to pull off huge valuations (m/caps) and share price ten baggers all by just drilling another well into what they believe is a billion barrel prospect whether they have drill results and flow rates to prove it or not.

The billion barrel discovery here has been CPR's now for a couple of years so why not drill some more wells into it to see if they can get it to flow? Then they can go back for a big JV once the m/cap is in the hundreds of millions of $'s.