Member Info for ART123

It doesn't help that communication is very poor.

Excluding results and studies and surveys, there have only been two operational updates in the 5 months of this year so far and one of those was on AGM day.

Noble Helium, ASX listed and also in the same basin in Tanzania and with 2 drills already pencilled in for Q2/Q3 2023 have a much more modest m/cap of about £20 M.

I forgot to mention they also did a placing last year on 16th April, which was midway ish between the appointment of the drill contractor and the mobilisation of the rig.

And the m/cap is still a hefty £55 M which is high for an exploration company especially when drilling is still 4 or 5 months away.

And of course they have the perfect excuse to sit around and do nothing and draw a nice fat salary - blame the current climate and Covid, etc.

Last year this was a well-oiled machine. The drill contractor was appointed on 22cnd March, the rig was mobilised on 29th April and drilling started on 14th June. Most of these dates have now passed and they are still talking about securing a drill contractor with the dates slipping back continually. This is very poor and the way things are going they may miss even getting one drill done before the rainy season.

Until a rig contract is signed there is no guarantee that a drill will happen this year. The rainy season start around December. Updates are very few and far between and when they do belatedly appear they bleat on and on about the drill plans but put the start date back every time. Not good enough.

Drilling was originally planned for Q2. Then the interview for the Irish News some time back then mentioned Q3 and now today this has slipped back further into Q3/Q4:

"The Company is in detailed discussions with both a rig operator and service companies with the objective of drilling the Tai prospect in Q3/Q4 2022, before the commencement of the rainy season."

with still no appointment of a drilling contractor.

This is very poor and time is being wasted for no apparent reason. I'm surprised the share price is up at all today.

Hardly very wise considering the collapse of the wholesale gas prices in the UK. Forum obviously saw a chance to exit and grabbed it.

https://www.thetimes.co.uk/article/glut-of-gas-in-uk-drives-wholesale-price-down-to-pre-crisis-levels-pd5s5shzk

https://www.economist.com/britain/2022/05/19/wholesale-gas-prices-in-britain-have-collapsed

So Vast have let Atlas keep the 241 million shares at 0.27p that should never have been issued as the money had been repaid as long as Atlas now repay the "overpayment" on cancelling the Loan Notes.

It's certainly not going to be a short squeeze - in fact it's the exact opposite.

Of course Atlas will repay the $800,000 as they can easily sell the 241 million shares for 1p or more to make a massive profit.

No wonder there is a second sweetener RNS to try and keep the share price up - even though the only ones to benefit will be Atlas.

Well there is no point in arguing about it. I didn't say anything when the share was still live as I didn't want to be accused of influencing anyone. We shall see what happens here in a few months.

ATB

Good for you. My opinion is that there is zero chance of this RTO going through.

Oh, and on re-reading the RNS I had missed this one:

"The Company has also discontinued all technology development of previous operations."

so that was a lot of waffle too!.

The suspension then was on 16th November 2016 and the acquisition was terminated on 16th March 2017.

Apart from that the real problem here is that the value of the listing - even on the Main Market - is not worth a lot, and certainly not the £8 Million that Aidan has previously claimed (though it would be very nice for him if it was considering his big holding), nor even more which is what 45% of £30 Million would be.

The listing in itself is pretty well worthless, or just a nominal value.

Alternatively there could be a vast low priced placing to support the former Big Dish's part in the RTO.

Here is the link to the Nyota Minerals chat. The RNS's are still on there too.

https://www.lse.co.uk/ShareChat.asp?ShareTicker=NYO&share=Nyota-Minerals

I'm not holding here and will be interested to see if anything comes of this. A previous RTO between NYO - Nyota Minerals - and Big Dish a few years ago never happened after several months of suspension (that was before Big Dish did their vastly over-priced listing).

It turns out the Big Dish stake in Amala Foods has been disposed of for USD 277,488 in cash which says a lot about the real value of this company.

Is the Main Market listing worth 45% of the new company - I very much doubt it. In fact it isn't worth much as most of the cash shells involved in RTO's know.

Also Aidan Bishop is to stand down but he owns something like about 20% of the old company.

If the RTO doesn't happen than I fear that Big Dish will remain suspended and no-one will ever hear a word from them again, which is what happened to Nyota Minerals, of which Jonathan Morley-Kirk was one of the directors. The chats from NYO are still available to read on here and I suggest some of the posters here read them as that is a reflection of life in the real world, rather than cloud cuckoo land which seems to have taken over here.

ATB

There has been a huge heightened awareness of the true meaning of a safe environment of late as anyone who owns or has owned any shares in any company operating in Russia is aware.

This is now something that is going to be taken much more seriously from now on.

Very strange share this one - and some very strange posts and posters.

Since the announcement on Wednesday there have been 37 posts, 19 of which have been by me and yet I claim to have never heard of the share before the RNS. How odd is it that most of the regular posters on this board just haven't even bothered to post anything since the announcement on Wednesday. That is weird.

Also for your information, I don't own around 1% of the company - am I the only one who doesn't?

In fact, I don't own any as I have bought and sold twice this week for a modest profit but as there is so little interest here I just can't be bothered.

Besides, I think I shall wait and see what happens with the elections at the end of the month. If Petro wins the share price will probably tank on just worries, even if he eventually does nothing to deter the oil and gas sector. I certainly wouldn't want to be stuck with a paper loss here with questions like that in the background.

ATB

The problem here is that this share is so far under the radar that it is very difficult for the share price to rise. There wasn't a single post here yesterday and it was only the rise in Canada that has kept the interest going at all.

Out of the 13 posts today 10 have been from me, which makes me look a bit of a ramper here but the truth is I am not as I had never even heard of this share before reading the RNS on Wednesday.

Let's hope that Canada is on the move again today. The SP peaked at CAD0.335/ 21p equivalent yesterday so maybe Zak Mir lower target of 24p/ CAD0.385 is doable.

https://www.youtube.com/watch?v=7c6iJIXkLN8