The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
indeed Charlie
TOTAL NET RISKED RECOVERABLE (Contingent Resources 1C, 2C and 3C) 27,826,000 BBLS
Frontier 1 : 23,747,000 bbls
Frontier 2 : 4,079,000 bbls
funny how the AIM jam tomorrow ******s love a BIG headline grabbing number, whereas I am pretty sure Mr Market looks at the here and now and just a little deeper
993 million barrels OIIP whoop whoop
28 million barrels RECOVERABLE doh
no difference there then :-)
Ffs what is it going to take to get my 20p back
some drilling to prove up all those deterministically and probabilistically numbers
OR
another 1,000 ramptastic posts over the weekend from the Butlins Bolton redcoats :-)
last time I looked they fill swimming pools with water
BUT maybe they do things differently in Butlins
quick someone tell the toppy grandkids :-)
PS
loving all these 'non industry' analogies btw
its comedy gold
"you can't polish a turd"
well that may be so rxdav, but you can definitely TRADE IT when said turd is continually promoted as being polished
IF anyone is in any doubt about constantly promoting polished turds whilst trading them just ask The Old Trout :-)
the thing is, IF and its a very BIG IF
this Smart Art business has (as you now claim) got this MASSIVE potential to earn more than all the other divisions put together I for one would like to ask the question as to why DC decided to sell it in the first place AND then subsequently agree to sell it for a million quid less at the bequest of some irate retail investor than was first agreed because IF what you say is true, nothing surrounding the timing, the raising of the money at 4p to pay for it or indeed the agreed and subsequently renegotiated sales price makes sense
OK you can call me a cynic if you want but looking at Smart Art past accounts and its recent valuations summit surrounding this 'massive game changing deal for LVCG the company' still smells
"If guys want to get mugged under 20p that's their perogative"
now why would anyone
buying 500k on a Wednesday @ 17.5p
27-Jul-22 14:34:10 17.50 500,000 Buy 87.50k
and selling them on a Thursday @ 19.08p
28-Jul-22 16:03:13 19.08 500,000 Sell 95.40k
be getting mugged ?
I'd say getting a 9% return (almost £8k) is not too shabby for a days work and a few rampant posts on a blog
retail investor rule number one
trust no-one, especially those who with red rosettes next to their name, with 10's of thousands of posts to their name or those that post 20+ times a day selling you the multi bag rag to riches mortgage free dream whilst always claiming they are holding long and strong, buying large or continually topping up
traders rule number one
be sure to heavily promote your buys in public but always remember to dump in private
after all its just business and all in a days work for some :-)
kept a log ?
for what... a half pence swing in the SP ?
for goodness sake, in case you haven't already noticed its Friday and the swing traders never like being on the hook over a weekend especially when they've got Butlins to attend
those dastardly MM's eh ?
me thinks some people need to get out and about in the fresh air a bit more :-)
28-Jul-22 16:03:13 19.08p 500,000 Sell 19.00p-19.50p £95.40k O
I wouldn't be surprised if its toppy up quietly offloading her 16.75p top ups :-)
lets not forget
she's got Butlins with the grandkids this weekend to pay for so don't be too hard on her
ramp ramp ramp and remember
its just business
no financial warning flags ?
"Additional capital will need to be raised to meet the costs of this technical work and to fund the Company's working capital requirements should a licence extension be offered"
"Any offer of such an extension is likely to be conditional on the Company demonstrating that it has sufficient funding to carry out a work programme and cover administration costs during the Licence term. The grant of an extension is therefore likely to be dependent on the Company raising significant further funds in Q3/Q4 2022"
"Tiburn, as a well respected poster, could you give your thoughts on today's news"
well respected ?
LOL you obviously haven't looked at his track record Jiff
Anglo African (AAOG) was an absolute cracker
a 40p (cheap as chips no brainer) and BUST
RNS sounds like they have been forced into fast tracking some death spiral convertible bonds in the absence of being able to meet certain (dare I say it) 'regulatory' RBL criteria
EEK
13% annual interest payable on outstanding bonds then there's a settlement value of 119%
but wait... there's more....
The Conversion Price will be reset to 13.25p (US$0.1583 based on the aforementioned FX rate) if, among other things, an RBL is not secured five months from the Issue Date, or on the twelfth month anniversary of the issue date of the Convertible.
· Warrants expiring 30 months from the Issue Date shall be issued to the Bondholders, providing for the right to acquire an aggregate number of 54,792,590 COPL common shares. Each Warrant is exercisable at 16.75p.
so IF NO RBL secured within 5 months the conversion price drops to 13.25p and then there's all those warrants to fluch out cometh the hour...
I can't see Toppy's much lauded triple digits world cruise happening any time soon
maybe a day trip to Skegness is now on the cards
DC clearly chose the 28th for a reason
yeah and the clear and somewhat obvious (no post announcement cosy director patter required) reason being:
the 28th is the day AFTER the GM vote :-)
just think, had you asked the audience, instead of phoning a friend, we could have saved you the 45 minutes of your life that you'll now never get back
you're welcome x
StartArt was 'independently' valued at £5 - £5.5 million and I had offered £4 million to buy it from myself which I without further ado gratefully accepted but in response to quite a lot of angry feedback from shareholders on the valuation aspect I have now decided (out of the goodness of my heart) to call the sale (from myself) and acquisition (by you the shareholders) quits at err um £3 million
yours sincerely DC
£5 million, £4 million, £3 million ?
just because I can :-)
LOL no surprise to see the blog bromance hasn't lasted long
here's a quick memory refresh of the forum rules for our old timers and any potential newcomers
Rule 1. Stas20 (JAdam) is always right
Rule 2. in the (highly unlikely and improbable) event Stas20 (JAdam) is proven wrong then Rule 1 will apply
PS
I have always wondered if the rather sudden and unannounced passing of JAdam was as a result of him choking on a previously wagered hat but I guess in the absence of any forum obituaries one will never know.
anyway, I must dash as off out to spend some of my lovely big oily dividends
see y'all again in September for the drill
in the meantime play nice :-)
toodlepip x
but the thing is knigel, if you read the details within the 'terms of the acquisition' they haven't 'taken' shares as you say, they have inserted the 'option' to take the deferred amounts still payable in either shares OR CASH
ergo in a worst case scenario where the SP never gets to 6p or 8p within the timeframes set out then they wouldn't take the remaining payment in shares, they would take it in cash
its a no lose deal for the directors
I'm sorry but IMO the whole start art deal STINKS
DC has no interest in the value of his LVCG shares - he is clearly happy to take whatever gross profit is made and then bleed it to himself via one scheme or another
exactly Bennster
the penny finally drops
I have always wondered how directors can morally and ethically sell a company that they either own or related parties have a vested interest in to another company that they control using shareholders money at an inflated price and at the drop of a hat with absolutely no input or say so from said shareholders.
some have even (in the past) questioned the legality of transactions just like this but the sad thing is it happens all the time on AIM with very few of them ever delivering real value or shareholder returns
the COPL forum ?
all I can see is the endless toppy up opulence forum LOL
yet the thing is folks
IF toppy up is never selling (or at least not in public) where does all the endless toppy up money come from
a road trip into Scotland doesn't sound like something a self confessed millionaire would do (no disrespect to Scotland) but then again neither is spending all day every day posting endless ramps and promoting your 'trade' book on a faceless internet forum
toodlepip x
yes yes yes BUT
surely there comes a time when a company needs to do something else with all their free cash rather than continually pay it out in dividends OR are the directors devoid of idea's of how to diversify / spread the (current eggs all in one basket) risk into other geographical / producing area's of the world
OR
are they just sitting back waiting for the big take over that has been promised daily (by some) for the past 9 odd years
its bizarre to say the least that they have not spent some of that surplus money purchasing other producing assets and therefore increasing their daily production and furthering their profits in the current oil and gas pricing climate
yes its great for shareholders (getting all these ever increasing dividend payments) but the reality is they are not actually sustainably growing the company
they are basically flatling (paying it all out in dividends) and 100% reliant on increased pricing rather than increased volumes for increased future profits
I'll say it again, after the year they have had (aided and abetted by world events and pricing) its bizarre