Member Info for biglad6

Brilliant post by tygra, 're Stockholm Syndrome. Just the situation I'm in. However whilst I realise I'm in debt of thousands with this, there's really no choice but to wait it out. It might not be palatable, it's the way it is. As tygra mentions the BO D have been hopeless, hiding behind the usual N DA rubbish thats run out ages ago. Next as described we 'll have the usual hopeless and now laughable rubbish about there still being a chance of a sale. It's been a sh****** of misinformation from start to finish. However over the last few years their inactivity and awful communications particularly with regard to the shareholders shows what they actually think of us.

On a side note I was in od x whose BO D strung us along for 18 months about a govt contract they pretended they had but really didnt. Eventually they had to come clean. We should be on the cusp of that here, but don't hold your breath. At least the SP been ******* already!

Good post from addison sums it up as to where this is.

Anyway enough sensible chat, back to I`ve made a billion pounds out of this last week, my knob is bigger than yours, what do you know, your not even invested, I used to be in Haircut 100, this will be a tenner next week, etc etc

don't worry everyone there's the special dividend we were promised by her another serial bull****ter. like all these aim w****** i don't why they even bother saying it it , to draw us in i suppose.

this used i think to be a good investment for the future companies were talked up, sales were imminent, reebok are involved etc. however in the last year it's all started to crumble yet another ipo coming up one of the last. all that will be left them is the usual blah, blah , blah potential. like someone said on here before what about actually selling something and bringing some cash in. we've posted a product on amazon, ffs!!

Many people missing the whole point of investing here. Excellent RNS sorting the finances out. As I write S P up zero. Even if the jam tomorrow stuff arrives jv, increased product ion, the S P should have been steadily moving North the last few months in fact it's worse . Says it all really. In the medium term the sorry is all the new comes out and we get to 15p say. That will still leave most of us well ******. In fact every decent rns the company releases the sp goes down.

Back to 4p. WOW! What a load of crap. Someone needs to get this pile of dung moving back to a proper valuation and give the LTH`s some value !

I`m not really interested how its done, what news has to be announced or when thats the CEO`s responsibilty. We`ve been waiting a year since the JV was first mentioned. Increased production gas installations, pipelines etc. All the SP has done has tanked. We`re in October now, next it will be Christmas, looking at past evidence we`ll still be waiting then!

Simmo summed it up well below. The issue here for years has been BOD comms. Look at that s***show RNS in Jan re the finances 16p to 4p in half an hour. One thing you can guarantee is if new and professional finance is done, I doubt we`ll be back to 16p by Tuesday.

Truth is Arthur has wrecked this SP for LTH`s and I`m glad he`s been removed from his post. It seems oddly that the hard bits like finding oil, doing deals he`s fine at but communications have been worse than awful.

So instead of starting from between 15 -20p (actually I really believe we should be at 50p ish now) we are shambolically at a tenth of that, so even with more production and a JV its still going to be a long, long old haul to the pound I crave !

Why would you want to allocate yourself shares if they are going to be worthless soon? Why has danny Malloy been re elected when this is company is going bust next month?

Gents you may well be right. The very fact that they are still going in about it shows there have been discussions and that if anyone is going to make an offer they need to do soon. Theres obviously some type of potential here, we re going to find out soon. I just thought that sentence stood out.

I like many others have invested here as a bit of punt and whilst I wouldn`t say this won`t go bust , there does seem to be some hope left. I base this on three reasons the SP today whilst like someone said before it will probably have to go through 2p until we defo know something is up as I write 35% isnt a bad start.

The company has continually pushed deadlines for offers/takeovers back and tried to draw out some definates from the main suspect Mr Fleming by ending an exclusivity period.

This "However, in this context, should there not emerge, very soon, a viable alternative solution," once again shows to me we are very , very close to an offer which whoever needs to make very soon. No doubt this leaving it to the wire is a bluffing game between both of them but that quote says to me there is something in this. Oh and I forgot 12p here we come!!

I`m afraid ladies and gents, wookie is bang on . Yet another RNS filled with apparently wonderful news. Quite frankly all yes all I`m interested in is making money and seeing a high SP. Whilst 5,000 bopd , JV`s maybe all relevant to this . The SP is an absolute shambles and today yet again another RNS lowers it.

To all including myself saying don`t worry it`ll all come good, I hope thats true as this apparent progress is never reflected in the SP and its been decimated so badly that if a buyout come s along we`ll be lucky to get 20p never mind the pound most of us were looking for at the start. 4 pence is a pile of c*** ! So lets not talk this up until its the 16p - 25p it should at least , at least be.

I'm not reading much into this. The BOD gave up on this a long time ago and this is reflected in their lack of interest in doing a deal with Mr fleming. Indeed the lack of exclusivity can only be a good thing in that if a takeover is viable other parties maybe interested ,who previously had been excluded. Whilst the S P has now dropped there's nothing if it can be agreed to stop M r Fleming and indeed others from mounting a successful takeover in the next few weeks. It could be said that we are in a better position than we were th is morning with the possibility of a deal on the table and a bidding war that may now commence.

My personal thoughts are that Fleming asked for a period of exclusivity to organise his bid and because the BOD don't like what he's proposing they've removed the exclusivity to a call his bluff and b allow others to bid.

One good thing is news of a successful bid could drop at anytime as the pressure will be on all parties time wise. The bod will be under massive pressure to get a deal done to enable the company to continue as a going concern

Anyone thinking of investing here should remember how the BOD directors behaved when they cashed in at 90p issued speeding tickets when the sp was rising fast and then informed us that the contract they had with the govt was worthless. Many investors were misled and lost thousands. Should be ashamed of themselves.

Coedkernew, you`ve spoiled it ! There I was indulging myself with positive thoughts about about 2 new cars , regular trips to France and a state of the art caravan which has been superbly refreshing positivity instead of the terrible SP and despondency we normally associate with it. Could be 5p today, superb ! Then I remebered that I had an average of 22p. Nevertheless this is the way to do it - rises on no news. Perhaps we could get to 15p ish before production and JV news then we`d all be looking at a profit. Also I looked at the graph of ARB last night thats what we really want a massive x 25 spike and out !!

To be honest , I don`t post much and when I do only about the SP. So average like many low 20`s and haven`t really the funds or to be honest the inclination to top up. I don`t believe we`ve been sold a dud, though the JV could fail and we are well capable of getting the oil out ourselves. On the downside the communications, the finances linked to the confetti bonds are just appalling. The former would be an easy fix but the company (shame on art) just can`t be bothered. JV or not, NDA in place or not these RNS`s quite simply must be better written and released.

Which brings me onto current news. Its always jam tomorrow here. I don`t profess like some on here to know anything about oil extraction but for a month we`ve all been waiting for the gas completion news that should rocket the SP. Wrong answer that arrived and the SP has gone down !!! Again!!!

So what will put it up. Increased production news, could someone give an opinion/comment on when the next lot are due out and what they might likely be compared to the last ones. What might production be in 3 months ?

As for the JV any one would be a good one but if its not Exxon the SP will probably drop knowing our luck. I`m here for the long term and all by any means is not lost but because of all that dilution the 20p average I hold is really 60p . Every day even with JV`s and more production we move further way from that. The next 3 months will be seminal here to see if we even get our money back let alone make any. (Of course I`m really hoping for lets say a £ in secret but don`t tell anyone!)

There`s a lot of really pointless debate on here with what the BOD of directors are doing (nothing much), excavation of minerals, relationship with the Russian govt. In normal times this would be part of the normal healthy debate that goes on these boards.

I`ve reached the stage long ago with the BOD, that I`m sick to death, as an owner of the company to hear about credible bidders etc when we have actually seen no evidence of any in 4 years and were persuaded/convinced to invest on the basis on information provide by the BOD. A five year non disclosure agreement doesn`t wash after a certain time and indeed despite the war if the negotiations have been going on that long anyone else would have said put your money where your mouth is !

That`s point one the second point is that if there is an interested party they keep saying there is , I want to know after 5 years exactly where we are up to just saying interested party is quite frankly, unfair and totally contemptible to shareholders. Whose been doing what and where are we up to. I bought in the low 30`s here and expect (probably unrealistically) for at least a sale to be executed to regain some value. Indeed if it was the Chinese say or Indians looking to buy this then the Russian state would unlikely be a problem as Russian Foreign policy seeks to court those two.

Lastly if you saw a bloke in the pub every Friday that was telling you he was going to sell his business for millions and he`d said this every Friday for 5 years and that it was all top secret, NDA`s etc (just like all the real bullhitters in the world would say) , you`d just sit back down with your pint and laugh at the clown) This is where we are at ladies and gentlemen we`ve had no evidence of any sale for years apart from a one liner about credible parties, but additionally the communication has been dire, A pathetic situation all round!

Here`s a positive spin on what`s been happening over the last six months. I don`t believe all of it but it does shed the company in a better light than its SP. (Which lets face it wouldn`t be hard would it !)

Late last year after the Ryder Scott report Art realised he was sitting a goldmine (oilmine). Because of the size of the find he was fairly that he could negotiate some proper finance because this find was a lifetime opportunity there would be no problem getting somebody decent to lend at a decent rate.

This supposition proved to be mightily wrong. Not only did he have a poor FD to guide him through this, his own dealings in the past and the variable nature of oil finds and extraction meant that the only option was the confetti bonds. This certainly was going to be painful for investors in the short term as the bondholders were going to shaft the SP big time as well as his own £250k he`d shoved in himself. (Art could live with this for three very important reasons a, he could just pay himself more to cover the initail shortfall , b the SP would recover in the medium term with the plans he had for a JV and increase in production and most importantly of all it would keep the company going to achieve this. If Art did`nt do this it was curtains for the whole thing and on a find like this he wasnt going to let someone else get their mitts on it for nothing. )

Sure enough the SP tanked but until he could get production up and the JV signed up the whole thing was not going to look good. However whilst he would get called all the names under the sun for the best part of a year eventually bopd would look good, the ggs system would work and add even more value and once the jv was signed (remember they and others approached COPL not the other way round) , the SP would would turn around and fly. Proper finance would be able to be obtained as with a majors money backing them people would be lining up to lend !

In the autumn all these things had come to fruition, the SP had risen to 70p and everyone had doubled their money at least some doing a 30 bagger!

All the PI`s gathered round in the street and carried Art on their shoulders through the town where they relaxed in the tavern with whatever beer was each PI`s favourite (there were over 3000 beers on tap.mine was Brains Dark and Timothy Taylors Landlord)

Later in the year as the SP went higher as the JV help really kicked in the SP went over a pound. Most of the original LTH had top sliced but still had decent sized investments left.

At this point Art promised a special dividend for investors for all the suffering and waiting and also that Goldilocks would tuck them up in bed that night. (This special dividend bit was taking it bit to far and most holders awoke at this point.) Was the first bit a dream though or a plan just to get production up and to a jv ?

Good news, very pleasing. Does not detract though from what everybody is here for making money. SP trashed will need to be nearly a 20 bagger, yes 20 bagger for almost everyone to benefit. Still a long , long road of production upgrades and JV information before I`ll get excited , 12 to 15p is where this needs to get to before 50% rises become pertinent. However it is a start.

See the problem here is lads is he`s put up that headline for a response which you`ve given him. Don`t bother if the post was isolated with no response he`d look an even bigger idiot.

Note some investors are waiting for the all singing all dancing jv, production rns. (Myself included) Most of us on here won't be getting to excited as many will need a near 10 bagg er to break even. AM has trashed the S P and most of our money. The most galling part is that it certainly didn't have to be this way and a few well crafted RNS s and volubl e support by the BOD we should be at between 15 and 25 looking forward to 50p to a £. Instead of 10 to 20p . A right ******* shambles.

No doubt Arthur's foregone a months salary and the stationery cupboard has taken a hit! Seriously at ******* last some good news. I hope this is now the start of a sequence, but somebody seems to have achieved and released good news in a sensible way!