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.
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!
clearly there is now something terribly wrong here just this week. we have seen the sp drop 20%. truth is after the s****** rns that they might run out of money most lth s were stuck as we are now. my £30k has turned into 3 and as time goes on i doubt the bod integrity full stop. they clearly do nothing to protect the sp. as for the jv i now believe that there's more chance of our ceo coming on saying it's all off than on. hence the long delay. all we can do is wait though after yesterday and this mornings 20% drop something else isnow obviously happening and it won't be good.
when art bought his £200,000 of shares i was fully confident and when the solicitors agreed to get paid in shares even more so however a 2p/1p sp puts a new light on how hopeless the people running this company are.
the way out ? the only possibility would be a suspension , leading to a jv with an exxon. (sp comes back on at 20p) then consistent positive updates about production.
i keep thinking that this is part of some grand plan of arts, but i don't think it is, if it was you'd be keeping the sp in the 20s as he did when he bought knowing the jv and production could send it to a £. even with all that if it happens at all see be lucky to get to 15p.
also w it art when news is non committal rn s s flow about "still in discussion " et c "moving forward" he's full of news, when you have to actually announce anything specific he s light to say the least. if he does read these boards ****ging him off doesn't make any difference but we've even past the point where a slow organised sensibly managed rise has disappeared and now are awaiting a miracle. how often do those happen?
I'm afraid this whole thing is now about to collapse. I've posted on here many time s about how the S P has been decimated for no apparent reason when it should have been building to increased levels based on JV and increased production levels. .Noticeably today a lot of others have had enough . (That would make me laugh if myself , Mrs and the kids ISA's didn't have about £30k committed) And when I say had enough there's no way many are going to sell at 3p when many have been in in the 20s and 30s.
We've been carrot dangled good and proper. The JV was mentioned 9 months ago, the finances were meant to be sorted out but havent, endless delays with production, poor RNS s and no effort by the BO D to protect the SP.
I used to think we might get a JV announcement , increased production et c because as investors we always have on rose tinted spectacles. I think we need a 15 bagged to make a few quid. A disgrace to say the least.
It's the first time I've really believed this, the SP never moved on RNS s because nobody in the know ever believed this could come right , and as time goes on this point of view is being proven right.
Sorry to p*** on everyones chips here . Nothings changed here and hasn`t for years. The company isn`t leaky and besides even if they can pull off a sale which is a big if and they haven`t so far (and on reflection hadn`t before the war intervened) with the SP so low its hardly going to be anywhere near the price that we were investing in the 20` and 30`s.
Added to the BOD`s now contemptible attitude to communications, the bare minimum when we should have had a statement saying how the was was going to directly effect our company and any possible sale. We also needed a full and comprehensive update about how far they had got along with the process. Not naming names if necessary but no doubt years after negotiations these NDA`s must have run out.
Instead we have as usual chuff all. I`ll get excited when it gets back to 20p , not ******** 5p, a shambles.
Panama, the problem is here is as I keep banging on about is the SP certainly in the medium/short term the damage has been done . Lets say you are right and this is at last a string of decent announcements, which it may well be , increased production, JV, better comms AM had trashed the SP from .38 when I started to get involved to .16 when it stabilised and then the worst RNS ever and not needed to the s***show SP we`ve got now. Say we got JV news tomorrow it might go back to 16p in week, then good production news 30p still under the 30`s that many people hold shares in. Look at today decent RNS and down 3%!
Arthurs response, "I`m down as well", that ok then with an x zillion pay rise or whatever he got last year for decimating shareholder value and whats more disappointing this company has great potential. Moving forward 1 RNS a month please with good production figures in, interspersed with JV news.
Hopefully like me he`s thinking it won`t matter in a year when the SP is a pound, well to tell the truth Arthur if all this had been handled professionally we should be at 40 -50p now looking for £2-3 if all this comes to fruition.
He s up again I don't believe a word he says ! C'mon guy prove myself and that big loser wrong !
i tell you what there`s some real gems on this board. just looking now, "why hasn`t raul whoever packed in and joined qbt." who ******* knows! perhaps he`s happy where he is , perhaps he can do both jobs, perhaps his mrs said stay where you are , perhaps he`s doing his secretary! the reason being the litany of reasons we all stay or move jobs. why would you even write that !
people getting back in or not, who cares, so the price can drop by .1 of a p so someone can save themselves £50. good luck with that. you know what with all that b******* if you thought the company was going places as i do, i certainly think at some point we will get a massive spike , invest at 1.9, 2 or 2.1 if you don`t , then stop boring the rest of us and if you`re a trader (people i respect if they are good enough to make money at this ) then your medium, long term view is irrelevant as all your doing is trading it ! there thats most of the messages on this board covered.
Guys and Gals,
If what is being researched and tested here comes to market then the SP of this company will be in £`s easily. The issue is with these type of shares is that often the CEO has issues with over exaggeration, wishful thinking or/and a combination of downright lying. (Look at NNN, ODX to see the full circle of deceit and COPL and Prem to see issues with CEO believability even through RNS`s) This however has a distinctly feel to it in that the progress has been logical , timescales have been stuck to and backed up with facts.
I`m hoping that we will soon have sales to US companies that will rocket this like someone said like ARB. Can`t wait to
see how this does next week and companies when they can mine faster and cheaper.! What could possibly go wrong !
I`ve got nearly half a million of these c`mon a £ !!