Member Info for bigmj

I wouldn't be surprised to see a major holdings TR1 here very soon

Thank you, I am sure the company is now in a position where LK can get on with producing more oil and showing us what he can do, every penny of profit will now go straight back into the ground rather than paying loans

No particular price in mind but over the next 12-18m expecting to be many multiples of current SP. So few shares around and others tightly held , once news flow starts and the large holders don’t sell then this will absolutely fly

You can never have too much of a good thing , these will look ridiculously cheap very soon IMHO

The two £4975 sells are actually my buys !

what I take of fence to is being called "greedy" , we secured a 7% discount, its a great deal for shareholders and far from us being greedy, genuinely it helps the company and is far better than Lind draw down.
Anyway will take a back seat and just read the board here from time to time until the dust settles

my average overall is circa 2.5p so doesnt look too shabby an investment and will be happy to see how it looks in a year or two but thanks for your investment advice London.
If you saw my tax return every year you would see how foolish your comments are but thanks anyway gave me a good laugh. If I was you I wouldn't risk your pocket money here if you are that nervous, better to buy some sweets or something

BTW I have also been buying lots of the shares recently on open market at a higher price than the placing , in fact bought £50k a few weeks ago at 3.95, I put my money where my mouth is.

There are costs in every transaction, however the "expenses" for this deal are far lower than the alternative

or common sense, I could say the same to all of you, if you believe in the company so much then why dont you buy big volume even if you have to pay a premium.
A 7% discount for risking a lot of cash is hardly greed
I think maybe I am stupid for getting dragged into pointless conversations on these boards.
If we hadn't approached the company for a placing we would instead be stuck with a far more expensive loan facility and the repayments would have eaten up free cash rather than the cash being put to good use.
anyway will leave you guys to discuss among yourselves GLA

It works both ways, we have all signed the contracts and are committed to the placing, subject to shareholder approval of course.
If the SP tanks down to say 3p, then we are still committed to the placing shares at 3.5p, its not like we can choose if we still want to go ahead with it, therefore its the discount at the time we signed that's relevant (circa 7%).
You can see none of us were greedy and the placing was done at a very fair price for shareholders, this deal is far better for shareholders than drawing down funds from Lind

Good investment pecs, follow the money The guys who have moaned about there not being an open offer should buy on the open market, it’s only circa 15% higher and will look cheap in the coming months

Hi Guys Nothing much has changed regarding my exit price , still thinking 50p but now with my extra shares might top slice maybe 30-35p , however if LK dong a great job then might hold to the end game

It doesn’t really matter where the production comes from , having Steeldrum was about diversity and when goudron has a problem we can turn up steeeldrum and visa versa , diversity is the key . Year end will be circa 1000 bopd , most likely 700 from goudron. The reserves are far greater in Steeldrum .LK has a plan and I have helped accelerate it in the best possible way for shareholders. If you like it join the party , if not leave and never return ,simple

The problem with doing an OO, it takes time & incurs expenses plus you end up with cheap shares being quickly flipped, this money has been raised by issuing shares which wont be hitting the market, MM's might play tricks but there wont be very many shares around at the placing price.
It was only last week that people who took part in the last OO at 5p were moaning about it not being a good deal, you really cant win, for smaller investors there has been the chance to accumulate shares at circa the placing price on the open market, they could have taken this up.
At least the placing was done at a sensible price without a big discount

Predictive text ! Obviously meant lind not kind !

Morning guys and girls
Hope you are all ok with the placing and understand why we did it, better to raise at a very small discount than use the kind facility, also unlike most company placing ALL of the shares are in sticky hands (I took a very large slice of this placing), short term minor pain for a really good long term gain.
Have spent some time with Leo and am very excited about how this money can speed up development , as are the 2 II’s involved.
Leo didn’t go looking for this placing, we approached him and also we didn’t try to force him to do it cheaply, a sensible priced placing with a great upside

Meeting was a few days ago, LK continues to impress me and I would be happy to continue to back the company under his leadership, CERP has been more problematic than he expected but we are out the worst of it and now ready to see what he can do

Possibly ;-)

Plenty of activity, wouldn’t be surprised to see another TR1 very soon