Member Info for Bubblepoint

""It definitely did happen Mirasol.""

What ?? the smokescreen impossible acquisition to hide the technical defaulting "elephant in the room" lololol

""Where discussion often goes off track is treating suspension as evidence of terminal failure""

WELLL it isn't "terminal" yet, and unlikely to be so, purely because the creditors WANT their pound of flesh and shutting it down would likely add more pain to them, so they are simply allowing this shower of sheite to run on "life support" and not much more.

The suspension was nothing more than this shower realising they were up sheite creek without a paddle after spunking 2 years of revenue @ £37.11 MILLION, with half of that in the comfort of a generous creditor grace period, and not having a pot to pish in when that first instalment was due, so suspend before "technically" being in DEFAULT................ and avoid watching their MC disintegrate there and then,,,, AND they are FAR FAR from out of the woods....

PMSL,,

Of course the work over is positive and will result in a minor increase in production, no sheite Sherlock, BUT it WILL be a short honeymoon period and nothing like the flow you are having wet dreams about lol

Add to that, the gas prices are a benefit right now, but only a kerlown would look at this as some miracle fix for the sinkhole of default debt this shower has gained, gas prices are well above typical trend and just like today can quickly slide back off, but hey I get it, you are desperate and that calls for hanging on to every ounce of wishful thinking.

The honeymoon period will subside quickly and it isn’t going to be enough anyway for what is needed to give retail anything specially after trafi has finished with them

""Does this intervention not provide a permanent solution to flushing out the liquids?""

The problem with the information this shower of sheite provides, is that it is very limited on detail.

BUT from what they HAVE supplied, it pretty much indicates that they are NOT installing velocity strings as part of the workover, it is JUST a simple coil tubing intervention, to pump acid and then to flow out wellbore and near wellbore BANKED liquids and backflow the acid cleanup fluids.

Once this has been flushed out, it appears the wells will simply go back on to production as before. WHICH is sheite, because it WILL result in simply inducing MORE liquids and the choking off of free gas continues...

So expect an uplift in overall production, of around 15-20% overall, with a short honeymoon period, before a slow continued decline due to those liquids accumulating.

Ultimately, it will not bring in the production needed to bail this shower out of the defaulted debt sinkhole they are in, unless gas prices rally and stay at 150p +, which is ALSO unlikely as demand season is quickly coming to an end !!

ONLY an idiot would base a company's future outlook on gas prices that are being influenced by abnormal forces, simply because they can plummet back to a more typical baseline price just as quickly or quicker.

Yes the higher prices are good for all producers, especially this bunch of desperado's, and yes, every extra penny from such an event will go towards he sinkhole of debt owed to their creditors after such a significant default.

It "might" help if the prices are sustained, but I suspect it is going to be short lived as we end the cold season.

ANDDDDDDDDDD then you woke up !!!

ANDDDD what happens if production and revenue is STILL NOT enough to meet both creditor needs and Opex/Capex requirements ??

All well and good pom pom waving for a dreamy but highly unlikely significant production increase, along with some dreamy creditor forgiveness and highly unlikely generous terms to replace the badly defaulted first event !!! but the dreamy stuff is just that !!! the reality is far more likely in the first part of this post !!

""They are directors of an AIM-listed stock""

LOL,,, OK,,, that translates to being directors in the "wild West" or even the Wild Weald" as these are not the only outfit to undermine their own asset and work the swill trough for those around them !! you know what I mean !! lol.

They are up to their eyes in it and they simply gotten a little bit toooo greedy, undermining retail is one thing, taking the pish out of your main lender and offtake provider has proven a whole step too far and it is going to HURT !!! a lot........

It isn't checkmate YET, but it is most definitely "Check" !!!

Ocelot,

It is a very serious statement, and clearly needed to cover their base after such a serious major default, and clearly some serious issues with Opex costs vs revenues to meet all their needs and obligations.

Anyone stupid or ignorant enough to consider it ‘just’ a simple caveat needs to look at the £37.11 million revenues figures and ask WHY did they default with all that coming in !!! And how much are they gonna need to cover everything and the enlarged debt, penalties, royalties etc, etc like I said DOUBLE production might just do it, but that’s impossible

‘It’s the going concern caveat in the last RNS. But that is absolutely standard terminology in the circumstances of a suspension and debt restructuring “”

Ermmm it’s a BIT more than a caveat lol, it’s strongly noted due to serious DEFAULT on what was a generous loan and grace period, that is proving extremely difficult to resolve with their lenders, who are now having to pretty much supervise to try and ensure there is a slim chance they can get this significant defaulted debt paid back

“”Why do you post in such a childish manner ?“”

Well it’s simply to keep it at a level YOU can understand fartoomany lololol simplzzzz

PMSL, far too many, what you are spouting is EXACTLY the same thing we ALL said when they were first granted the generous trafi loan and extremely generous grace period, and what happened ??

They spunked £37.11 MILLION of revenue on hobnobs and then DEFAULTED on the first loan repayment lol

""Yes Mirasol, 100% you will see lower rates.""

Fartoomany, YOU cannot say that as 100%, when the reality is after such a SIGNIFICANT DEFAULT, and the reality Trafigura are well and truly on to them and monitoring every penny spent while ermmmm DEFAULT recovery terms are fought out, is far more likely to result in serious penalties and hiked interest rates, along with Trafigura possibly demanding that THEY take their payments out from gas sales before any remaining revenue is handed over.

""Am I correct in saying this I production from the 2 wells only ? Could we see 3m per day by end February ?""

The ONLY time they will stop production from a well during the workover cycle is when they are preparing & then running in hole with coil, or pulling out after ops completed. so just short periods of shut-in, probably half to one day at best.

As for rates, as said, they will do well if you see an uplift of 20% overall, and that will as always decrease slowly as it builds up liquids AGAIN and the pressure declines FACTTTTTTTTTT

Fartoooooooomany, WHAT exactly do you think happened to the £37.11 MILLION they already had in revenue over the last 24 months ?? cmonnnnnnnnnn you can tell us all lololol

Lets look at the revenues from when the Defaulted loan was initiated & includes the 12 month grace period to endo of 2025

2024

Q1 = £4.86m

Q2 = £4.90m

Q3 = £5.14m

Q4 = £6.12m

2025

Q1 = £5.32m

Q2 = £3.44m

Q3 = £3.21m

Q4 = £4.12m

DRUMMM ROLLLLLLLL totalllllll = £ 37.11 MILLION

And they covered all their Capex needs via the Trafigura loan as CLEARLY stated in that loan RNS.

We KNOW they had spunked pretty much all of their revenues at the end of the generous grace period, which can ONLY be put down to almost all consumed on basic OPEX, £3711 MILLION / 24 months = an OPEX cash burn of £1.54 MILLION/Month. STAGGERING !!!

When you look at the Quarterlies do you not find it ODD that when the generous grace period ended, it oddly aligned with the monthly revenues dropping from above £5m per quarter to the lowly 3's hmmmmmmmmmm looks very orchestrated to me, or you could align it to the Booster that is supposed to BOOST revenues & production, but in reality it crashed it and is struggling to recover,, YOU DECIDEEEE !!!

However, regardless of the DEFAULT, that is a HUGE amount of money squandered on what exactly ??? £37.11 MILLION

""Significantly lower than you are suggesting.""

""I don't know why you blatantly lie hits and repeatedly try and scare people with false figures.""

Suggesting is NOT a lie, and if you are so confident of YOUR ermmm figures, then share them !! along with where the funds will come from for your dreamy new well & additional workovers !! Ps do YOU know just how much it cost for the last short 200m of sidetrack (new well), that was also almost 400m short of what they wanted !! probably the most expensive 200m of wellbore in UK history.

""I'm sorry for the mistake and wont say another word.""

Best thing you have said !!! well done

Ilovelosses, pmsl, clueless as you are, at least try to get your facts right lol, you really show yourself to be a sore loser spouting lies as you do, you will find out soon enough what the state of this outfit is, I hope you have a good pain threshold lol

Proper PMSL Ptrap,fartoomany & co,,, tell you what, those figures ARE EXACTLY what was provided BY ANGUS, AND they used almost every penny of it on ????????????????????????????????????????????????????????????? not a lot,,,, £37.11 MILLION over 24 months goneeeeeeeeeeeeeeeeeeeeeee

YOU are correct on one thing, YOU WILL find out soon enough where they stand AFTER having their pants pulled down by Trafi etc....... ENJOY the ride !!

OHHH and those numbers are FACT, lolol,,, as per each quarterly RNS update provided by this shower lol

F.A.C.T £37.11 MILLION on hobnobs !!!