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Had to be done to keep the lights on. £30k a month gets you a lot of electricity….he did well out of his time there, nice addition to the pension pot.
I personally think this is a bargain at 250p, considering my the placing was at 400p and though type of investors don’t usually part with cash if they don’t see a decent return. Definitely one for me to be buying more at this level and holding for the very long term.
All of these new posters appearing that are experts on the company? Be warned
Nobody knows how much cash they have, they haven’t said. Pump and dump crew.
He’s spouted *******s once already with a monumental **** up as a result. Nobody will trust this man again and if you do you need your head looked at.
“Don’t think about failure just think about success” that line will haunt him forever….all his talk of the years of experience he has and yet he showed a huge lack of experience with that approach.
Good luck in whatever strategy you decide to go with but I’ll not be buying back in here….time to look for some covid hit stocks that might recover now as we might be heading out of this pandemic soon. I’m done with wildcat drillers that’s for sure.
It’s game over for Buffalo but not for ADV then. Bottom drawer for now. I’m sure the £30k a month will be getting the handbrake out in it (reducing costs) and rightly so. Next asset might be the turning point, wait and see. It’s gonna be a bumpy ride for a while.
The words drilling is at a “critical stage” also caught my eye too in the RNS. Almost like a clue to get out. I wonder if the directors were selling on the Tuesday surely that has to be documented to shareholders no?
The question is now, is the company shutting the doors or are they or are they prepared to move on and release the details of the other plans they had and how they plan to fund it?
If they RNS tomorrow and it’s a carbon copy of the CVN one I’d be very angry. If they explain in detail what has happened and that they have basically had their eye wiped by CVN but they are prepared to turn things around then that at least shows that they are wanting to do right by the shareholders. Basically I see it as the future of this company hangs on what they say tomorrow and how it’s said.
If they don’t wind it up then there is always hope for the future but it could take a very long time to recoup some or all of the big losses, for anyone who didn’t sell that is. Other companies have hit dusters and still been able to continue, it may take years to sort though (if it all)
It will be interesting to see what ADV’s RNS says. That’s very short and blunt by CVN and swiftly moves onto their next project. No mention of what went wrong etc. I still think there has been a big row between ADV and CVN. Looks like they are saying we will leave the well safe and you can do what you like with it if you want to take it further but we are out.
If that does turn out to be the case then LP and his board are the biggest bunch of ****s ever to grace the LSE.
£30k a month would certainly drive me to turn it around ;-)…..if they are keeping the lights on is expect them to take a pay cut or freeze for a while otherwise the little cash that’s left will be gone in a matter of months
Let’s be honest at 0.5p or thereabouts the bad news is already priced in. The market thinks it’s doomed hence the SP being flatlined last Thursday and Friday. The only thing that will make it worse and the shares totally worthless is if they say they are going bust and winding up the company, then it really is lights out. All depends on what the board want to do and how much drive LP and Co have to turn it around.
Where would the money for a sidetrack come from though? They have no money left.
If there isn’t an RNS by Wednesday I’ll start to get properly ****ed off them. That would be 1 week. There should be at least some sort of communication stating that even if things are ongoing on the background that they are working to a solution or exploring options etc. Either that or a plug and abandon RNS. Being kept in the dark like this is even worse for those still in and nursing big losses.
It sounds to me like there may have been a bust up between Peterkin and Cook when they got the result. Seeing that CVN are now talking like they dont give a **** and they are walking away, so it could be messy hence the silence from both parties regarding an RNS, there may be legal obligations that need to be ironed out and it all depends on what was written in the contracts. Peterkin maybe had got the rage as CVN supplied the data which is clearly wrong somewhere. I hope we know soon enough one or the other. Time to earn that £30k a month LP!
The most helpful post on here in days rather than the madness that has been occurring. Hopefully you get a reply at some stage.
*suspend
They have been posted several times already. Obviously quite a few in here want to see this die. Have a thought for those on here who are sitting on massive losses. Until the next RNS all of this is just conjecture. The best thing they could do is I spend this stock and this bulletin board.
And I hope he reads this board or someone on his super experienced team does. Maybe he will keep tabs on his ego next time and be a bit more modest about things.