Member Info for Carrot13

Patience is always rewarded, in this case 6 months patience has lost holders 90%.

Most companies would have just kept their mouth shut and fixed it if able to do so which makes you wonder why they haven’t here, I don’t think it’s a kudos to the management, my guess is that it’s much more than this and not easily fixable, probably requiring a new well.

However there is nothing wrong with a punt at this price as I’d think anything other than administration or a very very large placing (either with or without share consolidation) has already been priced in and unless they did do a very large discounted placing or went bust then you probably won’t lose money from this level and could easily double/triple up but the risk of needing a new well and not being able to fund this is very high.

Set my buy order for 0.02p.

There’s already been a dead cat bounce. It dropped to 1 and went up to 1.35 with Jasper13’s attempt at stock market manipulation. Now it’s back to where it belongs for now.

You should have sold in the 0.7s and 0.6s SV. 20,000,000 shares for £13k, can now pick up 30,000,000 for less than £4k. That’s good trading if someone managed to do that, especially if they can dump those 30,000,000 to wallys in a few weeks time for double.

Correct, looking forward to buying/selling/trading this at prices well below what you paid.

The good thing is, the vast majority of people will have been buyers at 0.50p (or much higher) even if they average down they will be sitting on averages of 0.20-0.30 minimum so a buy in the 0.10 range if you don’t already have shares should leave a very easy run to a bag or two if there is anything other than a placing or administration. Company is currently priced to fail or raise, a sniff of good news and this will bag if not more but not without considerable risk.

I think the best you can hope for is that the board purposely put out a poorly worded RNS to let mates in cheap and will then update in a few weeks time with something not so bad and you’ll make a bag or two from this level.

It’s a simple gamble here.

- Can they rectify the issues (whatever they are) and produce at a meaningful rate.

Vs

- Does the well need to be abandoned / will never produce commercially

Pros:

- issue not known by us, could be an easy fix

- share price at rock bottom if it doesn’t go bust

Cons:

- no funds, so placing or administration a strong possibility

- millions spent so far and still not producing

- track history of company not good

- Larry is a snake

- Jasper13 dodgy as they come

Jasper13 is a well known P&D orchestrator over at SYN who claimed to be having WhatsApp conversations with the CEO saying everything was all good right before a placing, history has a habit of repeating itself.

It will be TR1 level.

0.001p support has been broken, looks like next support level of 0.0007p could be tested this afternoon. I have set a very large buy order at 0.0005p which could provide some resistance if the free fall continues.

I think the best people can hope for now is that the board are investigated and there are a few prison sentences handed out for fraud because the chance of getting money back now is almost zero so may as well see the crooks get punished at least, would make people feel better to think yes they lost £10,000 but at least the directors did a few weeks in prison.

I’d expect them to keep their heads down for a week or two and hope the price recovers a bit, but also keep an eye out for a vague rainbow chaser RNS along the lines of ‘things look promising’ to try and squeeze out the last bit out of any pre placing pump, then just as things start to look bright again, filthy placing.

The price dropped 80% yesterday, they certainly knew something that’s for sure!

My money is on this well being abandoned unfortunately but we’ll see. I was wrong about the side track working so could be wrong again.

“ Whilst pressure build up data, to be obtained in the coming days, will provide clarity, the initial response from the reservoir appears disappointing.”

Unless they planned to let their mates in cheap I’d say don’t get your hopes up.

The reality is though they said in the April RNS that the works would commence on the 8th, take 2 weeks, produce last week of May and then they would update with stabilised flow rates. They could have easily waited another week or two to RNS anything, and then done a holding RNS to say work has completed, the rig has been demobilised and the well continues to clean up etc buying themselves another 4-6 weeks and keeping the price at 0.05p-ish (Ive seen that sort of thing plenty of times with small oilers, buy themselves a few more weeks to try to rectify things).

In today’s RNS though you can just tell by the way have worded things, they’ve basically just said what they’ve done really hasn’t worked in the slightest. To be honest id say nothing is going to happen anytime soon, if they can even afford whatever remedial work that’s required, if they even believe the existing well can be saved…which I’m not sure it can, because they’ve tried pretty much everything now and come up massively short. Could be the only option will be to move on to a new well location and re-start from scratch but do not have the funds for it.

I was thinking the same thing. This well really was all or nothing last chance saloon and they have come up well short. Not sure if it’s going to be a huge raise at maybe 0.0015-0.0020 if the price can recover a bit over the next few weeks (most likely), a loan, a takeover or bust. I’d say anyone holding now should probably hold for a week or two and pray they get the chance to exit at 0.0020 or above but this is pretty much finished now IMO, if the company does survive it will be at the cost of a minimum 50% dilution.

White night the only one here who called this spot on and took a lot of abuse so has earnt the right to troll today IMO