Member Info for Cocobeans

Twitter boys are on sidelines thinking the company needs money

1. They have stated multiple times that they don’t need money and are fully funded

2. They have zero headroom as it wasn’t voted through at the GM

3. They have excess cash beyond the drill, so again they have no requirement to raise

4. As they have no headroom, they would need to call a EGM, this wouldn’t fit the timeframes to get a rig completed and therefore I can’t see it happening until after the drill

My expectation is that they raise into drill result period so 3-4 months away like PRD did

More importantly , I think many are going to be caught out and sidelined here if they don’t scale in

The great news we won’t have any overhang once this pops on good news, so trying to buy a position is going to be nearly impossible

In summary, there is a lot of sideline money sniffing around here and I can’t wait for the scramble

Chunky buys and sells today- tell me one thing- nothing is leaking or it would be in favour of one side

i do think its nervious retail selling

i also believe that the company would have to tell the market if it was bad news and obviously work towards good news and therefore on that basis, i remain confident that these are just delays and nothing more to the inevitable signing of a contract whether that be with Sofori/NHE or alone

Q3 spud is still within our hands- this is a coiler spring

how exciting

More than 100k shares and you cannot- maybe the book has just switched and the nervous sellers have fully exited or maybe the market has got wind of a change of direction

over to you Lorna

Looks very short here, but interesting how they react to any positive news!

WHICH IS ODD?

Let’s hope we all get what our patience and stress levels deserve

If Lorna delivers , then it proves that her radio silence was for a good cause and I’d then expect PR to kick into overdrive to over compensate for the non existence of anything

I do feel Lorna is trying to do her best and is guided a lot by Stalker who maybe isn’t so aware of UK market as us retailers given he lives in Canada

Anyway, if we nail positive news then rockets galore

If not then the only rocket I’ll see if the ice cream

Bon chance

I wonder if sofori did think they controlled the hand and were pushing noble and HE1 to dance to their beat , but maybe HE1 has lined up another option and has made a scramble for the other two parties to sort their mess out

Sofori have been upgrading their rig at their expense in readiness for these two drills, im not sure they will want to loose the drills and if its not a 1+1 situation maybe they dont want to go just for noble

who knows, its all speculation but HE1 control the destiny of the rig and it should be in everyones interest to just get this done rather than p about squeezing each other, which tends to lead to something breaking

either way HE1 has repeatedily said they have various options in terms of rigs and only RNS this LOI due to NHE ramping it, for all we know this maybe wasnt the preference, or maybe it was

all we know is the next week is going to be critical to what we get told and aslong as the drill is still happening, im more than happy to let the company just get on with delivering this drill

RNS monday then give that will be July

this is going to spike hard if its super positive

exciting to be part of if nothing else lol

Are duty bound to update us when there is a change, my educated guess is that they are working the collaboration agreement with Noble, and a separate agreement and its all probably just taken ALOT longer than they expect

in my view i think we drill end of september/october now just as i feel a rig will be delivered end of July and im happy with that

all i want to hear is where the company is in the process and they are legally obliged to tell us that

therefore news tomorrow or monday imo

That there are delays here otherwise the company would have informed us that the rig contract is signed, who knows that the delays are but i do expect an update in next day or two in line with the end of quarter target date

i dont care if we are a few weeks out but the uncertainity and radio silence by the company has been poor and we just need an update now

poor choice of communication by Lorna, have to front these things up as unless its deadly no-one would care about a 2 week delay (example) but no updates been investors get nervous

for me this is a buy opp aslong as the drill is turning still

Of the nerves

this is a proper battle of the bulls and bears now, easy to see someone has dumped ALOT of stock recently HOWEVER some has also BOUGHT alot of stock

ultimately we are in Lorna's hands here, if she delivers this flys as some much has now been priced in as failure, if not we have some short term weakness

my bet is on we drill Q3 early Q4 (October) and quite frankly all i care about is that being confirmed by a rig being in country- that alone will double the price

AIM is in desperate need of a massive winner , I just hope its HE1 that sparks AIM into life

boy we all need it regardless who you are as the markets are pipeful

Hopefully we have bottomed and news will see us drive forward, the company silence has killed the price but so has the nervousness and thinking things have to be this week.

we have until end of october to realistically drill, NHE dont, so we have time, albeit I like everyone else wants it done yesterday in terms of contract signing so we at least know its happening

this will snap back sharp once we have that and i wouldnt want to be the ones trying to get a decent position

Additionally, if we are successful we will raise tens of millions for a proper drill campaign so maybe the hold up is the fact that the rig could end up in Tanz for more than a year

Here even if it’s shipped in 2-3 weeks, still makes a Q3 spud date. Issue is HE1 won’t even tweet updates like they used to, so now we have a board of everyone being nervous when nothing has changed and the only ones to blame is the company

However, once the rig is on a ship and we are all executed, the amount of people re buying or wanting in will spike and the sellers now will have regretti spaghetti

In meantime, I hope the company is listening and delivers updates constantly so it’s stops the doom mongers and nervous, even though it has allowed me to accumulate more stock at prices I didn’t think would be on offer

It’s certainly a buy opp for the biggest drill on AIM this year in a resource that is only available on AIM via HE1

What makes you suggest this?

PRD as an example - doubled in price right next to their drill, even after multiple funding rounds

I therefore think as there will be a lot of money waiting on sidelines and no placing overhang, that this will be 15p on spud if not more, as it spuds a spike into 20’s and then we are in the hands of the gods

The company has said that everything is on track and continue to say this.

So I think that PR and comms can therefore only really come once the rig contract is sorted

For now, it’s just a waiting game. I like that the company has several rig options and aren’t going all eggs in one basket, we just need a rig confirmed and a drill in the ground in August

I think there will be a big ramp after the drill rig RNS and PR will then naturally happen

These prices are ridiculous given we are only 10 weeks away from a very large drill (biggest on AIM)

Yes this is frustrating to be at this stage with limited comms from HE1 but as there has been no comms, then nothing has changed

we are all frustrated at this point but the drill whether it happens in mid august of sept for HE1 is going to happen, id be more nervous as a NHE holder.

SOFORI will be focused on getting the rig ready, im sure the contractual side is done, but if the rig isnt ready, you wouldnt sign a deadline contract as you know your setting yourself up to fail.

my expectation is the rig will be on a boat within days of a contract being announced and therefore we are all on track still

Lorna knows the importance of all of this and I'm sure once this hurdle has been jumped, PR etc can spike

whats the point in ramping its prospects until they are firmed up on the drill

we can only wait until news but i'm sure any spike in volume will tell us news in around the corner, until then the bored move on chasing rainbows and the belivers stay waiting for that RNS

At what MCAP would this be put back into the FTSE250

so undervalued still and now the oil tanker appears to be turning around

Have to also remember 888 have been disposing off any non core asset, which will 1) provide cash 2) help reduce debt 3) streamline the business, saving more cost

been a tough year or so here but finally could be turning around, fair value compared to peer group is north of £3-4 so plenty of upside and well the downside is largely priced in/known

if they can get back into the FTSE250, we will see the trackers and funds re-enter which will only see it squeeze higher

lots to play for here