Member Info for Cocobeans

clearly we have a buyer in play here as last 2 weeks someone been buying chunks and the market makers are not offering any stock

now NT to buy, as per my last post, cannot wait for the masses to try and buy in here as they wont get the position size and this will rocket now the register is clear of loose stock

notwithstanding the company is fully funded and actually cannot raise without shareholder approval, we have nothing stopping us or holding the price back once the rig confirmation is announced, which can land at any time :)

the great news here is that we are fully funded and all of that placing overhang has been eatten away into bad news, therefore on good news, we wont have any flippers (yes a few traders) but not the size of overhang we would have had otherwise therefore we should see an over correction

market hasnt a rig or drill priced in here and lots of people have been sidelined, so i expect a rotation into HE1 over the weeks and this be sitting 15p + closer to spud

exciting times ahead now , with the company moving in the right direction (for once)

once again market running out of stock at these levels

feels this one is ready to make a bigger move north

eyes down, Lorna suggested she was in country this week
drill pad with work to start, last weeks CoOp was the pre cursor to the rig agreement (formal contract)
after all this pain for LTH, I see this delivering significant returns from these levels

Not making a market at all here as since Friday, its been NT to buy. Poor from them

not that it matters but i think we have now seen the bottom
we are all wounded but still walking
cant wait to see this run

arent going to sign a CoOp agreement if there isnt a rig to CoOp with lol
sometimes we need to take a step back to find a way forward and yesterday appears the last piece for us to now nail this rig!

money has left this over the years as the promises didnt come to reality and I believe alot of waiting on upcoming drills like 88e etc but that risk free ride has past
i believe ALOT of sidelined money will be pushed into this, and as i said before, we have no overhang therefore this could be chased very hard if people miss the boat here

chip away at an position and sell near 15p on spud in a few months time

this has explosive upside on any discovery and the gamblers all love that!

lets put this one to bed, Ian Stalker should buy more yes as he is a very wealthy investor

Most CEOs are earning good money- lets say that x earns £200k after tax thats £120k

£10k a month minus their own living costs, etc i dont expect unless they have other business interests for many of these people to have millions to be laying around to buy

additionally once they buy they literally can never sell, so for them options etc makes sense if they dont have a high individual net worth

if you works for a PLC would you subcribe all your salary to a company share scheme, unlikely,

the fact that they dont have person wealth shouldnt be seen as a negative, they cannot just buy at any time either, esp just before news

so id expect Ian to buy something meaningful but is it really that interesting if Lorna buys £20k of stock- no not really

now if someone tells me she has £20m on the hip, then yes she should own a larger amount

we are all human and have our own financials, because they are CEO dont make them immune to the fact that they have their own living costs

its a mute point apart from Ian and his rich investor mates, who can all well afford to buy more, once they are legally able too and potentially not inside

they needed

they didnt the CoOp agreement signed to sign the Rig agreement, they wouldnt sign the Co-Op agreement without knowing they are both going to use the same rig, and they would need to be sure both was ready to execute on that

i wouldnt be surprised to see a rig announcement next week imo especially as the operator will want to move the rig and schedule now if its just finishing a recent job

I believe that both NHE and HE1 were speaking to the same provider. that rig operator and NHE, HE1 have likely agreed that should they sign contracts at the same time (separate) then they can offer them scale of economy

NHE and HE1 have probably been agreeing this CoOp agreement to ensure that HE1 has the rig first (as confirmed multiple times by DM and Lorna) and to optimise de-mob costs etc

its feels like now they have signed this CoOp agreement it, unlocks them to now complete the rig agreement as they can go to the operator and say we have agreed to using you for a minimum of 3 drills, HE1 is funded and 1 drill and NHE will source funding and be ready by sept.

now the rig operator has confidence of a bigger job, they can finalise total costs and execute the agreement

i think this is a smart move and it pretty much now guarantees the rig is in country for 3-4 momnths, if HE1 make a discovery, we can use the rig straight after NHE or may have an agreement to drill more. The rig operator will like the fact that both companies have the potential for multiple drills, and if is in counrtry, we mitigate the wet season aspect as the rig will already be on site.

NOW, im even more confident that a rig agreement is nearly done,

SIMPLE PUT NHE and HE1 must know who they are using otherwise, they wouldnt know who the costs would be split etc etc so they must both be close to signing their own agreements now the CoOp is done

Finally , the timescales imo are still set for the company to over achieve them, if the rig is in region and has just finished a drill, it will be ready to use now, and i think Mobilation will start in April

we are closer than what we all think is my read on this

eyes on buy size and volumes

I think people have misunderstood things here, in line with what the company has provided:

1. HE1 will have priority over any drill sequence, this has been stated by DM and Lorna in the AGM last week, i would suggest people go listen to that as she clearly states as did DM that we would go first in any drilling
2. this collaboration wouldnt see HE1 +NOBLE signing one drilling contract, HE1 would go to the operator and so would Noble, they would execute separate contracts but the rig timeframes would align and they would have an overall agreement that HE1 would have the rig first and NHE second, therefore NHE funding positoin is their own problem, we arent reliant on it to execute our contract
3. the contract would be for services and the splits between mobilisation and de mobilisation costs imo

Personally, this agreement isnt about signing one contract, its to provide a rig operator with follow on work, making it more interesting and saving a bit of the costs. HOWEVER, speak to the company, this is a nice to have in place BUT the focus is delivering a RIG for HE1 so if we cannot have this nice to have, then we bare more of the costs (which we have already budgeted and are funded for) and we get on with our drill regardless of NOBLE

The collaboration is a "if the stars" align event rather than the sole focus

I believe the company have stated this under both old and new regime

I still truly believe Lorna is under playing where we are, and they are well advanced. lets hope this takes the market by surprise as and when it happens.

At the AGM that any collaboration would mean that HE1 would get the priority to drill
as we have a 1 drill, maybe the rig company wanted more than that, so NHE provides them with follow on work, and NHE will drill multiple times, so I reckon HE 1 drill first and with a more powerful rig, that would probably take 10-15 days, then onto NOBLE,

this is why i believe we will drill earlier than whats in the presentation IF Lorna is true to her word that we get the rig first

SIS is owned by Ladbrokes 23%, Caledonia Investments 22.5%, Alternateport Limited 20.5%, William Hill Organisation 19.5%, Fred Done (co-owner of Betfred bookmakers) 7.5% and The Tote 6%

how much does 888 own? might pay down some debt which would be great

https://news.sky.com/story/bookie-owned-sports-betting-service-sis-odds-on-for-200m-sale-12817160

The comment from Lorna ‘ I’ll on site end of the month’

Why is she going onsite? Is it to start the Civals work? Etc

I suspect the rig deal gets signed next two weeks and this drill happens end of Q2-Beg Q3

They are being smart now in terms of managing expectations but if the rig they have has just finished a job and is ready, they will want it on site asap before it gets taken by another operator

Weather is only issue now for an earlier drill imo

Has turnt into carnage.

People literally giving Lorna 1 week before writing off the whole company.

My view is that if by early March there is no contract, then questions need to be asked about her execution.

BUT she has been in the role for a week, they have stated the following

- they are in talks with MULTIPLE RIG PROVIDERS
-they are fully funded
- they will be looking to BUY more shares
- there are two contracts being handled, both are in region and within budget
- they have a plan C with another operator to share costs
- their priority is to get the drill done in August

People need to let go of the past and just think we could be mobilising in 4 months and none of the past will matter.

If they mess up now- they yea call it a fraud or however you want to categorise it

However, now it’s all about giving them a few weeks breathing space to get the contract signed, which is advanced.

For those that are miffed and cannot get over the past, we’ll just stop looking , sell or wait until March and then come back again

They cannot dilute us anymore and all of the placing shares have been washed through - so all we have no is aload of retailers trading around or disgruntled people selling

HOWEVER, should the rig get executed, this has a very very big run up as you cannot get any more bad news priced in at this stage apart from total disaster and then we can all moan

Correct- They have no headroom to issue any shares

No - you have it wrong

They raised £10m with 200m shares at 5p in Nov

They need approval for any other shares as they have zero headroom