Member Info for CrustyPete

So 1.6 - 2.7p then, based on that Market Cap? So not quite 3.6p after all.....? Still a good rise from here though - and yes, as long as there is no further dilution ahead of production a MC of £150+m is conceivable, in my view. We have been higher on a lot less.

But was 3.6p target price before or after the recent 60% dilution?

Not me Watchouse, I no longer have a holding of that size..... thank goodness 😉

I wish you all a great weekend one and all.

Some good volumes today though BUYS roughly equaling SELLS, so no great surprise that we are now "flat" on the day.... 😉

I have also attended AGM's with a Letter of Representation when that letter has not been accepted for Voting and Q&A purposes; they typically allow you to attend as an "observer" only. Consequently I now always vote ahead of the AGM.

Though it has to be said that this has happened for only two companies in 20+ years, albeit the second of those was as recent as 2024.

Well gents I am not shorting and am not sure that is a good idea unless the CH1 drill proves to be heavily delayed. I am still "long" here but with a much reduced position in th possibility of a prospective "delay". We LTH know the effect of delays. I don't know if that is likely but then I guess it depends upon what you believe the likely timescales to be and hence what constitutes a delay?

I would not want to be short...

Revenue from Galactica is already committed to further development of the Galactica project - Galactica to be ring fenced from Rukwa, so no, there will be no monies from Galactica to fund Tanzania. Not any time soon anyway, they have another 16 wells to drill in Galactica.

Well it will need the proceeds of the Cambay "sale" to pursue either of the CCS projects, which will inevitably run out of money before they lay a golden egg, so where is the money coming from to pay for any future projects? Will SYB be able to raise in the markets? I seriously doubt it - where is the ROCE? So, yes, I expect shareholders to demand a return of Cambay proceeds and a winding up of the company. That or shareholders need to vote to reject the sale.....

I was anticipating repurchasing shares here but having been out for a few months see absolutely zero reasons to buy back in and honestly, there is absolutely no element of schadenfreude, I think what the BoD have done here to shareholder value is a disgrace and I have two close friends suffering hugely as a consequence. But, no, I see no likelihood of redemption here and even if there were to be it is a very long way off and I really don't have the time or the patience to stick with it.

Sorry.

Another good move upwards for PLSR this morning (15+%). I'm up 100% now and still further to go - methinks.

Sorry, two years later - just feels like three!

Agreed Gordon, not least because the costs of winding down the company and delisting are considerable and take an eternity - I have already experience this once (SCIR) and the proceeds of that wind down have still not been received by shareholders three years later.

Short selling was supposedly precludesd under the terms of the CLN agreement. If so Short selling should also preclude "forward selling"

Anyway, out for a farewell dinner with my daughter and family - now before her flight early tomorrow morning.

Bye for now.

Oh and one more thing "drilled before pipeline completion" means anytime before end of July and, or September if you choose to include interpret the term completion to include "commissioning" within that definition. So that does not necessarily dictate a Q1 spud date; far from it.

Well firstly Prospero I was NOT talikng about a Q1 spud but a "turn of the year" spud - meaning December /January. And whilst I agree that Q1 is still possible I don't think it likely. Look at the NT2 spud; it took three nearly months to get that spudded and it was only 1.5 km away.... As I have suggested before, the only way I believe it is remotely feasible is if the rig is already "in country" and that M&P are willing to give us use of the rig before they have completed their three well drill programme. And many here have already stated that it is their belief that a M&P rig share is a non starter. I,on the other hand, still believe it is still a strong option and may prove to be not only the cheapest but also the most time efficient option.

And the wording you highlight simply explains the "sequence" of events and says nothing about the timing. Contract to deployment at CH1 drill site could be months - then there is setting it up and getting it signed off.

I think the pipeline is a given and probably "in the price" and the reason for the rise to 2.20+p..... the subsequent dilution, delays to the rig news and the fact that a spud is no longer realistically possible at the turn of the year the reasons for the fall. Where we go from here will be determined by the timing of the CH1 spud in my view and how long we wait for the news.

Hopefully neither will be too long a wait.

Anyway must dash driving to Heathrow. My daughter is off to Australia!

GLA.

Well Watchouse I too would rate a £25 & £50k trade as a big trades - but to reiterate - we don't know, for sure, whether some of those were Buys or Sells and, more importantly how many sells are the MM's sitting on? I can't claim to know, but I am typically sceptical of claims about MM's "manipulation" - more often that not the price is simply as a reflection of trading momentum.

Time will tell and, ultimately, the next piece of news will determine the direction and momentum - one way or the other.

So would I win' (relatively) but that hadn't happened when I posted..... 😉

Let's hope it is the first of many.

" does that now conclude the percentage of ownership and therefore trigger an equivalent RNS (equivalent to a TR1).". In theory yes, it would assuming any one of them has a sufficiently large holding. And the likelihood is that the original "investors" no longer hold any (or minimal) shares and that they have been traded on to others who may or may not have a notifiable holding.

"Big buys"? Really? Personally I would not call those "big buys" moreover, as you allude to, the MM's may know a lot more than you do Watchouse - they could well be warehousing a SELL trade that would dwarf those "big buys"....