Member Info for Daceon

Yes indeed GLA LTH

And wow Shaa it's been a while coming

It will certainly get interesting if we see a major taking a position.

The obvious thing to do here is continue to hold. It's all simple. We all suspect this is a $1bn dollar co in the making. In 12 months time the growth will beat the market average by quite a bit IMHO.

But fomo is real. We know there are people making 20-30% a week trading here. Surely we can do it too? Surely they are right Art can't be trusted. Surely it is going to drop to 15p. And so every emotion screams run run run.

When we know the right thing to do is just do nothing and let the value come through here.

Doing nothing is hard. But that's the right strategy here for me. The day I try to scalp 10% it will multi bag lol

For anyone who has read "The Art of Execution" this is our "connoisseur" investment. The one where we just hang around for 5 years, reading Tiburn's research, Shaa's price action and the rest of us just enjoying the ride.

We are in on the bottom floor in 5 years it's the penthouse for us ladies and gentlemen. 20 bagger and early retirement for some.

That is unbelievable. I mean people talk about game changing but this is unbelievable.

Error am I reading that right... 50ish sq mile X3 wells x1-3k oil each = 150,000k-450,000k bopd per day????

Thanks EV. I just wonder if there might have been a reassessment now that we are actually signing the dotted line and have been shipping ore and getting work done since?

I sent these:

1) what is the schedule for shipping the current reserves of ore?
2) knowing the value of the reserves, how much more financing is required to get Amapa producing new ore?
3) Will this be financed by debt or is there any intention to raise by placements?
4) What is the timescale for beginning production of new ore?

Morning everyone :-)

A Happy and Successful 2022 to you all.

Good to start Blue :-)

Yep the traders will have sold up and a lot will be watching for a retrace to buy back in for the next leg up.

What would stop this trading a range is an institution taking a position and a steady rerate for the next two weeks as we wait for confirmation of the 20%/27% of Amapa.

Give it 12 months and we will be in fine shape with all of the teething problems behind us.

Look at the likes of KDNC - been in the doldrums for years waiting for the promises to be fulfilled and now just about to hit the payload. CEO's name was was mud with investors and now he has come through and earned their respect.

Sound familiar?

All the best for 2022 folks

Super Research EV.

This week could get spicy.

It's not something that I had considered but when you look at it a buyout by a major here makes a lot of sense. The difference will be that they wouldn't be just buying potential but actual proven assets. Also the price here is about to rocket. Will someone start trying to build a position on the open market? KM has played a blinder here for shareholder returns. Holding + adding

Interesting + helpful

Was this also written pre AMAPA RNS?

With the 20% RNS due in just a week or two I'm hoping to see u at 50p within just a few weeks

Thanks EV. Good luck to you mate - you have really kept the faith here and deserve to get a good return.

I've dipped in and out but here for the next few years now. Looking forward to a new valation of Amapa well above the impaired value.

I might be wrong but in my understanding:
1) The bank settlement is agreed and signed - that was the final hurdle for us to take ownership of 20% of Amapa.
2) The paperwork to sort out the ownership of the shares of DEV (the partnership betwenn KDNC and INDO) is with the courts
3) When that is sorted the in escrow $3.5m is released and we OWN 20% of the shares of Amapa
4) Then we can as soon as we like take up the extra 7% of the shares of DEV to become 27% partners
5) If INDO want to and we have the funds available we get first option at up to 49% (not all that likely.)

That is the situation so a couple of great RNS's to come
1) We actually really do own 20% of the shares
2) We actually really do own 27% of the shares
3) Feasibility studies showing timelines and likely profit.

All this should be done by end of 2022 and expecting £1 +. On production we should be £3+
4)

Reposting Doug's research as I don't want to hijack his thread.

Method in the madness :
Cash float $11.5M
Working Capital $6.40M
Shares in issue 194.5M
Free Float. 179.5M

The above from the LSE analysts & so Not ALL the placing was off-loaded, with c.15M retained.
First two figures from above are taken from the Sept.30th financials.
First fig suggests we have $5M available for the running costs,
Second figure then works out at $3.6M short. Of a nice round $10M.
c.$3.6M is then obtained from selling only half of the placing shares,
then creating $10M ‘working capital’ plus that $5M fund for running costs.
*Was posted v.early on morning of Monday 15th Nov that a ‘100,000 sell, then a 50,000 followed by several 20,000 sells then triggered the Pi’s into selling’ so had always been a mismatch in trying to verify the amount of forward selling & as per HFB & LB posts ‘there’s been c.32M volume but a lot was done by the Pi’s’.

$10M available plus c.15M shares….so not tooo shabby an offer ?

Lol, but it May help to explain all/some of the madness.

Quite true (corruption has been addressed in recent legislation) but there is not much money to be made if you don't have experienced companies getting oil out of the grounds large amounts and that within the next few years.

As we are seeing here it takes time to get a fledgling oil outfit up to speed no matter how good the prospects. Nigeria need the money yesterday. All good for us.

Thanks for this Doug. Clearly the company is on radio silence until this is sorted out. If a deal is close all will be forgiven.

An immediate 50% jump in NAV with the ability to properly report all that has been happening on the ground will get the SP back on track.

I'm a firm believer that Nigeria is close too. That would put the cat among the pigeons :-)