Member Info for Daceon

Following this share has been a very good experience. I am sure that I'm not the only one who got into hands on investing over lockdown. A valuable lesson that I have learned is that old chestnut patience.

If at some point the fundamentals here change there are reasons for concern but there seem to be several scenarios that are possible
1) Production has been choked/withheld/contained to create the best conditions for Cuda buyout
2) Getting to full production by miscible flooding has been problematic. Lots of learning being done by the team. Different strategies and infrastructure required to take the brakes off.
3) There is no oil.

Clearly 3 is not an issue. 1 should become evident in weeks/months. 2 is ongoing and our CEO said that he is very happy with production and response to MF in January interview. Therefore that should happen this year.

I actually think this is a very low risk investment with great upside. Literally none of our potential good news is priced in. I think the traders here are very skilled - its their livelyhood after all and I respect that they are making a living.

I'm happy to wait years. I have approx 15 years to retirement. If this company increases in value by 15x over those 15 years I will have a very comfortable retirement. I think that is realistic, maybe even in the next 24 months. I certainly think in the current global situation this is a relativelty safe haven with little downside because it is so unloved.

No worries mate all good.

Yes look at Kefi's RNS today regarding resource exploration in Saudi. At some point that is going to happen. During that transition Saudi will want to maximise their profits from their oil, not have a fire sale.

Tonlin was just about to put you in the green box bin but thought I would just check you intended that last comment to come across just as grumpily as it did?

I'm not expert enough to answer your question knowledgably but I can give you a hacks opinion

1) I'm not sure Saudi has the stockpiles of oil just sitting to flood the market like that. We are experiencing shortages as is.
2) I doubt that they have the infrastructure to carry that our for very long. Globally, nvestment in new oil production seems to be part of the problem.
3) None of this would affect us anyway as we are being priced as bargain basement tiny production, no potential no buzz.
4) To give an opinion on what Saudi/Russia/West is going to do in the future is real crystal ball stuff and the regular posters here are too experienced at waiting for this egg to hatch to try and guess what tomorrow will bring.

Hopefully that provides some perspective.

Paying £1.50 at the pump I find myself amazed that we are still languishing at less than equivalent suspension price. Clearly the market wants production figures.

Was reading the SNG boards yesterday. Really feel for those folks. A lot of folk who invested their savings based on optimism and telegram getting really hurt financially. Tough game this.

The updates will come.

There is a small cadre of PIs here who know the story and are in this for the long term believing that despite the inevitable things like fundraises and production problems etc etc there is a strong case that in the long term this is really going to give a fantastic return.

Then there are the traders who are happy with lots of little bits of news that cause the price to rise and fall in a range to work their magic.

But I don't think the wider market is going to take much notice until we show that the oil is coming out of the ground and the revenue tallied on the accounts. Next update, whether next week or July, should show we are on track for 5-7K into our pockets by the end of 2022. That's when things will start to move. There's not much point doing anything else and anyway CUDA is still ongoing so expect that Art is keeping things close to his chest. Wouldn't be surprised if he is chatting about a farm in with a major either.

The CPR for the discovery is a massive bonus that will just blow this out of the water.

Yep its a waiting game here. So much news to come over the next few months. I suspect that once we see some decent production improvement the rerate will begin. At the moment it looks like we have spent a lot of cash with little reward in bopd. I suspect that is what is holding it back. Next production update would benefit greatly from being the beast has been unleashed rather than here are the reasons why our amazing potential is being held back

Nick I'm all for a variety of opinions but personal attacks not so much. Constant negativity + rudeness = green box. Personally I think EV posts a lot of helpful research and I look forward to reading more of what he digs up. Happy to hold here great prospects for exponential growth over the next 3-5 years

I get the impression that behind the scenes Kiran was under a lot of pressure to pay up or get pushed out

i'm no expert on this but is it possible that the open offer shares are being forward sold?

Forgive me if I'm way off the mark....

I get you Mike.

I do understand your frustration but I worry that this is causing you a great deal of stress.

Surely you still hold because you believe that you will eventually get the return that you hoped for? I would agree.

Otherwise you you are causing yourself a lot of frustration, and costing precious hours of your life, posting on and following a share that you don't believe has value?

You could easily sell up and buy into a company that you believe will succeed.

Emotion makes for terrible investing. That's my point.

I'm only sharing my thoughts here so please don't think I'm being patronising, especially if you are really disappointed that we haven't jumped 100% today.

I've been very keenly watching this share, along with others, for two years or so. I thought I was very clever and could beat the market in the beginning! Well I lost a lot of money! I'm sometimes still tempted to trade. Lose a little money. But you see the pattern... I'm not going to make money on short term trends.

I am a bit of a nerd when it comes to fundamentals though. A long term chart (over a year) can look just as exciting as a 100% rise in a day. It just takes patience. This is a tiny company transforming into a major company. Let it grow 2% a week. that's a 180% rise over a year. With the prospects and resources we have that could continue for a few years!

I would actually prefer that to big lurches up and down which would make this into a traders share.

They needed the cash for the extra 7%. Yes it is possible that the open offer might hold back the SP until it's completed.

I don't care about sort term prices. Is the company a much better investment than it was on Friday? You bet. There are so many market variables play against us PIs in the short term. It never seems to go out way on news and the P&D experts always take their positions before the hype begins.

Should be 10x + in 3 years. Happy with the progress. GLA LTH.

It could still pop to 60p after lunch :-)

Congratulations to everyone involved. Here's to a very interesting free weeks :-) With hindsight, the board have given us shareholders a timely little bonus with our option shares. Congrats Kieran + everyone at Cadence.

Yep my figure were a quick mental equation yours are more accurate Liquid.

10m of options for the BOD at 34p.

I think the pi offering is purely to stop shareholders going bananas at the discount. I loaded up this morning thinking that
1) The deal is done
2) The offering will be individually be small and collectively dilute us.

22p for as many as you like with 60p ish a few weeks away

I didn't expect that the price would immediately drop to placement price. Could be that the IIs have large orders in place hoping for sellers at around the placement value.