Member Info for dai2belts

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My AIM year 2023, is starting off full off surprises,

Gcat, now TW seems to be on the case,
He1, another 273m shares, yet there is that discovery, bar testing, if they are looking for another £10m thats 4p ???

@latorre,
Found this,
But cant really go off that, but not found anything to say within so long of publishing annual audited report..

A general meeting required to be held by:
A public company within six months beginning with the day following its accounting reference date (section 336(1), Companies Act 2006 (CA 2006)).

https://uk.practicallaw.thomsonreuters.com/7-107-6401?transitionType=Default&contextData=(sc.Default)&firstPage=true

https://www.legislation.gov.uk/ukpga/2006/46/section/336/enacted

@Latorre, I never suggested you were a plant(this time)
but if the cap fits lol...

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nice ramp from 88e BB.
Suggests, 4 good shots at a discovery.... :)

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COS represents the geological chance of success as assessed by 88 Energy and reviewed and endorsed by LKA.

Zones, Barrels (mean) and COS for the Hickory-1 well:

Shelf Margin Delta - 145m barrels - 81%
Slope Fan Set - 89m barrels - 50%
Basin Floor Fan - 358m barrels - 50%
Kuparuk - 56m barrels - 72%
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@LegalWolf, What DM says can never be the No1 reason..
Sure DM will change his mind if accretive, why not raise to have a multi-hole phase 2, it has its advantages..

So with £10m in the bank, plus the remainder of the previous funds, why not a March AGM ?
Must be speculating on drilling soon, so needing to get everything in order for a raise..

Lol, Exactly, So if they have discovery the standard 100m will provide more funding than they have been able to raise at any time so far..probably more than the combined funding from the start 5m, 10m and 10m..

So what about 100m, no questions asked, that amount provided £10m pre-spud Tai
Then a vote on the other 173m

It will definitely provide enough funding to buy a Mining licence for Tai, and probably take the company well into 2024 planning for production, well unless some decide they are worth £1m per year.....

Remember not so long ago with were being tempted by the suggestions of the likes of Air-liquide providing finance with off-take agreement, debt financing and JV's..

Talk of being frugal yet have a bucket for the handouts...

MMMmmmm, funding for the plant is years away, got to get a rig first, then a discovery, change licenses, planning, costing and I guess the modules will need manufacturing and are not off the shelf..

I would guess in between, if there is a discovery, and rig availability has improved some time will be spent increasing proven reserves...That way you have something to offer towards debt financing ??

@latorre.
I am no expert on this stuff, almost clueless, but if they can still raise while also requiring a vote , then thats the way to go if you want any chance of an open offer.

It may cost the company more and take longer, but at the end of the day when your buying shares that were placed at 5p for 7p your paying a 40% premium, so there is no real saving to those who ultimately pay and carry the risk, just lining others pockets, although probably making it easier to attract investors..

It Is not like they were in any rush to raise at the best share price of 2022, choosing one of the worst times, probably under pressure to fund the Exalo rig..

If they are a World Class team, then they should be able to manage the time lines to finance regardless...

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Trp, raising funds but seems more about covering working costs, rather than getting that Cameroon well drilled..
Sounds like life styling at the expense of others,............

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The RNS killed any chance of a little run from Fridays rise, the MM offering near the all time low as the Bid this morning, sharks..

Best AIM in my pf, and most stable share at the moment is 88e..
Second most stable EOG, pitty about the spud though..

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@KevR still in, if they are not pulling the wool over people eyes, then it should exceed my 2p average..so its a hold, and patience...

Seems the BB dont have clue who the Moroccan trials are with, with so much delay I just hope its not a really big company going through the motions of looking at greener options, with big pockets, able to trial many options at leisure, only selecting standout solutions..

So a bit concerning after how things changed with Gcat, and He1 clearly misleading people about having a team on the ground to expedite those export papers, amongst other things...

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Its very simple, giving the authority means yet again the institutions will provide the funds, and the LTH will have to buy them at a premium, suffer the dilution and carry the risk... After the 5p raise, those who paid 7p were paying a 40% premium. The LTH with averages of 15p, would have benefited greatly from an open offer at 5p..
The cost of avoiding prospectus is costing the LTH...

DM mentions the share price looks after itself, but the lower it goes the heavier the dilution, and the lower the share price..
At the moment we have a shallow onshore project, with no pollution issues exceeding the costs of off-shore drilling..
And they want more ..

There some gullible guys here or plants..

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Been out most of today....up on the hills for the afternoon, lovely
So need to catch up,

IMO, Last thing people want is to allow He1 to raise without voting, not after last year, with it looking like Cluff are the beneficiaries of that Audit, and also He1 being willing go through all that, and yet throw it out the window for Exalo..
The fact the AGM appears early, and they are asking for 273m(not a round figure) suggests they still dont have enough..
And remember this was originally sold on £/$5m being ample to complete a 3 well exploration project..
25m bucks later............we want more
With the likes of Stalker, I find hard to believe they were so far out on the costs, added to the fact the original $5m plan appears to have been binned from day 1

Can only think the LTH are getting taken for a ride

They would be better off on AIM, continuously asking for bigger shares issues, while at the same time refusing answer share holders questions about funding and the likes throughout the year..

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@Tro, seen RBD mentioned a few times, shared resource with Ummmm, another 2 oilers, cant recall....

More to ponder over, with H wanting to be able to issue up to 273m shares,..
1st thing that comes to mind, is the lower the sp the more shares you need to be able to issue
2nd, maybe they are still short of cash after only being able to raise 200m at 5p, not 7p, thats a short fall of £4m
3 rd, they feel dilution is still the way forward even after mentioning funding through forward sale contracts, and debt.
4th I can keep going,

Was some journey for that ball, but it needed a swift clout to the rear to get it there lol

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Geni, IPO 40p now 15p after doubling...............

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@Tro
I have Jay and BMN listed as you mentioned them before, can remember why but
I need to go back through the postings as you tipped a few, that had'nt moved ...so much stuff..lol

Fingers crossed on QFI

Gcat, hopefully the weekend will have eased any sell off ideas that 4:30pm RNS mustered :{

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I am learning lots here, really struggle to keep up, so all over the place..put a few posts here last week for the weekend..
Not managed to look at them, cant recall the companies..
I cant keep up with Tro, so I need to learn to manage my time better... and put it together, still giving away my money..
Still hopeless at this game..

88e, not an investment but hopefully a low entry opportunity created by a funding requirement for their drill Feb/March.
Then hopefully plenty more have the same idea and push the price up at least to spud, after spud, especially holding for the outcome can be costly more often than not..
Worth watching even if you dont invest, as funding through to drilling opportunities happen quite often..