Member Info for DanBrown83

That’s a mass amount of dilution potentially, I don’t see what choice you have, it’s very much invest or nothing

Just to authorise the share cap, can’t release details on any investment until you have the funds to purchase it

Thats very true mcadder - hence my point that until you have that information, this is a total gamble
AJE has 2years left of resources in the active wells as per CPR report and numerous updates, minimal held value, a lot less in terms of current Market Cap here

The fact is, there is the potential for a lot of shares here in a very short space of time
If placing goes ahead following meeting, there are the following:
c61.6m shares will be in issue
c6.7m shares worth of warrants at 0.4p
c14.8m shares worth of warrant at 0.8p
c4.4m shares worth of shares as share options to Senior Management

Thats 87.5m potential shares
pre Sheikh, there were 27m equivalent shares in issue (minimal warrants and no Share Options) and the price was 6p
what has changed, Licence Renewal Fee paid, Working Capital is probably OK, new Director (who has just failed on this same asset via EER) and are now 'investigating new potential assets'

no concrete forward movement and 3 x the number of potential shares
its difficult to get excited on this share until we are informed of an investment or update on AJE

his first post was after Shaikh sold but he makes reference to the previous placing so it is likely his first position was around the 16p placing time or after Shaikh selling and getting in under 7p

7p won't be broken until there is tangible news now, the 7p placing may represent a premium placing but it also acts as a mental ceiling on SP in the Short Term, it also likely represents a circa 6p floor too unless there is very strong selling action

As the Holding Company are in Liquidation, then the Nigerian Subsidy is within the liquidation, it does mean that a company can purchase the Nigerian Subsidy at 'Fair Market Value' via the Administrators a lot easier
OO has no say in what happens to the Assets in EER now but he will likely know whats happening (informally of course) with these assets and if there are any other interested parties

they never mentioned me on that list, i feel a little gutted tbh
why can't they just say - we messed up

No update from Panoro on AJE - its on a different prospect

The DHIBM-1 well was drilled on the Hibiscus Updip prospect and reached a Total Depth of 3,538 metres. An oil discovery was made in the Gamba formation with an overall hydrocarbon column of 33 metres and average porosities ranging between 21% and 23%.

The initial results of logging the Gamba formation at Hibiscus Updip are highly encouraging. Our operating partner’s preliminary assessment indicates that the discovery may be larger than the gross pre-drill estimate of 12 million barrels of prospective resources. The Joint Venture partners have therefore decided to proceed with a sidetrack of the DH1BM-1 well and we will provide an update of the results of this sidetrack in due course.

He hasn't bought any but if ADME are in any form of negotiations to acquire an investment he won't be allowed too until this has formally been announced

Peel Hunt have reduced their holding from last notification
9th September RNS stated they had 9,518,286
11th September RNS stated they have 9,367,900
so this is a reduction, pretty simple maths

In regards to Zark Capital Limited as referred to in RNS, the Accounts are crap and don't show any material worth, the 100% shareholder has business interests in property in Switzerland and would seem to be worth over 10m Euro, albeit there is limited info, in regards to Frangos, i was wondering if it was another of instrument of him investing without it been him investing formally.
Going forward, the SP now really hinges on what this investment is / AJE update for phase 2

No - they reduced their holding

Who are Zark Capital, never heard of these, crap accounts, 250k turnover and 5k profit with a negligible balance sheet don’t sound like the investors for oil and gas, nothing on website of this industry type either, small premium in placing but nothing major, more shares and more warrants (albeit at 8p), really need to know what they plan on investing in to see this strategy as RNS again states working capital and to appraise potential assets and ‘invest’ in potential assets, let’s hope for you guys it’s a decent investment

First time we have heard from him, doesn't come across as confident but maybe hes just not a great speaker (personally i'm terrible at it) but when it comes to technicals in my job i come across really well, he didn't
You can't blame OO for Shaikh, he was appointed after Shaikh invested and i doubt he was reason for Shaikh leaving
The biggest near term question is obviously if they are assessing a few investment opportunities, where are these funds going to come from, surely got to be more than £500k to be of a decent quality. The conclusion is be prepared for further dilution. (speculate to accumulate)

I'm pretty sure that the 140k is just a round number to keep our simple investor minds in check.
1 year might be 130,000 OZ, another year might be 150,000 OZ all depending on the area of the mine (depending on grades and rock type) throughout the life of mine

If they are to raise £500k again, it will have to be for something more tangible than last placing (working capital and to appraise further investment opportunities)
£500k isn't a lot to raise to acquire a decent asset (or a small percentage of a decent asset) so would be really interesting to see their plans.

At this price, there is plenty of scope to really go north and make some
always a risky sector pharmaceuticals but the rewards are huge if further studies are positive

If peel are accumulating, it’s for who and why, we know it’s not for them
Suppose we will find out soon enough

that might mean me not posting until 2021

First thing I looked for was this update tbh, it was promised on Monday I think to a poster here that there will be one this week, now it’s soon, then it will be Christmas
I will wait for the AJE phase 2 development plan, funding with the partnership to be sorted

Thought some holders in communication with ceo here were promised one this week from bod!!! Still nothing I see, maybe next week, month???