So true fatsuperman….. re the issuing of shares at a higher share price, from my experience this often happens on the back of hype and directors selling shares on the spikes….
They then seem to squander the extra cash raised, which is never enough! then the shareholders get a reality Check for the finance needed, or farm in and not so great terms provided due to the unproven resources…. Even when they have good P1’s and 2’s This then often leads to the mass sell out and the company unable to raise money leading to parasite bondholder lending..! Which as in hurricane case virtually broke the company! And excite took it due to lack of farm in or financing on a billion barrel reserve ….so l would put there chances of going to full production at 20 to 30% it’s a very long road to travel and possibly 2/3 years before any results…. Too many so called investors can’t be bothered to wait that long six month is a lifetime for the I want it all now and on a plate brigade! God it makes us look good! Just need the market to catch on which it will :) I’m excited for events over the next 6 months… Things can only get better…
What he achieved is pumping of a share price! Sales pitch! That is all at present, the rest is potential…What is achieved is pumping of a share price? That is all at present, the rest is potential. Our situation can and will progress at speed from here with real oil and money coming out of the ground not hot air! We can only gain momentum and market cap! Production profit and proven reserves as what it’s all about! Hype only last so long…
Doesn’t he..!! and I’ve seen it all before with Excite energy and hurricane. It’s all very well having potential resources. It’s another thing to get it out of the ground and get the hundreds of millions to develop it….Well that’s a different matter ! So three hundred million for potential is ridiculous! It will end in tears for many! It’s a long term play with value attributed years before value will actually come out ! Not the case here!:)
Magee I disagree with the refinancing at this stage, I believe there will be a healthy cash element to the JV which the company is already aware of and negotiating.
Why would you arrange new financing at this stage, another few months makes little difference!
If the JV fail’s by the end of the year and production is up to 2k plus we will be in profit! And can get new funding arrangements…..Nice try :)
Seems like you think the same about FUM Surfie..!
20 Jul 2023 17:10
I bloomin hope so Surf but what makes you think that? This has got to be the most frustrating share that I'm in, it should be flying but each bit of good news barely moves the S.P.
Oh, dear tranny you do seem upset, and also unable to read! … I said I had a SpreadEx Acc nothing about me being short… I don’t play that game or bet… I’ve been long from the start of my investment and always will be thank you…. Don’t get so upset I thought it was you who accuses everybody else for being rude and abusive?! :) Go and have a little lie down darling!
Interesting… on the claimed short position for retail punters? 18k profit? ! I’m with SpreadEx which are one of the biggest and their books have been closed for long and short for a few months ….So I’m guessing most of the others would have filled all of there risk positions too? Tells us who you trade with… ?
I find it incredible that fast food seems to pretend to understand so much about takeovers, mergers acquisitions, but yet has only elevated himself to a dirty burger van on the M1..!! Maybe he should go on the apprentice and sell him self is the executive genius he believes he is…??!!:)
Great point Stas :) I believe Art has been biding his time with the joint venture partner throughout the year. They saw the potential, but also that the company was vulnerable at the end of last year beginning of this year which could have worked well for them in the negotiations….. where we find ourselves serval months later with further investment, and a work over completed production up and continuing to improve to I believe profitability at present levels….. Our hand has become so much stronger! The games will soon begin I’m so looking forward to a lot of burnt crispy shorters!:) !
It’s a discussion board and it’s a very good comparison!
But only with potential with Panr on the 1 billions potential barrels! The rest I’m afraid they have a long and expensive way to go! So yes it’s good to talk about it…. It shines a light on our current position, lack of market cap, a massive potential!