Member Info for Doc83

Abzzba, can you confirm where you’re getting your figures from? I would be keen to know exactly how much cash we’re burning through on a monthly basis, even if just to work out potential profit scenarios going forward.

TBT - maybe give it a rest yourself for a weekend. That BP must be off the scale.

“Am I thick, Resolution 4 doesn't add up to me. $6.4m is not 43% of the total issued ordinary share capital. The current MCAP is around £20.8m which is $26.2m“

Medjed - you are assuming any raise would be done at the current share price. Typically, MATD raises are 40-50% below the SP. So it would be about 0.8p. 43% additional shares is ~640m shares, so at 1p a nice round £6.4m or $8m.

Hopefully, the SP will rally before any raise is needed. But time is running out. Additionally, MB said in the Feb 2023 raise that they were advised the brokers look at the average SP for quite a period of time before a raise to determine the price, for example, if we spike to 10p for a few days, that wouldn’t necessarily mean a raise at 6p, it could be quite a bit less.

“I will check back next weekend & keep posting to weekend now”

TFFT.

Yes, timeframe has been missed. Keep up, WOS - I explained below.

"Thanks WOS, for all your research."

LOL, Proquo must have that much brown stuff stuck to his nose and mouth!

" If there were major uncertainties, the wording would have been much more cautious."

They have been cautious. They've said "expected", not will. The regulator will be happy with that.

Just imagine the pre AGM operational update saying still no agreement signed but hopeful blah blah blah... MB must surely have something up his sleeve, even if it's a load of nonsense. Because if the above happens, I do expect sub 1p.

"There is argument RNS not needed because Company already tell market expected in Feb"

Nonsense.

There can be nothing more materially positive/important for the company than receiving its first ever revenue! Absolutely it should be RNS'd.

As we've received no RNS, I'm assuming we still haven't got the agreement signed. Disappointing. Very. Surprising. No.

"H1 = a reliable production stream and revenue generation'"

It's been pumping oil for a relatively short time, and we haver received zero revenue to date! Therefore...

H1 = not a reliable production stream and revenue generation. (Hopefully) yet.

RBL complete nonsense. New shares allowed to be issued, 33% to 43%... it's been changed for a reason.

If funding is needed, it'll be via the usual way we raise cash! The real question is, at what SP???

Good one, TBT. Not heard you say that before!

"Have you noticed the dodgy AF trading patterns?!"

"Quite sure MB would give the same factual answers given on here, try and keep up !!"

I'm still laughing at this... factual answers on here?! Some posts might be plausible (or not) but they are most definitely not factual. That can only come from the company.

Deary deary, you really are dense.

So you're confirming he's never been asked it then???

Because the thread title was "Questions for MB", not questions for abzzba.

"Doc, how many times has that question been asked and answered, 20 ?, 30?, 40+ times, boring."

I don't recall MB ever being asked it???

What has the $9m from the raise achieved? Heron 1 we were told was paid for. So a dud H2, a dud Gobi...what else? Renewables? More details please, Mike.

Yes, I think that trade flicked the offer to 1.40p.

I don’t think you’ll hear much at the AGM. It’ll be the usual frustrated with delays but continuing to push hard, confident of a successful outcome, still no update on Heron 1 and 2 improvements and “fully funded” for the foreseeable future etc etc.

WOS got his RNS 😂

Indeed. I don’t mind reading the positives, as long as they’re not blatantly incorrect and trying to mislead (WOS).

I think it’s fair to say it’s usually those that are positive that usually get overly aggressive with those less than positive, rather than the other way around.