Member Info for Doc83

WOS, as said yesterday, funny you’re smug about another company’s misfortunes when we are around all time lows 😂

Yes, we need that oil sold asap. Because £2.5m is nothing. You’d clearly never let it get much below £1m before you raised cash because that would be reckless. Bear in mind, WOS was wrong wrong wrong on the last two raises.

I’d say we absolutely need the MG/PC deal sorted AND the export permit in January at the very latest. And don’t talk to me about soft loans… that facility has been there for years and has never once been used.

I’ve been accused before of being pessimistic, yet wasn’t pessimistic enough! In any case, I hope you’re right and I’m wrong.

Continued delays, further problems with drills, potential raise… all are very possible. Certainly more possible than me getting hit by a meteor.

How is all the downside priced in? If there are continuing delays with PC/MG deal, Heron 1 and/or 2 production can’t be increased or will be costly to do so, potential annual cash raise, another permit that we might need that we never seem to know about until it’s needed(!)?

All of those bar the last are absolutely feasible.

I’d like to think there’s much more upside potential than downside, but to say all the downside risks are priced in isn’t correct.

Aether, there was a presentation by RM many years ago where he detailed what a company will typically sell for if they have a P2 or a P3 successful drug. It is feasible if successful in this new P2 that it could be sold for many hundreds of millions. But I think it’s probably best to accept that the money investors put in here pre sprinter failure is all but gone. I’m reticent to put more money here… I have no confidence or trust in RM and TFG now have too much control for my liking.

SNG aren’t going down the plughole but investors who put money in prior to the Feb 2022 trial failure are going to be wiped out.

Anyway, this is the MATD board and I think it’s quite funny to be smug about another company’s misfortunes and of learning lessons when MATD are 1.45p and around their all-time lows. Massive risks still here, oil in the ground is no guarantee of success (just look at COPL and TXP and many others) and the next RNS is vital… If we continue to be unable to sell our oil, a raise is almost a certainty and yet more shares in issue, making it harder and harder for existing holders to make money unless willing to dip their hands in their pockets once more.

No chance of me learning anything here. Unless it’s lesson on how to stalk someone 😉

Anyway, last minute Christmas shopping to do. Real shopping with a real wife!

For the record, I’ve never once brought up SNG on here!

“Laughing at others losing money is something you wouldn’t do to someone’s face so don’t do it online imo.“

And yet the likes of Thornogson and WOS do!

Margaritas… original!

Control freak TBT STILL pretending he’s filtered me?!

Bored much, Thornogson?!

Neither are honest. Mike “will there be a fundraise, no, we’re fully funded for the foreseeable future” Buck? But then most CEOs on AIM are crooks. It’s all about screwing the PI over as much as possible for cash.

If Karma is real then we are all screwed, because no chance of the karma not catching up with you!

On TFG, we reckon they're in for £60m ish already at roughly £1 average (they have 58m shares). Let's say this will now take them to £80m. They're clearly hoping for a mind-blowingly successful P2 and then perhaps move this on post P2 trial to a BP for a few hundred million.

Now, they'll have 958m shares, giving them an average/breakeven of 8.3p.

Gampy, I read it that if PI's don't take up a sufficient amount of their "entitlement", then TFG will take them. If TFG end up with 75%+, then we'll delist. You'll still own your shares but it will be difficult to sell them and much more difficult to hold the BOD to account.

I'd be surprised if PI's don't take up enough shares but delisting is a real possibility. Regardless, you will now have TFG as a superpower with a minimum of 64% of the company with seats on the board and able to install the chairman (if MPB leaves).

If you think the SP will go higher than 2p and they won't delist, logically you should take part in the raise even if it's for a short term trade. But for this who already held shares pre Sprinter (and maybe even those who averaged down in the 20-30p range), I'm sorry to say that money is gone.

I cannot fathom why RM was so smug at the AGM, saying to judge him on this RNS today. It has completely wiped out LTHs. If considering putting more money here, you have to consider it as a brand new investment. Concerns now? RM still CEO (I'm staggered), TFG with absolute control...

Mumbo, that is actually the way to do it. Right now, I'd rather SNG go bust than carry on like this and allow the likes of RM to continue earning such crazy wages.

Fun fact - we had exactly £18m in the bank at end of June 2022, post sprinter. The wasted nearly 3yrs of salaries and whatever else has really brought us to this. A shambles.

Y-Alam - there’s Gusto who doesn’t hold but he is a blatant trader. Then there’s Espen who was shot down for daring to be negative and then harassed on other boards, so he’s decided it’s payback. Blame WOS.

Other than that, I think everyone else is a holder despite what Abzzba/TBT etc like to say.

Still trawling through it all. But the existing NEDs are out, including SSH. TFG can appoint two new ones. And if MPB leaves they can appoint one of their NEDs to chairman.

Effectively, TFG now running the show and as mentioned earlier it is a backdoor takeover for their £18m.