Member Info for dougb189

That then perhaps helps explain the most pertinent question pertaining to all investors but which the TG3 group totally failed to address, namely why the need for an incredulous 1000 : 1.

& behold… AM wishes to partake in building a refinery ?!

Fingers crossed though & an RNS then arrives rescinding that notorious 1000:1

Lol…you are right, I didn’t think so either.

Http://pipeline.wyo.gov/AllOpcoProd.cfm?oops=ID48157&RequestTimeOut=65000&nOpco=1769

Peaked at 62,415 bbls during August 2021, so c.2013 bopd.

It was very note worthy for the LTH.

AM had released two RNS’s that month, with the 1st RNS c. 17th stating bopd was c.2200 and the second RNS, c.30th stating that the bopd had increased 25% and was now 2750 bopd. The data thought from the WOG website then showed only 2000 bopd.

Matt’s lack of any ‘factuals’ will be discussed. Over the weekend.

GGS Phase 1, for 9 wells out of 36 so c.25% of the field.

RS Report / COPL in-house estimates put field at 7000 bopd.

25% gives just under 2000 bopd (the 9 wells inc. some top producers)

in addition to the c.1000 bopd from the rest of the field at today’s pressure.

It could be that within 2 months, possibly 3000 bopd from mf

& maybe 300 - 400 from CC.

Thanks for posting Matt, I’ll reserve judgement. Until the weekend

.

Another day perhaps closer to that figure of 500M shares :

The dastardly MM’s dropping the sp on a £1.26 trade at the closing bell,

After a long ‘blue’ day of £140k buys v £4k of sells..

Kinda suggests, that there’s a ‘rinse & repeat’ bond notice arriving soon ?

‘.. Doughb … going by your figures … we've been diluted 2.68x …

164 million shares in October 2021… 440 million shares today … 440/164=2.68

a consolidation is not a dilution..’

The context Genghi, was in the final sentence :

‘ a 1000% dilution for those who bought in from 16th December 2020, the date of the initial announcement of Atomic purchase’

And for which, on 16.12.20 there was approximately 4.5B shares in circulation, which then relates to 45M after the last consolidation of 100:1 and that now there is c.440M shares so almost a 1000% share dilution. & All done off the back of the last consolidation. With still heaps & heaps & heaps of confetti yet to be laundered..

Thanks Genghi., I’ll try and do the same after hours this week with trying to catch up on latest developments here. A wee bit disappointed with the poor RNS given out yesterday with literally nothing substantial related to any of the JV requirements ie the CC development effectively on hold.

Perhaps it is just as well, not making any further investment decisions just yet, & taking a step back, so possibly indeed saving my last foot from being blown off by an incompetent AM.

Lol, but he needs to pull a hoomungous rabbit out the feckn hat.

Recent 100 : 1 consolidation & the following 12 months…

1st October 2021 : 16,426,953,124 consolidated to 164,269,464

1st December 2021 : $8,000,000 accelerated book-build 20p. total of 194,519,464

1st April 2022 : 2021 financial results ‘..broken financial covenants..’ 34p to 22p

19th April 2022 : $13m Accelerated Bookbuild 20p. total of 244,449,464

13th May 2022 : TR1, Clarendon Trust, ‘below 3% threshold’

22nd July 2022 : Proceeds of $19.7 million from the Convertible will be used to finance the cash component of the acquisition of the Cuda Energy LLC

22nd September 2022 : conversion of bonds 16.75p .. a total of 266,336,466 common shares.

===================

So where are we now at : currently 440M shares in circulation with 403M shares from bond conversions and 130M shares from 6.75p warrants. A 1000% dilution for those who bought in from 16th December 2020, the date of the initial announcement of Atomic purchase.

Can you put that in context with what is happening or with what is needed to be happening Genghi ?

As a quick recap, the JV are interested in the Fed Deep ?

There was ONE new well brought online to assist verification of 1B+ OIP.

That well then produced, approximately 125 bopd, for how long.. c.1 week ?

There has been no further official data from any further development of the Fed Deep that is directly tied into any alleged JV ?

For AM to then develop the Fed Deep he then has to install additional plumbing over the hill & down into CC. At some point in the future.

The muppets though will state that the JV is happening tomorrow… Is that about right ?

‘Shot on the foot’ ?! Is that ONLY the foot as the LTH seem to have been thoroughly decapitated :

As per the recent analogy by the Llyw-less wonder that this is akin to Monty Python, and so totally failing to realise the parallels with one of Monty Python’s best ever sketches :

&where we saw King Arthur decimate the Black Knight by multiple slashes ?!

King Arthur : stand aside Black Knight I’m here to cross the bridge to the dark side & decimate the Pi clan..

BK : none shall cross!

KA : chops knight’s arm off with a savage 40% RTO slash

BK : tis a mere scratch

KA : chops knight’s other arm off with a savage 33% slash from an RNS (01.04.22)

BK : ohhhh, tis yet a mere another scratch

KA : chops knight’s leg off with another RNS (Feb 2023) resulting in a 66% loss.

BK : hopping on one leg, shouts defiantly, ‘tis merely a scratch.

King Arthur : chops the Black Knight’s last limb off with a 1000:1 consolidation & posts “give up you eejit, there’s nothing left of you to fight with..”

BK : come back & fight! Or I’ll bore you to death on the bb’s.

Removing ALL the directors without then having any consideration to a back-up plan, could be described as being foolish. Suggestions already given are that the 2 new independent directors remain in addition to eventually installing Liz on the board. She retains the continuity & hopefully brings some much needed 21st century management practices to the company.

AM is currently both President & CEO so a NO vote is not quite the apocalypse :

‘..A CEO is tasked with carrying out a company's mission statement, managing its overall strategy, and ensuring its strong financial performance. A president is primarily responsible for the operational management of a company..’

AM’s oversight on the strategy has always been rushed : those rushed financial placings with several being done within weeks of each other ; the rushed engineering resulting in the planned increases in the gas operating pressures up to 10,000psi whilst the field was utilising B&Q plastic tubing designed for 2000psi ; & those repeated rushed RNS statements resulting in significant losses in investor holdings & confidence.

AM still retains presidency which still assists in any of those alleged 3rd party discussions. The suggestion of ‘company fail’ without AM does not take into account that if indeed a failure was imminent courtesy of his removal from the board, that AM could then easily negate the ‘company fail’ simply by posting of any proposed JV. Sure, he might then lose the JV but the immediate ‘company fail’ would be rescinded and that 1B+ OIP could then be open to other interested 3rd parties.

Guessing from yesterdays market reaction that most peeps were hoping to get an update on the CC developments ie. those developments directly tied to a JV. Oh well, maybe next year then.

‘ listed are instances of multiple mcto's’ which were voluntarily raised by copl to allow sufficient time to complete the audits. having recently acquired the privately owned atomic it then took several months to get atomic senior’s dire book-keeping (his back of a ***-packet accounts) up to proper standards.

‘appointment of administrators’ refers to harold ludwig’s being the chair of zakitta when in 2013 administrators were appointed.

‘ issuance of court orders under "cc double a" and investigations by the sec into certain violations’ then refers to john cowan who was a director of dundee energy until april 2017 & which then had 4 months later had a court order for protection under the companies creditors arrangement act.

was impressed with how am protected the remuneration committee of carello & ludwig under the umbrella of the auditors vote ie there is not an ‘against’ vote, there is only an ‘abstain’ vote, thereby protecting the two geezers that enabled the compensations totalling $1.4m to am for his last 12 month’s performance.

did vote am off the board & so would be happy to see liz then step up, hopefully bringing some 21st century pr practices with her whilst retaining her old man as the senior mud-hound.

Quite an interesting development & one that I thought that at least some of the more astute of the Messiah’s mob might have at least picked up on, is that it now appears that one of the ECG monitors has just started flickering into life.

A monitor btw that is generally only ever used with healthy patients!

And even though the reading is a small negative it does rather suggest that some independent analysts do believe there may actually be a pulse :

PE -1.2x

Lol, it may sound insignificantly small, but it is a fairly positive step forward. And as discussed on here a month or so ago ‘as and when the company eventually starts making profit’ that this would be one of the metrics normally used to re-evaluate the mc. Currently only one web-site has started using the metric with most still emphasising the PS ratio (small decrease, but the PB showing small increase) and so hopefully the rest will soon follow.

Thanks Shouston, appreciated.

There’s quite a lot of detail in there which AM will then have to update on.

A good move bud, posting it after hours.

Thanks R_Dunc, good strong argument for & that’s appreciated.

As you state it’s almost perfect.

And then Fastfood goes and delivers a stunning piece of original thinking,

Which then appears to fall in-line with AM’s poor karma..

I would agree R_Dunc that the BH were 100% supportive, right up until the point where AM then floored the sp on Feb 1st. Now we appear to have an urgent need to find fresh markets.

All hinges bud, on wether AM’s word of an incoming JV can be trusted.

The arguments for & against have been fairly well covered.

Certainly worth keeping some dry powder.

Thanks Antha, is difficult to call which way this would go.

With respect to the possible incoming divi, then I’d probably stick a small 6-figure sum on this, ie. 7% to 8% of divi, and that would be done under caution. I would much rather I was purchasing on a Stage 2 scenario with the stock gapping up, than the current Corpse status.

That’s a good call R.Dunc, that it is perhaps to hide the effects of the dilutions from the bonds.

I would suggest though that there is perhaps another reason, namely that it is going to be far easier for the bonds to be rinsed at £5.25 up through £6.75 to maybe around the £12 mark.

Dear departed Edmund Fitz, then called the maths correctly,

when he calculated that Q1 netbacks was in the region of 18p to 22p.

Which then just leaves his calculation for 12p in August to surface.

And that will be then be far far easier to rinse when at £12.

In the vain hope perhaps that the dog then gets a severe boot up the erse, that some semi-competent management bods can be found & to then jump-start Frankenstein back to life again, without the further reckless spilling of peeps blood banks.

Utilising the Llyw-less one’s Monty Python analogy, then perhaps it could currently be best summarised as.. “..this parrot is dead” ??

& of course its just rather nice baiting the Messiah’s mob.

Lol, So how on earth does one short a corpse ???

Its on the mortuary slab and peeps reckon there’s a shorting crew, presumably all sat around waiting to cash in when the corpse presumably lands on the mortuary floor ?

But! perhaps rigour mortis has not yet fully set in…Then it’s no wonder AM desperately needs a fresh supply of blood.

One suspects that with Altag’s impressive hooomungus large pair of balls that he is perhaps carrying a spare car battery in his underpants and that when the time is right, he’ll then connect the jump-leads to the corpses nipples & hey presto, Frankenstein has a limb bouncing off the 6.75p mark ?

Lol, perhaps its the enjoyment factor Brel, on watching alleged grown men, get all confused & scared when they are out of their depth. Own the game, wee man.