Member Info for dougb189

Below the blow-out-valve.
>2140m.
After this current casing.

I too remember TW & his crew’s earlier recommendations: when they were saying get out of LGO as it shot up from 0.7p to 1.5p primarily based on it being a good 100% profit but I ignored that call & then made my 1st mill when it hit 7p.
I also remember TW’s crew saying get out of CTAG.
I then wished i had listened to him as it then cost me £0.5M.
His intel is usually pretty good.
Always cross-referenced his thoughts on my other successes.
Peeps would be wise to be diligent.
Lol, but Tom’s politics though are on a par with grandad’s. So what.

Placing was indeed expected by many good peeps on here
& usually being tied into a possible bank loan.
But no one on here yet seeing a positive…
Now think what will happen if AM states ‘CNOOC’.

Most annoying issue though with this debacle is that AM knew that the interpretation of Annual/Financial Reports is generally quite difficult & even stated that they usually get further explained. Yet he completely refused to do so which then resulted in the sp crashing from 32p to 22p.
Then he got his ass kicked off that chair by TW /FCA which then resulted in his eventually explaining the reports & resulted in a recovery of the sp. Temporarily.

Still all to play for, imv (albeit i still want to shoot the CFO).

& WHY is a possible placing being discussed with 20p as the base figure. And that is all down to AM’s atrocious communications.

Placing? & would be v.wise not to ignore. Imo.

Nice one Shouston, similar top up with this month’s loose change.
IG’s 400,000 traders will mostly all have missed the boat
as it is now ‘Closing only : Market unavailable to open’.

Will be 24/7 RT., operating on 12 hour shifts. Guessing that the hot-bed arrangements though have been tightened up due to the covid but will still be one crew asleep and the other crew on deck. Off-duty crew with access to the to lounge but guessing that the internet facilities will be switched off when drilling enters a critical phase. Don’t want the crews telling mum to buy the free float!

Suspect that figure will get further squeezed
as several peeps are looking at building a nice position on here.
Warrants then quickly went for a £5k / 9% profit.

The Refinitv analysts (c.2000) show the total figures 664.2M OS
With 269.055M shares available as free float.
40.47% free float.

Can be seen that there data is only a few days out of date,
As latest RSN gives 665.3M OS totals.

With £1.8M worth of CLNs still to be printed that then dilutes the totals by another 12.5M shares which then increases the free float to 281M shares & totals at 677.8M

41.45% free float when the last remaining CLNs are cleared.
Suspecting that the high volume of significant shareholders will again increase.

Posted on 18 March on another bb (USA driller) of possible moves by CNOOC to release their overseas assets; was primarily tied in with the West’s sanctions against Putin and which then suggested that China’s stance, pro-Putin, could possibly see them being similarly exposed to sanctions might then result in interesting developments. As per this morning’s news.

Now appears that the previous China politics of establishing their global name thru joint energy consortiums (via CNOOC etc) is no longer being aimed for. A significant shift in their thinking.
Then has one considering that with all these extra Billions $’s they may refocus their ‘name brand’ closer to home..
Has me thinking that their recent investments in TL infrastructure may soon get amplified. Significantly.

A nice place to be, in the middle, holding the licence.

Not sure who the large European E&P Company (“Interested Party”) might be but that perhaps ties in with the environmental research vessel Cefas Endeavour which during the last week of February had completed several trips from the Moray coastline then out to Block 18 & also traversed up & down along the coastline immediately south of Block 18.
With O&G developments now needing an environmental impact assessment then this survey might tie in with an interested major then carrying out due diligence on the project’s feasibility.

Now successfully parked on top of Jade.
0kt at 020.5N & 115.75E

Thanks for alleviating my concerns Stas, is I much prefer to see a bb where all the posts remain intact so that we can then individually assess wether or not a post is just noise.
Appreciated, thanks.

There are several paradoxes in your explanations :
1. you state you wish to discuss the pros & cons in a respectable fashion, but then regularly flame all arguments that raise doubt.
2. The only person to invoke Tom’s words to the bb is mysel and you then loudly state ‘the only people to tell you what he says are trolls’
3. You state ‘suspicious nature when it comes to forums’ yet have only been a participant for 4 months, albeit I believe you quoted you were a 30 years investor. And who has retained no previous postings history. And then you invoke ‘suspicious’ in your argument.. several paradoxes tooo many ?

My apologies Big Bear., but I would be grateful if you could paste that as I can’t see it.

I’ve taken the following from Tom’s more serious concern posted today :

“…Perhaps more seriously, Canadian also failed its financial covenant test on 30 Nov 2021 and, when it raised $8 million the following day, did not notify the market (and new investors) of that default. How is this fundraise not fraudulent? You cannot withhold adverse financial information from investors in a fundraise; that is fraud...”

“…. and the only people who tell you what he said are the trolls that want to spread negative rumour…”

Lol, but you are starting to come across as the UK version of Lord Haw Haw..

Thinking that Tom will get little return from the FCA with respect to today’s post on the S. Prophets board. He again asks the FCA to look at COPL’s RNS presentations.

On the 1st issue that he raises, of Copl failing to notify the shareholders of a breach of covenant from August / September last year. Tom acknowledges that in an August RNS, AM highlighted ‘that it appears that Cuda are insolvent’ & Tom then follows thru that AM should have notified the lender & failing to do so was a breech of the covenants for which the lender would have issued notice of such breech & that AM then failed to notify his shareholders of the material issue. IMV I’m thinking that AM would have immediately apologised as lender then waives the breech and that AM then of course forgets the bit about notifying us. Storm in a teacup imv.

The 2nd issue is more serious & relates to their being insufficient funds to satisfy the liquidity covenant on November 30th which was then followed up by a placing the next day ‘for acquiring Cuda’ and for which Tom has asked the FCA to look into as possible fraud.
There then appears to be a slight contradiction when Tom explains later that the banks usually take up to 2 weeks to then issue the covenant certificate and so I am Assuming that the liquidity covenant failed on November 30th and that the notice of failure was perhaps not passed on for up to 2 weeks. With or without knowledge of a failed certificate though, AM would have known that funding was below the $2.5M threshold (& if not & I now get to shoot the CFO) so at least part of the placing would have been put aside for opex & liquidity, so leaving a v. small amount for a Cuda bid (i’m thinking like..$1 as $7M was then accredited to the accounts Dec.31st) which would then be backed up in the bidding process by Cuda arrears c.$5M to $6M.

There is no statement from Tom saying that Cuda has not been bid for.

One of his regular board correspondents has posted a positive slant to the debt arrangements, in response to Tom’s reply last night of ‘yet more debt’.

So for the diligent investor, the S.Prophets board then comes across as similar to here… a wee bit of thuggery from both sides. And all centred on AM’s abysmal communications. Lol.

NH9 now doing 2knts heading NE towards Jade.
20.08N & 115.06E so another c.30Nm to go,
lol.. choo chooo!

That is incorrect dogg1, as a CPR can use one of four different formats, inclusive of seismics, or of strata volumes or of historical charts or as you suggest via drills. The CPR is then a variable depending on the method used to obtain it but that it would still give an estimate under each of the different formats (each method recognised as having a different probability rate).

It is not strictly required to drill 16 delineation wells but this is accredited to AM’s style of field management ie he is known to be a wee bit OCD in seeking out the boundaries of his fields.

‘..after 3 emails to Cathy over the weeks….. and not a sniff of a reply, surprise surprise I get 2 emails from her today...’

So, the FCA being invoked has then resulted in several departments putting pen to paper. That then puts a query on that earlier reply inferring ‘there will be quarterly presentations to the retail shareholders’ with the ii’s already being comprehensively briefed by AM, as somewhat under duress.

One hopes they learn from this sorry episode. Shareholders are rightly going to be extremely peeved if even a hint if a placing is carried out at these subterranean levels.

Thanks Tom for highlighting the deceitful / woeful communications.

I’m guessing that the FCA responded to your request & then invoked the ruling of listed companies responsibilities to address market rumours which are substantial enough for ‘leading the reasonable investors to believe alternative media reports’.

The gall of the man to then state he recognises that formal reports are often difficult to interpret and should be given clarity, but then fails to do so until the FCA are approached, sums up his attitude to Pi’s.

Can then be seen by the CEO’s embarrassing tirade that he is somewhat considerably stressed out; perhaps tied into the severely depleted cash reserves & the February 28th failure to again secure the lender’s covenants.

The general consensus is that Cuda is in the bag, courtesy of a new banking facility which is also believed to incorporate the Atomic $39M debt, but will then need to also facilitate additional ‘accordion’ loan for those multiple capex plans of new piping, new gas plants, 9 mf wells & 16 deep wells. The next two weeks should be very pivotal. Thanks again.

When the GSA lands then perhaps just go easy on the fireworks in the neighbourhood!

Lead vessel sitting 500m NE of rig is the Hua Hu
2nd vessel sitting 300m NE of rig is Hai Yang Shi You 681.

They’ve now been positioned there for 4hrs.

Lol.. NH9 perhaps positioning itself & waiting on surfing the tsunami that’s expected from the Mako field on the completion of our 8.5% of Duyung’s GSA ?!

Thanks Zombie. Its more therapeutic watching the slow movements of the rig’s supply vessels than watching the rather hectic goings on at Faslane Gare Loch, where a lot of the Brit fleet recently seemed to be restocking ‘supplies’. Good time to be in exploration for O&G.