The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I have a bit to say on Ciz but will hold off until FEB/March as do not want to tempt fate. I will at the time refer back to this Post to see if my Positive belief held up. So I shall say Q2 will or can show significant step change. GLA to all holders.
Buy Price today 2.69.
A Billion Barrels and they never drilled 1 producing Well. Lied many times over about how much money they were spending desperately trying to keep production going. The cornerstone of the con. Put the Focus on current production to return to 2020 levels (When Art was probably releasing the excess Stock Tank oil from previous Months to give false impression it was an inclining field) , meanwhile all the way they and Ryder Scott knew the “Biggest oil find” in decades was full of problems re extraction.
The BOD clearly deceived re the Companies Financial situation.
“Fully funded into Q1”. No I don’t think so.. Forgot to account for the break in financial covenants from said Senior Lender. CFO remains silent.
New Owner will have brand new infrastructure though. Nice one..
Also ; I firmly believe and have for some time that Art had the field on full tilt but was holding back the numbers and banking them in later months to give the impression that the field was inclining. There’s no way those numbers could have increased / only for the new GGS to fail spectacularly to show any incline. And they lied about that also / promising to declare forward guidance. Bullxxxx.
Anavio could fund £1m but high value dilution to existing Shareholders. Primary Bid an Option to current Shareholders but is rip off but less rip off than Anavio for Equity ? A plan needs to be submitted by the BOD and doesn’t look like they are exactly firing on all cylinders ? And also BOD clearly not looking after average Private Investor so far are they ?
They’ll invite offers around quick sale to cover their money owed only. Any unsecured debt potentially see a return thereafter. Other Creditors third. Shareholders forth in the que without a thought.
I was part of a Company valued at £250m. It went into Admin. After debts cleared there was £70 grand left to be distributed and Shareholders didn’t make it on the list. The Administration fees alone are astronomical. After all they serve themselves like everyone else would. They have no relationship with Private Investors.
Rest assured there’d be no left overs for Shareholders / unless they had an interest in that where which I don’t think they do ?!!
Also ; I don’t think the Senior Lender would so be obtuse re Waiver at this time unless they already had secured multiple potential buyers at the right price. And that price will not inc Shareholder distribution because it’s simply not in their interest / unless a bidding war broke out. Do we think a bidding war ? Nope.
Want we want is to obtain sufficient Finance to be able to sufficiently fund production so that we start printing our own money. Copl / Art did exactly the opposite. Obtained Finance at Restrictive Rates and never enough to sufficiently fund production so that we could grow the Company. So Repeat and death spiral followed. I don’t see them as mistakes per se / it’s all we could get as the field was never de risked. If we could have got better Terms, I’m sure we would have. Meanwhile Art said anything to keep Private Investors punting to create liquidity in the Market. While you’re buying / They’re selling. The game is up I feel.