Member Info for Fastfood

Can also be referred to as “You’ve been Arthur’d”. “Serious diluted” or “Subject to the cost of Fine Dining”.

Yes LtdA. Thank you for more thorough explanation. Ciz played a blinder.

Dear all. I am Ciz investor. I can’t understand why at $2 you haven’t exercised your CDT Put Option. You get more Shares Yes ?. But someone says you only get $5 price because of the 10 day average / but surely that better scenario than our exercise at $10 !! We got 400.000 Shares only. What a mess !!

The low SP re CDT is good for you yes ?? In the hope SP goes up of course. Is CDT in danger of de Listing if MCap goes below $50m ? But that would mean SP below $1 ??

Any Experts on here ??

Thank you.

This has to be the worst launch to Market in the history of Nasdaq. From day 1. Dodgy even pre launch. No positive communication re the potential.

I do not understand why Vela have Not exercised their PUT Option yet ?? CDT is $2 !!! They get more Shares at $2 vs $10. ???? Any thoughts ??

$80k a day profit No.

We are extremely unlikely to make anywhere near $80 a day profit upon 3000bopd. But we all get the idea.

You absolutely should average down. And I say this is best time. Costs cut. GGS installed. Art out. Just need to increase Oil production.

Now that Anavio have come in and declared 2000bopd Break Even (After Cutting Costs), no one can deny that Art was in it to rinse the Private Investor and Sell a dream purely relying on hope to get there without any actual plan.

He was spendeth money like confetti and like the oil would come out the ground all by itself.

Pilot. Any superior outfit ie Oil Major will conduct comprehensive research into any Oil minnow re Financial Status and how the Company is constructed. They will use such knowledge and deliver this into the negotiation process and Taylor an offer to get what ever conditions they desire.

They Employ talented people to ensure maximum value is redelivered back to them vs Risk. Simples.

Pilot. Re the “Make whole”. Of course they MUST include this as one of outcomes and yes cash payment would have to appear re that outcome.

But I think it is merely a Unique Selling Point and intelligence from the BOD to inc it in RNS - Softens the blow a bit re the Bonds doesn’t it ? Communicating it as a possibility.

For me they are merely saying it’s an Option. The chances ? Low imo. A unique selling point to the Private Investor rather than the JV Party.

I look at it like this.

Would Oil Major give us $70m ? $50m ? Even $10m ? Why would they ? Any Cash payment would mean it comes at a cost. An exchange for something. And that means minimal dividend from the field production.

So I say No cash or very minimal. For that reason.

And again. $70m cash payment clears all debts and that Value is delivered straight to all Private Investors via SP. Whilst desirable to Anavio now / If they cashed in on all their Bonds and banked it / They’d be giving away future Income.

It’s all in the balance and we can all see it’s quite complicated re Value v each barrel. Each barrel also is valued differently.

Going against my opinion re No up front cash / I do maintain Anavio do not want to run an Oil Company / so they would take an offer. It’s complicated.

My train of thought remains with the fact that $70m cash payment would ultimately take the value from % share in production. And again / The ease of delineating the whole field is simply not going to be achieved first / second or third drill is it ? Cash later down the line ?? It’s complicated.

Just my thoughts.

Agreed DGF.

The BFU is there to cover Expenses and fund one drill per year. Why would an Oil Major give us cash when 1 / We have No Expertise re Development and 2 / All the cash will ultimately go to the Development.

No, I think the Oil Major are best served where to deliver that cash and that for me means into the Asset only. Now it’s Copl’s Negotiating for how much Cash they can get back off the Receipts for Oil Sales / Offset by the fact that what would we get if we funded it ourselves ? We wouldn’t get very far. Anything over 10/15% would be welcome. Also then comes the Weighting ie : The % Dividend back to Copl would not be linear when running alongside Production. Barrel 1 would not be worth as much as Barrell 100.000. All about Risk profile. Every penny counts. Obvs.

It would be good to see how the FD development and our Share of it goes.

Any JV examples of the past / comparable would be beneficial for discussion.

DGF. You are aware that Anavio basically run the Company now ? Inside job. Personally I do not see any / if all up front cash re JV.

If there is up front cash / this will reduce the Net Oil to Copl / esp on anything initially produced ie m First 20.000 barrels. At same time increase our % requirement to fund development.

If there is no up front cash / this will increase our pull on any Oil produced and potentially reduce our requirement to fund development.

I’d prefer no up front cash / Hence BFU fully funded. JV then could be a free hit.

Simples.

Appreciate that AIM. Cheers. Much better for it.

At the moment Cowan is saying “Fully funded”. So yes there will be margins below the line of 2000 to potentially be better than B/E. But Oil is a cyclical business and sometimes maintenance Costs can be delayed to boost the Annual Profit and Loss. So as it stands I think it’s fair to say 2000 a good rule of thumb to B/E or dare I say my original offer of 1750 !!!

Lest not forget 2 Directors working for nowt and any new drilling brigs Risk and thus Cost.

Any Producton Rise RNS to 1500 1750 etc and SP will rise quickly to the 2.6p Cap.

Once again Agree with Pilot.

Agree with Pilot. JV probably waiting to see if we were going bust before committing. It’s probably worth $20/$40m re unforeseen costs if the worst happened. Just think of Legal Costs alone.. On the flip / it’s good sign if true re holding off because it reflects the size of the Asset - The Risk.

The Biggest Win for me here is that everyone ultimately should be confident now that Anavio are Officially Shareholders / Coupled with the fact that the Market has now been informed 2000bopd means Parity.

So they’ve got Costs under control and made a commitment on what 2000bopd actually delivers. This is all I wanted !!! 2p unbelievable Value - Won’t last long.

We should now switch to the knowledgeable Posters on here re Well History and de risk the 1000bopd shortfall ie : What the Wells did individually previous peaks and what can be achieved beyond that when they had to turn the taps off.

5-9p always my Realistic Expectation. Only a multi year large scale JV can exceed that. Despite the measly $4m I still don’t think we can complete 1 Drill / until BFU starts to deliver over 2500bopd. Do able in 6 month.

It’s always a game re who controls the Asset. LTH have to be great full Copl still in the game. Now supported by Significant SH in the Financier. They’ve funded this with the bare minimum cash for maximum Return potential. They could have funded this to tune of $20m say at 16p and start to Drill our own pay / but why do that when you 1 / Do not want to run an Oil Company and 2 / Can control what your Asset does for least amount of cash at 2.6p (Fair imo meeting half way) and again max return within that Risk profile.

Yes some games clearly a foot with the Timelapse of Financing but they could have said No.

Relieved to see RNS even though bar re set at 2.6p ? All for $4m measly dollars. Not a good fit / The Financiers running the Business so I maintain they only here for the Short Term (Ideally for them).

However / They are very clever.

GONE is the Artful Dodger that was rinsing everyone.

In is Reality and FINALLY we have some Guidance and info. 2000bopd is B/E. FINALLY something Tangible. I said 1750 rising to a peak of 2750 so I wasn’t far off. A soft expectation (Never Ramping) but was always realistic imo.

Anavio now have 2 Directions they can go. Self fund slow grow or agree to JV on Terms scaleable. Both Directions lead to a Dividend given 2000bopd B/E and as they get closer to achieving this / so does an outright Sale of CCU. Because remember / Anavio do not want to be a Shareholder. But they’ve had to take control to stop the Bullxxxx.

I’ve mentioned on here before re i3. It’s not the BOD running the show. It’s the Financiers. They are in now and have everything aligned to deliver Value back to themselves.

We should discuss Copl America at some point on here and exactly what the Risk is should JV not deliver.

LTH Must average down imo if over 10p. At worst you want an Average now no more than 5p as why wouldn’t Anavio take a 4 Bag on 2.6p ??

“announces that it has entered into an amendment to its Senior Credit Facility providing a waiver of its covenant tests as of September 30, 2023. Â The waiver is conditional on closing of the Company's financing which has been extended by agreement with Anavio Capital Partners LLP to October 6, 2023. The Company is on track to close the financing prior to 6th October 2023”.

They pushed it right to the edge. Fingers crossed / we need some good news. Pivotal.

Absolutely RNS tmoro. No danger. Brilliant heart felt Post from Stas. I share the doubt. One thing I’ve reconciled with myself is that Anavio Do Not want to run an Oil Company. Absolutely not. They are here Short Term until end of Q1. They not interested in supporting SP re any Short Term injection of confidence via communication. They are here for the end game only. We shall learn a lot FRI.