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Yes. That’s why they should have hedged with someone who does know what they’re doing. They played into the hands of the Market and it’s cost them a third of their Investment !! Poor.

How could they make this error TGambler !!! No explanation in RNS why they cashed in before Expiry date.

Time will tell.

It’s like me / I want an Extension on my Property. Cost is £20k. You have an Investment that can deliver you £20k. Do you wait a week / a month in the hope you reap £25k ? So as soon as opportunity comes to cover what you need you cash in and keep your eyes on the ultimate goal.

I’m trying to put a Positive spin on this but hopefully we are fully funded now to the next crucial milestone and hopefully production.

However / we could have just kept the original money we paid for the PUT in the first place !!! Arhhhhh !!! Move on.

Disagree with respect NoShorts. They’ve just cost themselves a million by making a decision at the worst possible time. Absolutely bizarre in my book. When £3m involved they could have farmed out 2.5% and hedged with a Financial Expert who would have shouldered that Risk. However it’s done now. Hopefully you are right that it’s a sign things moving at pace.

Agreed TGambler. They’ve basically wiped out their potential million gain and now carry Risk if SP falls further !! I’m very disappointed. They couldn’t have got it more wrong !!! Bwdik ?

Vela are yet to exercise theirs. They have a longer Conversion Date. Seems amateur on our part that we didn’t wait and thus only accumulate 395.500 Shares !!! I will only forgive them for this poor decision if it is that we are under the Powers that be and ultimately our Product guided by them. Ie : Doors open and the path laid out in front of Ciz.

I’m really disappointed re them not waiting re the VWAP / Surely they must have known ? However / Maybe they had no option as we are not party to the agreement. Interesting to see how Vela deal with it ?

One would expect Conduit SP to go up this Winter ?

He may be a puppet Ms LL, but he ain’t gonna blow the dollar like Art did is he ? Tight fiscal control. My opinion is Art was a bit free flowing with the Company dollar $$$..

WTI just broke through $92.

But if we cash the whole Shares into the Market at once / we ain’t going to get Full Market price. And I’d suspect we need to talk with Vela for same reason ? I’m basically saying we unlikely to get Full Market price due to Volume.

Yes Joe Agreed / but if we hold onto the Shares, that then carries Risk v developing our own product. I’d suggest there be little Value holding on to the Shares. Bwdik ?

So either way by 25 Oct we get the £3.5m ? guarantee. So I guess it’s a game now regard trying to achieve the maximum value ie : Greater than the guarantee / during next 23 Trading days or so.. I guess we could hedge via a financial institution and they take their cut ? It will play out either way. Financial Security for CiZ next 12 month.

Baserite. Poet.

Joe / Does our guarantee minimum value conversion end in OCT ?

Fear not Bibo, you’ll get your money back if we hit 4000.

Dave. I get you now. Operation YewTree. Well I hope you are on their radar.

Thank you SASteps. I assume he means High Net Worth Individuals ? Well that’s good for them if they are.

HNW ?

Don’t deny the Moniker ?

I have no idea what you are on about.

If you don’t like me that’s fine. Filter me. Report me. Nothing wrong with what I say. All conversation is recorded in my History. Now I’ll thank you to stop abusing me. However if you wish to carry on with personal attacks then that’s your decision if you so choose.

BizTech states anything under 3p is a Buy and I agree with him. So I don’t see how that’s Negative on my part. BizTech first attempt I found poor but now by Video 4 he seems to be getting a grasp and I though communicated very clearly / although omitted the influence of the Bond reset which imo was major confidence from Anavio.

All my Post History free for all to see. Thank you.

No ridicule. 4000bopd if achieved would be terrific for the Company.

Let’s look forward to 4000bopd JAN Mr Tibs.