Member Info for G_G_G

SP starting to do an upward run. Will we break 13p with the development plans for this year...? Great to think we're about to get some more good news in the next couple of weeks. Q1 results should be solid as well. Nice. end to the week. GLA

You have a good memory Stas. I think Tony was the one arguing the most about the sp not going below the raise price back then. I waited and bought a lot in the 4's. Should have bought more. Also bought more after the second great dilution event in the 9's and 10's. Also argued with certain posters the sp would be depressed for up to a year and would go below the placing price.

Agree that we're well set up for growth at the moment. I'm not in the same place as some on here about buying distressed gas assets. Although I think there will be a lot floating around, I don't believe gas prices will recover for some time. The world is awash with it, and a lot of countries are using less as part of their energy mix.

I am however confident that oil will average above $70 for the next year or two. OPEC is seeing to this, and so long as Ukraine keeps fighting Russia they will continue to target energy infrastructure. And then there's Iran and sanctions. Plus the US is starting to deplete its reserves. So I'd start a decent oil drilling campaign but keep some cash in reserve. Maybe invest USD$50m over the next 12 months. Some will be paid for out of cash we're generating, and the remainder should be topped up from debt. A poster commented on companies with dominant liquids ratios being valued higher so this should yield value and support income. As I've stated previously we'll also prove up more acreage / reserves, which will make us more valuable to investors and would be predators.

If I'm wrong and gas prices improve to average CAD$3 or more then a dividend hike would also be good to see. I agree the Nth Sea is a waste of time and money now. It's also very risky from an execution standpoint, let alone adding h@lfwit government risk. They should write it off if needs be. Ideally they will get a bit of cash though. Only reason I'd progress is if we get a bigger player on-board who run the show e.g. Serica.

Either way all looking good right now. PTAL back on sale currently so grabbed another 25k over there this morning. If my 750k shares in DELT pay off in the coming months then I'll be buying significantly more here and in PTAL (providing prices are near these levels). Not long until things kick off over there so will find out soon enough. GLA

Agree on your last Nomadic. I'm hoping they'll head down this route. Benefit of going after oil is we can prove up more reserves, which in turn pushes our value and makes us more attractive as a t/o target. Would be very happy if they plough a good $50m into oil focused wells over the next 12 months. We're still making cash and have our loan facility to draw down from. And they can steadily add more wells to avoid too much risk should poo take a turn in H2, or they can pivot back to gas if they see prices increasing.

Would like to see some PR around this deal. The deal won't move the dial on the sp if no-one knows about it. They've now had a couple of opportunities to do interviews and push for more coverage. Hopefully on the back of the development plan they'll get out there and beat the drum. Still great value to be had here. If gas prices improve to CAD$3 in H2 like some are saying, then we should be at 15p quite easily.

I'm up to 4.75m shares now with an average of 10.1p. Funny thing is I had this level when I started to sell down a little while ago. If this stays around these levels over the coming months I'll be adding more. My DELT speccy is the big upside (or not) play I'm making this year. Probably in too deep but the reward profile is very attractive. If it comes in I'll add a lot more here and in PTAL. These are my safe 10-25% capital gain and 10% income payers over the next 12 months. Even if we get the lower end of value uplift it's still a solid 20-25% overall gains. What's not to like. GLA

Reckon the next week or so may be the last opportunity to top-up in the 30's. Selene is mobilised in less than 12 weeks. F/o news will drop in between, and I'd hazard a guess earlier rather than later. Feel free to sell folk. I'll happily pick up some more in the mid 30's if we get to that point. Not long now. GLA

Unless they have a deal lined up already I'd like to see them utilise this cash and debt to start drilling some oil wells that are safe earners, and provide reserves upside. Both will add to our value and provide us with on-going high margin income. Divi is safe. Hopefully improved gas prices / outlook at year end will provide some scope to increase payments in 2025. Certainly good value at this level and has another 15-20% (15p) this year if they play their cards right. Will be interesting to see their development plans in the coming days. GLA

Surely we're now net cash +ve as well...? I thought we had circa USD$20m in debt? Either way there's close to USD$60m to pump into development opportunities. That's going to generate a hell of a lot more than 380bopd. Plus they'll be able to prove up more acreage. One would hope they can squeeze 2-3kbopd of liquids from $60m. Add improving gas and oil prices over the next 12 months and this could get back to 20p quite easily.

These guys are pretty bl@@dy good at making deals. Shame about their abilities on the PR front but perhaps this will give them a reason to get out there and start beating the drum. On similar metrics this must put the company on a value of more than double the current mcap. Just picked up 150k around 11.9. Very impressive.

Lemmings jumping also not keeping in mind that we got an extra £500k from the Selene f/o this year, and have ZERO costs on Selene from January 01st up until success case. If we do a f/o on Penascola it will be similar i.e. costs reimbursed plus free carry until agreed milestone.

I haven't done the numbers but would expect +£6m to cover our general mgt and admin costs for quite sometime. Essentially DELT will end up with cash of +20% current mcap with zero costs until we get results from both wells. One well is rated at 70% CoS by Shell (not us). And the other is an appraisal that Shell wouldn't be progressing if it didn't see value. Both have opportunity to open a wider area.

Success case on both, which is quite likely, and we'll be pushing 100p with cash in the bank and no costs. If Selene is a monster then we can maintain 25% ownership and raise $10m for an appraisal with about 10% dilution. Not hard to work out what happens if the f/o is on good terms.

Same idgits jumping for 10% will be buying back in a couple of weeks for 20% more. This is why I don't feel sorry for Aim lemmings.

Will gladly pick up some more if we go below 36p. GLA

Just profit taking. This always happens when people are waiting on news and they get something else. We may pull back to the high 30's and then continue upwards as everyone starts to think the news must be around the corner. Few things for people to consider:

1. Operations are set to commence on Selene in July. Penascola is committed as part of the H2 plan. And they need to get formal sign off on the f/o by regulatory bodies. So news is guaranteed in the next 12 weeks imo.

2. If they do a f/o they won't be requiring cash for a very long time. The operational costs here are very low as they're an incredibly tiny outfit. Selene is carried all the way to the success case so with a strike they still won't need to fork out on the appraisal.

The most important thing is they retain a large stake on Penascola. I wouldn't want them to part with more than 7.5% as Selene is already carried for some time, so they don't need any money on that front. If they do give up 10% (or more) they would want to receive more than just a free carry on the appraisal. If terms are rubbish they should simply do a raise. The market would be a little p!ssed off at first but they can def. get one away in the high 30's / low 40's and would need about £10m to cover everything, so 25-30% dilution. Hopefully they can get decent f/o terms with Shell or Dana. Getting in another partner would be foolish and make things harder on everyone.

I'll gladly be adding on the way down to 45p but doubt I'll get so lucky. Reckon we'll be range bound between 48-50p until we get news. Dividend should be a good one this quarter (and next). Reckon we'll pick up 6-7% just on these payments alone. SP should be looking to break ATHs based on past v current performance. With poo staying above $80 for the remainder of the year, and no local crazies, I see this as an easy 25-50% gain by year end. When you consider 10% of that is dividends +25% should be a cake walk. GLA

Great news on windfall taxes, although sp is dropping like a stone... Some good news wouldn't go astray.

the 250k at 11.75p is mine and not a sell btw. must be someone offloading a decent chunk below that for me to get that price. no more for me unless we drop back to the 10's (and this wft bull**** goes away). gla

Anyone still invested here needs to give their heads a wobble. How in god's name are goimgtng to pay for 'ramp-up' when they're not producing anything. The AISC for Kour would probably be £3k right now. And then you have the legal dispute. And then you have Yan in Mali - any of you seen what's happening with Barrick? The best result here is they do yet another highly dilutory raise to keep the lights on. Reckon they'll need to add at least 50% more shares in the 5-6p range just to keep their heads above water over the next few months. That of course does nothing for the massive debt, or political risk in Mali.

I came over and tried to convince some of you to invest in SHG when it was 9p. Got into debates with the usual h@lfwits like Bushy who has done nothing but lose money here over the years. Any of you who followed me would have made an easy 50%. Those of you who stayed, well this is as good as it gets. For all of your dreamers, go and check out DELT if you want a brilliant speccy. You'll make 50-200% there in the next 6 months.

You're gonna get skinned here very soon. And trust me, a raise is the best possible near-term outcome. Absolutely nailed on.

Reckon 60p all time highs must be the next stop. Obviously there was a huge jump in poo due to Ukraine back then, but the company now has circa USD$100m in cash, is paying a double digit dividend, breaking new production highs, has transportation sorted, and appears to have the locals onside. Overall PTAL is in a much better place so there's no reason why this shouldn't be hitting new ATHs. Providing Brent stays at $90 I can see us there by early May. AIMHO GLA

When is the budget announced? Given gas prices are at record lows I'm not sure how they would could tax O&G companies without crippling some of them. And it's not like Canadian O&G companies are getting global prices, which comes down to government idiocy where they'd rather give the US extra cash on their commodities then fix their infrastructure. And surely they'd look at the lack of investment in O&G in the UK post WFT to see they'll lose out overall due to less investment delivering lower production and tax revenues, plus lay-offs / unemployment in their significant home industry. And finally the world gets to pay more to c@nt regimes in Russia, Middle East, Africa and Sth America. Mind boggling stupidity that I thought only a UK government could conjure up.

Oil up has no bearing on us - we're gas. And geopolitical uncertainty only impact oil producers. DJM, you're clearly here for a quick buck, which is absolutely fine. But you're coming across as a plonker.

As for resistance, there's charting and there's market psychology as well. You've funnily enough picked the Mcap levels of £40m and $50m to breakthrough (psychological barriers). These are the numbers I think we'll settle at in the run up to 1) f/o news, and 2) the first drill turning. We're now bouncing off £40m mcap, which we need to hold above post f/o news. First drill turning in q3 is then guaranteed (£50m mcap). Beyond that will depend on how many lemmings come running this way, and what we find. Two reasonable sized strikes with a lot of lemmings and I think £100m mcap (108p) will be reached with a shirt pitstop at our recent highs in the high 70's (post Selene turning up +ve). That's my take at least. First of all we need a decent f/o to be completed. GLA

for those who don't knwo malcy he's the o&g commentator that kicked the f/o deal up a gear when he said delt is a potential 10x. i pay attention to the shares he has in his bucket list but to be honest he can talk a bit of ****, especially with his forecasts. obviously under-valued here, which is why i invested. but there's no way this will 10x unless they prove up the two biggest gas finds in the nth sea in the past couple of decades and the lemmings go bananas. it is good for a 3-5x imo providing they have two great drill results and the f/o isn't too punitive. reckon 100-120p would be a realistic target range. gla

Oh dear, you again. Ironically amusing that you've spelt 'gullible' incorrectly Vmax. Mind boggles indeed.

fairdealer i'd say it's only **** for pis if the raise price is way below the average sp in the prior 30 day period. otherwise i have no real issues with companies doing things this way. they have to secure the money and unfortunately pis rarely cough up anywhere near what they need. the most important thing is the raise gets the cash required quickly, and is done discreetly i.e. there has been no leak before-hand. judging by the share price level and action before / after the sept 2022 raise i'd say they've done things perfectly.

good thing is it's rare that you don't get an opportunity to buy in the following days at / below the raise price. on this occasion the major shareholders need the sp to double to get their money back, which means they're likelier to be sitting all the way to drill results. this is good for shareholders as it means less volatility up to drill results, and a greater likelihood that any gains will be explosive. so not bad at all imo.

definitely looking like a bagger here. reckon we might have another small pullback to the high 30's next week before pushing up to 45p is my thinking. good news and we're into the 50's. then the fun begins. gla