Member Info for G_G_G

Perhaps already answered, but can anyone explain the hundreds of low value A trades?

Maybe Justbe regarding a correction, but in the short term I don't think it would impact O&G in the same way as it will other industries. Supply crunch and commodity prices are seeing to that. We'll have to correction at some point in the near future, but so long as it doesn't occur before we drill the Nth Sea I'm fine to ride everything / anything out. Besides, how much lower could we realistically go given our full production is now hitting the bottom line? 10p? Maybe 9p? I can't see it going any further as a sp at 9p is quite ridiculous given the cash we're throwing off. One also needs to remember that any commodity crash will result in better acquisition opportunities. Tony's point on expected divi is also a good reminder that in April we're likely to be getting 0.4p divi payment. Forward 12 months divi payment is circa 8%, which is nuts given the value appreciation potential here.

Probably answered already, but what's with the tons of low value A trades?

I think the issue Cenkman is we have IIs using a trading pot where they lean one way and the sp jumps by 15%, and then they lean the other way and pullback their shares and then some. Issue with giving the f@ckers so many shares. But that's spilt milk and time for even me to move on. Bottom line is we need significant news to break us out of this pattern and keep us above 15p. The Nth Sea farm-out and / or another decent acquisition (65% debt funded) will give us the volume to step-up +20-30% and stay there. I don't see more work-overs / drilling results pushing us above 15p and keeping us there. Good thing is the Nth Sea f/o, Canadian drilling program and more incremental production are due pre Xmas. That's just 8 weeks. I'm quite literally b@lls deep now. The last interview where they spoke of no more equity only raises and utilizing debt was the turning point for me to go heavily into this. I figure if most of Graham's net worth is tied up here then I may as well do the same. Majid needs to get his act together on this front. To be paid such a salary and invest a tiny proportion of what I have in the company he runs is incredibly disappointing. Looking forward to them delivering on their recent words. GLA

FYI, every 50, 75 and 100k from 8am onwards above 12.6p is a buy. And I just picked up my last 150k @ 12.75p just now. It's why I'm saying there must be a big sell order being worked. Really looking forward to the next 6 weeks. At the very least we'll get a drilling plan. Hopefully some more drill / work-over results. And if we get a f/o on either Nth Sea or Sth Simonette then it's going to get very interesting very quickly. Locked for 4.5m shares now and not nervous in the slightest. GLA

Well there must be a seller in the b/g as I've picked up over 600k this morning in 50, 75, 100, 150k blocks in the 12.65-12.76 range. I just picked up another 150k now at 12.7622. I sold some a few weeks back then banked a nice 25% on RMM so have the money spare again. I was v.impressed by the recent interview. Key things for me:

1. They don't intend to go down the equity only route again, ever. This is a huge statement. If they pull of another deal like the recent one but use 65% debt (Graham's words) then watch this fly.
2. Canadian drill program to be announced in the coming weeks.
3. Nth Sea f/o expected to finalize before Xmas. I also liked how they mentioned they'd be willing to go it alone if necessary.
4. Sth Simonette sounded as though they could be looking for a farm-in partner. I think this is a great idea for an area that will give up oil as a certainty, but expensive to drill. I'd rather they spend an extra $25m to prove up 50-100m Brent in the Nth Sea.

All in all I feel confident in the above news sending us to mid to high teens by year-end. New year I expect the climb to start to 20p as news of drilling the Nth Sea starts to sink-in for the market. AIMHO GLA

27.70p on google. Looks like 28p will go today.

Yep timed that last 100k of buying pretty well. Issue is I have another £22k sitting in cash for 100k more - I thought we may still be waiting next week and Riverfort would provide me with one last opportunity for sub 21p. Was a bit too greedy on that one.

Fwiw I think we'll be out of the gates very quickly Monday morning - I'd be surprised if we're less than 25p (+15%) on open and can see us pushing 28p (+30%). Remember we hit 25p just on the promise of financing only to be pegged back by Riverfort. There's a lot of people with this on their watchlist that will have the weekend to get clued up on the 2 month picture, which is an easy 50% from current sp. Not to mention the lth's who are under-water having one last chance to reduce their average, especially those with averages above 30p. Imo with confirmation of 4 stopes opened, hedge cleared, and being cash flow +ve by year-end, I can see us being in the mid to high 30's. And all of this is now pretty much guaranteed to happen pre-Xmas. If they continually deliver or exceed 1350 tonnes in H1 then a re-visit of 60p is a dead certainty. The only hand-brake between current sp and 30p in the next few weeks is Riverfort converting and throwing all $1m into the rise. Having said this it will only slow the climb over the next week or so, and most certainly not stop it. Anyway let's see how things pan out next week. If I get another chance below 24p then I'll go for another 100k. GLA

Moon spelling is one thing, but being dyslexic doesn't give you a free ride on having conflicting and quite frankly id!otic arguments.

Quite a holding Know. Do you mind me asking your average?

Thanks Tony and Cenkman. Looks like a decent comparison, albeit there's a decent (not huge) variance in production / revenue profile in Pipestone favor. I would however say they have significantly larger debt in comparison to ours. And there's a much larger still difference in MCap. They're valued almost 150% higher than us. Shows the difference in sentiment toward our company. And debt level clearly isn't a penalty. I'll watch the interview tonight.

Nope I haven't received my divi yet. I'm with Barclays and was paid first last time so not sure about timings on such things. Divi re-investments look to be giving a bit of a boost to the share price as well. Nice to see and helps to rinse the +350m shares recently added. GLA

Agreed Strummer. The small buys / sells moving the share price shows how investors have positioned themselves and are now sitting back and waiting. Another conversion with Riverfort dropping $200k into the market and I suspect we'll head back down to 20p, but not beyond. Downside is limited to this, and a shocking H1 report that includes a few things we didn't know. Then we're back to 18p. But again, I think we know the bad news, so in theory it's just about the good news and forward guidance. Funding completion and I can see high 20's in a heartbeat. Add another stope in the next couple of weeks alongside some positive guidance on production, grade, hedge, plus further stopes in December, and we're into the 30's. All in the next 4-6 weeks. I have spare cash for another conversion and drop to 20p should it happen. That will be it for me then - 500k at 20/21p average. GLA

It does look like a good comparison given there's a touch over 10% variance in production, and where our oil production is heading. Cenkman, do you know their net debt / cash position?

Another 35k should be flashing up on screens now as well.

I'd say there's a better chance of another conversion later today. Sadly. But finance cannot be far off. I'm thinking days, rather than weeks. That was me picking up the 50k this morning.

Hi guys, sorry I couldn't make the call yesterday. Is there a link? Failing that, one of the things mentioned in the threads from yesterday evening is they explicitly said any more acquisitions will be funded by a mixture of cash and debt. Is that correct? If so that's very good news as it was my main lingering fear - they would keep diluting our ownership as they chase more production, and sp appreciation will be the same as we have now (very slow), rather than seeing an immediate step-up and subsequent climb. Is this correct?

The other thing I'd like to confirm is whether they said they'd go it alone if our Nth Sea partners keep dragging their feet. Again a very important statement to make and one I'm very supportive of doing. If poo and gas are still sitting above $70 in 12 months this asset is going to be worth a fortune with anything above 50m recoverable barrels and 100% ownership. But we can't be waiting for another 12-18 months for them to get the signatures from these partners and drilling underway. Remember it was 'imminent' almost 9 months ago and now we have to wait until year end jus for the agreement. It's very little money in the greater scheme of things to Repsol Sinopec (assuming they are the farminees). But if they're going to be this f@cking useless now, imagine what they'll be like if we're trying to quickly appraise any further discoveries or heaven forbid monetize the field. Mgt need to give them an ultimatum, and if they don't pull their heads in, then move forward without them. The pricing and regulatory environments could change quite rapidly so they need to get this underway. And the impact of +50m recoverable barrels from a 3 drill program would be substantial. Perhaps we could fund from the mix of cash and debt they have spoken of for acquisitions. GLA

Sorry moon I can't remember if you're positive or negative on this share, which way are you leaning today? Notte finacicalallal advyzee

Agree ant.

Moon, do you ever make any sense? I can't think anyone in their right mind would ever take your advice so feel free to lose the sign off. And it's 'advice' if you're going to continue with it.

If we don't get finance news tomorrow I can see us dropping into the 20's on low volume, just like the past few days. To be honest I'm kind of hoping there's another conversion notice as I have money ready to buy and would love one last chance to pick up some more in the 19's. Can't be long now. GLA

All good points Tony regarding the industry. I also agree that O&G is the best place to be for the next 12-24 months. Safe and easy money.

However, why talk of i3e performance over the past 12 months? Why not the past 3 years? Or 5 years? Not everyone got free warrants like Graham. So for many, you included, the total return on their investment isn't that great. And it doesn't take much digging to find O&G companies that have tripled or more over the past 12 months. We haven't because of the confetti shares and warrants they issued. They need to do a few things now in the interest of the sp (their PI base), rather than themselves (and IIs). What many on here have pointed out would be a good place to start. They get paid outrageous salaries for the size of the company, and bonuses are triggered for not really doing much. They should invest some of that money back into the company they run, rather than continuing to give themselves hand-outs. They need to put our fcf to work, either by ploughing it into production (we've heard very little on this), share buy-backs, or even announce a 30-40% dividend payment for H2. All of these things will give the sp a kick.

They know the mega raise has f@cked the sp. They should be doing more to fix this, rather than talking about value disconnects. But above all, they need to show investors like you and me they actually want to drive the sp rather than taking great salaries and lots of cheap shares for themselves. The other benefit of a higher Mcap is of course the ability to access debt for growth, or a higher amount of money (for shares issued) if they do part debt : raise for another acquisition. The market looks at companies like Kistos and how their bod's interests are aligned with all investors, and just don't see it with our bod. They have made mistakes, but to date the only group that have really paid for them are PIs. Time for them to give a bit back and stop being so greedy for themselves and their banker mates.

Tony, seriously? I have no idea why anyone would bother, or for that matter give a ****, about people posting under aliases. But I also have no idea why you're engaging is such silliness. We often disagree but I do value your opinion and research, especially because I don't have time to do it myself. Rest assured I have never posted under an alias, and never will. And you're better than this.