Member Info for G_G_G

No idea JustBe. I don't think it's that relevant when you've had circa 70m free warrants and hundreds of millions more shares printed at 5p. What's important is mgt deliver some hard numbers, be it a f/o on good terms, or production numbers that show fcf with WTI @ $45. The former will give us a spike, and potentially a higher base if the terms are good (I'm thinking 7-8p). The latter will most certainly re-rate the stock if we have fcf @ $45. Our new sp will be anyone's guess as it will depend on how much fcf we're generating. We just need to hope for a decent tailwind for WTI going into first financials being released for Gain that shows fcf in current environment. If you throw in a decent f/o for good measure then we're really cooking. As I've said before if these guys deliver on their promises the re-rate will be swift and strong.

Although I agree Graham likely put in more than £1m, I don't believe we know how much he has actually invested in the company. I also doubt it was anywhere near £7m. His holding may have been worth £7m at some point, but that's not the same as how much he actually invested prior to listing. What I will say is Graham, alongside some of his II buddies, haven't paid for mgt's past failures. Rather, PIs have paid.

When looking to make back their investment Mgt have ensured that IIs received plenty of free shares, and the ability to average down on their initial investment. And they awarded themselves plenty of free shares. Note: that Majid has still put f'all of his money into the company he runs.

I hold here with my eyes open to what has happened in the past. It cost me £70k when I sold my initial investment during the pandemic. This could have been much worse had I not jumped on one of the spikes to 7-8p before the next round of dilution took place (albeit for good reason purchasing the Canadian assets). People ask why the sp is so low? It's because even PIs with large holdings like me, don't trust these guys. If they start delivering on some of their massive promises then trust will be earned and we'll see the re-rate. I'm banking on them delivering this time as we now have hard assets and a stronger negotiating position for Serenity. I'm banking on them wanting to redeem themselves in the eyes of the market. I'm banking on their love of making money for themselves, and taking us PIs along for the ride. But make no mistake it's them first. IIs second because they need them. And us last. AIMHO. GLA

Guys please remember a dividend requires fcf first. And please remember mgt's track record on delivering on promises they've made. This share will remain deflated in value until they deliver something meaningful in the way of a f/o or good financials. This is fair given their failures to 'walk the walk' in the past. As far as I know they haven't mentioned anything about Gain financials and what the POO needs to be in order to start throwing off cash. I'd love to see this information if they have released it. Until then we need to wait and hope they haven't talked **** again. GLA

Hi Optimist, I've provided some answers below. Obviously my opinion but I'm also a large PI shareholder here. I've been burned here, but now hold a very large amount of shares so consider myself optimistic, but realistic about past happenings.

- Large Director skin in the game - Yes and No. They received most of their shares with f'all money being invested. So although they benefit from getting things right, they also don't lose much from f'ing things up.
- A producer with excellent assets and 10,000 boepd - Producer yes. Excellent assets, well that's yet to be seen. If they're as good as mgt say they are then we'll re-rate. But that depends on strong financials that we're yet to see for Gain, which makes up 90% of production.
- Huge and potentially massively valuable assets - Potential is the operative word for all assets. Until proven we need to rely on mgt. These guys are notoriously unreliable in their claims. Looking back on promises that haven't been delivered it's not hard to see why our sp isn't much higher. Trust is the issue here.
- All assets in politically stable countries (Canada and UK) - Correct. This is a real +ve except we sell in Canada at a discount to WTI, which isn't as good as selling at Brent prices.
- North Sea assets have been de-risked to an extent by oil finds - No. If you look back at what mgt said about Liberator they got it quite wrong in their assessment of the assets, and then missed their drill targets twice. Serenity appears to be a good asset but it does require at least two more drills to support mgt assertions. See above point on what mgt have said and what has turned out to be reality.
- Canada assets are already producing. Yes. This is very good, but only if POO stays above $45.
- All assets are either at the beginning of life or able to be optimised - Most are long life or large exploration potential so yes a strong +ve here.
- Dividend's promised - Again a promise from mgt they're yet to deliver.
- US$94mm tax losses to utilise - Very strong +ve, but again only if you're making a profit.
- Broker notes at 10.7p and 17.7p current share price 5p !!! - Brokers can take their notes and shove them up their @ass. They're a bunch of investment charlatans.

So why am I invested here? Because the upside is 100-200% if mgt can deliver a f/o on decent terms and even a modest profit from their producing assets at $45 WTI. With POO moving to $50 and the drilling of Serenity then I can see us in the mid to high teens. Serenity hitting 100m+ recoverable and we'll be 20p+. This would be less than 6 months from now if they can sort the f/o this month (as promised).

As for adding Canadian assets, I don't want to see this happen anytime soon. It would mean more dilution, and these f@ckers have certainly diluted their PIs enough in recent times. They have more than enough production and upside in current assets and North Sea. Higher sp means easier to raise cash in future so they should focus on sp accretive

Clearly a joke Jezzoo. At least I hope so otherwise this board has hit a new low for ramping.

Ah I just saw the 2 x £85k sells pop up. Well that would put a brake on things. I imagine these would have been worked over the past couple of days and held back the sp. Hopefully we can edge forward now. GLA

Funny world when an rns showing an even greater stake being taken by a director appears and the sp does f'all. It would appear the only thing that will make this sp properly re-rate is a major de-risking milestone being announced. SF only has 1.5m shares to go before he gets to his 65m milestone. So his buying pressure will end soon. Incredibly happy we have in on-board. If one of my other stocks has its over-due re-rate then I'll help us along a little as well, providing we're still at 5p. GLA

Funny you should say that ff as I'm sure I recently saw something alluding to Brent being our benchmark. It makes more sense for our oil to be sold at WTI discount. Would you mind pointing me toward your -3% WTI source? It's actually a very good discount for Canadian oil. I'm hoping mgt will look to hedge a decent % of our oil if they can get $50 per barrel. I don't believe we'll get much better than this over the next 12 months as it's very easy for OPEC & Shale to turn the tap and fill any increased demand.

E/B, we're cheap only if we're throwing off cash at $45 Brent. Mgt need to provide an operational update with some financials for us to ascertain just how under-valued we happen to be (if at all). These numbers are most important as they'll provide a higher floor under our sp. Not that a good f/o wouldn't help as well. Too much to ask...?

Hi older, I have a sneaking suspicion that LO and co were amongst those selling furiously during the last inside trading fiasco. So not sure how much they lost compared to the rest of us. They now have lots of low average price shares and free warrants (alongside mgt). So what's not to like for them now? IIs have been well looked after by mgt. The same cannot be said for PIs.

If mgt deliver on their recent promises everyone wins. It's just that PIs are the first to lose with these f@ckers. From this sp I see it as quite low risk and quite high reward (100-200% in 12 months with poo accommodating at $45-50). This is why I've come back very heavily here. But if Graham and Majid have deceived us all again I'll be hard pressed not to turn up at the next AGM and do gbh to the both of them (joking, kind of).

Agree JAdam. On those pieces of concrete news we'll get our 10p.

Takes a lot to move the sp. We need some solid news now. All the missed timelines over many years have taken a toll on investors. The biggest piece of news is of course the tariff agreement. It makes the financials 'real' and clearly signals Moz is intent on building the plant. Reckon we'll get a nice rise with the other 'expected' news next month as well. But it will take a tariff being agreed for us to breach the magical 10p barrier again. That's still 100% from here, and I have no doubt any more it will happen. When is the question...? We are after all still dealing with an African government. HTH. GLA

'I think this is a minimum ADDITIONAL 5p to any already increased sp we will attract from the original f/o news'.

The above is what was meant in my post. So the sp would be 15-20p (assuming min $10m fcf from producing wells at poo $45-50). Given our current value (and currently known recoverable reserves) this sp to me makes sense. I simply cannot see a Serenity scenario where we'd get an incremental 20p on our sp (so 30-35p) unless they find 250m recoverable barrels (and we're retaining 25-30%). This scenario is highly unlikely, although clearly not impossible. My optimism only stretches so far in this company, which is still pretty far.

I've got one thing not to like - Mgt. Having said this, once they prove they can be trusted we'll see a swift re-valuation of our assets and sp. The only way they can build trust is giving us something concrete. The promised f/o, or some production numbers with b/e values will suffice (providing the news is +ve). If however they deliver poor numbers on these matters the sp will be punished, but thankfully we're so undervalued I see any downside being limited to low 4's. The upside with a f/o, decent production and financial numbers (leading to even a modest dividend payment) will of course see a re-rate into double digits and a 2-3 bag. Any further acquisitions should be done after these things if they want them to be value accretive. This would be icing on the cake so to speak. Even more icing would be Serenity exploration success post f/o in H1. If there's anything near 100m recoverable barrels and we're still holding 25-30% then you can add a minimum of 5p to the sp. So huge upside here if mgt can deliver on their promises.

Agree nomadic. Equally though, if Gain is bad then why did they buy it? There's been plenty of allusions to fcf at $45+ poo, but I don't understand why they haven't just come out and said poo @ X = £Y fcf etc. They need to focus on the things that matter to PIs. They have 10k boepd, which is absolutely huge for a company with this Mcap. If they can confirm good b/e levels the sp will fly and provide them with far greater opportunity to fund additional t/o opportunities through modest capital raise + debt. The primary focus should be making the current assets work as efficiently as possible and communicating the results to the market. Second step is a f/o. Third step is expansion, but only after the first two steps have been completed. GLA

POO approaching $50. i3e approaching 4.5p. WTF! It starts to make you question whether there's something we don't know about? I trust Graham and Majid about as far as I can throw them. But surely they wouldn't have promised fcf (@ relatively low poo) resulting in dividend payments from Q1, a f/o, and low-cost organic growth in the near-term, if they couldn't deliver...? These guys have been woeful with regard to backing up their claims, and what they've delivered for PIs, but surely they wouldn't do this again...? Another problem (other than trust) is they've used Mirabaud to push some of the numbers people here quote. House brokers are simply crooked. No doubt Mirabaud got sign-off from Graham and Majid on the details, but mgt can easily distance themselves from a broker report. Either this is going to take-off on the first bit of concrete +ve news, or we've all been hood winked. It's time for mgt to stand up and prove they're not greasy charlatans.

Sorry warrants are probably circa £1.5m in funds @ circa 7p when one includes the warrants attached to the 3p placing, these recent ones, and SF warrants. Most have triggers of 7.5p.

It's indeed looking good Chris. The impact of SF is notable. Very impressive they can get a raise of that order away at 4.5p. In my books that's a solid premium as we've only been hovering at 5p for a week or two. Hanno having a decent amount of skin in the game is v.good to see as well, even if it's 'bonus payments'. Reckon we'll be at the 7-8p mark once another good piece of news drops. We're effectively de-risked from a funding perspective until FC. One must keep in mind the warrants amount to another £1m at what I'd estimate as an average of 7p. So not much more dilution but plenty of cash to deal with any spanners that get thrown our way. Feeling quite confident in my investment here.

When did the board say estimated f/o in Q1? I was under the impression they wanted to drill in Q1. Either way the sp is woeful versus the rest of the industry. Goes to show what happens when the market has little faith in mgt. Time for Majid and Graham to deliver some concrete results, and not just financial trickery.

Very odd indeed. The 125k at 4.81p is mine. It was a buy. Listed as a sell. I also tried a dummy sell at the time and got 4.75p. I think anything at 4.8p and above was a buy today. Weird goings on. Perhaps there's an iceberg order...? Or the warrants are being sold and not announced to the market...? Issue when you have so many shares and so many dodgy f@cks involved with it - You never really know what's happening. Now where's that bloody f/o...?