Member Info for G_G_G

Agreed. Worst thing for me is I sold some of HZM to increase my holding here (so I could go back over there). Talk about **** timing. Note to self, always look at management's track record. HZM is first class, especially how they've developed and progressed their two projects. They make Tony look like an amateur when you compare how our multiple projects have been managed.

Understand you concerns Jackbal as I've asked the exact questions myself. Regarding permits, it's not unusual for a project to be bought into at this stage i.e. without all necessary permits in place. Having said that they would be in a much stronger negotiating position if they had the remaining two permits, like HZM for instance. To this I can only assume they were running out of money and needed the cash. One needs to keep in mind that AE aren't the only potential partner. Whether Tony can conjure anything of value with another partner is yet to be seen though. Bottom line is Tony and team have a great group of assets but they've really f@cked things up along the way in how they've been managing to extract value from the market at the right times. They've had an Mcap over £50m for very long periods and chose not to raise enough at these points, and instead we find ourselves with proved up assets and close to being shovel ready, but with no money and further dilution if Tony cannot get a decent deal over the line. As I've said I'm counting on Tony as a shareholder to tell AE to go f@ck themselves if they're offering a terrible deal. I'd rather he raises another $2m to keep the lights on for another year and try to negotiate with another partner as the permits are slowly awarded. This would result in another 5-10% dilution but would be far better in the long run for investors. Tony if you're reading this please keep in mind the many PIs who have paid a lot of money for the company to get to this position. No-one wants to see you fall at the last hurdle!

Truly the bigger person with that post JAdam. How sad.

No ignorance on your part Jackbal, it's just my opinion. They could go for a free carry but I imagine they'd be giving up more than 65% of the project. If I were Tony I'd aim to hold onto at least 1/3rd of the project and go to the debt market (and equity if necessary) for whatever is remaining from the AE buy-in.

As an example, based on dfs they'll need approx $19m to fund every 10% project ownership retained (note: this includes 15% contingency and doesn't include any cost savings). So for 35% retained ownership they'd be looking at circa $65m total project investment. With debt on 40:60 terms (reasonable) they'd need about $28-30m up-front with the remainder financed in debt (approx $35m). That's how I'm hoping it will play out. Tony needs to get the deal done on these sorts of terms if he's to get the value he wants from this project. I take solace in the fact he's heavily invested himself, so with a significant amount of 'skin in the game' his fortunes are at least aligned with ours. Time will tell I suppose, but a very good entry point around here if Tony can pull off a decent deal.

Perhaps, but not before the 5's duster. Oh wait a minute, where in the 5's now.

As I've said before Jung I highly doubt that statement because you'll always have holders who have over-extended at the placing and will be quite happy to offload for a 10-20% profit. The SP will revisit the 5.5p range for a little while post placing shares hitting the market and then you'll have your climb (based on value and/or +ve oil price movements). They may surprise the market with a f/o, but again the spike will be short lived and there'll be a pull-back as people exit for a 100% short term gain. You seem to forget the bod have promised a lot that hasn't been delivered. And they've overseen some terrible insider trading activity on a number of occasions. Add to that they operate in a bombed out industry courtesy of a pandemic that isn't under control, and could result in more shutdowns this winter and a subsequent oil price drop. And the fact no-one really knows how profitable the acreage is at the current oil price until some trading statements are released. Plus the strong relationship with massive capital raises lowering the sp to close to the the raise price after the new shares hit the market... So I'd temper any enthusiasm regarding double digits etc based on those things. Good entry is anything around 5.5p. Reckon there'll be at least a few weeks to get in at that level, but that's my opinion.

JAdam, looks like the 5's to me.

I'd e very surprised with $10m for anything that is majority ownership of the project. Let's go with 65% project sale as an example. So for 65% we're talking $1.5m per 10% on that basis...? Given the npv is $133m (without project value enhancements), plus $60-70m has already been spent on the project to date...? I think you may be just a bit short in your estimate.

I'm expecting at least $40m for 65%, which would proportionately cover our costs of developing the resource to this point. Also 65% ownership this corresponds to circa $90m at npv level, so they double their investment at npv. As mentioned this doesn't include any value enhancements, nor does it include additional value at a district level. I took from Tony's comments the deal should allow us to finance our part of the project development (excluding debt), plus provide us with corporate expenses. So $40-50m should do it. If Tony gives away majority ownership for $10m he should resign and retire as it would be a monumental f@ck up to do such a thing and I don't think he would be considered seriously again. AIMHO

Yes JAdam I was a holder here and had large losses thanks to the incompetence and deviousness of the bod. I took a £60k loss after averaging down significantly after exiting on a bounce. Anyone can see that from my posting history. Thankfully I've made all that loss back in other companies, but hat's neither here nor there.

As for this stock being in the 6's (just), I've mentioned it will be 5's when the placing shares hit the market. Has that happened yet? What I do know is we're 1% of the 5's and a long way from those double digits pal. Not often I come across someone that knows so little about the usual workings of the stockmarket and what happens after massive placings, the mid-term state of play in the oil industry, and the history of the company they've invested in. I can only surmise that you're either ret@rded or you have some alternative agenda in promoting this stock when everything points to the 5's post placing shares hitting the market in the coming weeks.Speak soon no doubt.

Let's hope so CF. It would be fantastic to say goodbye to the 4's forever (and 5's for that matter).

Tony, I'm sorry I got you mixed up with JAdam, who clearly doesn't know his @ss from his elbow.

JAdam, you've been calling double digits for a while now. Where the extra digit pal? As for giving dates to the statements I've made. Why the hell do I need to do that - It would make me a clueless bull**** artist like you. I said to you the other day, let's see whose right. Once the shares are issued we'll see 5's. I'll be sure to remind you every day the sp stays in that range. Unbelievable how anyone who claims to know anything about the stockmarket believes the SP will increase when a monstrous amount of shares have been printed at below the current sp, in an industry where the commodity price is bombed out due to a global pandemic still affecting the world, for a company that has a chequered past even by AIM standards. I'll see you in the 5's, which will be sometime soon after the shares hit the market. Oh almost forgot IMHO

Those 2 x sells are huge - Over 1% of total shares in issue in two trades. Hopefully someone restructuring their pf and not a sign of any horrible **** to come. SP has held up well considering the size of them. If they were buys we'd be over 5p.

Ethio, I think you already know the answer to that question. It will take a very long time to clear them. And yes they will be sold for 5-10% profit by many so expect the SP to hover at 5.5p for some time. I'm sure Tony will say something different but he was calling double digits and look where the SP sits now. Longer term the SP will hit double digits, but only when the placing shares are cleared and the oil price recovers. When that is, who knows. Even if they do a good f/o before-hand it will struggle to hold above 10p for any period of time because anyone who holds a large amount of shares here will happily take 100% profit. This is all pretty much guaranteed. And for god's sake people stop talking about how many barrels are being produced, imaginary fcf levels, imaginary 2P values in fields that require more proving up etc. No-one really knows how profitable the acreage is in the current oil environment. Or how many recoverable barrels are in Serenity or the structures they happened to miss twice. But what we do know is the company has a ton of shares due to hit the market. They still carry significant debt v mcap. And the bod have a track record of talking complete *******s. See you all again in the 5's.

I repeat, Hanno shouldn't give out bull**** timelines if he has no real idea of when he'll be able to deliver any news.

Really would have liked to be wrong about my previous post. Still think we'll get a boost of FOMO before the weekend. And hopefully Hanno will have something for us on Monday.

If ever there was a time for Hanno to release some news it's now. We have a good base to launch from at circa 5p. I think we'll get a little boost of FOMO tomorrow, and then hopefully something +ve will greet us Monday morning. We're at risk of drifting back down now. Sadly the timelines we've been given by Hanno in the past have never been met and most people (especially traders) will move on if they believe we're looking at another month before something substantial is released. Target is 6-7p on SHATS and historical costs. If SHATS gives us a sniff of CMEC taking more of the project, even if it's just 10%, then we'll fly into double digits. GLA

NKOTB, we can only hope. They're certainly not moving the sp in the same way as previously.

Again, to all new investors, go to twitter and take the names of the p&d crew who are trying to manipulate the sp. This is a stock with huge prospects. This is undeniable. However it's those prospects that allows day traders who work in concert to spike the sp. The fact we're quite low volume and free float means the spikes can be quite significant, even on no news. Yesterday you saw an example of this on quite low volume. No doubt some long term holders have been sucked in by these mini-runs in the past. I know I've been caught up once or twice. It's also very easy to get quite bitter when you see the ups and downs and you're not profiting from them. A few long term posters I believe may be suffering from this feeling right now.

My advice, invest only as much as you can afford to have in this stock for 2+ years. You may just be very pleasantly surprised, but equally, you may still be waiting in 3 years time. A lot has happened since I first invested just after the environmental permit dropped. In that time I've seen 3 major spikes to 20p. And god knows how many minor spikes to 15p. I've gone from holding 250k to 750k across that period as well. Sometimes winning, and sometimes losing. This is why the stock is so popular with p&d crews. Invest your money and put in the bottom drawer. Current sp range of 5.5p - 7p is a good entry point if you're wondering. AIMHO. HTH.

Hi guys, just to point out a few things to the unwary. The small buys going through in the 7's are away to manipulate the price higher. You have a bunch of traders acting in concert at the moment to create a min-run - Please go to twitter so you can see who they are. In the past they were able to drive the SP 25-50%. Don't get excited as it's obvious manipulation to lth's who have seen it all before. The 100k trade looks like someone getting sucked in. The smaller trades are the pond scum twitterati driving up the sp. I'm a long-term holder here so obviously like seeing a higher sp, but not this way.

Depends on whether Tony is going to give away a large proportion of the project for a few million pounds. I'm expecting we'll get somewhere between $8-10m per 10% of the project. Any less and the whole thing will have been a failure. He's certainly making all the right noises but whether he plays hard ball is the question. I'm hoping for (and expecting) for us to be 4.5p ($8m per 10%) 6p ($10m per 10%).

Agreed it's very good news and certainly suggests our project is moving ahead. Do any of the tender docs have time-frames i.e. submission and response / award dates? These will give us an idea of whether they're being twin tracked alongside our project. What we don't need is any more delays. Thanks for sharing Hammerphil.

Jesus, just when you think posters are starting to become more realistic someone finds a tenuous link to something that's worth f'all now and in the distant future. Stick with the main project guys. It shouldn't be too long before you can start p!ssing your pants with excitement on what the company has been set up to deliver. Given how excitable the board has become I'm surprised no-one has pointed out the 250k trades going through today...