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well, well, well. let's look at what the snake has done. and let's examine the posts of some of the ignorant rampers, and one who is as much of a conjob as baay himself. if ever there was evidence of the immense deceit of lyin paul, it's this fundraise. the facts are now evident. he raised an even greater amount than required, did so over 2 months before the deadline, and before casc 5 & 4 are announced. success with both wells would have pushed the sp, and raise price, higher.

let's walk through this.

1. lyin paul raised before casc 5 & 4 results. why? if we're to believe the folks on here who are so well connected to calamity baay, why not wait until both wells are drilled and the sp higher? either he knows casc 5 is poor, and casc 4 is f@cked, or he has given away even more to a new investor who gets to reap the rewards of all the money pis have invested here to build everything. whatever way you see the story it's terrible.

2. lyin paul has raised even more than the funding gap, and if the retail offer is taken up it will be in excess of $1.5m. meaning even more dilution.

3. lyin paul told a major pi that the funds would be used for debt repayment. looks like it's to drill central and pay for the compressor alone. so what does that say about our financial state? c'mon rampers, tell us how much money the company is throwing off and why we needed to raise a greater amount for development plans.

4. lyin paul continued to talk about our 'close relationship' with our banking partners and discussions regarding having the loan terms amended. obviously this was never an option, especially because we are raising over 2 months before the end date for the funding gap to be filled. but he still kept the story alive. why?

5. lyin paul talked about off-take agrremeent, rbl, and 'other options'. he never even tried, and instead raised more, at 11p, before casc 5 & 4 results. we had more than 2 months to find another solution.

lyin paul has given a huge piece of this business, at a grossly under-valued 11p to a new investor solely to pay for his monumental incompetence with the original raise, and his extraordinary deceit in covering up the loan terms for an even greater funding requirement, which crashed the share price.

do the rampers here wish to respond? just on the points above, you know the facts of how everything has transpired.

the board seat is to shore up his position as chief freeloader. nothing more.

johno, do you feel conned after your conversation? let's see if they change guidance for the year, and more so for casc 4. bet you it's **** and he'll provide a 'dog ate my homework' excuse for the delay in hook-up, and poor flow-rates. but by then he'll be talking about central and the lemmings here will be doing the same.

an egm needs to be called.

BB, everyone, send the email. Please confirm once you have all sent it.

The next step is emailing the Nomad. Completely unacceptable from senior mgt. If an offer is being discussed it needs to be RNSd. If we are looking likely to miss guidance, it should be RNSd. There is absolutely no justification for them to remain silent with this level of share price destruction in less than 2 weeks. I would also recommend sending some of the wording in my previous post outlining their fiduciary duties to shareholders in providing regular, substantive updates to the market to protect shareholder wealth. This has been shockingly poor, and made worse by the number of industry events they have been attending whilst treating shareholders who own the company like mushrooms.

Completely and utterly appalling of mgt to be doing nothing to support the share price when we are 25% down in less than 2 weeks on the back of nothing. Simple update confirming nothing rotten is happening, and reiterating their confidence in guidance being met. We have 2 months of the year to go, so you'd hope they have a fair idea of how things are tracking. They could also put their hands in their pockets for some shares. Makes you wonder why they are staying quiet when they can find the time to speak at all these industry jollies...

Ali, I cannot help it now that I know how much Zero, Sturm, and Aye enjoy my posts :)

And if Calamity Baay dilutes our ownership to cover up their monumental failings with Central, it will be more than just him who gets emails. He has options to make amends and pull us out of near all-time lows with a huge re-rate almost immediately. He has time to do it. Genuinely interested to see what he does with this mess, the easy way and screwing over lths (except for majors with deep pockets who participate in the lowly valued rights issue), or he does his job as a CEO and finds a non-dilutive solution that works for everyone.

Last for me today. Time for the rampers to enjoy talking about Casc 5 and Central whilst we're in the 11's due to the funding gap.

haha. funny how the o&g experts were saying a little over 2 weeks to hook-up and flow test. sm has been saying 'lift off with casc 5 news this week' for the past month. one would certainly hope for news on monday. but i reckon they will take another week to scratch their b@lls and announce flow tests.

what i'm most interested in knowing is casc 4 timings. i've said that i think they have f@cked it badly. whether it's a write-off or not is the question.

now, if you are to think like calamity baay, i would say he will delay the hook-up of casc 4 because we need to protect and maintain casc 5 flow-rates etc. this flies in the face of having to wait for casc 4 to be completed to hook up casc 5, but now suddenly they want casc 5 online first...? interesting. by delaying it he gets more time to say 'look we have improved on the absolutely dire q2 results', 'we managed to drill and hook up a single well', and best of all 'central is the game-changer'. lemmings then run after these shiny objects, and then he'll announce casc 4 is f@cked. or, he'll even wait until central news, providing it's good, to bury it amongst the celebration that they managed to drill another well.

i've worked in an industry that's famous for b@ll****ting, and i have worked in some of the biggest and best of them over my entire career. folks don't understand just how much senior mgt, even the good ones, b@ll**** their clients, and the market. in my last role, they talked about their shiny new strategy, dropped £100m into buying and building it out. and half of it is has ended up loss-making with little chance of it turning a profit in future. the other half makes money, but on a much lower margin, so the roce is laughable. the loss-making half they buried in the accounts of other parts of the business that were growing. it's how these guys operate to save their jobs when they are incompetent. the only thing i've seen at an exec level that holds true across all businesses is they all have immense levels of confidence, and most of those have immense levels of arrogance. about 50-75% of them are competent to highly competent. the rest, absolute chancers. it's why i have a disdain for incompetent b@ll****artists. and calamity baay unfortunately got past my nose for it. i should have listened to the poster when we were in the high 30's saying the canadian o&g industry thinks little of him and he's described as a 'wide-boy'. can't remember who it was. anyway, more fool me.

still a chance of making a profit in the next year if he doesn't dilute us further.

Says who, Stas?

Aye, let's see if you can answer another question, given you were unable to respond to my True / False list of the past 6 months, which btw was a direct response to one of your senseless posts.

So let's assume THE BEST CASE scenario that you have outlined - they are about to bring on Casc 5 and Central to go over 22mmcf. So why is the share price still at 12p? And where do you think the sp will sit after when Casc 5, which you are assuming to be good, comes online? Simple answers, not that you are capable of anything else.

Indeed Lukee. Have you sent the email?

Worth noting, the content calls on them indirectly to fulfil their fiduciary duties in two ways - see below. Perhaps add this if you feel it is necessary to highlight their responsibilities. To have an inexplicable 25% drop in company value in a little over 1.5 weeks, and not address it, is completely unacceptable when they are jetting around for industry events. A lack of information in a critical period to regain shareholder trust, after the massive downgrade to guidance this year, should be assumed and not demanded i.e. it's an important part of doing their bl@@dy job. And as OWNERS of the company, we pay them to do it.

YHAL, Old Pro, would be good if you send the email as well, or your own. Bl@@dy ridiculous to even be asking for this. I hope they are not delaying addressing the market with bad news because they don't want it to appear as a 'leak'. Certainly not the way to do it. The leak causes the decline, confirming an issue only makes the sp drop further.

Main Fiduciary Duties of a CEO:

In simple terms, a CEO's fiduciary duties are the legal and ethical obligations they have to act solely in the best interest of the shareholders and the company. The email content directly references these duties by demanding management "actively support the company's valuation" and address the "unacceptable volatility."

1. Duty of Care

This requires the CEO and management team to act with the same level of prudence and diligence that an ordinarily careful person would use in a similar situation. What it means for investors: The CEO must be informed and take reasonable steps before making major business decisions (e.g., managing communications, setting financial guidance, and ensuring adequate internal controls). The demand for substantive updates and criticism of broad guidance directly invokes this duty.

2. Duty of Loyalty

This requires the CEO to act in the best financial interest of the company and its shareholders, not their own personal or external interests. This is the cornerstone of trust. What it means for investors: The CEO must avoid conflicts of interest, prioritise shareholder value over personal gain, and never exploit the company for individual benefit. The strong argument that communication is necessary to mitigate the risk of a "lowball takeover" and that management should prioritise investor calls over PR events is essentially demanding that they fulfil this Duty of Loyalty to protect the collective shareholder wealth.

zero, do you seriously think that i haven't considered that scenario? you seem to have gotten things all messed up, so let me help you. shareholders are the party that can pursue the directors. not the other way around.

go and re-visit the true / false game that we played earlier. now imagine if calamity baay wanted to pursue me on any of those claims. firstly, they have been made by many investors who have seen close to £70m of their money disappear in the past year alone. but the only thing you could even bite at was an opinion that it takes 6 months to make such a mess of a straightforward acquisition.

i think baay and the directors need to seriously consider that shareholders may go after them based on the omission and withholding of market-sensitive information, and the lack of communication of this information in a timely manner. this covers the raise money falling over and not being announced for a month post-closing date. but the big one is not informing the market of the loan terms, deliberately withholding the information for 2 months even as the raise money had not been received, and then dropping that bomb at the same time as announcing that the raise had fallen over.

claims of incompetence, do you think they would really want to go there after the sp has dropped 90% in 5 years, 80% in 2 years, and 65% in 1 year? and where would you start? financial mismanagement. development f@ck ups. central ****show. lack of dd on portillion.

can you even imagine the emails and paper trail that surrounds just the past year of decision-making?

so yeah, if they want to come after a pi who has lost over £100k for pointing out their failings, i'd welcome it.

let's hope they don't do a rights issue down here. because it could get a whole lot messier for them when the most thick-headed pis understand the consequences of it. the good thing is they can avoid all of this, and me pointing out their failings, if they do the right thing by lths and find a solution that doesn't dilute our ownership of the company any further. i've given at least 4 solutions that would work. they only need to deliver 1.

Fellas, they need to hear from their investors that continued silence is unacceptable, given the 25% drop in the share price over the past 1.5 weeks. If there's nothing rotten in the state of TIG, they should say as much and reaffirm guidance. If there is, well, that would not be good for them. They also have a duty to act in the best financial interests of the company and their shareholders. By not providing substantive updates to the market or performance, or what could be occurring when 1/4 of the company's value has been wiped out in a little over a week, is most certainly not acting in accordance with that duty.

Send the email in the chat. Hopefully, we'll get an interview, or something, this week. Madness if nothing is going on behind the scenes. But infuriating that it can happen due to their lack of engagement with shareholders.

I'm also with Lukee now wrt BBs. If we're going to hit guidance, it would be better to throw $5m at BBs when the sp is at this level.

It's a decent-sized trade, but not massive. And it doesn't explain the algo trading all the way down over the past 1.5 weeks. As for them 'knowing something', it would be a big flag for the FCA to look into and unbelievably stupid to do. And it would be even stupider if the company is sitting on market-sensitive information while this selling has been going on.

I simply find it astounding that mgt is saying nothing about performance when the market is crying out for it. The sp is looking as though the company is going bust.

Lukee, the phone number goes to voicemail. And they don't respond.

Send the email, and mention here when you have done it.

My motives are pretty f@cking clear SM. A h@lfwit can work it out (except for Zero), because I've said it so many times. And yet people like you, Aye, Sturm, and Zero still question it.

Here it is again. Now engage your brain and decide whether everything that I'm saying makes sense, alongside the timings, and my historical statements.

The only thing I want Baay to do, other than leave the company, is not to destroy our wealth any further by pulling a highly dilutive raise to pay for his failures. And that's because I have a 1.5m holding in the low 18's, and I don't want to sit in this share for over a year with the sp below 20p. I also don't want lth's substantial investment in building this company to be diluted and enjoyed by new entrants because of what Baay has done.

I started smashing Calamity Baay after he conned shareholders about the raise/loan dependency, by deliberately withholding and omitting market-sensitive information. I thought he was a useless pr!ck beforehand, but this level of incompetence, lies and deceit are inexcusable and unforgivable. You know that I was buying from the low 30's down to 20p when he pulled his biggest swindle of all. And from then on, I have wanted the man crucified. So are the dots joining up yet?

So if you are going to say something like 'you're trading', no, that's you SM. And it doesn't match up with anything that I've been stating here, and when I've been stating it. I'm not popping up ramping on a whiff of good news, calling L2 exploding, and then disappearing when the sp retreats. And suggesting that I have multiple accounts because others agree with me is about the only other predictable, id!otic thing that people say on this site when someone isn't happy to talk rampy b@llocks.

Get it through your head. I want a non-dilutive solution. That's it. And guess what, if what I'm proposing happens, you'll even make a profit if your holding is what you say it is, and your average is in the teens.

Great for Jeffery Wood to be taking advantage of buying in the 11's courtesy of Calamity Baay.

Reckon it might be worth all of us sending an email again to IR as there's strength in numbers. Here's something you can cut and paste if you are happy with the wording. The fact mgt is not responding to anyone is unbelievably poor and somewhat telling. But I think if enough investors send something, it may spur some action, be it a performance update, buyback, or even accelerate a t/o bid if that's the primary reason for the manipulation. I'm trying somewhat unsuccessfully to marshall shareholder pressure in TXP, sadly an even d@dgier stock I'm neck deep in. F@cking poor what goes on in AIM.

Dear Investor Relations Team,

I am writing as a concerned shareholder to address the recent volatility in the company's share price, which has led to approximately 20% of the company's market value being destroyed in just over a week.

My primary concern centres on the market's vulnerability to algorithmic trading when there is a lack of clear, consistent communication from management. The guidance provided in March of this year was notably broad, and having only a single subsequent performance update is insufficient to reassure investors of the company's trajectory during a period of significant change and transformation.

It is a core responsibility of senior management to support the company's valuation through transparent market engagement. The current lack of timely updates leaves the share price at the mercy of volatility and makes the company highly susceptible to an opportunistic, lowball takeover that would not realize full value for shareholders who have already incurred significant wealth damage over the past nine months.

I formally request that management take immediate action to update the market and support both company and investor value. Specifically, I ask for a substantive update on current performance and how the business is tracking against the guidance provided in March.

Finally, while management's presence at industry events is valuable for PR, I urge them to recognize that dedicating time to direct, regular investor interviews and performance updates will have a far more significant and immediate positive impact on company valuation.

Thank you for your prompt attention to this critical matter.

Sincerely,

i'll walk you through my thinking.

firstly, i don't think we are in for a profit warning, and the market knows it is coming. why?

- they provided the h1 results just a couple of months ago. guidance remained unchanged. they were confident in the search turnaround and the comparison scale-up. to say otherwise would mean a lot of questions.

- they have received enough emails from investors and their ned to know of their fiduciary duties. they also know that last year's profit warning came after some very high volume selling the day before. clear insider trading imo, which i think would be called into question if this was to occur again.

- we don't have high-volume selling. we have algo manipulation around 50p. whoever is keeping the sp pinned to this level is responsible, and they must have a decent amount of shares to keep it from breaking above 52p.

so why the algo trading? who is doing it? and why 50p?

it could, of course, be a big iceberg sell going through. if an iceberg sell:

- why isn't the company being proactive and supporting the share price to fill the information void on performance and results? they clearly have the time, given they are attending all these events. they could also announce a small buyback or off market deal if they know who is offloading.

- why isn't kestrel losing their **** about the market selling down their biggest investment due to the information vacuum?

leads me to the sp being manipulated for a lowball t/o offer. but by who? and how could it happen?

- keeping the sp pinned to 50p for an extended period of time firstly makes the offer seem far more attractive when looking at averages over time, and secondly, it makes pis throw in the towel when 75-80p comes along because they know how low the sp can get.

- a lowball could only go through if kestel is on board. so 75-80p would fail, unless kestrel and potentially another major investor are involved and can gain from the lowball take private.

- the above would explain the sp suppression and radio silence from the company. tell michael and billy they get to keep their nice jobs and pay packets; they just need to keep their mouths shut.

final reason is that the market has got it all wrong. and tig is being sold down from the mid-60's (where it was under-valued) to 50p.

just to put things in perspective, even if we miss guidance but reach $55m adj ebitda, and have $85m in net debt, this will have us on a 4.5x ev:ebitda multiple. that is utterly ludicrous given the nature and profitability of the business. they are also very conservative numbers. hit lower guidance and pay down debt to $80m, which is what the numbers should be if we hit guidance, and you have an ev:ebitda of 4x.

i just bought 12,500 and 5,000 shares under 50p. sp is still being pinned back to 49-50p.

to be fair, even if kestrel and another holder teamed up in a take private, providing i get 80p they can have the shares. speaks to pis 'throwing in the towel.

nailed it, stas. the discord group has become a barrier to change, rather than a means to change things. extraordinary how many things get made up to justify repeated failure and deceit. worse still, how easily b@ll**** is digested and passed onto others to keep the masses from revolting.

accept the sp decline and suppression post central being announced is because of the loan terms (we knew nothing about), and the funding gap that still exists. that's the problem.

the solution to the sp depression is not to dilute our ownership and allow other investors to take more than 20% of the company at 10-11p.

the solution is to find a non-dilutive instrument, or for the bank to change the terms.

one avenue the sp stays between 12-15p for a very long time. after all, if you stumped up $7.3m (and got paid another $500k in fees), would you take a quick $2.5m profit in 6 months and walk away from this ****show? of course you would. that's what will happen with a rights issue.

the non-dilutive solution and the sp will jump to 16p, and then drive to 20p with casc 5 and central success.

not hard to work out what baay needs to be pressured into doing. but handing out 20-25% of the company for peanuts will keep him in the good graces of major holders. it's lths who get f@cked.

anyone in the discord group who thinks otherwise is either ignorant as hell or has ulterior motives in supporting baay.

zero, no, it's a fact that it took 6 months to close the deal. and it's a fact that they pushed out the long-stop date, and a last-minute raise was done with a bucket shop in the extension period.

what you have offered is an opinion that it takes 6 months for multiple parties and lawyers to close such a deal.

as for shooting myself in the foot with the discord group. anyone who has questioned the mindless ramping on the fanboy club gets ousted. and if a rights issue goes ahead, it will be their feet that are full of bullet holes, not just mine.

baay is a conman who will do whatever is best for him to keep his job. the issue is that ignorant folks like you are easily fooled by such people. just throw one bit of b@ll**** into the mix and you all start focusing on it, rather than £70m of your wealth disappearing in the last 12 months, all of which could have been avoided with a monkey in charge. ii's getting on-board. guyana oil potential on-shore. central is a game-changer. 'drill to fill' when we don't have enough cash to drill two wells after they f@cked the first.

if he does a rights issue with a vulture fund, we're completely f@cked. if he does it with existing investors, which is more likely, it will be to lower their averages and to keep his job. either way, the sp gets f@cked.

incredible that people who have lost so much money are willing to let him do it all again. just reinforces that 'fools and their money are easily parted'.

Well done Zero, for challenging one point. Simple answer is that it did take 6 months to close. Fact. And no, it doesn't take that amount of time, as evidenced by the first agreed long-stop date. And the reason why he did a last-minute raise, with a bucket shop, which was attached to the loan that we didn't know about, is because we were close to missing the second long-stop date.

He basically made such a h@sh of things that Shell held firm on the extended hard date, he panicked, and f@cked up everything even further.

thanks ss. great that you are seeing how we're in this mess, and how it could get bigger, for longer, with a rights issue. the only way for the sp to get back above 20p in the next 6 months is for a non-dilutive solution to be found for the funding mess created by baay. he has options that he must pursue.

have to say, i had to laugh when he said they're looking to bring a long-term ii on board. no doubt discord got all excited about this shiny b@ll**** statement from baay without remotely scratching the surface of who one would be if one did join in our current state. one word. vulture. they'll rip our eyes out on the raise price, and take a **** ton of warrants. so the worst of two **** scenarios.

more likely, he's going to call on existing major investors who are ready to oust him. they get to lower their averages and will be paid first, and he gets to keep their support and his $800k package. we get dilution.

it's truly alarming how many of you don't see the 'why' and the 'how' these things play out.

ss, i hope you have sent the email, because we cannot put the genie back in the bottle if he takes the easy option and dilutes us further at this level.

Highland, so you are saying that Baay is lying about being able to change the loan terms? Which is it, you're saying it's not possible, when Baay is saying it is, and they're in talks with the bank? Why would he repeatedly do this if it isn't possible? Or is it just more Baay spin after he has f@cked everything up? As for your Discord Club, all you guys do is mutually masturbate over the next promise from Baay and do nothing to hold him to account for all the failures.

SM, of course, I'm the same person Nav, Stas, Ali, Dunder, you got me. You're like Zero and Aye, grasping at 'he's a trader', 'he's not invested and trolling'. Incredible how small minded people go with the same b@llocks.

Aye, still nothing then? C'mon point out the half-truths. Speak to Zero, employ that brain cell and find an answer.

Smasher, well done on making money here. All you've confirmed is that you can afford not to care about how everyone else has been conned out of their money. Tell me, though, how has the share price gone down 90% in 5 years, 80% in 2 years, and 65% in 12 months? And what caused the most recent massive drop and share price suppression? Take a look at the long list I provided and find a false statement. And take a look at the sp once we found out about the loan terms and the funding tombstone still hanging around our necks. Baay has continued to tell stories, f@ck up basic things like acquisitions or drilling a well, plus withhold material information. So how are investors at fault here? Seriously, give me a reasoned argument as to how anyone invested here could have known what would transpire based on all the things promised, and withheld by Baay? Because if you can, you can give me a list of lths who are currently in profit - please share.

Sturm, the other genius of the board. You're going with I sold out now. So tell me, what am I 'on the sideline x'ing my fingers for'? Can't wait for the answer.