Member Info for Gambier

What do expect from management? Low oil price, high taxes, sanctions and undeveloped/end-of-life oil fields. Couple of drills end of 2017/beginning 2018 is the next significant piece of news.

And if they don't, what are you going to do? As they are not subject to any regulation you would have to take out private legal action on the company in Russia. Are you going to travel to Moscow and get yourself a lawyer and pay the hundreds of thousands of dollars in legal costs? You are simply relying on the goodwill of Russians - good luck with that. The best anybody can hope for is a relist. This can only conceivably happen with $80+ oil price, removal of Russian sanctions and stupendous drilling results.

Says the man who invested in Xcite Energy and lost a packet. Keep it coming, I enjoy this sort of stuff.

In fact your XEL posts go back years and are in the hundreds, you must have lost a packet.

I don't take this personally. You are angry with yourself, I imagine you have lost a lot of money.

Every single CEO tells every single prospective investor that their young company is going to be the next best thing. Every single CEO is very confident about their asset and their potential funding. Every single CEO looks to personally profit from their position. Are you so nieve as an investor to not understand this? Seriously, have you spent all these years actually thinking that you ought to believe everything company management tells you? Any competent investor is a sceptic. Any competent investor is suspicious of management. Any competent investor looks for a safety margin. Any competent investor bases their judgement on 'what if' worse case scenarios. Any competent investor laughs at cheer leader analyst reports. Any competent investor is humble and takes profit. And all you can do is to respond to me with abuse and insults (as per prediction)? I pity you.

'he should be lynched from the nearest tree' Really? Did Cole force anybody to do the following: 1) Invest in an oil and gas company that did not have strong and reliable cash flows 2) Invest in an oil and gas company with high Net Debt to EBITDA ratios. 3) Invest in an undeveloped oil and gas company requiring a huge capital outlay 4) Invest in an oil and gas company that was not conservative in their forecasts 5) Abuse and shout down anybody who offer reasoned critiscm of their share 6) Buy in a high oil price era, instead of waiting until there was blood on the streets Every investor is responsible for their own losses. One would hope that the destruction of GKP, XEL and Afren shareholder value would start a new era of small investors scepticism, conservatism and objective discussion. It hasn't, same old extremism. One can only hope that some XEL investors can recoup their losses elsewhere in what is currently a very interesting oil and gas situation.

Agreed.

Persistent buying but still a horrendous spread. No evidenced based explanation for any of this. My guess is Russian stocks are now wanted by funds as possible growth shares re possible removal of sanctions and recent rise in oil price. I'm out at over 4p and taking profit. This could go much higher or bomb into oblivion, has been a very simple double your money this one. GLA

Slow ascent with the very low volumes. This would trade with average volumes of 500,000 per day when the SP was trading above 250p.

They have no legal requirement to report anything to shareholders as they are not listed anymore. Plus, it is a Russian company, so practices are nefarious most of the time anyway. It hard to see how the company will operate in the future. The debt burden is so huge, and its capacity to meet debt payments is virtually zero. Excellent news regarding flow rates and well costs a few months back when they spoke to industry press. Even the debt ratio had come down. They are targeting 12 thousands barrel per day by end of 2017 with a projected $50 oil price. That produces a debt to EBITDA ratio of a still horrendous 8, totally unacceptable for a new FTSE listing. Personally I don't think you will hear anything from the company and the website will just disappear. Maybe they could relist on the MICEX if oil prices jumped to $80+ and drilling went spectacularly well. Who knows, it's Russian, anything is possible.

Two pence gives a 100% profit , very tempted to sell now. I have a hunch this has further to go. Pure guess work right now.

At 12p definitely overvalued. At 2p fair value. If they drill a couple of 500+ bpd wells then 12p might become fair value. Currently much of the reserves are based on old abandoned wells which they work over and other acreage that has no seismic. Can't blame the BOD, over the last 18 months they have operated quite cleverly. People have bought into UEN based on historical SPs, hoping the old 12p takeover talk will resume - it won't because no genuine offer was actually made, it was the playing of politics. 2018 will bring some interesting drills results and then maybe a work over sometime this year.

Decent size and you move into 4+ bid. Quite easy to offload decent sizes at the current bid.

Looking at the book this morning, the spread looks relatively tight at higher prices so one might expect a breakthrough to 4p. Without knowing the reason for this rise it might be tempting to cash in a 100% profit from a sub 2 pence buy-in.

Maybe a Russia Small Company fund allocating some of its capital. Quite a few Russian stocks listed on LSE going a bit bonkers right now. There has been no fall back and spread has tightened, which is of interest.

With virtually no interest in the share there are not the competing parties that will close the spread. Until the company announces anything objectively value adding there is good reason for the lack of interest (why lock your money up?). Couple of drills at the end of this year and if any if those come back with flow rates above 500 bpd then this would go into orbit with such poor liquidity. However, somebody cares to disagree and is currently building up quite a large holding.

I have just read all the share issues/debt restructuring info on the Talvivaara website, previously I had just skimmed. From what I understand, the share issue at 0.114 is merely a number that is being used to convert the debt to equity and so produce the reported number of new shares. When it relists it will be a shell company that has a few million in cash but diluted by many more millions of shares. As such the price of each share will be incredibly low and not anything near 0.114 Euro. Very happy to be corrected on this.

Multiple four figure sums - would be looking at a Bid of 4p, spread is much narrower so might see a lot of sells in the process.

Book cleared this morning again, next jump in price for four figure sums is pretty big.