Member Info for GarryGraham

My most significant two concerns are: 1. Once the share price consolidates, will it fall dramatically as 50 to is a massive consolidation? If so, is it best to wait for it to consolidate and buy-in, as the SP usually falls after consolidation, and will there be another massive share issue once it's been consolidated, rinsing and repeating the retail investors once again? 2. Will the drill go ahead with Chevron, and if they do, what are the chances we will find oil? It is a MASSIVE gamble. I don't care what Willec and his campers say. It's a binary position. This is the last chance saloon for CEG. There are no other plays, and they are the last cards on the poker table. It is either a winning hand or a busted flush. Willec goes on as if we have already found oil in the billions. GG

Reading through the latest RNS, I am surprised everyone is making a big deal about it. Unless I am mistaken, CEG will receive a loan of £1.5m, which is convertible to shares upon request at a shallow rate. It's a 12% short-term business loan with stipulations that 50% is spent on Block 3, and the rest is working capital ( B.O.D.'s salaries ). £1.5m is hardly a significant sum of money, and one of the conditions that should alarm retail investors is 50/1 consolidation. Rinse and repeat all over again. In his last video, Eytan said he had no intention of diluting the shares again. Well, this looks like the first step towards doing so. Consolidation and then share issue, consolidation and share issue. Also known as rinse and repeat, rinse and repeat. Age-old format for low-cap AIM companies, which is tried and trusted to raise monies for the directors whilst rinsing the retail investors of all their monies. GG

I don't know what is worse. My beloved Man City getting beat on a penalty shootout by Real Madrid at The Etihad or being the whipping boy for a torrent of abuse by fellow CEG shareholders. For the record. I am not a troll. My friends and I are genuine investors, and between us, we have well over six figures in CEG, so I do feel I have a right to express an opinion. All I am saying is to be measured in your posts. It is a super high-risk share, as are all oil exploratory companies, but Eytan does look like he is doing the business after the disaster of Simon Potter. The deal with Chevron looks on paper to be very strong for CEG Shareholders. It is a binary company, so there is no mistaking that. If Uruguay fails, the lights will go out, but let's hope and pray that it doesn't. I, for one, would be very, very happy if they hit black gold in South America, and I wish all fellow shareholders Willow and Incendros included the best of luck. Final words be measured in your posts. GG.

Total Energies plc Drilled to a record low of 3400 metres in an area not far from Block 1, and the only thing they discovered was

DUST. GG

Thanks Ltid -

The total drill was In the same area, but block 1 is closer inland in shallow waters. Am I correct in saying no one has drilled Blocks 1 or Block 3 before, or any other blocks owned by the other majors surrounding Blocks 1 to 3?

Can someone answer this question? I have looked for the answer and cannot find it.

Question: When Total Energies conducted exploratory drills off the coast of Uruguay, were any of them in Blocks 1 or 3? Am I correct in saying some of the drills were in Block 3?

I do not know the answer to this question and would be interested if anyone could shed any essential information.

Much appreciated in advance. GG

I have added to my load today and intend to add further. Im balls deep anyway so a few grand more is just going to bring the average down and if the miracle happens my Grand-daughter is looked after. Its only money lot's more important things in life. GG

Willec - "The fact that casings have just arrived in Argentina can over just make the entire situation for us 100 times better".

This post is beyond ridiculous. It is like Robert Edwards, The Manager of Luton Town, telling Pep Guardiola that the kitman has just dropped off the boots, and because of that, we are now going to beat Man City 5-0 at THe Etihad and win the Premier League by 10 points. GG

Incendros—My final comment is that I want CEG to find oil and lots of it in Uruguay, as my friends and I have many shares. However, I would add extreme caution to new investors as this is a very high-risk share, and the continual ramping of this share can be dangerous to retail investors who cannot afford to lose their hard-earned monies. I would politely suggest those posters on this bulletin board who continually ramp this share take a more measured point of view. The likelihood is we won't find oil, that's just this industry, but there are promising signs and CEG could hit it big. It is not an investment buying these shares its a gamble and let's hope it pays off for all of us : GG

Incendros - With respect I would like to share two stories in relation to this company which are absolutely true. Firstly, Eyton Uliel was commerical Director and Simon Potter was CEO when Challenger Energy Pllc for the twelve month period leading up to the drill in the Bahamas oil fields, the management of the financial position and the whole drill exploration for shareholders was nothing short of a farce. During this time there were an overwhelming number of posters of which I was one who were known as rampers. We dismissed those who questioned or challenged Eytan Ulliel and Simon Potter as trolls. There was one significant voice in the wilderness and his pseudonym was " Irene Krapper ". He continually criticised the board of directors and warned everyone about such things as financing and the leadership or lack of it and against a barrage of abuse and he was castigated as a negative troll. Everything he said came to light and his predictions were absolutely spot on. BPC plc as it was then known even presented to potential investors a video only a couple of weeks before the announcement the drill was a commercial failure that they were planning for a Perserverence 2 drill due to the anticipated oil and showed a board with this. The director who did this presentation (Simon Potter was conveniently at sea ) had the appearance of a novice poker player with a dreadful set of cards playing at the world poker play finals in Las Vegas ). " Irene Krapper - the so called TROLL could have saved investors thousands of pounds of their hard earned pensions and savings if everyone had listened to him instead of the likes of others as we all did. Starchild being probably the most infamous. Now if you discount this as me being negative and a " Timid Troll " let me tell you the second part of this episode. When 99% of all investors had lost 99% of their money I had a phonecall from a completely anonymous individual who had called me and was in tears. He had listened to the continual spew that had come from Potter and Uliel and all the rest of the team ( His words not mine ) and he had lost all this savings that he had worked hard for which he had put into a savings account for his granddaugher. He had done this as he had been diagnosed with a terminal illness namely Parkinsons. Now one could argue and I would certainly agree that he took a huge risk but I would also counterargue that to give FALSE HOPE to retail hard working investors by continually posting ridiculously upbeat posts can entail hard working individuals to lose all their money. Mr Ulliel and Mr Potter receive and have received a fantastic salary and although they have shares in Challenger Energy Group will always be comfortably off. The same cannot be said of the vast majority of small retail investors who have investments in VERY HIGH RISK companies such as this. Call me a Timid Troll but remember Greed will always defeat you as it is ALWAYS stronger than you. GG

My thoughts are the SP will go back towards 0.10. I may buy some more shares there and average down. I have lost that much on this company what's a couple of grand more ? In relation to the farm out with Chevron I wouldn't bank on anything knowing this company until Chevron sign across the dotted line as we have in my opinion been misled that much in the past from the board of directors. GG

Willec,

I have a lot of shares in CEG, and of course, I want them to succeed for the sake of my Grandchild. However, I am a realist, and I have to ask you the following questions :

1. How much would CEG's market value be if Chevron and all the other majors hit dusters in Uruguay?

2. In block 1 - Are aware the chance of striking a commercial success in a frontier area is 1/10. The odds are heavily against us.

The share price is 0.1425 for a reason.

All the very best to all of us : GG

I am an old investor here, and I have had my fingers well and truly burnt here in the Bahamas debacle. However, that said, there is an opportunity in Uruguay. My unbiased view on this stock (and my friends and I still hold a considerable amount, well over six figures) is as follows:

1. Bahamas is well and truly finished.

2. Trinidad is making no money and is breaking even. From recent interviews and comments by our CEO, I feel the Board of Directors does not have much appetite for Trinidad. However, Ulliel has done well in breaking even and turning around a loss-making region. Eventually, this will be relinquished.

3. Uruguay is Eytan's " golden egg ". The farm-out deal in which he has agreed with Chevron is, on paper, a superb piece of negotiation; however, I would add the contract has not been signed, sealed and delivered yet, and I would not be surprised if there were a few other caveats in which Chevron placed last minute. We must remember that Uruguay is all or nothing for investors, but to Challenger Energy Plc, it is everything. To the likes of Chevron Oil, the sixth biggest oil company in the world, it is one of many oil exploration ventures. However, in principle, Eytan has obtained a first-class deal for shareholders if all is confirmed in a few months and we have commercial success.

4. We must not lose the site; other major oil companies have explored this area and have not proceeded further. Eytan argues that these blocks are similar in geology to Namibia, and the 3-D seismic supports a major oil find. The odds are against us as investors, and we must be realistic. Majors are interested. So, no oil has yet been found, and the likelihood is it won't be seen as most virgin drills are unsuccessful, and before Willec starts shouting me down, we have a lot of skin in the game.

5. On a positive note, if Oil is found in quantities that Eytan has mentioned. Personally, I think block 1 has a far better chance and is probably the prime pick of all the blocks and no further dilution is done of shares we should all do very well out of Challenger.

6. Chevron is doing the drill and the exploration. This is fantastic news. At least they won't be dropping spanners down the pipes. Please don't let Simon Potter anywhere near a presentation. I've had to spend a lot of money on Rehab after the Bahamas debacle and the nonsense that came from his lips and Eytans as well. GG.

Could someone kindly put a link to the presentation. Im an old investor who got burnt badly on the Bahamas but hopefully things will turn around. I know its a long shot but one never knows.

I wonder if Philip Sanderson, our prized Financial Controller, will take a salary drop from his reported £ 500k salary. He lamented in the appalling and arrogant investec video call that their salary package, which the board of directors had received, was justified as the remuneration committee had reviewed it and stated it was acceptable. What has happened since then is that the company has become a worthless piece of junk. The problem is great technology but an incompetent and overinflated board of directors and senior management who could not run a corner shop let along a SAF technology company. Henrik Wareborn, Philip Sanderson and the rest of the board should have some dignity resign and stop milking shareholders. GG

Last AIM Share I will ever be buying. Legalised robbery. Better return buying lotto tickets.

The problem is simply a lacklustre and tepid board of directors and senior management. Henrik Wareborn, in a recent RNS, stated that the company hopes to convert two enquiries into full clients by the end of the year. How lame is that statement? I think the commercial and marketing team needs a massive shakeup, and I can't see old Henrik throwing the teacups when Andy Bensley comes in at the end of each month stating, "No new contracts, boss "as for £61000 half-year turnover - that equates to about £2000 of sales per employee. Hey - what a sales and marketing department they have there. I would have fired the lot by now. GG.

Hi Rick,

Maybe they don't have anyone working in their "Investor Relations Team "?

I bought into VLS when they were awarded the considerable grant, thinking I was on to an excellent investment. It's been a Circus since then, and the circus master is Mr Wareborn, our CEO, looking after the rest of the clowns on the board of directors and management team. An investor nightmare - Terrible communications with the investors whilst the Board of Directors are like " pigs at the trough" feeding on shareholders' investments in their monthly pay packets as the shareprice crumbles. The CEO says the huge salaries are justified as the remuneration committee has decreed it is acceptable. A TOTAL CIRCUS. GG.

Its amazing to see how the chairman of the board can see the market value of this company plummet and how we have signed no new contracts in 12 months and had a turnover of £61000 in a six-month period, funding difficulties and still all the main players on the management and board reside in their positions. Trust me if I was in charge, I would shake this company up from top to bottom and give a shareholder value and truth and honesty. First out would be Bensley, Wareborn and the Chairman and Sanderson would be in the firing line next as well for failing to get the funding. GG

After perusing the website again, I believe that some of the non-execs may no longer be there, and the board looks pretty slimmed down. I recall previously seeing many more accountants and a lady who classified herself as a "strategy expert". Again, surplus to requirements on a half-yearly turnover of £63,000. If this is the case, this is positive news as the company cannot afford Henrik Wareborn and Philip Sanderson's outrageous salaries, let alone a room full of strategists and accountants on such a miserly annual turnover.

The main point of my post is I would appreciate other investors' views on their feelings that the new plant in Ohio, which manufactures and maintains the Reactors, can only produce a maximum of twelve ( 12 ) per annum- Source Velocys plc website. I am not a scientist, but I have a business understanding, and twelve manufactured reactors in a year will not solve the carbon emissions industry for the US Airline Industry. Finally, as an investor, will twelve reactors manufactured in a year significantly increase the market value of Velocys plc? All points of view appreciated: Best wishes : GG