Member Info for GingerAle

Remember, the 20% of extra shares are at 410p and not 0p. The other 80% were 500p this morning, so the new price should be above 460p assuming the 500p this morning was an accurate reflection of the price before the announcement.

Never even got the rns alert until 1pm by which time it was all over for the likes of us.

However, strike price was 410p, so managed to top up at 422 just now. By rights, this should be over 460p by close, based on the 20% increase in number of shares.

Hope so anyway.

I've just bought a box of Greggs sausage rolls at Tesco for £3.30. Every little helps towards the profits.

And our local Greggs in Chester-le-Street is always busy. Got to be good!

Glad I added at 72p. Everything seems to be back in order and the outlook has to be positive from here.

Hopefully will head towards 100p now. Tempted to add some more if the price falls back a shade.

Thanks for the update Mr. P.

From what you suggest it could be a longer wait for an upturn or new offer being made than I hoped.

I am tending towards hold, as that was my original plan. May even buy a few more if they drop below 100p.

Report on Investing .com says Nigeria private sector showing strong growth at end 2025.

I've added to my holding at this level as I see this as a definite positive for PZ.

Have been in and out of these going on 20 years. Sold at 153p when the latest offer was first made, for a modest profit.

Having watch the chaos unfold, I have decided that if the two parties, as well as potential watchers in the wings, think the company is worth at least 150p per share, then this price is ridiculously low. Even if they all back away and the price drops below 100p, it is only a matter of time before someone comes along with another offer which will certainly be above the current price. Let's hope something positive happens on 7th.

Thank you Ryan,

That's a bit worrying knowing that Samsung are now involved via their US subsidiary Harman International.

Hopefully our product is better and similarly attractive to a large player at some point.

Samsung are to buy the ADAS unit from Germany's ZF Group for €1.5 billion. What does that mean for us and suggest our value should be.

Is ZF's product a serious competitor to ours?

Healy:

I don't recall saying anything DH.

I was merely asking a question so that I would be more familiar with the financial situation so as to make a decision as to when to buy back in.

Perhaps it is you who should be on the ginger ale. Obviously what you are on goes to your head too easily.

Don't worry, I won't be posting again with abusive people like you around.

Thank you for the comprehensive reply, newtofo.

I was not aware of all the finer details of the various transactions.

I had just hoped the cash was sitting in some contingency fund or other, that might be diverted for future cash flow.

Your explanation puts that one to bed.

As cash is now so low, I suspect Mr. Sheffield will come to the rescue an buy in for additional 10% stake at a discounted price around the 10p mark. He paid 14p last time, but he may not be so generous this time.

I myself will be buying back in once this financial puzzle is resolved.

Can someone elaborate for me?

On 28 Feb 2022, just after the placing, FOG had a cash balance of over $18M.

At year end, Dec 22, it had a cash balance of over $16M.

We don't have year end Dec 2023 results until April, but we are told recently that there is now a cash balance of $5M.

I note that expenditure on General and Administration has been in the region of $3M for the two prior years, so probably the same last year.

So can anyone tell me what the balance of about $8M was used for last year, as I thought that everything being done was on free carry up to now, with about $2M left in that pot.

Thanks Longknife. Most appreciated.

I will be keeping an eye on FOG and should a decent opportunity arise I will buy back in.

There is too much uncertainty as to what will happen or which way it will go at the moment.

There is no gas to forward sell. Only the prospect of gas in a couple of years, and with all the financing needed and the potential political hurdles that might be encountered I don't see any hope of that option.

As for raising money through a placement. I doubt anyone would be interested other than Mr. Sheffield. But why should he buy more FOG when an easier option to increase his footprint would be for TAM/ Daley partners to increase their share of the JV by offering a farm down free carry on the next two or three wells to FOG. They don't need to raise additional capital as they have already raised enough funds to proceed without FOG. But FOG is worthless if it fails to follow through to the start of pilot production, and they know that.

The 22.5% that FOG currently has will fall to 17.5% or even 15% of the JV. Hence the big fall in share price AGAIN.

I am very disappointed.

I bought in at 8p two years ago; it went to about 11p and then the AH2 fiasco came upon us. I managed to sell out at a small loss at 7.9p

I bought back in at 6.5p last August, fully expecting to get 15p on the good results just announced. They went to 13.4p but immediately fell back having failed to achieve my target. I even put a sell order on at 13.3p in the hope it would recover yesterday, to no avail.

So, it looks bad now. Massive dilution in any event.

So, I have sold at 10.1p just now for a 50% profit in over 6 months. That will do.

Willow is not far wrong. Only one winner in this company.

A good point he makes too. Why does POQ have such a paltry shareholding if he has had faith in the company?

Good luck to those who still live in hope though.

Looks like a decent flare to me; so by my reckoning it has been going for around 3 weeks and we should have the 30 day test results next week some time.

The rise in the share price is less than I expected at this stage, but that is probably due to the generally weak stockmarkets. I still think it will get to 15p shortly, at which point I will sell my holding in the hope of buying back in later.

When it reaches this level there will likely be a capital raising at a discount and then the price will drift back as it did last time.

You people do go on speculating about every little detail.

There is a massive flare. The flowback pond shown in December was at first clean, but was full on the second satellite shot. There was a hint of a flare and clearly the flow back and clean-up was really fast. We missed the clean-up flare during the satellite dead time.

The well was shut in to build up pressure for the 30 day flow t3st which has now begun.

Good!

So I co e back to my original point. The shares will rise tomorrow. Hopefully in a few days or so to 15p UK at which point I will sell.

Reason! FOG needs money to stay in the game. Dilution at a cut price.

Or sell down more by farming out again to our loss.

Falcon needs money to participate in the joint venture.

It will cost a fortune to raise it from existing small share holders.

So the only real option is to farm more down to the current big boys, TAM/Daley, for a couple more free carries on the next wells Tam have planned. That's why the share price has fallen.

Only an opinion.