Member Info for gordon1237

No problem buying or selling 10 million.

I guess at that time they were hoping to avoid it Ssccss. Probably, like me, expecting Selan to get their ar*ses into gear a bit quicker.

GW. Yes I am tempted but then I think of all the other times it seemed like a bargain. I remember when it dropped below 1p (yes 1p) and people said get in quick you won't see this price again. How right they were but not in s good way. Lol.

Sorry, misread the rns. It's only the warrant that's free. They will have to pay 0.1 when they are exercised.

Assuming the sp reaches 0.10 at some point, the warrants will be exercised and participants in the raise wiil effectively be getting shares at half price,

0.0025p. Probably the only way they could get it off the ground.

Ssccss. Must admit I am tempted. I have 20 million at 0.135. If I bought 10 million at 0.05 that gets me down to 0.107. Would still need to more than double to break even.

Goldwish. If actually stating facts makes me a " know all" annoys you, so be it.

Selan D0 know exactly where to drill the new wells , there is an extensive seismographic survey plus all thr data from previous wells. Also it has been stated that the first few wells will be drilled from the existing c77h platform.

You are however, right about one thing. Any knowledge I might have has done me little good and I am well underwater with an average of 0.135. I bitterly regret not getting out when I could have in the mid 0.1's . It's tempting to buy more at 0.05, but then I remember think the same early this year when I doubled my holding in the 0.07s and 0.08s.

Goldwish. You obviously know little about this share. Firstly, Selan don't need to find anything. They know exactly where to drill. Secondly, its mostly gas they are exploiting with a nice bonus of condensate. Thirdly, it's a PSC ( production sharing contract ), so they get 50% of any revenues from gas and condensate sales. Wouldn't be much point in the free carry otherwise.

Down 26% in 10 minutes, so pretty much in line with yhe dilution.

Crusty. Ditto. I am certainly kicking myself. Wasn't expecting a further,including the options, 27% dilution. When the options are exercised that means the number of shares will have almost trebled under Roland. Shareholder value my ar*e.

A bit earlier than expected. Worse than expected.

When those warrants are exercised it comes to to something like 27% dilution.

Do they really have to rub it in with " very pleased to announce ". Thanks a bunch Roland.

Wouldn't be any point Ssccss. He couldn't comment on a price sensitive matter like that. He is currently ignoring my emails on another subject.

Goldwish. Don't be ridiculous. Nobody has doubled their money. The price of 0.0947 was the average sp from August to October. It was used to calculate the number of shares allocated to the directors based on the cash awards they were given. Roland for example was awarded £110k which at an sp of 0.0947 gives him options to 116 million shares. In fact he would have done far better if it was based on the current price of 0.0675. That would be 162 million shares.

The options haven't been exercised yet. There would have to be an rns giving the increased number of shares.

VF. Yes we do have some production. Unfortunately it is running at a loss. The figures are in the annual report.

As you say we should see an increase in the next few months. I was hoping that would be soon enough and big enough to stave off the need for a raise. Looks unlikely now. If all goes to plan with the new wells we can hope things will be a lot rosier this time next year.

Four quid in my local and I can walk (stagger ) home. Lol.

It's always amusing when someone uses a metaphor then says literally. Someone once said to me that the pub was literally like a morgue last night. Looked baffled when I asked how many dead bodies were there.

Spot on Crusty. I nearly said that. Unfortunately, the market, and more importantly Institutional Investors are unconvinced by that forecast. Let's hope that changes when the new wells come on stream next year.

I thought the Panmure forecast was 0.93p not cents.

Noy too sure about that Goldwish. Don't know how much Lloyd's made out of PPI but they paid out £22 billion in compensation.

Yes Callum. By far my biggest holding. You couldn't make it up. Just as they were starting to look good at last, yet another mis-selling scandal.

I first bought in the early 2000's.

Since then they've been hit by the financial crisis,

PPI mi's-selling, Brexit, Covid and now this.