Member Info for gregpeck7

You will as it’s a tradable company. But not cheaper lol.

Yes miraculously it does appear production is rising slightly. Another well will surely be announced quite soon. Just chuffed for shareholders here.

Remember very soon off this one well the company could be seeing revenues of 1 million dollars. A day!

They are basically now a cash machine. Incredible turnaround been performed here. Water cut ever so slightly increasing it so is the amount of oil they are producing . Really incredible tbh. The cash being set aside is almost completely covered off by hard rebates!

Maris has to do what he’s doing to try and make himself look slightly less of an absolute idiot for his previous shareholder robbery attempt.

5 mines in 2 years? Was that not the promise! Been suspended almost a year now and cannot even get 1… carnage when this relists imo. And looking at the latest accounts. Not a lot of cash and that will be even lower now.

So this company has been pulled back from 10 million plus loss per year to what looks like 2022 being the year of breakeven… maybe small profit. Over half the mkt cap is covered by cash.. great brand and a great business. The city will now understand they are not getting in cheap here. If they want a piece of the action they are going to need to buy some shares. All looks good to me and the strategy is spot on. Very exciting 2022 .

I’ll put it out there. Lets see who is right. This goes below 0.4 tomorrow. This sorry excuse for a share is being found out.

Must admit you guys do make me laugh! Maybe, judging by some of these replies I can see why you are echo ‘investors’ … a perfect fit!

It’s greg. Grep is a unix command. :-)

Sorry Arahim this is simply not investable. It’s similar to throwing money down the toilet and flushing it.

But the results of pushing the debt back (which will then be even bigger) will be paid for with warrants - which will be dumped (remember they actually shorted the company last time they were so desperate to get out ASAP) ..

So more dilution, more shares, more debt... I get it..

But why would you as an equity investor buy in? There is nothing here for you!?

Seriously guys, get out with what you can and put your cash somewhere else.. This is not being run for you lot. They will literally take you to the cleaners IMO.

So tell me, lets go with the low number, wheres the 27 million coming from?

· Successful completion of the restructuring of both the Company's EUR 20.0m 8.0% secured notes and the Company's EUR 5.0m 8.0% secured convertible debt facility loan.

So this is the coupon.... Now my understanding is no interest is paid annually (please correct if wrong) it is simply accrued and then paid in totality at the end....

so this 20m (lets do it over 5 years)

So based on 5 years compound interest at 8% coupon

29,796,914.17

And 4 years

27,513,322.01

So that's pretty hefty!!!

So actually worse than I thought... Happy to be corrected on the bond structure.

I have not checked on the exact dates, but I have followed this company and I have not seen much progress since the capital issue was sorted... Only massive dilution of shareholders.

And answer this ARAHIM.

If the CEO is so confident and this is such a great strategy.. Why did he not, and why does he continue to not purchase any equity?

The share price is on the proverbial floor and still he just issues more and more shares and warrants and declines to buy any himself.. He is very well paid and he should have skin in the game...

I am surprised they have put cash into the solar project.. But I dont know exactly who owns the bonds at this moment - do the bank? They may be happy to chuck the cash in as they may then think, well we will own the whole company in a few years and we like the look of this project.

That solar journey is a drain, they wont see any returns for 2 years, and even then, at the scale they are operating it will not be material.. They should be drilling like mad! Not looking at renewables

3 years is only 36 months.. You can sleepwalk into this if you like, but thats over 500,000 clear profit a month needed between now and then to see this debt paid.. Otherwise, the bond holders take over...

Based on the last year since they got the refinance, do you honestly see a lot of progress?

Thats chicken feed and you know it!

They need 20 million! They have about 2 years to get that 20 million.. So 10 million profit after all taxes and costs? in a year... You can honestly see that coming echo's way.. I honestly thought when they did the refinance they were going to up their game and it would be a different story, but it is not.. Its not a viable operation as it stands. I am sure if the debt did not exist they would be a profit making entity, but it does and they simply do not make anything like the returns needed to pay it back... TBH I am stunned they got the equity away at 0.46!

Serious Question ARahim

Where is all this cash then?

If they are doing "so well"???

They need 20 million pretty soon - and it looks like they have under 1 million....

Im not trying to be horrible here, I just think the writing is on the wall.... For me this company will be owned by the debt holders sooner rather than later....

Why? Because the workovers are going so well? Next set of numbers will be really telling... Proper numbers not BS numbers echo spits out with its operational updates.. its going to be nasty.