Member Info for investor33

Not sure if there has ever been an RNS release on a Friday before. Have we ever had an after market one ?

With a bank holiday this Monday, I'm not sure how people are going to be able to submit meaningful questions before the 26th deadline when operationally so much is in the air...

Re the raise last year - the thing is that the first payment from PC came in mid June, with 30% withheld. The raise was announced on 10th July, however clearly the forward selling agreement must have been agreed and signed well before this date. In other words, the shares were forward sold very likely well before PC finally stumped up.

Bear in mind that at that point the company had two sets of salaries to pay, plus the overheads incurred for keeping H1 running. So whoever the shares were forward sold to possessed all the cards to demand a really low price for those shares. I don't think that the company probably had much choice but to accept, as PC might have carried on delaying their payment.

Gadgie ; Thursday tends to be the preferred day of the week for an RNS. I think it's likely to be tomorrow.

Abzzba ; I just don't want to see any further raises at something like a 66% discount to the high of the year.

Abzzba ; all that going alone scenario would only be of any value to shareholders if they don't go and do another raise, given that the last one @ 0.8p was some 66% lower than the 2025 high of 2.45p. We then went down to 0.65p soon after that raise.

Right now, a year on from that May 2025 high, the share price is only slightly more than 50% what it was back then - such is the impact of a raise at effectively junk status.

Abzzba ; all that going alone scenario would only be of any value to shareholders if they don't go and do another raise, given that the last one @ 0.8p was some 66% lower than the 2025 high of 2.45p. We then went down to 0.65p soon after that raise.

Right now, a year on from that May 2025 high, the share price is only slightly more than 50% what it was back then - such is the impact of a raise at effectively junk status.

Ten ; I personally think that Master is genuine.

He's been here a long time, and up until production started was generally very optimistic - maybe at times during the exploration phase too much so. He predicted 15p on the third well.

If he holds that number of shares at an average of 4p, then clearly the pressure has just got to him, and I'm sympathetic about that. That last raise was brutal, at around 70% below the high of 2025. Same goes for Hamm I suspect.

"You either have conviction or you don’t. Both positions are fine. But this isn’t an agony aunty column. Time to take responsibility, man up and cut your losses or double down and buy more. "

Or alternatively, just hold on to what you have, and hope that the share price eventually hits your average, or close to it. And then evaluate from there.

Sometimes averaging down works - sometimes it's like trying to catch a falling knife. Just depends.

Ten ; Master has stated before that his average is 4p.

Let's hope so Gadgie.

You've been holding a long time - do you want to mention how many shares you own ? No worries if you don't want to say.

Abzzba ; I admire the fact that you are intent on holding long term, and are not going to get out at either break even, or - for those with low averages - to sell up with a decent profit at around 4 or 5p or so, like so many on here seem to be talking about. Somehow I don't get the impression that many are holding for dividends on here.

That's one problem with very low raises like we had last year - it creates a flood of people who bought in at 1p or lower who would be very happy with say 4 or 5p. So it reduces the count of shareholders with very sticky hands. the raise last year was about 70% below the high of the year - which still seems incredible to me.

Some have been holding for so long already that they have just had enough I guess. I can't really blame them if they started buying in say 2011, as one or two have claimed.

Jan 2023 I meant - not 2012.

1 million quid put into Rolls Royce in Jan 2012 would have been worth around £13m at the recent peak - just saying.

If true, I can't imagine why anyone would put so much money into an AIM microcap which at the time presumably had no income, and could only finance itself through frequent raises. And with a high risk of going bust if it didn't start earning income soon.

Ten ; check out in particular comments that were made about the company at around the time of last July's raise.

Ten ; yes, that's who I meant. He was posting on THX until quite recently.

Ten ; I hope your complaint included that guy who was banned earlier in the year ? Not Dusty - the other one.

Abzzba ; exactly.

If anything, the lack of activity is probably one of the biggest clues that a farm out is being signed.

Hamm ; re why they may not have started yet - I think you have been told many times now that this may be because a farm out is being concluded, and hence there is no need for them to spend more money for the time being.

Which part of that can't you grasp ?

And all of those 4 things are low cost.

I can't see why a raise would be necessary to carry them all out - especially given our increased revenue situation.

If Gobi and H2 did become productive, and no farm out happened, then if the price of oil stays high, the worst that can happen IMO is that the company accumulates a decent pot over next winter ready to crack on with more drills next spring.

Plus there may be significant income coming in from the 200 MW project later this year as well. H1 and 2, Gazelle 1 and Gobi 1 plus a lump sum from the 200 MW project would mean a big war chest for next year if no farm out happens. And a raise wouldn't be needed presumably.

There are 4 things that might be carried out if no farm out were announced this year. That's as per the investor presentation slides.