Member Info for investor33

Welcome back Thorno. What are your thoughts on the raise ?

Hamm - MB has 20m shares....15m of them at 2p or over..

Doc may be that guy on ADVFN with the ID " indiangod " He attacks the company nom stop on there. I thought I might have seen some kind of reference to doc on another board on here being of that nationality or similar.

Hamm - I presume that they just sold at market price before the price corrected to the raise price. Easy money in that case.

Wondering if that fall from the late May high of 2.3p down to 1.1p or 1.2p just prior to the raise was a result of forward selling ? In which case the forward sellers made an absolute mint, and the raise was already decided in May sometime most likely.

* was say three banker wells.

Hamm - the real problem for this company over the last few years has been that blasted corrupt governor.

What the company needed as a stable base was saying three "banker wells " around where H1 is now. If the governor had played ball then this could have started in 2021.

Instead, with the 3 year delay the company had no choice except to raise and go for wildcats.What else could they do other than twiddle their thumbs ? Gobi, Gazelle and Velo will have cost a total of 4.5m in drilling costs, which is funding which should have been deployed for those 3 banker wells.

MB will be around £110k underwater with his 15m shares held prior to the raise, assuming that his average was around 2.5p. More if his average was higher. Offset a little bit by him averaging down.

TenBag : you keep very quiet about it, but how many shares do you hold and at what average ?

It's just that you make it sound that you have made all the right calls when buying in.

TenBag ; can you tell me what motive there can ever be to buy shares except greed ? People don't buy shares in a company because they have an undying love and devotion towards that company...

TenBag ; maybe if some are underwater by say 80% then if they sold up now then there might be very little cash available to even think about " opportunity cost. " If Master is genuine ( which I think he is ) then at 4p with a lot of shares he would be a good example of this very likely.

It's like when people say you should just average down to improve things - what if someone has no cash left to average down ?

TenBag ; maybe is some are underwater by say 80% then if they sold up now then there might be very little cash available to even think about " opportunity cost. " If Master is genuine ( which I think he is ) then at 4p with a lot of shares he would be a good example of this very likely.

It's like when people say you should just average down to improve things - what if someone has no cash left to average down ?

TenBag ; all I have questioned re the management are two things ;

- Why didn't Petrovis increase its share of the company at a decent market price which was available only 6 weeks ago ? Why give away 20% of the company and take something like a $2m hit on its existing shares through raising at a market low with a 33% discount on top ?

- Or, alternatively, why didn't they raise at something near the high of the year at a much higher price - say 1.5p when the share price was recently 2.3p in late May. Why wait for a low of the year and then give a 33% discount off that ?

Under IOM company law the directors have a fiduciary duty to their shareholders - same as UK company lw. I fail to see how they were discharging that responsibility with the timing of this raise when other opportunities to do so were far more attractive and far less punitive to existing shareholders.

* highly successful scalp traders who you don't know.

Sorry TenBag,but I've never had the impression that you know much about the stockmarket. For example ;

- Making derogatory remarks about highly scalp traders who you don't know. And even though almost certainly you know nothing about what scalp trading of microcaps involves. One particular guy who is well known on YouTube has averaged $1m of trading profit over the last few months.

- Telling people that you should only ever stick your money in and hold with all shares - presumably whether micro, mid and large caps. And then making comparisons with well known US large caps in their early days. And making out that nearly all traders lose money, even though you have that guy on here who said he has traded MATD 19 times and come out on top in all of them. The longer you are exposed with micro caps the more risk you take - that's why many people just trade them, so as to manage their risk.

- Labelling people as " traders " in a kind of derogatory way, even though momentum and swing trading is a completely normal and accepted way of approaching stockmarket investment. And it has the huge advantage of limiting exposure and therefore risk.

- Telling bagholders to sell up if they dislike the management or the company. A loss isn't a loss until it's crystalised - I gave you that Direct Line example.

I don't know what your profession is or was - but it can't be as a professional investor, because I'm sorry, but some of the things you have said are incredibly simplistic, and constitute really bad advice. And you seem to think that micro cap strategy can be compared to mid and large caps, even though micro caps are a specialisation entirely of their own.

-

TenBag ; sorry, but that's nonsense.

I had good divis from Direct line for many years, but then the management of the time got a load of decisions wrong and the share price plummeted. I was hacked off with the company, but nevertheless I held on to my shares, and when a buyout happened it got me back to breakeven again. If I had taken your advice and sold up at the bottom - even though I was p****d off with the mess the CEO at the time had made of things then I would have lost quite a few thousands of pounds.

TenBag ; there's no point in telling people who have been LTHs on higher averages to sell up. What you are effectively saying is " if you don't like the company then crystalise an enormous loss from it. " If someone's that much underwater then they may as well hold on to try and get most or all of it back.

If the share price were say 4p then it would make sense to say to someone like Master " if you don't like it then sell up. "

Most LTHs are probably bag holders now thanks to the spectacular share price fall from 5.3p in early June 2024 to 0.75p today.

An investor Q & A session IS IMPERATIVE NOW.

So many questions, so little communication from this company.

TenBag ; there's more to being a viable company than just being debt free....

My worry now is that a significant no of the existing LTHs will get disillusioned and bail out. Their shares will then be snapped up by newcomers or previous shareholders who sold up ages ago, at well below 1p. In other words a transfer of the company from mainly LTHs to newcomers. If 1.5b shares are in private hands ( the rest with Petrovis and the MMs ) then at an average of 1m shares each that's still only about 1,500 PIs. So a transfer doesn't take much doing.

Then a desultory hostile takeover offer comes in, and the majority of shareholders who now hold at sub 1p will vote in favour. They will still do very well out of it if the offer is say 2.5p or 3p. That's why Petrovis should have increased their share of the company and thereby supported the share price and the mcap.

If Buck got this wrong then he has to go.