Member Info for ismalia

But how can we be worth £220m?

Trying to ork out how much cash will be in the Bank at the end of the day. Any ideas?

Wishbone seems to be OK though

Perhaps we will be allowed to increase production to 700bls per day in order to have more home grown oil thus keeping imports and the carbon footprint down.

I have not heard but I would imagine that the BOD are, or should be divesting the building assets, and raising cash to pay down debt to clean up the Balance Sheet in order to refocus on an acquisition which I am convinced is already lined up. Unfortunately CJ and the armchair builders have failed to progress the business as they had hoped for whatever reason. But, I am a fan of CJ and am sure he will be supportive on the financial front and will want any new business to succeed.

I have not heard but I would imagine that the BOD are, or should be divesting the building assets, and raising cash to pay down debt to clean up the Balance Sheet in order to refocus on an acquisition which I am convinced is already lined up. Unfortunately CJ and the armchair builders have failed to progress the business as they had hoped for whatever reason. But, I am a fan of CJ and am sure he will be supportive on the financial front and will want any new business to succeed.

At the moment we do not have any income to cover our G&A and it would be helpful if we could use some paper to buy an income producing operation to cover these. This in turn would stave off any fund raises and would assist in retaining the value we have in the ground and ensure there is no fire sale.

90p is a large number for most of us and following a number of raises over the years the average sp would have been dragged down some what. But the worm is turning into our favour now with a major industry shareholder on board, the benefit of past investment and a more stable oil price
Importantly for me we have PL and he has 100pc commitment. I feel we can move to a sp of more than 10p by the end of this year as the numbers flow through. We are highly operationally geared and with increasing production at today's oil price there should be high numbers hitting the bottom line.

Certainly looks as if something is going on for what is a very small stock.

I feel we continue to be much undervalued by the market given the portfolio of prospects we have. What we need now is a couple of field updates.

I am a little suprised that many seem to know there will always be fund raises, thus dilution, and continue to moan about it. Why do such investors continue to hold?

Only good news to come IMO. Wressle in the very short term followed by WN and Biscathorpe. Once we get an oil flow at Wressle we should get an uplift in the sp which I expect should put us a higher trading range. 0.20p - 0.25p

I have been a holder for some time and it is now becoming more interesting. There continues to be limited interest and I wonder how the shares could perform once there is more awareness

Any thoughts on how the market will react post 8th March?

There could be plenty wanting to sell at 2p if they only paid 0.6p

I hope you guys are right for the sake of those still invested. But you will need to remember that there will be £2m in the Bank with a mc of about £9m at 2p. If investors think 4p then the mc will be some £18m, and I am not sure that I would want to put new money into such an investment.
Let's see how the meeting goes and what the BOD intend to do with the £2m and any further shares they intend to offer for any acquisition. I was in the pre Nakama days for years and was appalled at the way the new management destroyed the old company.

I suspect that the market will be unable to deliver stock to those who were sucked in to buy until the AGM agrees to the placing, and when they are delivered there could be a fair bit of selling which may push the sp closer to the placing price. I am no longer invested here but this is the way I see it looking from the outside.

Not life changing then and continues to hold for recovery rather than taking the cash off the table and reinvesting elsewhere. Being a stale Bull or not wanting to sell until you get your money back is not the way to progress value IMO.

Totally agree, an incredible appointment and one which may suggest a bit of a conflict of interest on the part of the appointee so he would have given the matter a lot of thought, and he will no doubt know our Chairman well. If you trawl back on earlier interviews/videos there has always been the hint that our prospect next to Greatland is huge and should not be underestimated. I think we can expect some very positive news in the coming weeks.

It appears that there are those on this board who really should not be anywhere near the stock market. Unless you know how the market works stay away, don't simply gamble and hope for the best. It can be like jumping into a swimming pool knowing you cannot swim and expecting others to pull you out. Learn to loose gracefully, admit you get it wrong sometimes, and if you cannot then go away or simply don't keep moaning - it's only money that you said you could afford to loose.