Member Info for January24

Lol,

Putin meeting with Kim Jung Un to buy some world leading high tech North Korean weapons (fireworks).

My my Russia is desperate !

Putin needs to keep his receipt as most of them will be faulty.

Stumpy,

I also have holding for what seems like forever!

However Buffet was wrong on that one -

We can't hold forever because we don't live forever.

I think you quoted Buffet wrong anyway. What he actually said was "hold until the 60p Party , which will feel like you're holding forever!

Mmm Power,

I am heavily invested in the oil sector and know it well. Fact Russian oil exports fell in July to their lowest since November 2022. Profits from exported oil and gas is being used to fund the war. What a damn shame, as this money could have been used to improve the quality of life of the Russian people.

As for stealing 20% of Ukraine's land. They are sitting in it. Like squatters, however they can't do anything with it as they are under fire. Squatters don't own the land, they have temporary possession. What horrendous cost to Russia both financially and in lost lives.

Power, let's look at the politics. The west will NOT let Russia win. Putin knows this. For America this is a great opportunity to weaken Russia and send a warning to China regarding Taiwan. The Russia army has lost a third of it's military hardware. Just look at how many tanks they had before the war compared to the numbers now. Money well spent for America.

When you have to buy military equipment from Iran and North Korea then you know that you're the laughing stock of the world.

Power,

Here's the problem for Russia. It is Economic, and it will cost the Russian people dearly. It will put Russia back decades.

Ukraine has it's military equipment given to it by other countries. The financial cost is minimal and the world will pay for Ukraine to be rebuilt.

Russia is spending all its financial reserves on funding this war. No one else is paying for its weapons or military equipment. The cost of every bullet will be paid for by the Russian people in their taxes. You don't realise how huge this cost is, and how much it is destroying the Russian economy. Mark my words it will put Russian back decades.

A stupid war that costs both countries dearly.

Historically Putin talked up Russia into one of the world's Top Countries for both it's Economy and Military Capabilities.

Sadly for the Russian people, his decision to attack Ukraine has shown all that talk to be just more of Putin's lies.

Russia is now seen for what it really is - A 2nd division country with a weakening Economy and a corrupt Military that is useless. Indeed the laughing stock of the world.

To prove my point , they just failed a moon landing where days later India showed them how to do it !

The longer this war goes on, the weaker Russia will become.

Hi Pelle,

I hope you and your family are happy and well.

I think you could be right on the debt. My worry is on the production numbers. We know that Kraken coughed and spluttered for a few weeks, so therefore the production is likely to have fallen from the last update. How will the market react to falling production ?

Knowing our luck we will fall, unless the debt is reduced more than expected and or NAV increases by 100m +

All the best,

JAN

Dumbly,

What on earth are you smoking man ?

Cheap -

Based on what Lov ?

A successful multi millionaire businessman (who is more successful than you ) sells out 12million shares at 1.1p.

Well clearly he thinks they are cheap then ! Lol

I think I would trust his judgement better than yours!

He is likely closer to the business and has more knowledge, but hey how ramp away Lov

Well Laura I can buy at 2p, no problem.

However I don't want to buy because-

As an Investment purchase my problem with the company is at the current cash burn they will be out of cash in circa 6 months , and then what ?

A quick trade to make some cash off the back of "bringing suckers in" raise the SP then sell out ! NAh not my style, but hey you go ahead Laura. Keep ramping and trying to pull in the punters you can sell out for a nice profit. Ramp away Lov.

Agree with you KO,

Holding this share for so long you get numb to the pain as it becomes so regular !

Maybe he will instigate a buyout with his annual salary !

Looks like sellers are coming in, now. 1.87's (day traders taking their profits before the close)

Looks like It's not going over 2p today, and with roughly an hour of trading time left I expect that many of those who purchased this morning will cash out their profits before 4.30pm. Expecting a small dip in the SP from here. IMHO.

Laura forget 2.6p today. I'll guess the close at 1.80p

Cash as at End of 2022 was $4.9m

Cash as at End of June 2023 was $2.5m =

Cash burn $2.4m in the last 6 months. So at that rate of Cash burn they have around 6 months Cash left !

And then what ? Fund raise ?

Something needs to change, either ramp up production or cut costs. Maybe directors should be paid in shares rather than draw high salaries for what is a relatively small company!

Also a problem, IMHO.

ANYONE done the calculation of ;

How long will the cash last at the current production/revenue level ?

I'm not happy.

LoL BTFATH1 ,

That's a loss taken !

Did you take that 9 Iron back to the golf shop for a refund then ?

I give you lots of credit for posting your loss. Well done for your honesty.

JAN

Cheers Troajan,

Nice to see you are still around.

Bumped into you a few times over the years.

Just to add ;

Yes there is some added risk here, as usual with any investment when a country is at war.

However also as usual we have people on this board "overplaying" this risk by making statements that this company has no future. If that's what they believe then I suggest that they "move along to another board where they feel more comfortable investing". No need to try to scare-off investors here, unless they have a different motive ?

I agree with Trojan,

I will repeat his post -

"Zelenski isnt going to kick sand in the LSE face,by seizing an asset,listed on there

that would jeapardise,future inward investment deals"

Seems logical to me ! However you have to make up your own mind.

Flash,

I hope that you and Papa are right.

However you probably don't know AB. Have you ever met him?

He plays his cards close to his chest. My guess is he will wait. Can't see him taking the risk that POO tanks due to a recession and he does not have enough fcf in 2024 to go ahead with shareholder returns. He would then look a Numpty.

I see it in 2024

As previously stated a % of FCF seems to be the way it will be implemented.

50% of fcf would be a good forecast in my book.

Having a stab at it - fcf of 200m could be achievable for 2024.

Giving 100m for shareholder returns.

Maybe 50% dividends and 50% buybacks. Equates to a 3p dividend.

Just my thoughts.

I definitely can't see a silly 1p dividend, not worth the effort, as it will not do anything for our valuation in my view.

Re dividends and buybacks (share holder returns)

The sequence of events has to be -

1) Board agrees policy (in private)

2) Debt ratio of 0.5 is achieved

3) Board announces shareholder returns policy

4) Shareholder returns begin to be distributed

Now (1) could have already been discussed/ agreed at Board level.

(2) at best could be year end 2023, or more likely qtr1 2024 (as per KO post)

(3) good time would be when 2022 results are announced. March/April 2024

(4) my guess is in 2024. Any later is too l9ng a wait.