Member Info for jazzyjim

I think everyone here will be long gone before it reaches 30p anyway (if it ever does). If it ever gets to 10p you won't see me for dust!

@FastFood Strangely I find myself agreeing with you for a change. Namely your comment on Blackstout and the 5bn barrels OIP. Yes he is as crazy as a bag of frogs with his valuation but even a more sane estimate for OIP and recovery gives a valuation well north of here.

FF "And Hive Podcast agreed with me re No JV is going to pay our debt off"

We have no idea what the potential deal might be so can only speculate. So let's do that. What exactly do you think they will pay?

Well Fastfood Anavio will know a lot more about the GGs and forward production plans and possibly the JV negotiations so if they are willing to take greater ownership at this point what does that tell you.

Unfortunately we appear to be be in the business of generating more and more shares at the moment. Still maybe our new deaf mute CEO will give us some production insights soon then the price of oil may be more relevant

Trans, I don't think the number of shares will even be a point of discussion. The asset will be valued by OIP, projected recovery rates etc. At 50p per barrel OIP that would be 500mill. At 10% recovery it would be about 400mill. Take away the debt and it gives a good rough valuation. Work out the share price and decide if it is a good idea to buy at 3p

"£100M for a 35% stake + 10 new drills."

duster, I hope you are right. I reckon that would value copl at around 30p per share

"Acquiring CUDA WI much earlier than anticipated (not easy given the companies status at that time)

Box ticked. (That is what nearly killed us)"

What was the real cost of this to shareholders though. Was the dilution to date and to come worth it?

@Stas20 If they payed $500 mill in 2018 I am sure they spent some money on it and we are talking an investment fund here so would be looking a high return on investment like this at the riskier end of the spectrum. Can't see them valuing this 112000 acres alone at less than $750 mill. Were there any reserves or verified OIP figures attached to this in 2018?

Oh and is the Northwoods CEO now at a loose end. We could use a competent CEO here

Where exactly are these whispers through the grapevine coming from? After a month I expect some comment from the company rather than relying on whispers

"That’s right Shaa but the other difference is you’ve been here for years, I recall even pre consolidation, whilst others were over making 500-1000% on ITS last week"

Maybe you can tell us where we can make 500% this week Captain Hindsight. Telling us about last week is useless

"PS: While I'm fortunate to be - currently at least - nicely back in profit here, all is far from forgiven Del Millholland and Rodney Gaffney."

Yeah, Rodney Gaffney what a complete waste of space. Would have done better with Dean Gaffney of 'Rickeeeey' fame

Bondholders have also done very well given that they were still making a good profit selling at 1.5p, not to mention the shorting opportunity on top. The BOD have done very well too given their massive pay for total failure.

@Devilbhoy

It is a Letter of Intent actually so looks like you struggle with basic English too!

But yes they can still walk away at any time for sure

"for the record i consider the ceo and the cfo to be financially incompetent."

no **** sherlock!

"Come on Art do something about this $h1t show."

He did do something about it - caused it. You should have voted him out when you had the chance. That mess of an RNS a few months ago, terrible bond financing, a sp 90% down in 6 months, RBL so positive about not mentioned again, JV in January again not done in June. So many reasons he should be sacked. We even had someone on here with 20 million shares proud that he voted for all resolutions. Where is the half wit now?

EarlOfAim

Attempting a one man pump and dump. Good luck with that

Yes I think £1 is way off the mark as well. The question is what would it be if they were producing 5000+ per day.

Thanks Shouston

Nice to see how reality has stacked up against the fantasy being spouted by the snake oil salesmen in suits. A year of complete failure I would surmise. Deserves a big pay increase I reckon.

"Art is either a genius about to pull off a fantastic coup with a blow the doors off JV or a delusional financially incontinent fool"

Well I assume you were around a few months ago when they failed to secure finances in good time and caused a panic that the company would go bankrupt. The share price then crashed and at the last minute they secured a rubbish deal where bonds can now be converted at 5p. So I would be tending towards the incompetent fool! For that disaster alone he should be removed although there are plenty of other reasons too.