RE: Have the lights gone out yet ?31 Jul 2019 20:24
gkb, I'm a cynical bugger and curse the fact that I got this one wrong time and time again. Only myself to blame as I researched this to to the last letter and full stop. Continuously. Star, I feel your pain buddy.
Anyway, I asked the question 'have the lights gone out yet?' and it would appear not. Strangely enough there have been 7, yes, seven trades today. On wards and upwards perhaps and on a different note it's good to have a debate without anyone getting yappy like they do on some other boards.
RE: Have the lights gone out yet ?31 Jul 2019 14:41
gkb, it was good to see that the directors actually put some of there own cash in here but it is slightly diluted as they will get it back through self awarded payments come the end of the year. In your post you have quoted the RNS release at the time of the Colter results. The point that I make is the wording of that RNS is no longer found in the main pages of any of the companies web sites. You only see it when reading that original RNS. Strange ? Also Malcolm Butler has his fingers in many pies. My comment regarding him using BOIL to hold up or fund other projects remains valid. IMHO. We've certainly waited long enough for the master plan at Colter to be revealed and when it is lets hope that the plan brings an increase in sp.
RE: Have the lights gone out yet ?31 Jul 2019 00:08
I'm not convinced about Colter. Remember when the news of the side track result was announced there was terminology similar to 'the partners will now evaluate the best way to progress this commercially viable find'. Something like that but you get my drift. If you now look at Reabold, Corallion and Baron you won't find that terminology now. It has been replaced with 'The data from these well results and existing data will be incorporated to determine the best forward plan.' Believe me I would love for this to come good, I have invested a six figure sum into this and it pains me to say that I've written it off. Been here for 12 years now seen the herd come and go (several times), seen the cycle of ramp and deramp, seen PI's being chased by very expensive barristers and sued by former directors, seen a board revolt, seen suspension, seen a change of company name, seen CEO's come and go and I often think .......... WTF am I doing ???
RE: Have the lights gone out yet ?30 Jul 2019 17:41
That's the point GKB. They have all of these projects but none of them are being progressed. The only way to short term survival as I see it is to get Colter quantified and sell it or for a farm in partner to XX1 who will cover the cost of drilling and we hit a substantial find. Everything else will need money thrown at it and we don't have any. Hate to say it but on reflection the board have used this company to support their interests in other companies that they hold positions in.
This was always gonna happen. A placing to fund the developments at Colter is the only way forward but to what extent? I guess you could be happy that the directors are finally in but it's a safe bet for them. They will get this back in their over generous pay packets. So how close are we to news of developments? According to AIM rules directors can't deal if they have knowledge of price sensitive information or are in a closed period !!!
The last RNS said that the remapping of the Colter field and an update on estimated resources would be expected at the end of April. Let's hope it's good news but even so, good news seems to send this company's sp down !!
The rig has been static off Whitby for approx 24hrs. The Esvagt safety vessel has steamed past it but is now heading back to where the rig is static. Any ideas other than there is a brilliant chippy in Whitby ?