Member Info for K3VMC

As soon as I was released from being inside, I tried to explain the situation to everyone.

The MBU shares went to HNWIs. That’s it. The end. No dilution.

So buying at 20p today was like buying at 24p yesterday, but 20% cheaper. Why Don’t people want to buy when it’s cheap!

Oldman45

“ A few buys going through in the last hour which has forced the price up a bit. About time - thank God ! Fingers crossed for an RNS soon.”

Don’t get excited! That was only me and I’m known for messing up!

Corryvreckan1

“ K3VMC – you didn’t receive your 3.1p from Hurricane though, only from your Broker.”

Yes. HUR has no access to my account.

“And they reversed it so looks like they may have realised that no money was forthcoming from Hurricane at that time and they had possibly just misinterpreted previous RNS?”

It’s not my brokers job to interpret any RNS. Why would they? And why would they put their own money in my account?

As I posted earlier, the last notification I can see is the appointment of Scott. Would you please post the URLof the Capital Reduction? I’d like to see how I’m getting that wrong, which I obviously am! :-)

BearDozer

“ How do you know the seller has cleared?”

70m shares traded. 20% of the company. If you are thinking of the seller being MBU, the the seller has definitely gone. I bought from the seller, but I’m a holder. I think a lot of flippers are now out.

Fact remains, you can buy 4p cheaper than yesterday, with no more shares issued. I’m considering buying more now!

Corryvreckan1

This is the latest entry that I can find at company’s house.

“ 11 Nov 2022 Appointment of Mr Douglas Stewart Scott as a director on 11 November 2022“

Maybe I’m looking in the wrong place. I certainly expected it to be there after my call to HUR on Friday.

Rak0328

“ Well, I still don't know if today is good or bad (20% drop is certainly unexpected) for next few weeks but let’s wait and see.”

This was not a placing. It was one large holding that was broken off and sold to other, smaller holders. Basically, retail PIs bought from a wholesaler at a 25% discount. Because the market was uninformed until after the event, other PIs had the chance to buy in at about 19p.

The smart money that went in at 19p is now in profit. If you didn’t buy or can’t buy now, then you have missed an excellent opportunity, but the sp should quickly get back to 24/25p, as there has been NO DILUTION!!

There will be some flipping on the way up, but most of the buyers today will be holding on for dividends, as before, but with higher yields.

Ok now?

Corryvreckan1

“ But not yet, pending completion of the FSP one way or another. Same as it ever was…”

I received 3.1p per share last week. Then it was reversed. That was before the reorganisation of capital was registered at companies house.

muldoon96

“ So, for the dummies like me who hold here,is MBU selling a good thing ?”

Good, IMHO.

JohnHenry

“ KV3MC thats doesnt compute as there was nearly 40M shares went through at 18p”

Maybe they passed through the broker to the client at the same price? Just a guess. All I know is, I bought the 18p from my broker.

ART123

“ Oh, so the sell by MBU was 22,222,222 at 17.10p and these were all bought at 18p. Is that correct?”

100%

ART123

“ Okay. Can anyone make a rough calculation of the sells today at 18p and 17.10p - I don't have live prices - minus the cancelled trades. I reckon it must be around 50 million.”

The 17.1p trade is the MBU sale. The 18p trades are the counterparties to the 17.1p trade.

Rak0328

I bought them. I’m now cleansed.

Padd1

“ If MBU wanted to sell to institutional investors I don't think it would have been such an apparently chaotic sale. “

If they had approached multiple IIs, news would have leaked and the sp would have fallen lower.

“I'm sure we'll find out in the next few days.”

I think we will get a TR1 from MBU and nothing more. I may be wrong, but Mose of the holdings went to retail, as I understand it.

They were always going to sell at some point. This has got it out of the way.

Most of their holding sold to HNWI.

viticoltore

“ On the downside there's the risk of covenant breach and/or equity dilution, whilst on the upside there may be some NAV in these fields (and any other assets/licences) the company owns. But the uncertainty is huge. I don't know how regularly the covenants are tested, and what they actually relate to, but IOG will need to start communicating on financial sustainability issues as well as operational updates.”

So you don’t know what covenants are in place, or when they might possibly breach them, but you worry about them, even with CALEnergy as a partner and £25m unrestricted cash at the end of 2022?

Cash = mcap.

Poole122

Ok. Thanks. I didn’t fancy it before, but this raise looks like the last placing to me.

*not to make you rich.

Legalwolf

“ So yes, plenty to be cheerful about the progress being made by this company under this BOD.”

I repeat. This is AIM. AIM is designed to provide capital for developing companies, NOT to May you rich. There will be placings until the company makes money, or it folds.

Last money in is the smartest money in, but until that happens, you have to trade the dips.

This morning was a dip. If you can’t buy it, then you have to sell, or wait for your day to arrive.

LOAM had 42m shares left on January 18th. 60m shares bought today.

That could account for most of the selling pressure today.

badprophet

“ //Now all speculation with placing gone also//

THIS placing gone - what about the next one?”

What next placing?

If you want to avoid placings, best not invest in AIM, which is designed to raise finance. The other thing to do, is to buy in fractionally above the placing, in this case 2.6p, then sell for 11%+ profit, at 2.9p.