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Ops is always a guessing game with Casp. Imho Casp is waiting for money from sale of CE before they can do any of this work.
The sensible approach is to concentrate on 142 and 802 and just park everything else for now.
The main thing here is that all the assets are in play and we are only down here because of questionable/suicidal decisions made by the BOD.
I am probably in a minority with this view but I am hoping we get an update on 802 or 142 before they have agreed to the sale of CE.
This BoDs outlook is too optimistic and disregard any risks. Look at the accounts and how they are mitigating the risks - we have access to credit facility and get paid in advance blah blah blah. If they get the CE money I can see them dishing out dividends and spending the money trying to do multiple things at the same time and ending up with nothing completed.
How about take a step back and concentrate on getting 142 back online and 802 and hold off on everything else until these two are completed? I'm certain if they do this then there is no need for additional funds. Also if they leave the sale of CE after we have received money for the first contract and potentially have ENI signed up for another contract - what will be the value of CE then?
142 gives us cash for Exploration and a successful 802 (even at 1k bopd) will take us into unknown share price territory with 2.2 bn shares.
Come on BoD - feckin wake up to what you've got and deliver.
@legalwolf - that is my thinking as well. Eileen has actual skin in the game so can’t see why she would sign up to this unless she is convinced there is positive news coming.
Also the way this has been setup Lanstead will make a profit but need to sell at least half their shares at or above the 20 day average. We have fallen about 50% since the rns. If they are selling they need to keep the price low here otherwise they may not make much profit.
Come on BOd - time to earn your keep.
On the surface the deal isn't great as Lansdowne make money whether it goes up or down. However, you got to ask yourself why Eileen with a large dose of skin in the game would agree to this. Either she has been duped by the BoD or they believe the price will appreciate in the coming months and this was the only way to get the funding.
I think there must be something going on for Eileen to agree to this so I've taken a position here, good luck to all holders.
As usual dyor and good luck to all holders.
The thinker is absolutely right this BoD have destroyed investor confidence.
It doesn’t take a genius to figure out that first priority of the company should be looking after the cash cow. Why oh why did they not fix wells 141 and 142 in the last six months? If they had fixed them and we had mixed results on deeps it wouldn’t have mattered.
Look at todays rns and the wording for wells 141 and 142 - it shows they have done no work to bring these back online. Instead they spent the money and reallocated the rigs to block 8 to get Kuat out of some mess.
The assets are still in play. Seems to me they keep posting bad news to get rid of PIs and seem to be doing a good job.
I am not selling as even at 1700 bopd at $35 that’s nearly $2m income a month. Imagine if they had concentrated on shallows and got production to 5k bopd promised what the share price will be.
Looks like September when we hear about 802.
Good luck to all holders as we are going to need it with this stupid BoD.
Can’t blame those who sold but I’m in it till the fat lady sings. This company has so much potential but such a stupid BoD.
I’ll give them their dues if the get 802 flowing in a couple of months but I’m not holding my breath.
we are in the calm before the storm period.
we have news due on 3 fronts - ce cash, 141/142 and 802. any one of these will be a boost to the share price.
someone is loading up at these prices - we have had some hefty sells last few days but no major sell off - hope i have not spoke too soon. mms happy to take 600k but can only buy 150k at 3.649.
the thing to bear in mind is that all the assets are still in play. the last 6 months has been a **** show from the bod. instead of concentrating on getting 141/142 online they spent the money and reallocated the rigs to block 8 for the benefit of kuat and a half ****d attempt to get 802 flowing.
the upside here is huge otherwise none of us would be here.
atb and dyor
“Should the pipeline outage continue, foreign investment will be further reduced, which in turn will put at risk further jobs and the ability for the industry to deliver the 400,000 barrels of oil per day required under the 2023-2025 Federal Budget Law,” said APIKUR in its statement.
https://www.rudaw.net/english/kurdistan/260720231
Mmm … so Erdogan is visiting Iraq next week and articles from news outlet that the opening of the pipeline is on the agenda , the oil companies have put out a statement saying they will be laying people off unless oil starts flowing. Erbil, Turkey and Iraq have been blaming each other for why the oil hasn’t flowed. Won’t be able to blame each other if they are in same press conference without it getting awkward. These guys are greedy not stupid they would not put themselves in this situation unless they have agreed on a path forward.
Bring on next week and good luck to all holders
Porky9 has been successful in spreading fear, uncertainty and doubt. The market it would seem is pricing in a placing irrespective of what it says in the Cenkos report.
What is needed here is a clear and unambiguous RNS from Suzy and the BOD stating the position around placing to put this to bed once and for all.
@porky9 - I have no issue with you talking of placings and you giving your opinions. It’s always good to get other views.
I’m sorry but unless you are Jesus I don’t believe you are spending so much effort here trying to save the masses from a few rampers.
If you are claiming to be Jesus then I apologise
I invested for CLX at 9.5p and I still believe that will be the company maker so happy to wait and see what happens. As this is aim I fully understand I might have to write it off altogether.
@Porky9 - You on the other hand think short to medium term this is not worth investing and talking of placings. The bit I don’t understand is if you think this is not worth investing now then why would this be worth investing at 3.5p after the placing and/or removal of some of the BOD? Other than having extra cash nothing else would change.
If you don’t think it is worth investing then why spend a year commenting on a share you have no interest in?
It seems to me you have an ulterior motive.
I think they’ll announce the opening of the pipeline - the grunts have done the work in the background and now the leaders can take the applause.
The leaders will look inept if they don’t announce the opening as they have been blaming each other for the delay. The only save facing for all of them is to announce the opening.
Good luck to all holders - not long to go
The company secretary sits in on board meetings and advises the directors. We should be getting this information in an RNS not Clive responding to emails.
As a minimum we should get an rns by tomorrow morning and who knows it might have other information we are waiting for.
ATB and DYOR
If it's this chap https://www.linkedin.com/in/erwin-blik-93974282/ then he appears to have the right experience - mergers and acquisitions , restructuring and international tax.
ATB and DYOR
Grasshoppers....
The main men are taking just a matter of time..
https://twitter.com/RudawEnglish/status/1679842294327922689
Have a nice weekend you all
MrC - Example of shares bought by UBS and boo while RevB is suspended.
https://www.asktraders.com/analysis/ubs-backs-boohoo-at-revolution-beauty-what-next/
Exactly those who didn’t buy when it was below 3p will ideally like to get to those levels again. Problem is now everyone will want to buy at those levels lol that there won’t be many shares on offer and then there will be a mad scramble to buy in again and the only winners will be the MMs. Best to hold and wait for news but as usual each to their own. We don’t have many shareholders to start with so will hate to lose more.
We are going to see weakness until the CE rns lands or news on 802/141/142.
As usual dyor