Member Info for Legalwolf

Roger65 - I have no idea, as we don't really have any strong or recent history of trading at these levels. I think you have to go back to 2020 for when POW's share price last traded at these levels, and of course its a different company now.

Therefore, not sure how much reliable comparison you can make with that period, both fundamentally and technically.

But at a complete guess (and so not really worth anything), I'd say around 0.55p would probably be the next support level, IF it does indeed continue to drop. Equally, it might not drop, and this could be the bottom. As always, it all depends on newsflow and market conditions.

As others have said, it's probably not worth watching the share price here for now. This is more of a long term investment. We just need to tough it out and wait for a turnaround in this sector and/or that first discovery (inc through the IPOs), whichever comes first. Again, not sure any of us can really say whether and when this might be. All imo and GLA

D2B - it absolutely was not done over the weekend, and to even believe otherwise is frankly ridiculous. Orchestrated shakeout imo. But this is AIM, and tis what happens in the AIM casino. But at long long last He1 has a Rig, and that is the main thing. All imo

Let's hope its strong media and comms all the way to drill now. Good question!

"The Drillmec HH102 Marriott rig is also another option that the Company continues to evaluate."

I'm sorry, but how was that actually correct in light of today's RNS. Orchestrated shakeout was the call I made and that's exactly what it looks like has happened here. All imo

Did they blatantly lie to us on Friday then? Think

Latorre might have called it right actually with his suspicions about lower entry. Unbelievable but best news possible after Friday.

There simply has to be a firm message to the majors that they need to make a decision about Anza promptly, and that OMI's tolerance and patience to date doesn't come without limits. That OMI simply can't and won't end up being the sacrificial lamb, for the majors imposing their own needs and wishes above its own. I think if BG/LC showed that they are getting tough with the majors if/as needs be, the market would be much happier with them. It's there meek surrender approach and conceding whatever rights they had under the JV, that is not going well, and with good reason. All imo

"New info: Payments from DFC (once confirmed) do not need to be matched like for like at the time."

Mercedes - thanks for this, but can you elaborate on where this has come from, as it would make a lot of difference, as you say.

KR - "To be fair Lorna usually does a video..."

I think we've had only two interviews from her in the 5 months she has been CEO? It would be great if she could buck that trend and explain the very poorly written, which managed to convey three different and opposite outcomes:

1) We are still banking on Sofori even though they have shown zero reliability to date.

2) We are exiting Sofori by serving them with a notice we don't believe they will be able to comply with and will be looking at alternatives for Q3.

3) We don't really have any alternatives for Q3, so that's why we are prepared to consider the Marriot Rig.

So yes, she should come out and explain wth is going on here and what exactly gives her confidence for Q3.

I wonder whether, when the Noble CEO said in their announcement on Friday that they "have not lost any momentum", whether that was a thinly veiled dig and message to the market about He1. Maybe they know that in terms of Q3 drilling, He1 are now up a creek without a paddle, and that they have stolen a march on He1.

Could this have turned out any better for NHE? They have come from nowhere, overtaken us, and might well be looking at our car crash in their rear view mirror. All imo

I think PJ now has closer to £600k in POW - it's not gone the way he would have hoped. Sometimes it makes little difference to share price performance. ECR is oversold and near all time lows. Is it more likely to go up or down from here given the newsflow is has coming up? What's the smarter, higher probability bet in light of that?

Make your bets and then live with them. GLA

Notrex - my point was not about charting, it was the simple basic fact that the share price is at extreme lows, as the company goes into new project in QLD, which taken together, represent the chance of some upside imo. Rather than deal with that basic premise, you decide to turn it into a post about charting.

I think you are starting to react to being found out again, by playing the man and not the ball. You have no answer, but can't admit that. Classic behaviour of some kind of keyboard warrior with a personality disorder imo, rather than a genuine and well intentioned LTH. But others can judge for themselves.

Ironically, we have finally managed to agree on something, which is that it is no point exchanging anymore posts. You are a one trick pony (or should that be phony), and I don't need to read another 500 posts about the BOD and their wages.

I will now hit filter and true to your word, you should do the same with me.

Latorre - re your question at 14:21, I don't think so. For the simple reason that losing your first driller advantage is not consistent with such a strategy. I think IF there is an alternative motive/strategy here, and its not just rank incompetence, then its more likely to be that they don't really fancy risking £10 million, and their own livelihoods on Tai, with its very low COS. Better than to let NHE do the boom or bust, and then react accordingly.

LB is our chief geologist, and whatever her flaws might be as a CEO, she is the one person at He1 who is the most qualified to assess the prospects of success at Tai (and Rukwa more generally).

Imo, she has never come across as exhibiting anywhere near the level of enthusiasm and confidence that DM expressed about Tai, or how NHE's CEO has done about his string of pearls. And perhaps tellingly, she has not backed the project by buying shares. I'm not referring to since her time as CEO, when she will have been in a closed period, but since here arrival at He1. I don't think she took any in the last placing - a notable asbsentee? All imo

When we talk about it needing a shakeup, are we not all assuming that this keeps on happening to us because of error, incompetence or just bad luck? At what point do we start to question this assumption? All imo

The answer is in the chart, if you ever bother to look at it. ECR's share price has gone up, as well as down, in the last 5 years. I believe we are approaching a period where it has a chance of going up over the coming months. The combination of a low in the share price and switching to new projects is what underpins my decision to press buy, more than any reservations I might have about the BOD.

What is totally bizarre and probably into the realm of narcotics and not alcohol, is to care only or mainly about the management, yet despite that being your only or main criterion, you STILL put more money into the share, even though management have been abject failures. It's a bit like saying you are a committed vegan, but still deciding to shop at the butchers.

Once again Notrex, you're starting to come across as having a bit of a doubtful agenda here. The agenda doesn't appear to be of someone invested in ECR and wanting its share price to go up. All you do is stamp down on any positivity by mentioning the management over and over again.

It's not adding up at all and a number of posters are starting to comment about it, in the same way as happened when you were Rx. I fear you might need to reincarnate yourself again.

Notrex - I'm not interested or invested here because of management. My thesis is more short term, which is the share price has endured a sell off based on Victoria failures, but is now embarking on exploration in QLD. This represents a scenario for me that has some potential upside to it. Therefore, right now, I couldn't care less about what the management have done over the last 10 years. I haven't been an investor here for probably 8.5 of those years!

So to answer your question as directly as I can:

1) I couldn't care less about the management right now. Their past success or failures don't have a material bearing on my analysis that there is some potential upside to be had here from the upcoming newsflow from QLD.

2) Tomorrow, ECR could announce that they are replacing Tang and the NED, with you and Tamer. So long as this wouldn't affect the QLD plans, I would still see the potential for upside coming up.

I hope that answers your question so far as I am concerned.

What I wouldn't do is put more money into any share, if I saw little to no chance of it going up. I haven't read 'Mr Bean on Investing' and therefore don't follow that approach. Joking of course!

Total contrast between how they behaved before Tai 1, and how they have behaved since then. It's not just how many Rig failures there have been, but the actual manner of them. We spent circa 6 months trying to fix a Rig in a scrapyard, and which couldn't then be exported, to then signing a LOI with another Rig not knowing its existing user had a retention option on it, to now spending 4 months with a dubious Tunisian outfit (with no online presence) even though they have been missing deadlines. I can't even now remember whether the Rig that was subject to a court case has to be added to this sorry list, or is already included in it!

Meanwhile, NHE come in and show us exactly how it is done, with minimal fuss, and with a Rig that has been under our noses all this time.

Farce after farce and we are expected to believe they have been serious and committed to drilling all this time? All imo and dyor

D2B - I actually think we are at the point where we almost need a running commentary from this lot. If you have an employee who is repeatedly failing at their objective, then you have to keep a closer eye on them and get more regular updates. It sort of feels like that with He1, where in order to maintain any level of trust and confidence in them, you actually would prefer to hear about any difficulties, rather than have to suspect/infer them from their silence instead. I know that's unrealistic, but there are times when they need to come out and say more, and this feels like one of those times imo.

So unless a resolution is close - how often have we said this as well - she should front up imo.

Yes, I really do think that LB needs to front up here. As well as it being her job to do so, it's also the very least that shareholders deserve, given the hastily issued and badly worded RNS, that has thrown a cat amongst the pigeons. Whether she does will be a test of leadership, as well as the company's overall character and caring towards its (so far very badly bruised and let down) shareholders? If the situation is not as dire as many of us now think in terms of still being on track for Q3 drilling, then come out and tell us so? All imo and dyor

It's difficult to find or think positive right now. It's not just the RNS and the totally ridiculous outcome it has announced, but everything that has preceded it. How does anyone process the below, and then emerge from it believing or having a high degree of confidence in He1, or without feeling a sense of their contempt towards us:

1) The AGM promise to make amends for the Rig farce and to keep us up to date.

2) The stated commitment and determination to finally sort out a Rig for Q3.

3) Telling us back then (and even now 5 months later) that they have a number of options for Q3, which made us believe their confidence and assurances.

4) Ridiculing DM's LOI - "not worth the paper they are written on", making us believe they would do things differently.

Then following that AGM, actually doing the following instead:

1) Likely picking the most dubious Rig provider from all the Rig options they had. A company that would probably struggle to meet their demands, and suffer no reputational damage from 'letting them down'.

2) Entered a "not worth the paper they are written on" LOI with this provider.

3) Kept them as the only horse in the race, even though they had been missing various deadlines, and putting Q3 drilling at risk.

4) Not advanced a plan B with one of the alternatives (and likely more) reputable providers in that time - thereby putting Q3 drilling at risk.

5) Not communicated with their shareholders, or maintained any comms. New CEO who promised regular updates, instead went MIA.

6) Lost first driller advantage to a rival play, after telling us it was absolutely imperative for He1 to drill first.

7) Left the future of any drilling at Tai - the only drill ready prospect we have - up in the air now and likely to be determined by the outcome of NHE's drilling?

If it were not for the civils/on the ground preps, I would be concerned that He1's strategy is/was in fact to allow NHE to go first, and then let the outcome of NHE's drilling, determine how best to proceed. But in any case, losing that first driller advantage will change the investment thesis and risk considerations here. All imo and dyor

Notrex - I think you would want to win an argument, even if it was against the guy in the mirror. Like a dog with a bone, you just won't let go. Nobody is asking you to trust anyone, or invest in ECR, but you have chosen to do so. And you told us that you recently added more to your holding in order to average down. That was knowing all about the BOD wages and all of the negatives that you constantly go on about.

Therefore, you must surely see the possibility of upside from these levels, otherwise you would have to be a complete dimwit to have put more money - and we know you're not dim. All we are saying is that having spent 90% of your postings dwelling on the negatives, how about spending more time now dwelling on the positives that made you add your money into ECR recently.

But anyway, you're not for turning, quite obviously, so let's just leave it.

Tamer - your 12:01 was very funny.

And trust me, I haven't even started yet. I will be dissecting and reflecting on this further in the coming days and weeks, until or unless they issue us with that Q3 RNS.