Member Info for LeMajor

Thanks for the support, it reassures me that it is only the sofa-sitting, bostic sniffing minority that has a downer on this share - and only then due to unpublished motivation.
Viva la revolution - keep it real and balanced.
We may get news over the next few months, nothing earth shattering as far as I can tell, but there will be snipers in the bushes, but they will be firing jaffa-like blanks. Nothing we have not seen or heard before, but worth the newbies taking note.

Looking at the charts for the last week we had an avg of 0.7p for 2 days, 0.71p for 2 days and 0.69p today.
The latest price depends on whether the MMs threw in some sells at CoB - so look at the day as a whole to put a last minute spike or dip into context. Looking at an isolated few minutes is not a good move unless you follow the T-line approach, but fingers get burned there too. My approach is to research, make a decision and stick with it - changing horses mid-stream is never a good idea (unless one is fatally injured). We may have suffered a few scrapes and bruises over the last few years, but nothing fundamental has changed - we are a risk-embracing company in a risky venture where 9 in 10 projects fail. Hopefully technology has narrowed the odds to 1 in 7, and we have 8 targets in q1 - so I'm expecting something good, especially as 4 of those targets are known to be oil-bearing from previous low-tech vertical drills .
High-tech horizontal drilling will take us into new realms - hopefully, highly commercial ones.

It's worse than I thought. Can't divide and does not understand decimals.
We are at 0.675p on the sp - so the claimed drop to 0.05p means a 12-fold decrease, even a drop to 0.5p would be unlikely.
The fact is we have a free carry on a 7-target drilling project for the conventional, and 88e have negotiated a core-sample exercise to collect more data on the HRZ without any obligation on our part to cut PMO in on any future deal (their only commercial interest is in about 40% of our conventional acreage) - 60% of conventional has been retained by DW, as has the 100% of the HRZ, which is the biggest prize of all). We still have options regarding Yukon and Winx projects, which following success of Charlie1 will have institutions and other Tier1 outfits clambering to throw their hats in the ring.
We are in the doldrums because some impatient investors are chasing rainbows until Ice Road Construction starts in December - but they will return well before we spud (that is when we should see the sp picking up).
I tried going for another rainbow with about 20% of this holding but it dipped a few weeks before I intended to move back - that's the trouble with rainbows, here today, gone tomorrow. We are all (well most) grown-ups and supposed to be able to live with our decisions - those that can't either go to see a shrink, or bleed-out on this bb as a cheaper alternative.
Sadly we have to tolerate the bleeders.

Maybe one of the SOPHs pulled out - or delayed the purchase. Maybe the TH has something to do with it .... not yet ended.

This CR is pretty positive. Regarding "if unsuccessful, would not be possible", I think this CR has nothing to do with raising cash for "post-Charlie projects" - £10M will not go far, especially as there are overheads to fund over the next 6 months. This small CR has the hallmark of confidence, providing some working capital with minimum dilution. It smacks of confidence in the seven targets we are aiming for, plus another HRZ core sample - We only need 2 or 3 of the of the 8 objectives to support the commercial aspirations and further cash raising will be easy peasy (PMO might even give us an interest free loan just to prevent delays). All this is speculation as we are not privy to the fine detail, but if DW did have the idea to bank cash before Charlie came through, surely he'd be looking for £20-25M.
We have some other reports due in Q3, so even though I think the word "transformational" will not be used, I am quite optimistic that we are northward bound.
Someone on HC commented that they are still subject to a TH - maybe more imminent revelations in the pipes.
ATB

Such tripe is all too common here., but demanding MORE financial detail is naive. Investors like us are not here to micromanage the business. Week to week fluctuations in the business are of no consequence - only the general trend is of interest. I've worked for some major businesses that would not provide quarterly updates to investors. I thank ASX for that requirement but I suspect DW would have done it anyway. He is pretty open when he can be, but wheeling and dealing often means that ideas and compromises change on a daily basis, so expenditure and purchases are equally subject to volatility. We might have got some reflected glory from Jade in q3 but that's not likely to impact our Yukon project until next year, since recent announcement. We still have some results to savour from External sources but as has been said, the main upswell is likely to be the q1/ Charlie project. Even if the HRZ FO discussion is underway, I see no urgency in concluding talks before Charlie spuds. Whatever timeframe comes to mind, double it ! We are in Alaska and things take a little longer there.
DW knows that tensions are running high, and that there are mischief makers very adept at playing the doom and gloom cards on all bb's. Best to keep his head down and keep moving forward until something significant happens.. Until then keep calm and patient.

would not be surprised if PMO's were moving over. Some went to REM before Winx drill and they went up higher/faster than 88e (they also came down quicker as they were virtually a one horse company). When the horse collapsed, 88e had other nags in the stable. Same thing with PMO, if Charlie comes good, our sp will rise more than PMO's, similarly if it is disappointing we will fall faster. Those moving over obviously feel they will cream it with 88e rather than PMO. (I tend to agree).

Under 400k shares traded on Asx so sp is haywire.

Just a couple more weeks and the wrappers come off, and very soon will follow a new strategic plan with drilling schedule.
If we get some institutional interest it could well go beyond 5p but an II getting on board will stabilise us at a much higher plain than 1p. This in turn will encourage back a number of investors who have sold out of frustration or impatience (oh no, what have I said).

Tiers & piers, or tears and peers? that is the question. I was hoping for a 5p spike, Spike but as you suggest, that may be some months away - still it costs nothing to hope it comes sooner.

WAa, MC is only "virtual money", the $500k is the real thing. We will make it back (and more) by the end of month as that is when revelations will appear - permitting process will kick off, and that puts info into the public domain so likely we'll get news just before then.

23M traded today. Needs to at least double to start any sustainable rise but a bit more activity than of late.
Maxed out, so o additions for me.

Another example of distortion. Some months after entering a deal with BEX, DW was said to have quipped (could have been Perth or Melbourne) "if someone put an offer on the table of $1 then we could save ourselves the hassle of proving up the leases" (or something similar). Someone translated that to £1 = $1 and the Chinese Whispers were on their way.
The £1 party had it's origins elsewhere, but take it all with a pinch of salt - nobody knows, it's all speculation.
No-one can predict the future, no promises have been made other than those in contract.

We don't need to pay for lakes and swamps in our acreage. If we have leases all around no one else can take them up anyway. As for the oil underneath them (jf there is any) we (or someone else) will extract it and pay royalties on it - so the State will be happy.

So between 88e & Bex, we have 469,000 acres today (i.e. before any assignment to FO partner).
Assuming we are only dealing with conventional oil deposits, we will still have the same acreage regarding HRZ.
Only 308,000 acres covered by AEA is affected (as far as we know) - what we don't know is "what is Bex putting on the table?".
If Bex can lay their hands on their proportion of the cash needed to cover say, the next 10 drills, will we still be able to obtain those extra acres being held for us by Bex, as an option.
It will be an interesting RNS, with an interesting couple of weeks to follow.

Me too Ben, but expected SP to be above 1.5p before FOMO kicks in - and that may not happen before next Wed.
As you say, could be double figures by Feb 2020 when I expect the drill to be nearing its target.
We just need the RNS and a revised presentation to reflect those assumptions.

I am under the impression that DW will not be as open in future about deals , results and strategy.
It depends so much on our partner. This time next week, FOMO will be doing it's part.
Not long now, days not weeks.

Soon

Don't understand the sp drop on ASX but should turn around sò0v.

Hope we get full exposure ôn the FO deal in 2 weeks.