Member Info for LONGWAIT

Thanks for the explanation, Manyana.
I was wondering what was going on.
I've never seen the corrected version.
At least it proves that you can't believe everything you read in the newspapers.

'Long wait. Bought 20k of hurr (sic) at 6p sold at 8p knowing it would retrace not such a daft invester (sic).'

(Tymers)

If you're not a daft investor and are able to time your investments with such precision, buying a stock (HUR) at its all-time low and selling for a profit, why have you been buying UKOG at progressively lower prices?

Why haven't you waited for it too to bottom?

That's such a stupid comment, Tymers.

You're doing little more than taking the 'words' 'swampies,' 'trolls,' and 'ukog united,' and juggling them about.

'The annual results show that Providence was down to its last €710,000 in cash at the end of 2019. It raised further financing from shareholders and subsequently secured commitments for a further €3 million from Norwegian group, SpotOn Energy, which will see it through to April 2021, it said.'

https://www.irishtimes.com/business/energy-and-resources/providence-resources-reports-26-8m-loss-for-2019-1.4269849

Seeing your remark about filling your boots made me chuckle because the resident rampers on UKOG - who have done their best to join in the market lynching of HUR, complete with alleged gigantic water cuts, massive debt and plummeting production (and that was before the interference was reported), and even predicted price parity of 20p, are now claiming that UKOG shares are rising.

They were down 12.77 percent today, but finished down 10.64 percent.

That's some rise.

One of the resident UKOG rampers wrote today:

'Absolutely oversold. Massive opportunity here..... especially at this gift price.... fill your boots.... '

UKOG announced today a placing at 0.20p and the share bid price converged to that level today, yet UKOG rampers 'think' that a share price selling at the same price as its placing price means it is way oversold.

If that remark had been made about HUR, it would have been believable.

' If indead 300b/d is all she will flow, well then this is indeed a very steep cliff to price recovery.'

Resident rampers have been screaming that the shares are a screaming buy for a long time; I remember when they were saying similar things to what they have posted today and the price then was 0.70p.
Anyone who disagreed was dismissed as a troll.

The rampers have been saying that production will shortly and easily reach 1,000 bopd and 3,000 thereafter.

Where is there anything in today's RNSs to indicate that there is any prospect of production reaching 1,000 bopd in the near future?
They seem to be talking about a modest increase from the existing producing well(s).

Unless and until production increases substantially, I would not expect any analysts or brokers to be recommending the shares.

In the meantime, the only people who will be recommending them are people like Tymers and TrollHunter2, who are sitting on losses, who were urging people to buy at multiples of today's price, and who talk about anyone who disagrees with them as if they are out of touch with reality, when it is they themselves who are out of touch with reality when they talk about a 2p share price in the near future and then 10p.

'Absolutely oversold. Massive opportunity here..... especially at this gift price.... fill your boots.... '

(TrollHunter2)

That's a completely dishonest statement.
The shares are obviously not oversold.
The shares have been trading in a narrow range for a long time, shadowing the prices at which debt has been converted to equity, while you and others have been talking about how much they are going to rise.

The bid price has now slipped further - converging to the placing price.

'Sp starting its rise.'

(Nhawan)

Another dishonest observation.
According to Google's chart, the share price is at a seven-year low.
According to LSE, it is down today.

'The Bounce is starting.'

(Pboo)

Completely untrue.
Anyone can look at the price at the time you posted your comment and see that it is at a seven-year low.

'It is only the day traders who can be ****ed off because they bought at 2.4p thinking they would sell at 2.6p/2.7p for their 10% profits and now they are suddenly nursing a 20% loss with capital stuck in this share until after the AGM thinking they are loosing money.'

You mean people who bought for 0.24p, not 2.4p.
People who were influenced by the ramping on this board and bought at 2.4p are now losing more than 90 percent.

Yes indeed, Haggis, and two years ago the share price was 47p - not 7p!

Almost three years ago, to this day, RB asked RT whether he would accept an offer of $500 million for Lincoln.
RT replied that he would not, but added, 'Ask me again in a year's time.'

Question:

(1) Am I a fantasist, who has imagined that such an exchange took place?

(2) Was RB off his rocker to imagine that anyone would offer 20p per share (at recent exchange rates, and without dilution by bond conversion) for Lincoln alone?

(3) Was RT even crazier than RB to imagine that Lincoln alone is worth more than 20p per share?

(4) Even if RB and RT were both wrong, is their exchange an indication that 6p or 7p per share for the whole company is a gross under-valuation?

Réponses sur une carte postale, s'il vous plaît.

NB. RB = Richard Bernstein ; RT = Robert Trice

https://twitter.com/CrystalAmberRB1/status/872428322969571329

I'm not sure what a '..te mathematician' is, but I do have a degree in mathematics.

I should have written 20p per share, not 200p.
I had calculated that figure - 20p - long ago in my head, by dividing 400 (million) by 2,000 (million) and getting 0.20,
but when it came to writing my comments, I divided 400 (million) by 2 (billion) and got 200 - a bad mistake.

According to your figure, it was about 33p per share at that time.

Thanks for pointing out my mistake.

Almost three years ago, to this day, RB asked RT whether he would accept an offer of $500 million for Lincoln.
RT replied that he would not, but added, 'Ask me again in a year's time.'

Question:

(1) Am I a fantasist, who has imagined that such an exchange took place?

(2) Was RB off his rocker to imagine that anyone would offer 200p per share (at recent exchange rates, and without dilution by bond conversion) for Lincoln alone?

(3) Was RT even crazier than RB to imagine that Lincoln alone is worth more than 200p per share?

(4) Even if RB and RT were both wrong, is their exchange an indication that 6p or 7p per share for the whole company is a gross under-valuation?

Réponses sur une carte postale, s'il vous plaît.

NB. RB = Richard Bernstein ; RT = Robert Trice

https://twitter.com/CrystalAmberRB1/status/872428322969571329

Yes, indeed, DU.
I was planning to post a comment about MasterRSI's twaddle about a correction coming, quite apart from the Fibonacci twaddle, but the market has beaten me to it.
You drew attention a couple of months ago - when the price was bottoming - to the £42 NAV.
It seems the announcement of that figure at the AGM has attracted inventors' attention in a way that the same information, lying unread on the company's website, or mentioned by you on LSE, could not.
Fortunately, I bought three lots of JOG at 55p, before the herd arrived or returned.
Mr Fibonacci and MasterRSI have obviously failed to take into account such phenomena.

01 May 2020 15:33

'lets stick to the fact Poo won't go anywhere in the near future, will stack in range of $10-$30 for long time..... purely traders paradise.'

(robone)

Another supposed 'fact' now in the bin.

Yes, Double - and it's pretty obvious whom my spat was with, even if you have filtered him.

He has, however, changed sides.
As it says in the Good Book,

'I tell you that in the same way there will be more rejoicing in heaven over one sinner who repents ...'

Thanks for sharing the poem.
I suppose that's where Orson Welles got his idea of Xanadu in Citizen Kane.

You mis-spelled 'drunk' as 'drank.'
But don't worry - I'm not reporting you to the Grammar Police.

Thanks, Across and Double.
The great thing about such a concerted campaign is that the more people are convinced that there is something fundamentally wrong with the company, the more the share price falls, and the lower the share price falls, the more convinced people become that there must be something wrong.
If the purpose of the exercise is merely to bury the company, then the conspirators will not be buying however low the price goes.
If, on the other hand, the purpose of the exercise is to buy at bargain prices, then indeed someone is going to expose himself, so to speak.
At any rate, I think someone - whether a conspirator or not - is going to make a move eventually.

Nothing new there, O2.

'we’ll be sitting on these high averages for 5 years.'

Not sure what you mean.
Anyone can buy more and average down.
If you mean that the price won't recover for five years, then IMO you really have no right to say that, because you don't know how long it will take.
Harold Wilson said a week is a long time in politics.
On AIM it can be more than a long time.

'one piece of damaging news after the other'

When the company was producing 13,500 bopd, the SP was in the dumps.
When it increased production to 20,000 bopd, the share price went down.
When it reported a problem with interference, the share price collapsed again.

What do you expect to happen to it if the one well being used produces 13,500 bopd and the other well is later brought back into production, restoring production to 20,000 bopd?

Do you expect it to take five years for the share price to recover to the 12p that it was when it was still producing 20 kbopd?

Yes - I saw your earlier posts.
Every time I see your name, I think of El Al, the Israeli national airline.
Sorry, but I don't know what L2 means.

'even Aaog which is a cash shell company ‘with no cash’ saw 13% spike'

That should put paid to any idea that the pricing of HUR's shares has any logical basis.

Someone said that an investment in Bitcoin would have performed better.

Can someone please pass this invaluable information on to Richard Bernstein, Pelham Capital, Kerogen and anyone else who is interested in investing in undervalued assets?

'There is something terribly wrong happening. But it has nothing to do with the reservoir nor anything happening offshore
... And I'd really like to know why I get insulting and threatening personal emails relating to HUR from people who don't communicate on this LSE site, the evening before the SP plummets'

Are you saying that you get threatening emails from people with whom you have never had contact before, and that that is one of the reasons you think there is something terribly wrong happening?

Like you, I can't believe that HUR's share price performance can be adequately explained even by the recent oil sector collapse.

It's almost impossible to find another oil stock that has not joined in the rally that has accompanied the oil price recovery.
The only one I have been able to find so far is UKOG, which is still issuing shares in lieu of debt at lower and lower prices.

As I said before, HUR is being priced as if it were close to going bust.

It is still profitable, has cash roughly equivalent to its market capitalisation, and huge potential, yet its share price behaves as if Brent were at $10.