Member Info for mcadder

“populations that are heavily reliant on fossil fuel production face lower government revenues and job losses as the pace and inevitability of the energy transition increases.”

"Suriname, Timor-Leste, Colombia, Cameroon, Sudan, Mexico, Gabon, Ecuador, Chad, Venezuela, Angola, and Bolivia emerge as the dozen most vulnerable countries, with potential oil and gas revenue shortfalls ranging from 76 to 94%."

If they know what's good for them one way or another they will make it happen. They simply have too much to lose but doing nothing this time.

The placing is at 5p but right now it's showing 4.75p to sell on live prices

Just checked live info - it's actually 49M as I write....I took the plunge - topped up with another 11.4M at 0.0745 or something like that lol

"It Has to move higher!"

It is indeed - some decent buys again just now 3p to sell 3.10p to buy

Agreed TWatcher.

And this seems to be continuing the trend I expected it would given the huge dilution heading our way. Not saying this won't go up at some point but I'd expect any rise to be heavily sold into

As per my post the other day I would certainly add another 10M if this dropped back to 0.07 on the ask so keeping some powder dry just in case but happy to hold with what I've got if it doesn't drop

"The results of the studies" (3D) "may have the potential to reclassify the resources in the Chuditch-1 discovery from Prospective to Contingent, as defined by the Society of Petroleum Engineers’ (“SPE”) Petroleum Resources Management System (“PRMS”)."

Bring it on !

"A very positive bit of news, especially this if you are a Vela holder"

Actually, considering this is the CIZ bb not VELA we think this is VERY positive for CIZ !!

Another excellent RNS, especially considering the shares are at a premium at 4p which shows confidence. Another great deal achieved!

I have to agree with theyknowitall re a reality check with the current SP. I have been fortunate enough to have been in this from 0.65 all the way up to 7.3p having made a decent return.
Any gains will be harder to achieve as this has reached what could be regarded as fair value even in light of the upcoming CPR. Anyone buying in now could possibly see a doubling in their investment in next 18 months so still not bad either way. I can remember when this was 0.65 and a certain poster called Sonofscb was very vocal in trying to deramp Zphr. Probably a disgruntled holder from the Rose days. Glad I took no notice of them!

Approaching the middle of February - we must be due something noteworthy....

Timor-Leste
• young, vibrant, open, democratic republic
• substantial developmental challenges
• Economy dependent on revenues from Bayu Undan gas condensate field
• expected to cease production over the next 2 years
• national Petroleum Fund already being drawn down
• onshore exploration & offshore oil unlikely to generate sufficient revenues
• considering gas imports to convert oil-fired power plants
• gas discoveries Greater Sunrise & Chuditch need urgent progression
• Business environment
• spotlight on Timor-Leste since maritime boundaries resolved
• increased commercial and operational activities
• SundaGas Banda Dili office opened with key local personnel recruited
• good relationships with ANPM and JV partner TIMOR GAP
• Opportunity for Chuditch to be a key gas development and revenue generator

A JV could land anytime given the urgency, scale and potential profitability of Chuditch alone.

Just as a small note I did try topping up Fri afternoon before close and it was 0.08 full ask for 10M shares and NT for anything above.
I held off as already sitting on 30M and have gotten used to several false starts with this share over last few months but - what IF this time is actually the start of the re-rate we've all been waiting for? Let's hope I don't live to regret not buying those extra 10M at 0.08.
I WILL top up this week IF it does pull back to 0.07 area but something tells me it ain't happening this time....

"No idea why any existing shareholder would vote in favour for the £5M"
It is indeed a tough one Okehurst, however I think it will get voted through with a big enough majority. The alternative doesn't bear thinking about although I think a notable percentage will vote "no" which will show when we get the results.

"Guess who is going to be the biggest loser if the placing does not go ahead?"

We'll all be the biggest losers unfortunately if it doesn't as we could be staring down the barrel of insolvency. This is what they warn if it doesn't go ahead.....
RISKS RELATING TO THE GROUP
Importance of the Group
"Shareholders should be aware that if the Resolutions relating to the Fundraising are not approved at the General Meeting and admission does not take place, the net proceeds of the Fundraising will not be received by the Company.
In the event that the net proceeds of the Fundraising are not received by the Company, the Group will not be funded to pursue it's strategy and the director's will need to take strategic action to reduce the ongoing losses of the Group".

"The ongoing dispute with the Department of Health and Social Care ("DHSC") may not be resolved in the Group's favour".

Sounds like there is no plan B....

It's certainly a case of when not if and the when could be anyday.....

"SGPL's team members have extensive operating experience in South East Asia, including with Hess, Conoco, Murphy, Kerr McGee and Sun before founding Mitra Energy (now Jadestone) in 2005 and then SGPL in 2016. The team has a significant record of achieving successful farmouts which span multiple countries and includes transactions with super major oil and gas companies, large and smaller regional players and private equity.

In order to successfully monetise this potentially significant asset, a key objective for the Chuditch PSC in 2022 will be to attract drill funding for which there are multiple options and alternatives. By retaining, aligning and incentivising the existing SGPL team the Directors believe that the prospects of achieving this goal are enhanced. The Board believes that Baron's increased net share of estimated Mean non-SPE PRMS compliant prospective resources to 2,645 BCF (440 MMBOE) in relation to the PSC is more than sufficient to attract attention from the major regional gas players and other potential partners."

When you compare Chuditch to Glendronach it really puts thing's in perspective especially when estimates could put the resource at Chuditch of over 6TCf.
Thing I took away from the presentation was that there are clearly multiple partners interested in progressing this too and numerous options available to actually monetise the asset.
If we get even a sniff of a farm in partner for Chuditch this would be at 0.75 - 1p in no time!

wadogara - sorry I hadn't seen that bit near the bottom. So they actually subscribed for a small paltry amount which as CaptainSwag mentioned is only about 0.12%.
What's people's thoughts on the SP short term from here? I must admit I think with potentially 140M shares to hit the market I think the overhang of shares will dampen any possible rise so it will take some proper news to move this back to double figures. Sacking of the whole bod would be a good first step.

"Share Prophets@*************
·49m ago Just posted: Omega Diagnostics – Letter to AIM Regulation: investigation needed http://*************.com/60678 #ODX"

"The RNS's issued need to be investigated as they seem to be reacting to the mess and blatant lies."

The whole thing needs investigating. Total shambles how it's played out and to really rub salt into the wounds not ONE SINGLE director share participation in the latest raise.
If they do decide to investigate this the stock may even end up getting suspended for a time.

"the No Gas Caverns fundraising page shows they have only raised 70% of the £15,000 target."

I really wouldn't take too much notice of what if actually says on their page. They may have deliberately left it like that on their page to keep people guessing knowing full well they probably had above and beyond that target prior to the deadline. Based on the reply from the last email I'd take it that an application for a JR has been made.

I think it's less than 100M free float. Price wise should be the initial 11p IPO target for starters in the months to come

They can't sell forever this has to turn at some point

Some nice buys this afternoon....