RE: WY Oil & Gas Conservation Commission28 Dec 2021 12:33
AJEP - current Mcap is £33M as there are now 194,519,464 shares in issue not 164M. Re you're point about I.I's buying in once this is above £50M (26p) is fantasy. There is no set threshold for the Mcap to where they start buying in. The Mcap on morning of relist touched £103M yet we didn't see them pile in. The I.I's have a very specific risk profile when it comes to investing and given that oil and gas stocks are no longer the flavour of the month for them with many beginning to divest it would take something pretty special to happen here for them to jump in.
£2-£3 is pie in the sky atm I think most would be over the moon to see this back to around 60p but with the shares now in issue that's a big ask but it's doable. (60p now would be £117M Mcap)
So for that to happen we'd need CUDA in the bag, some actual PR (which as explained I don't think will happen until sales process with CUDA is done and dusted in Feb), regular updates showing stable increases in production, the account's to start to show decent profit and most importantly no prospect of further placings.
I think the market views AM somewhat as a loose cannon and there is clearly trust lacking in what he has said as opposed to what actually has transpired over the years.
Some people have lost tons of money remember and never forget that. So until many see thing's in black and white in the form of RNS's as opposed to personal emails from Cathy or AM or other sources, then many will continue to sit on the sidelines due to previous experience.
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