Member Info for mcadder

"But what you can’t argue with is the scale of dilution and the fact that next week you shareholders will own accumulatively less then 30% of the company, when this week you owned 100%."

Or another way of looking at it is that wouldn't it be better to have 30% of a massive gas find following a successful drill than 100% of nothing which is what it would have been if the funding wasn't secured?

It is what it is but the one positive from tonight's RNS was this -

"With the dataset we have, as well as the information that we have gained from Tai-3, we remain optimistic that this well will yield a very positive outcome."

The drill is happening imminently. Therefore this will not be the usual placing sell off. Most will be holding till at least the point where the drill is completed which at this point we'll know one way or another where this is going.

Could be the quickest path back to 2-3p or more if all goes to plan

I'll be looking to pick up a minimum of 2M shares tomorrow but guess what - I can guarantee I won't get them for anywhere near 0.25. I expect the lowest anyone will get in at if they are really determined and quick will be 0.35+

At least in one sense it answers the questions from some about whether or not the lights were going to go out near term.

Don't think anyone will be able to buy anywhere near 0.25 tomorrow no matter how much they try, I reckon this opens up at 0.3 - 0.4 and then recovers somewhat as I reckon most taking up the placing will be looking to hold for the imminent drill at least.

So SP wise open up at 0.3 to 0.4, perhaps close between 0.4 to 0.5

Looking likely that even the bondholders won't get back what they provided up front for financing earlier this year. I'd be surprised if this isn't suspended by the end of the week. Don't think any reputable lender would touch this now, or anything connected to Art, even at a severe discount

not even including the senior debt facility amount!!

art ****ed things up again. there simply is no investment case now imo

One things for certain - production must be either about the same or worse at this point otherwise things might not have turned out like this

I'm inn??

Fill yer boots, I'm out, this whole thing needs investigating, corrupt on every level

I can guarantee you now as well that the remaining bondholders will be getting what they can out of this at whatever price. The senior debt and outstanding bondholders are guaranteed to finish this off now. No wonder the JV walked away!!

Well done - shareholder destruction at it's finest - just another repeat of the old Oilexco days. Clearly Art learned nothing. Either mass dilution at 0.10 - 0.20 or suspension looming now !!

All about production now. If it's materially increased as expected since installation of GGS and ramp up then anyone looking in to try and buy on the cheap won't get a chance :))

Comeonvog - so that means you must believe that Ryder Scott who compiled the independent report detailing a billion barrels of OIP are liars as well then :))

The bid and ask at the time of that 25M trade was 0.045 - 0.050.

Following that trade it then dropped to 0.04 - 0.045. That 25M trade was without doubt a sell. If it was a buy it would have probably moved the ask up to 0.055, not down to 0.045.

"25 million shares sold @ .038 this morning well below the .045 norm .

that tells me the shorts are panicking , because they are selling well below the ask."

Not sure if anyone would actually short this, but if they were, the logic that the 25M sell at 0.038 was a shorter panicking just doesn't make sense. Simply because if a shorter was panicking, they would be rushing to BUY back shares to cover their short position not SELL as they have done in this case. If a shorter had sold such a large amount like this, that would signal that they therefore believe the price is likely to drop below 0.038 and at some point in the future are banking on being able to buy back those shares at a lower price than what they sold.

Any listed small cap running low on cash needing to raise are 9 times out of 10 being offered further funds at serious discount to the SP at the time. It's a real shame with this one, but the long delays with potential small scale production now looking at possibly toward end of Q1 2024, short of a miracle I can't see them being able to get to first revenues without some sort of raise. If I was a betting man I'd say they may look to raise another 500k which may be enough to see them through. If they did, given the current SP I would predict 0.03, which going off the last raise at 0.055 when the SP was 0.08 probably isn't far off.

"The market does not have much confidence in helium"

The market doesn't have much confidence purely because they don't know what is going on behind the scenes - yet

All to play for here...

To those that continue to ignore 'the noise' on this rat infested bb - well done

This is definitely 100% one not to be out of now, company is at an inflection point, so much going on in the background with the GGS ramp up, confidential wells and those JV discussions which have been ongoing nearly as long as the discussions with a certain historic parcel with Vast and Zimbabwe lol - but an update is imminent....

My guess is that they are now at or around 2,000 bopd, and have been for the last week or so, but want to see it consistently at this level for a bit before confirming in a production/overall GGS update :))

Asimpleinvestor - that's some holding! Great time for those wanting to accumulate right now imo

"further extension to finalise the settlement of its historic claims"

To finalise.....sounds pretty close now :))

Jemgee, jimjam et al - keep it going pedalling the negative tone, doing wonders for dropping the SP LOL ;))

...... update soon folks :))