Member Info for munchbox54

Today looks like a blood bath.

I’m not buying today. Too risky here

Rockrose energy is the footprint.

Andrew Austin made more in a few years than this bod made in over a decade.

They will 100% look to follow that footprint and even as a starter I’m more than happy with a RTO that carries decommissioning costs because you get the asset for peanuts like Rockrose did.

However I seriously hope that these guys bite something very big indeed and would love the word Exxon fields types next to RTO. That would be something else. MMS would get so scared we not only relisting 100% .... we actually being marked up a further 100% with panic buying lol.

It’s all in the name.

Rockrose got Marathon .... that was a big one .... Exxon is even bigger.

So I’m getting 98.8p to buy through normal trading platform for 5k shares.

Tried cfd and they giving me 95p for only 2k shares at a time.

So like a beggar I put through 4 transactions with my cfd for 2k shares each for a total of 8k shares like a beggar .....

There will come a time very very soon when the market will be begging for my shares.

Let the game begin.

Gutted I didn’t buy few days ago when I was quoted 88p for 11k shares.

The more I read/ learn and experience tells me is that these guys are waiting to hit the jackpot.

Truth is there must be assets being thrown at them and the longer it takes the bigger the bite will be. M
In for 10k shares today.

Let’s go.

Surely these must bounce from £2.20 ??? Am going on tomorrow morning hoping for a quick day trade. Wish me luck.

I’m back.

Noticed the big drop today.

Not here to gloat because we invest to make money and I sincerely hope investors make money in any market.

Back to this stock , at time’s its just too good to be true , maybe it is. Just be careful and invest what you can afford to.

Numbers are massive ..... sp is very small ..... you work it out .... if the numbers in revenue ever dropped its lights out here.

Cash ferret. These are rock bottom for a reason.

Simon is spot on. The writing is on the wall in big bold lettering and it says .... wipe out. These will trickle lower n lower until there’s nothing left.

10% of something is better than 100% of nothing.

Grades abs resource are there but truth is nobody wants it Especially with covid Effect the entire world.

For new shares to raise money for Erris. Truly shafted.

Loudspeaker. It would have been a raise at that if Orion Who are known to be like a loan shark didn’t help out .... for now.

The big problem I see is if Bmn need more money on the future then Orion will take them to the cleaners like they did with weatherly international who produced copper. Luckily I wasn’t invested in weatherly but my brother was.

Just watch out. I’m not convinced with today’s rns.

Orion have never been linked to many successful companies ... weatherly being one of them.

I did mention yesterday they need financing but my post was reported lol

Going forward this is a difficult play and one that will drift way lower as market sentiment gets more negative.

Spot on longlad. AT has painted a picture with rose tinted glasses and it’s really painful for many holders. Money down the hole comes to mind. Only $500k in the bank. Ufffffff

Mozza, let me help your gut feel better.

80% of companies DONT have the cash or backers to bid big.

Prime example is PMO truing to reduce the BP transaction another $90m from $670m to $140m ......

Let me tell you right now LBE have $140m and more if they want to use it.

$100m got you some peanuts before covid and maybe a few pistachios.

Now $150m can get you a 30,000 bopd producing asset.

A 5,000 bopd asset will cost $30-40m. Not the type I Hope Managment go for. I want them to show ambition. Assets are at once in a lifetime sale prices. HH needs to go big.

Are also looking to sell spirit energy and they produce 70k bopd for their % and the other 30% is also up for grabs that does another 30k bopd.

We could easily buy the 30% and suddenly be a mid tier producing 30k bopd. Would cost us £250m probably.

There are so many assets on the market the BOD are literally spoilt for choice.

Seriously I for one can not wait for that day we Suspend and the RTO is announced.

Majority of fields and assets are producing many bopd and just think the bod took so many years just to get Faroe towards 15-20k bopd and today they can simply buy an asset that produces more than 20k bopd costing them so much less than the exploration costs and time Faroe took.

It’s why HH said “ it’s unfinished business “

I really feel they want to get LBE towards 50,000 bopd by the end of 2021 and first half of 2022.

Vamp.

Here’s just 2 of them.

Pmo buying shearwater from BP:

Originally $670m - final price $210m with today’s news if maybe another $70m off making it $140m deal. Crazy.

Energean bought Eddisons asssets for $760m originally and agreed a reduction of $510m with final price around $200m.

There’s other smaller deals happening also.

Don’t think many will look at JOG just yet.

With so many decent producing assets going at 75% discount it’s impossible for jog to get a farm out at the moment or give away most of the asset for peanuts.

Unfortunately the teal value is with a strong oil / gas market making people want to drill and appraise ..... at this moment you can buy production that’s less than drilling / appraisals

Long wait here. If market sells of 70-80p very possible here

WS. Ofcourse it’s a buyers market and an amazing one to.

Just think that $150m would have got you a quarter of what it will get today 6 months ago .... today’s your basically getting 70% off asset prices that will next year be worth that 70% more. Crazy markets

Should have bagged a big contract or got much more traction now.

For whatever er reason it feels like the buzz is fizzling out.

Never really had faith in The CEO

With markets forming a negative pattern and low positive sentiment I feel a market pull
Back will see these at 13p again.

Mav. Nailed it on the head.

I think the team will look to do a deal quickly and add production hence ive gone in. From a £1.26 drop to 94p I think a 25% correction is a good entry.

On cfd. 94.3p bargain. Very happy chap here

I echo that seingred. It’s why I took my 22k buy from yesterday off the table.

Just surprised how quick gold pulled back but even more so why Jim dug in for 100k which is good news but the turnaround was when they must have registered the rns fir this morning.

Still have my original holding here but I also feel it’s going lower for now.