Member Info for nacho2

0.2 plus if/when it gets signed

Yikes 30% rise on news of possible prime minister signing off on licence. Think I will hold for that if it happens.

Antha and Starchild: you have both been excellent in presenting your views, and brought good views to this board.

Nice post Antha.

Had a look at SENX and they had a 20m money placing last yr with price dropping pretty much to the rights issue price of 2p. This rose significantly on a spudding of a well in Romania to around 2.8 with peak price of around 3.8 a few days before a positive well results rns (suggests nudge nudge wink wink trading to me).

Granted its a big if, but IF challenger (bpc) get good results from saffron then challenger may follow senx's trendline. Of course probability of failure is higher.

How would we all get together to vote no and organise agm to reorganize board?

Well said solarfire.

I plan on voting yes and taking up rights issue. Doing otherwise i view as letting the company (and my holding) shrink into oblivion.

Its still a major risk holding here, but the darkest days are the best days to invest (so long as the ship doesn't sink).

Still a lot of potential here. I don't see p1 farmout as likely,but any positive news from this or saffron (substantiated press releases) could see challenger (new future name) rocket. Maybe not to 10yr highs but rocket.

So bottom line is if you are a holder:
1 do nothing
2 sell
3 buy more to lower your average
4 buy more in rights issue and vote yes
5 phone a friend.

I am 3 and 4.

Thanks for providing the prospectus info Starchild.

Have a good Sunday.

Willec I'm not as optimistic in the short-term as you but not as pessimistic as jono!

Consolidation may lead to some more attention.

Srdoddy: take a look at recent ICON history, it dropped to 3 when old board resigned with 1million debt and major shareholder revolt. Now at 10 with new board and no new company direction announced (but with eghos shareholder issue resolved).

New name here, same oiler company. I don't expect massive swings here like ICON but just shows a lot can change.

Drill enough wells and higher probability of hitting black gold. Still a risky share but changing name shows they are not sticking their (and ours) necks out totally on just bahamian licences. A long journey to go maybe. With low sp's sentiment can drag a share either way.

Me personally i will be taking my full allocation of rights issue shares. This is the main reason for the drop in share price today

Technically yes, but with this capital raise it muddies the waters if they both happen at same time

I agree MarkGo. If this lawsuit gets any credibility I don't see why new yorkers can't sue their govenor over pollution ingested from yellow cabs. i've no doubt that oilers have lobbied and paid to suppress the effects of fossil fuels, but we are all guilty. Nyc tactics smack of hypocracy.

AllatSea don't forget Warren Buffet made his early money from companies on their dying supernovas. Key is buying when its undervalued by the majority.

I don't get the share price movements lately as results were ages ago.

Too risky for me.

Bushy it will never add up right, i never look at that data anymore

Sunzoo and Madd: split the difference, lets say 50p.

But only if we crack open a good layer of rock.

Well put Squirrel haha. Aim has become my favourite market. Maybe i just haven't been properly burned yet.

Invested here now also. Looks promising after being halved. Could still go south but my money is on it going north.

Unable to get a live sell done on wee shares. Somethings up.

Everyone should sell/hold/buy based on their own research and the risk they are happy to take

This share gets played a lot no doubt by day traders.

High probability of more plaacings.

Very low probability of 1p here.

If you are not prepared to lose money, don't invest. Thats not to say you will lose money, but atm this company runs on placings.