Member Info for NelsontheDog

For me, all is good and I remain calm. If you look at delays they are all as a result of unknowns and the issues are delaying and nothing terminal on the horizon. Non op portfolio means we remain viable despite delays - hence calm. Sure I’d like returns sooner but that’s oil development isn’t it? If I was after lower returns and certainty I’d have gone for shell.

Let’s not forget some positives;

1 our non op Williston acquisition was a good deal but with subsequent global shock of Ukraine it’s an absolute belter of a deal providing a nice cushion to paradox exploration setbacks

2 the gas processing and pipeline infrastructure along with oil land was a great deal - reducing development costs of paradox field.

So when thinking oh poor us as we struggle with 16-2 and taming the potential monster that is well 36-2 - remember we’ve had a good run b of the green to date.

Happy here to wait and very happy with bod. They set the expectation of q4 2023 some time ago. Share price will recover as we start to produce and also as economic adversity ends.

If you have the patience there is a very good return to be had here.

Gla

NtD

No commentary. Good cash position. Yet agm notices allude to fund raising! Either we are about to create history with the worlds worst jv where we stump up the land and the cash, or ART wants a private jet, or we could seriously do with a forecast.

I wonder why SP is low….

Thanks Bobsson,

My original investment thesis and it’s still true today - is in relation the the esports exposure. I am a crypto investor, but I agree with Pablo - satoshi hasn’t managed to complete a commercially positive project yet. However there were some changes a while back and stellar influence meant that PEN did happen and it may come good - best chance yet - but it’s still the wildcard to my decision. Esports - now all chips in the dynasty basket more or less but I still think there is good value there and it will reward our patience.

I do have the luxury of quite a low original price but look forward to Dynasty firing this up soon.

Great board in the meantime and thanks to regular knowledge sharing posters - your posts are very much appreciated by me whilst we wait and wait.

AtB

NtD

Hi Pablo

But we are invested here in Blue star who have an agreed share of the overall tokens - hence we won’t be diluted over long term. What you are describing seems to be launch or growing pains of getting fully the PEN into circulation. Much more key than PEN valuation than the dilution imho is the use cases and adoption of pen - if this hits the right areas dilution will be like worrying about which savings account to put your lottery jackpot winnings in.

So need more use cases Satoshi and Pendulum - come on!

Darkest before the dawn they say and if so I think Dawn must be on the way…..8p ffs.

My view - we are stuck with fingers in too many very tasty pies and guilty of not completer finishing any;

Upgrades, capital, deal making, resilience of operations (global jubilee way strategy - remember that beauty), poor comms and on and on.

Our bod is not set up to fix this vice president and chair are non exec and not seemingly aiding Leon and no coo - Leon too vital to everything.

1. Get a Coo

2. Get a good fco - on board

3. Get a top top pr comms person for Leon - chief of staff type role - they protect comms.

It’s ridiculous we don’t have these - org bigger but even then we had Colin bird and Leon to do this - just Leon now. I hate to say it but Colin leaving seems to have encumbered Leon rather than giving him fresh wings to carve out a better business.

Personally for me , Leon should be coo but lack of these roles must be part of our failure to execute. Really, looking at board we shouldn’t be surprised at our lack of execution - also no resilience in structure what happens if Leon goes? - we need more commercial heavyweight in bod.

Should be a fun time for this bod enjoying growth story, but from shareholder view currently looks far from fun.

Obvs, this is all just my opinion - Oh and before Gotreal accuses me of armchair ceo’ing which I clearly am doing guilty here of doing. Ive held 2x coo and 1x ceo roles on organisations of over 2000 staff in last 15 years and consult nowadays on business turnarounds and business strategy.

I can’t help but think that news here in n next week and a half will push this price back up. Our income from existing non managed ops justifies a higher rating than this imho - but also need on paradox and more saliently anticipated production from paradox is getting closer and closer.

I can’t deny, I am feeling very impatient for this at present.

Sound like you were notready…..😀

Bill,

Thank you for your update that Art is communicating with a select few investors.

However, given that great swathes of LSE posts are to warn against trusting posters, or to try and influence other readers, you will understand I am sure that whilst I want that to give me comfort, I can’t of course rely on anything not in an rns.

If anything, arts odd comms add to my feeling I should vote against him.

We need a proper update in the next 10 working days or as is proper for a sophisticated investor (the kind Art would like. To have he says), I must vote on what is in the public domain and that is no evidential progress.

Apologies - rereading last rns - must have been a good and relaxing weekend here!

Good further explanatory rns today.

Effectively the lender is using the legal process to presumably pursue a higher settlement figure than that they are trying to negotiate for a shorter term. Hopefully market see this today and we return back up to the 90-110p range.

Hi Edgin
I agree but have not yet voted in case he does release some news. I wholeheartedly agree he need to build a business.
The normal start point is to share some guidance from the CFO - what level of production makes us breakeven linked to forecast of production raises and then link this to when additional funding stops.
I can to some small extent overlook no RBL and no jv but for me it is inexcusable to not have a finance forecast to reassure us investors (and new II’s). I wouldn’t inves here now as a PI due to dilution concern and as such I would expect any self respecting II to think the same.
Produce a finance plan - simple!
If not produced I will vote no to dilution and art re-election. Not fit to run a company imho based on this performance. Share price could be £50 per share - no II coming in here without a finance forecast

I don’t see how Art can be at all surprised with a large no vote to consolidation. He needs to communicate clearly. Our last comms from him sank the price - hence he should not be at all surprised by our reluctance to take a trust us at face value.
He must realise that given the current scenario PI’s have real concerns around being diluted out of this - reassurance needed.
I will vote no unless a clear rationale is delivered - presently that does not exist.
Strap in Art or risk falling off your faulty chair again….

It would be timely to get it prior to spending the £400k for the option

Jimmy
I hope you are correct in that rumour - I wonder what sort of value to a deal where we stand today?

Hi pablo
I suppose in that phrased scenario you are only the fool if you take action based on the advice - ie that news soon. I think most on here not taking action on BB opinion on when news may drop - I know I am not.
That doesn’t mean that I am not a fool, but not the phrase fool.
I would hope that news will come soon on Dynasty…

Agree Leeman - it was the associated irrelevance that was just plain annoying.
I suspect that whilst banned he may go to London and stand near a bus stop and tell the queuing people that there will be a bus coming soon and it will be red - when it arrives he will rage that they neeed to thank him and he had special inside knowledge (bus timetable) available to him.
Glad we will be back to just our normal squabbly pointless Barb throwing today - not!

Just whilst it’s still early n my mind on ART - I bought near the fall off my chair quote on discovery of field size, so I should have known that a ceo who can’t remain seated was going to be an issue. :)
Oh and why the fook did I need to strap myself in - a can sit in a seat - the signs were there - our ceo has a balance issue!

Agree Bob,
But personally I feel more confident - Exxon interest and of note the production report well detail relating to the field in question - however the market doesn’t seem to agree yet.
Following the Exxon article on acquisitions - I would much prefer a decent offer from Exxon rather than a jv - just simply because I would prefer an exit from ART control - I realise this is possible via sale on jv news but I suspect we as shareholders would get a better deal selling than relying on COPL team to develop the business further.
Not my usual position, but then ART and bod are not normally at the helm (or whatever item they stand near whilst they aren’t steering the ship)
I dearly hope there is news soon on an offer…

I agree we do now look cheap - hopefully when we look back we will see we have turned a corner. I think given the uncertainty of the option, I would understand a discount but on balance a value of its circa book value maybe? Anyhow imho NAV gives headway to push share price through the 0.02’s and into the 0.03’s.

My own average here shockingly high at 0.0915 but it would be nice to see some recovery and even better new blood in this share who only view the potential from here and not the drop we have incurred

The price in low 4’s is a great buy I think and maxed out my single share allocation now. I think we will end May in an all time high position given the news flow we have to come here.
Gla
NtD