Member Info for Notanotherone

I'm still invested in here from Gold oil days and have averaged down numerous times but will not do it anymore. People need to look at facts it's not all rosy here, we have lost over 75% of our value in a little over 3 years most of this since Andy Butler because CEO (yes I know it was his company that had Chuditch before Baron oil came along for the joint venture) but all we have had is broken promises all blamed on external factors, we should have drilled years ago according to released RNS's we even went as far as CLN's destroying shareholder value and still nothing. So I'm not holding my breath for a drill in H1 and probably not in 2026. Nice he's put in his own money as a loan, but if he hadn't I don't think we would have a company to invest in as no one would lend us any money with no guarantee of repayment and we would have run out of money about now. I do hope he has something up his sleeve for an acquisition with production to take us out of the doldrums but judging by past performances I'm not holding my breath. I need the share price to double just to break even after averaging down for years with larger and larger investments, one of my worst ever investments. Remember we need to 5 bag just to get back to where we were a few years ago. Sorry for the rant just sick of the positive this time next year Rodney type posts. I'm assuming im one of many Genuine long term holders sitting on a large loss here. Come on Andy Butler prove me wrong

Optic15.

On paper there seems to be very little risk of the Sidara deal going through. Sidara is basically a company which seems to be buying up other companies and tries to increase their profits, it is very good at this record turnover this year, Wood Group fits into that category (Wood is a very well respected engineering company active all around the world with a very healthy backlog of orders, but very poorly run loosing money hand over first on lots of deals and negative cash flow, so fits the profile perfectly). Where the risk is IMO is it looks like there is possibly a FSA investigation going on into Wood Group about how much they knew about their financial position and withheld this information or lied about it, look how much their share price crashed once the information was out, I think this is a minimal risk to the deal, but something has investors spooked as the share price would normally be 26p plus with a agreed 30p offer which is planned for completion before end of June next year.

I'm a new investor since suspension lifted and keep topping up. Hope this helps

Just a reply to other people's comments calling names because they think they are correct and are the font of all knowledge investing in shares, Sidara can reduce reduce their offer, if they have an excuse eg some more information comes out from Wood which they say they are not aware of, I know its unlikely but not illegal or impossible (look at Musk and Twitter purchase for evidence it can happen). Don't just throw negative comments because you think that you know more than everyone else. It's a board for everyone's opinion and these should be treated with respect, you wouldn't talk to someone in person like this so why do it on a board

There is so much rubbish written on here, no one really knows what will happen, what we do know is we will vote on accepting Sidara's 30p bid next week.

They can reduce their offer, nothing is binding in their offer (it's highly unlikely this will happen though after the board have accepted and recommended this latest offer, due diligence has been completed so Sidara will look bad decreasing it further and risk a no vote and missing out on a fantastic deal for them, so highly unlikely it will happen but not impossible). There could be another bid, but in my opinion unlikely as I have not seen any rumours lately in my research of companies looking at us, hopefully I'm wrong so we get in a bidding war and see the real value of the company reflected in the share price. Could Wood make it themselves if we have a no vote, my opinion is without further trading information from Wood probably not, negative cash flow with over a billion in debts is a bad combination.

I know the above has not really answered anything but that is because as private investors we just don't know we are not in the loop. I personally am hoping for a rival bid no matter how unlikely that is, if there is no solid information about that this week I will look at cashing out at anything about 28p.

GLTA genuine investors

StewR13, thanks once I logged in on the browser it let me apply.

Hi,

Has anyone else had any issues buying the new shares, I cannot purchase through either my SIIP or ISA through AJ Bell although I hold the shares in both, the offer ticker shows the share but I'm unable to purchase.

I think the chances of Sunda reaching a penny are long gone on chuditch alone, too many shares in issue and a lot of outstanding warrants for the directors at relatively low prices. I would say .35p would be a really decent price at the minute, although a lot would need to happen including a successful drill to get to even that. But anyone's guess as too many unknowns. There is a reason we are at this price, no one believes it will happen. I along with most long term holders are hugely in the red, if you are a long term holder and only 50% down you are doing well.

We still have an asset with huge potential, just lots and lots of failed deadlines and promises.

GLTA long term holders you never know Andy may still surprise us yet

We were lucky that we converted the first lot of CLN's or the lights would be switched off about now.

We are in a horrible position having to raise more money when we are at all time low share prices. This will massively dilute us long time shareholder.

We are in a position now where the there is still no route to market for the gas and even if there was we don't have any money to drill an appraisal well.

I'm hoping Mr Butler has something in the background we are unaware of but judging by past performance probably not (remember his other company has been well compensated in this process, so he's not as badly off as the other large shareholders).

I really hope I'm wrong, but the only reason I'm still in is FOMO. My holding is still relatively large but materially now worth below 15k.

GLTA long term holders I really hope It comes good but the longer it goes on the smaller the chances are. I can't believe at one stage I thought we would make it to a company valuation of 250m with no further dilution, now I'm hoping for 25m just to recoup some losses.

I'm long term holder from Baron oil days, (not as old as Gold). I don't normally post but I am sick of the trader posts, lets not pretend this CLN deal was anything else apart from a dog, worse than Yeo's last rights issue to keep the lights on. We will give away over 50% of the company for the price of our share of the drill, with further spending required to get this to production even with positive drill results.

I am an investor and not a trader, I was invested in this as I was hoping for a 15 / 20% stake left in Chuditch with a free carry to production with a potential market cap at 300M about 1.2P with the right partner that is why I invested, this is a small part of my portfolio but a large part of my risky investment portion (greedy I suppose as it was to buy me a nice holiday villa with a pool, there was enough of a chance to get to that with the asset we hold).

We are now dealing with the door to door pay day lender of the financial world who will do anything to drive down the share price to get a better deal even though the one we have signed up to is very favourable for them (before any negativity I do think it was the only one on the table). That also raises the question why no one will lend, which makes me believe no one believes the island will do anything, or their terms are not favourable enough. We are prime location for a relative cheap pipeline to Darwin and the proceeds pay for a Sunrise pipeline to the island, one of my investment hopes, but indication is it has to go to the island, just cant find anyone to pay for it.

My recommendation would not be to buy into this even at these levels as for me the risk verses reward profile has changed, I will still continue to hold until the drill and make my decision then as to sell or hold further, I have held on for so long and you never know someone might pay for a pipeline to the island and its a different ballgame, but until this happens our new investors want this share price as close to .025p as they can get, no matter how they do it, the only thing stopping this is positive news from the island on major project level funding, so for me even trying to average down is too big a risk as we still have a big drop to get to the 0.025p level and the potential uplift is minimal before drill results or major news from the island.

I still believe in the asset just our share is massively reduced, so fingers crossed to all the long term holders like me who are still in the red, but if you are reading this and looking at investing do plenty of research (some excellent research and posters on this site I will let you make up your own mind who they are), but for me the risk profile has changed and the risk is too much for reward. (even though I am staying invested).

Remember everyone has an agenda and is in it for themselves, I just wanted to put my view into the mix. Hopefully balances the traders who are either positive or negative depending on their position.