Member Info for partridge

Today's share price will be just a dream by 4th May, a fantasy. Deal or no deal, suspension looms. There are many who need to exit here. The first out might be getting the best deal.

The update of 6th March talked about $47 per boe. The oil price has now fallen to $30/barrel. Cash was being burned at $47, now it will be haemorrhaging. In the half year results, although historic, revenue was being matched by cost of sales and administration costs were hammering the bottom line. The gamble is over. Cash needs to be raised and it is a sticky position. The extortionate interest rates on loans need to be paid. Mr Parsons legacy. Stop the testing. Become a zombie company. Zombies are less and less popular. Be careful.

People buying shares in Nuog remind me of all the people hoarding loo rolls. Whatever they think the future might be, the certainty is that it is all going down the toilet

Are you sure? I understand what you say but it does mean you do not know what the cost of sales are. It is not good practice to make operating decisions for tax reasons. The administration fees were $1.4 million at half year. Was that the tax due?

The pump and dump on Friday has to be unwound. Hope you weren't reeled in. This is the plaything of Twitters. And doctors. Many shares to be sold. Options have been given out aplenty but the new C4 Energy shareholders haven't bought a bean. And that's what these shares are. Billions and billions of them. The clock is ticking. Not the time for shell companies. The market is crashing. Shells are first to break.

Sneaky RNS by Mr Parsons after hours on Friday. Usually indicative of manipulative management hiding their shortcomings. Mr Parsons is no different than what has gone before. Complete contempt for shareholders. If his RGM example is anything to go by he should purchase shares now. Showing confidence. He won't. He likes losing the money of other people, not his own.

Caspian does not make money. The revenue was matched by cost of sales at the interim stage and dragged $1.4 million into the red.

With respect Mr YingTong there is no possibility that exchanging shares for a " £20 million" company is remotely possible. I think it is the other way around : a £2 million pound company for £20 million worth of Nuog shares. They are valueless. Though in today's climate it would be getting difficult to close even that deal. These people work on being able to sell placing shares onto naive investors and that includes people who " average down" and the "know what I am doing" type. It relies on people jumping in blindly and raising the share price excessively so that the selling is easy. That is why Mr Parsons has cornerstone investors and not institutional investors. They know there is no value. In tougher markets that rise will not work and the Parsons model will not work. The cracks are beginning to show. Steer clear of the obvious ramps dragging you in and depriving you of your money.

An interesting after hours Friday RNS for Ascent Resources where the beloved Mr Parsons is executive chairman. His arrival coincided with the usual cash raise, this time at 5p. Ascent shares today are 3.25p and so far only £500,000 has been raised out of £800,000. The raise has been lowered to £700,000. That's the trouble when mug punters don't raise the share price above the placing price so that placees can sell out at a profit. It worked at RGM and I'm sure he is counting on it working again. The wheels are falling off. Call the doctor to orchestrate a ramp. And those twitters. Otherwise there won't be any money for a fuse on that plug in downtown Southport.

You naughty people. The arrival of Mr Parsons was supposed to be met with euphoria and panic buying of shares to raise the share price above the 5p placing price. How are the placees supposed to make money if they cannot sell the placing shares to mug punters and make a profit? It would appear a wheel has fallen off Mr Parsons chuck wagon. Expect pump and dump to engineer a higher share price. It is a sad day when an iconic entrepreneur cannot rely on his acolytes for a free ride. Shame on you all. Give your money freely. It is what he expects. You should expect nothing in return.

There were 150,000,000 shares to sell after the dump at 0.021p. Sickening. Called his doctor. Old mates. Probably something in it for him. Twitter was energised. It's what they do. I hope you weren't reeled in. When will investors learn. It's your money they've got and they want more of it. The only clean energy you will see here is the energy used to clean out your bank account.

Or he might have been told to buy to try and cover up the 150,000,000 shares sold this morning at 0.021p. Someone is selling big time and shares need to be offloaded It is a panic pump and dump. Sit on your hands.

I don't think anything is going to blow over. There is now a world bear market, coronavirus and an oil supply war. The best Echo shareholders can hope for is no bad news

I think you're correct. Drilling news that is good will have little consequence. Poor drilling news though will be like fuel to the flames. Like all small oil and gas companies the negative side is in play.

I reverse my business into Nuog because there are tax losses available. Is that all?

We give you Nuog shares, billions and billions of them in payment.

But wouldn't that just crash the share price? There are plenty of investors waiting to dump their shares already and they can't sell. How do I make money?

You can sell your billions and billions of shares. We'll do a ramp on twitter. Just what the doctor (is) ordered (to do).

In a falling market? Won't I get back less than my business is worth now? Uhhmm! Let me get back to you at the end of the year.

It's too late then.

I know.

Mr Parsons might buy some shares. When he arrived at Regency Mines he delighted in buying 723,000+ shares at 2.75p which was the placing price of his cash raise there. The RGM share price was about 4p at the time. Now, at Ascent, the share price is 3.25p which is lower than the 5p recent cash raise here. Mr Parsons knows what girders the loins of the small shareholder but probably thinks buying AST at the moment is a fool's errand. Take the hint and keep the money in your pocket. It's easier to get hold of it there and is worth the same as when you put it in.

It's a bear market on the major indices. There is an oil price war between Saudi Arabia and Russia. A new virus is laying economies low. There is no way out of this. Shares that can be sold are being sold. Worthless shares with no assets have no future. All deals are off. This share cannot be sold at the moment without collapsing the share price. The game is over. Would you prefer to be out of this share? Micro caps will be sold off over the coming months when all the reliable shares are sold. Things are going to get worse. Aren't you glad you sat on your hands and left your money in your pocket?

Andrew Dennan, CFO at Coro as well as here. Look at this deal when Coro sold its Italian assets to Zenith in Dec 2019:

" The initial £0.4 million consideration for the Disposal, payable by Zenith to the Group on Completion, will be settled through the issue of 6.7 million new Zenith Shares at an effective issue price of 6.0 pence per Zenith Share. Subject to the Italian Portfolio being disposed of achieving average daily production of 100,000 scm over a period of four successive months, a deferred consideration payment of £3.5 million will be made by Zenith to the Group through the issue of new Zenith Shares at an effective issue price equal to a 40% premium to the then prevailing Zenith share price at the time of issue".

The share price of Zenith at the time was less than 2p and falling. Today the Zen share price is 0.68p. The initial £0.4 million cash consideration is now worth £45,000. And the remainder could be valueless. He might have turned £400,000 into a ten de-bagger. Think what he is doing to the £920,000 from the two cash raises at Nuog. there might be nothing left. Cash raise 3 might be on the cards. He is not alone though. Mr Parsons is chairman at Coro as well as being a director of C4 Energy, where Mr Dennan is a lowly shareholder. And just to add to the incestuous relationships, Mr Charles Brook-Partridge is the Novum Securities man representing Zenith as joint broker. It is an intricate web. Be careful. Andrew " the shredder" Dennan might turn your money into confetti.

The initial £0.4 million consideration for the Disposal, payable by Zenith to the Group on Completion, will be settled through the issue of 6.7 million new Zenith Shares at an effective issue price of 6.0 pence per Zenith Share. Subject to the Italian Portfolio being disposed of achieving average daily production of 100,000 scm over a period of four successive months, a deferred consideration payment of £3.5 million will be made by Zenith to the Group through the issue of new Zenith Shares at an effective issue price equal to a 40% premium to the then prevailing Zenith share price at the time of issue.

0.7p and falling for Zenith. Coro might get £40,000 for the Italian interests. Follow the CFO, Andrew Dennan, over at Nuog. He can lose money for you there as well. Although he wears his C4 Energy cloak there. Perhaps he was distracted doing that job to care for shareholder interests here. But do they care? Two jobs, two salaries. However poorly sharehoder iterests are looked after

Remember the first cash raise when £500,000 was raised:
" net proceeds of the Proposed Placing will be used for short term general working capital purposes".

Quickly followed by the second £420,000 cash raise in January :

" net proceeds of the Placing will be principally used to facilitate the Company entering into contracts, when and as required, with consultants and third party due diligence providers, including legal, accounting, and technical service providers".

Net proceeds in both cases. I wonder how much of that £920,000 went in fees and to who? Nice work if you can get it. The upshot is that everyone and his dog are at the trough, billions of shares have been issued and still waiting. More of the same to come. Like football, this game is being played behind closed doors.It is very lucrative for those on the inside. You're not invited. You're only a shareholder. Will they throw out some scraps for the vultures? I doubt it. But they still perch on the roof and peck at each other to pass the time.

For the benefit of Tambo this is not investment advice.