Member Info for PC01

Dutch - i think someone who has gathered 8% of the company’s equity deserves a seat on the board. As someone who to this idiot comes across as deeply invested emotionally in CPX I would suggest you ask for a board seat and I would lend my weight behind it.
it will be hard for them to refuse given Exxon (i think) gave 2 seats to 2 investors who spoke for less than 0.5% mins f the company. Appreciate Exxon a might larger but you get my gist.
Go for board representation!

TD - i note your frustration and indeed emailed the company with similar concerns to which i have had no response…i own c 5mm shares for full colour and will think about your proposal.
I will make one point - the company obv raised cash recently and sold director shares.Small PI Existing shareholders were not asked to partake but if i was asked to invest the 2 questions i’d have asked would be
Why do you need the cash
Why are directors selling here if the outlook is so positive?
Without satisfactory answers to those Qs i would not support the fund raising…ergo i have to assume satisfaction was given?
May be in touch via email.
Enjoy the bank holiday all.

Any idea what that sizeable trade is all about? Over 1% of the company changing hands?

Dick - I was being slightly mischievous with my 50mm barrels - rather ins response to the nay sayers who think there is no oil there at all. Personally, I think tis likely there is a stack of the stuff down there that will keep us in $$ for many years to come if we can remain independent. Ditto my OIL px c $80 as I think very decent chance oil is > $120 in the coming years...

Agreed PhilB - seems like a rather more business focussed board being put in place with amuch wider 'reach'. We've talked about being patient for a while - if you can count years as a while! - but it does seem 2021/22 will be the make or break for this company. Quite like the upside / downside potential here. £58m mkt cap not pricing in much!

Wobble - you ask a good question …my own view is with interest rates so low CPX could well have borrowed money to fund future expansion rather than yet another dilution for their long suffering shareholders. I rarely agree with OS ( i still owe him a £10er!) but if this company truly believed it was in the verge of becoming FCF +ve then i believe it could quite easily have raised - what AUD$4mm - with a loan facility with one of the Aussie banks who are awash with cash!
Whilst i believe very much in the company and it’s prospects i am deeply disheartened by this cap raise, unaccompanied as it was with any update on how general business is progressing so that it’s smaller investors can take some heart. But no - as per my comment last night - £3mm raised with not a glance at existing shareholders.
Still v v grumpy.

1) I’m still grumpy
2) We’ve been diluted
3) the placing has been done I gather
4) New investors involved
5) And before any of u ask, I still own 2% of this company and no i was not asked if i’d be part of any further raise.
6) See 1).
7) I’ve said it before - will say it again. It’s a great little company but god I’d like comms to improve!
8) Time for a wee dram to solve points 1 n 6!
Nite all.

Grrrrr! As I said in my post, it would have been good to have some up to date numbers to at least alleviate the irritation.

Whilst I understand the directors don't get a salary and are paid in stock - as we know - it is weird that they are happy to sell at 5.5p which was where the SP was when they exercised those options. I would also have liked a few lines confirming how the business is going. Not overly impressed, indeed slightly grumpy.

Wonder if anyone can spread light - but I gather the recent heavy seller was the ex-wife of a company director who was a 'get me out of here asap' seller of shares given to her in the divorce courts? Not sure if true, but certainly stacks up given price action after recent positive news. Anyway, seems all cleared now and a nice looking technical low put in c £1.60.

Its a very unhappy little share price and more than a few unhappy shareholders who want daily assurance that all is progressing well. However, sadly, I'm not sure the board can even comment on how talks are going given they will be in discussions with - hopefully - more than interested party. Banks certainly won't become involved until there is an asset producing income to pay the loan.
What we do know is - as Dick has mentioned many times - not just the company but plenty of outside 'experts' have advised there is plenty of oil down there, of a decent quality and plenty of potential discoveries in the area as well. And with OIL price set to make new highs given the structural deficit that it will find itself next year, then its hard to believe some of the excess cash washing around the world won't have a good look here. Raided the piggy bank last week, will do some mroe tomorrow.

that sales n buys are misreported...I bought 2 parcels of shares at £1.30, 10k and 9+k - reported as sales...not that it matters....there seems to be plenty of stock about.

I've been a way for a few days and had time to read thru all these posts...whilst I am in the 'Dick-adoration' camp, I will have to take issue with your view Chessman. There is indeed plenty of doubt that Dick is right - if there was absolutely no doubt, the SP would be considerably higher! The current valuations however would appear to have no basis for any optimism whatsoever about the future. Which is exactly the time I like to buy. So I will. again! If I liked it at £2, and £1.60 I must love it £1.35 when the OIL px is at $75 and going higher. Just do the numbers when oil reaches $100 which it will next year as we go into structural deficit for the first time ever.

Hi James - thanks for asking! I’m alive, poorer like all of us but have seen or heard nothing to change any of my long term views. A wise man once said ‘it’s better to say nothing and be thought a fo than to open ones mouth and prove it!’.
Nothing to say! All remains on track i believe!

VK - i must take issue with your ‘the stock mkt is very rarely wrong’ comment! The Dow fell 930pts in 3 hours on monday since when it has regained all those losses. The market is always wrong until it finds equilibrium. At the moment the small investors with the patience of a gnat are betting no farm out. They have as much idea as u / I / Dick / Ajax or any other halfwit! Priced for failure and unbuyable for an immediate 100-300% uplift in the event of a farm out announcement or down to 50p on a ‘sorry couldn’t agree so well go it alone’ announcement! You pays your money….but plse no lectures on the mkt always being right - it isn’t!

I asked a while back what the potential catalysts for the SP might be and there were a few helpful suggestions and thoughts...today's results RNS do little to change my view that this is a long term sleeper...neither here nor there...got money to keep going for another year, signed some new partnerships but no news on royalty income there and resumption of the hrpc programme after encephalitis rather than anything more drastic. Its all fine and I'm truly not worried by these results but I guess I have to ask again, what are the catalysts for a re-rate? Think I might have to put my share certs into a time capsule :-)!

Dick your humour is improving. I hope that coincides with an uptick in your health as well.

...quite a lot of stock trading. In response to your comment Abatt, at least they are not all selling! Having been fortunate to work in the city for a few years and know a little about fund management, you can never tell why a fund suddenly sells...but maybe one of them picked up a load of stock in the placing and there has been a change of ESG mandate, or the fund manager has moved on or simply a lack of news and boredom. Like all of us, fund managers need to make money and he might have wanted to invest these funds in something in which he had more confidence. But as Dick said, not long now....and with the OIL px staring at the doors of $80 (and beyond it seems) I remain a very - I would say happy but will settle for large - holder.

James - that is a very good question! He is no change out of 60 for sure. Given he doesn't take a salary but is granted shares that he takes in lieu he and the rest of the executive office have a very strong incentive to see SP appreciation. The current market cap of just £33mm with earnings next year f'cast to be c £9mm suggests a very undemanding multiple. Sadly there are so many shares on AIM that are massively undervalued (I seem to own most of them!) - but yes, your implication that he needs to get cracking is a fair one. As i have posted a few times, apart from a random IP win which is not forecastable, the next major announcement has to be how the company plans to fulfil demand given we believe the factory in Sydney is at or close to capacity. I still very much hope we will see a loan facility put in place so that we can get some leverage into the company. That, i truly believe, will be when value will out.

well if we lose 0.3p / day, then about 25 business days should do it....its all a bit tragic. Low volume, low interest and a lot of holders who are so bored with the price action that they will sell out into any uptick, thus prolonging the agony! For those of a more optimistic bent, and longer time scale, its hard to believe that buying at these levels won't be heartily rewarded in the years to come given the ongoing growth of the I-o-T mkt and CPX's prime position within. But doubts must persist, as is always the case, when the SP drips ever lower and that 3mm share buy order the other day is long forgotten.