Member Info for PC01

Yes you are right...but say they only spend $15mm...oh well, we're pontificating I guess...

I think 'enticement' is a harsh word...it maybe a pathetic premium, but the company is effectively saying to all those that bailed San Leon out at 45p in the last public cash raise, here you go you can now sell at 46p... there is no enforcement here, we are all free to do as we wish...but those more brighter and capable of seeing the bigger picture than I have been ruminating for a while that this company has plenty more upside than 46p in the weeks and months to come...I've been ridiculously slow to see it...time will tell...

What happens on the day post-tender announcement when the company says it managed to buy just 6% of what they wanted (say) at 46p? Does it then conduct daily market operations (I think a company can only buy 10% of the volume on any one day) until it spends its $30mm? because if that's the case, then I have been even more stupid than normal...in a thin and illiquid market, with the idiots at Capital-sell-at-any-price gone, if the market realises the company needs to buy a further $10mm of stock, plus any future cash returns...I have a feeling this is one of those light bulb moments...sorry.

TT - you should read - 'Well MM - I bought c 200k far too easily...every time i lifted 6p...the offer moved then hey presto back it came...so no real need to show all my cards I reckoned.'...rather than throw arrows at everyone all the time I suggest you relax a bit...as per my post, I am extraordinarily exposed to this company so trust me, desire to deramp is de minimis...but equally we can only point out the blindingly obvious...

Well MM - I bought c 200k far too easily...every time i lifted 6p...the offer moved then hey presto back it came...so no real need to show all my cards I reckoned...thus why I think there is a large and persistent seller...well the price action kinda reflects that...to be perfectly honest, I have a massively outsized position in CPX...counting all holdings today across Sipps and ISAs etc, i own closer to 2% than 1% of this company....as per a post a while back, it'll either make for a cracking year or really ****e one.
I HAVE to believe there is news afoot...purely because of the fund raise and the forward looking comments and whilst I get the 'uncertainties' that was the one red flag which I think has caused many smaller investors to lose the will (as well as the promise of jam yet again tomorrow)...so its a storm to ride out, there's not much technical support for it if 5.8p fails to hold over the next few days...until we get to 3.85p... and if we slide down there, this board will be asking for the Samaritans helpline methinks!

We had an old ditty in the city ... to the tune of catch a falling star....

catch a falling knife,
ooops there goes my finger
should have let it trade away...

The gist I guess being there is patently a persistent seller out in the wings and until he's done all our little and not so little buys are making not much of a dent...I'd almost rather the market maker said 'I have 5 million shares for sale, who wants them'...get a clearing level and move on...but this persistent drip drip drip unnerves the steeliest of investors! Fair value is hard to put a value on...I guess cash in bank is the low, which would be mighty hard to swallow...so lets see what April brings...and fingers crossed...

Oh dear : to quote 'mr.older several people have searched high and low for that information in the public domain but have not foud anything at all. if it is a fact then only people who are assosiated with san leon or capital know at the moment if it so san leon will issue a rns soon. i am waiting with intrest and patiance.'

I do so enjoy this sport...When all is done and dusted, can I suggest we patient ones meet for a glass of something..I would bring a case of extremely good New Zealand Pinot if only someone could find master B7 who seems to have completely disappeared...still it goes well with all sorts of pie, humble or otherwise...:-)

So long as CPX remains a going concern......?....hope and greed, FOMO (the fear of missing out) is what drives all of our investments (or does in my case)...but like you Sarniasharie, I too have been buying rather more than I should...should know better...
PS 20p number driven by a conversation I had with my 'city' man...who said they'd turned down an informal bid between 20-25p about 2 years ago (before I had started investing)...but their inability to sell their product effectively remains my concern! Enough concerns for now!

Ha, that might be because most of us are rather bored of being humped by the ongoing death by a thousand slow cuts!! Not much to say that hasn't been said, sadly...we're rather short momentum / motivation and what's interesting is that the company is being given no credit despite being in its strongest financial position allied with deals done and pipeline ...which i reckon is pretty fair given the jam tomorrow we have been spoonfed for the past 18 months. Still have 20p year end my target, still think most likely because CPX no longer an independent company but equally expecting quite a lot from April's update. have I covered all my bases?? :-)

Sorry Parkez, don't know...monthly be 12x better than annually!

I'm posting too much for which apologies...but put it this way...you run a 10bn portfolio of shares and you want to sell them and buy bonds...do you go to your small regional stock broker or do you go to Goldman? I own shares in a company called wandisco and they did a cap raise (for once at a 10% premium to the SP at the time, a rare gift)...and it appears that fund raising was to give comfort to their major clients (Amazon / Google etc) that they had the balance sheet to deliver on their promises...if i was a large auto manufacturer and I wanted CPX IP, my major concern would be whether the company could deliver on its manufacturing capability...so you r right re IP. but I think the company is trying to generate sales now rather than license IP...i think its as simple as that.

There is one really good word you use in your post MM....clutching...which is roughly what I'm doing with all the straws scattered around! I hope I have been consistent(in my postings rather than boring) when i have said this company lacks a decent sales effort...and each interim we see confirms that...which is why I was musing that the endgame - as per Hayashi's comments today - is likely to be a takeover by someone who can shift the product. I know I bang on, but the fund raising at 8.5p which is increasingly looking like my worst trade of the past 6 months if only because I could have spent the 50k I shoved in down here and got 25% more stock for my pains...but that fund raising was done specifically to increase production...which is the only thing in the interims I was able to hang my hat on...'the board will be looking ...or words to that effect...to instruct the company on how to increase production'...now you only increase production if you have demand...so to answer your q MM, I have no knowledge whatsoever of future contract announcements but its fair to say I expect more than a few positive announcements over the coming few weeks and months otherwise the need for that fund raising might need a more thorough examination. To wit - the offering I received had this line :
'The CEO has stated that the raise will give them the “flexibility” to increase capacity as they currently have no plans to do so. An extra £3m would potentially allow them to produce another 5m units (against current production of about 2m units), estimated at between $7-10m of additional revenue. Raising a smaller sum of around £2m would possibly mean an extra 3.5-4m units.'
Hope this helps.

I gather AK coming over to UK early April...have to believe he'll have some news for when he sits down with the 2 big investors...who'll be ever so politely inquiring as to what the **** is going on with their investment...as might I!

ok lifted a measly £5k at 6.20....come in the water's warm...

For what its worth, just tried to lift £15k at 6.1 for my SIPP, no offer...then £10k...no offer...then £5k...no offer...so a right old game going on here ...keep the faith and I'll keep trying to buy some stock.

There’s a lot of nonsense bile and vitriol posted on here! The average size of trades tells me mostly private investors bored of the CPXstory and promise of jam sometime and selling up. Market making in a falling market is easy provided you have a buyer on the side so I also think there’s a buyer working ...but who knows? ..anyway the twitchy bit is it looks like I’m going to have to man up at 6p in the near future...
So in the interests of complete transparency if you see an order for 500,000 at 6p that’s me...

It’s quite funny Afamefuna how you write so much in pidgin African with the nice usage of Mr this and Mr that...but always let yourself down with the English public school boy hit...today’s epilogue from you ending ‘nice work if you can get it’ most certainly not African in anyway shape or form ...one day you will have to let us know who you really are - my bet is Sister8 ...but it’s very funny to read!
Ps agreed on that Capital transaction...surely they’d have to issue an RNS revealing the sale of their stake!!?

TM - i'm still struggling to understand why you have such a concern over CFI's share holding? The volume of shares trades monday, tuesday and so far today total in excess of 1million. As I said in a previous post, 360k or even 720k shares is nothing if the story is good.
If your worries, however, about JOG are that there isn't much oil, there's no hope for secondary drills and Equinor are going to give up, move on and tell JOG to find a new partner to buy their stake, then that's fine...it's a bet, no more no less as no one knows what this drill will tell us. But to stress on and on and on about a measly amount of shares that may or may not have been sold or placed strikes me as a waste of your time (for banging on about it) and my time (for reading it)! This board has - until recently - been an oasis of calm and whilst a good kick up the ar5e keeps us all on our toes, the repetitive nature of your kicking is becoming, dare I say it, somewhat tiresome.

I would disagree GB - I think JOG is a 50% loss vs 500% win...if we come in at 25mm barrels, then its not on Equinor's radar for some time...it makes JOG money but there'll be a lot of time etc spent negotiating the best exit...should we get the upper end, then confidence in Cortina and Meribel plus Buchan potential then adds the fireworks...
So Sarah, be prepared to lose half of what you invest (the value of JOG from a cash in the bank plus as per above) and hope for the bluesky scenario...

I agree - equally I am pretty sure that's what I was told the 8.5p share raising was for :-)! Seems to have settled down c 7p...which is where we were end of last week...one day, Rodney...just not today! GLA.