Member Info for pijoe1212

Lovely rns...made me smile.. esp the bit about bbm’s emailing threats and insults to Arso....10 fold increase in co not being suspended in Oct as a I have predicted. But the chance was close to a dead cert in my view..so only a 92% chance now?

Txted mate to see if awake...could be asleep already!!!

Seriously seadog I am comparing the “new opportunity” to Newfoundland. The difference is only any new op has been guided by today’s podcast as flow tested. ( I have noted time and place and recorded to secure storage).
The talk about producing asset and debt funding and cash flow is not supported by the prior rns’s and to be frank distroyed by today’s company podcast.

Seadog...contingent resource worth even thinking about will have been flow tested ( anything else is a pure punt). The statement made in the rns you quote is 100% consistent with a undeveloped contingent opportunity ( in the same way as Newfoundland is).

So the part arround 11 mins to 13 mins (after talking about hurricane’s Lancaster eps) makes it clear the deals under consideration are contingent resources into producing reserves and the time this takes ( years).

The posts on here about producing assets are at the opposite end of the development spectrum. What the M.D. of mfdevco describes in the interview is nothing more than a std farmin to a contingent resource opportunity.

MajorMinor...interesting opinion. In my opinion sub 0.8p and more like sub 0.5p is more likely. But clearly neither you nor I know what will happen. We will see as things play out over the next few months.

I had to unfiltered Biffadog to understand your posts. I have only two peeps on filter- Heid on the Ukog bb and Biffadog. Heid has never posted anything worth reading. Biffa used to be a normal poster posting stuff worth reading and stuff not worth reading ( much like most of us!). Then some months / weeks back he took to posting only insults and sarcastic comments so I filtered him - why his posting changed I do not know ( but suspect the SOB influence).

Recife has posted views on Ukog. I would add there are do many further negatives on Ukog it is difficult to know where to start. Of course I refer to them as udogger for good reason.

Wassatt. Yes I can but not on here. Will pass comment via a mate for onward transfer!

Majorminor. Apologies to you. you did reply but I missed it first time. What’s your view on likely timing?

I would ask again when the cash will run out given no income from operations.

Not seen that post as I do not post or read lf without prompting from here ( you!). Would be good to debate the numbers but clearly we have similar views and look to assess tangible future values with evidence as a corner stone. Now the question all should be asking at the current time is future value ( which on eps success which must be higher) and what will trigger the close in current to future value... focus has to be on the what?

Ricfle...once again I find myself agreeing with you, as I think I have on many occasions.

The superior opinion board ( sob shall we call it) is nothing more than a means of feeding support to those who need it. I have seen it several times before ( Ctag / Ukog) - it does not end well in my experience.

I see sipp noting its function as being a means to communicate “when the hoards arrive”. Um ... i assume he means rampers of micro cap aim stocks that infest lse bb’s. I would put it to all that they can all arrive and it will make no difference to a £1bn mcap co ( not that they will arrive as it just does not work like that in my view).

So meanwhile SOB gets info not posted here...great but does anyone act on it?

Why do some SOBs want to know when I have bought or sold? I would have thought their collective knowledge would make such info irrelevant.

It’s an appraisal well not an expo well. The issue is the expenditure per bl of resource.

Can anyone help me understand how long the companies cash will last at recent cash burn rates?

Also could anyone confirm the only source of cash available to the company is via placing?

My understanding of the strategy is to fund low risk high return opportunities while they are available ( as now) at low cost ( due to few Ii cap ex funders). Successful ventures would be turned into cash ( in one form or another) via sale / farmout and the cash recycled back into new ventures. I do not see that s take over would ever be likely unless one asset become so dominant to the value and it made tax sense to buy the co rather than that one asset. But this cycle would break if the new venture opportunity pricing increased ( and hence the risk reward balanced moved). One of the dirs put this in a recent interview very clearly. In many ways it is more like a closed ended fund but with far more flexibility.

“This was valued at 26p” - yep by you in a very spurious calc. Now it gets quoted as a fact by you. Um...speaks volumes....

Anyway I read another “ consortium” will be formed...great current one has done as much as energi- sfa

As the prior rns stated pvf have not got the cash to undertake the flow tests!

Sorry read creditors not debtors in my prior post

The company are being very helpful to lth. They have telegraphed loud and clear the real risks to equity holders and have provided a window for peeps to exit ( or stay in known the extent of the risks). That seems to me to be better than some aim cos in recent past.

I posted about the potential for Ast to delist based on the rns statements. To me it is clear:
1. The co will spend what funds it has to maintain ops ( without cap ex).
2. The co will spend what funds it has to maintain the listing.
3. The co will run out of cash by year end.

Now the key point is the directors have a legal duty to protect the debtors interests ahead of shareholders interests. Like it or not this is the law.

So my point posted yesterday about delisting by October is a simple one - the co will reach a point in time when they can not justify the listing costs to the creditors ( on going into admin). If they expend the cash maintaining the listing when it is clear this deprives creditors for due cash funds then it potentially comes out of the directors own pockets. They will not in my opinion ( and I gave meet and spoken with ch) risk this. Hence my view suspension and de listing in advance of year end unless Farmin or some other corporate action occurs.

To answer your question- look at the charts for Pmg & Rkh at the time Hur moved up 60%. I hold both in core pot and used my trading money to add to holdings on a temp basis. Gain on the trading pot money ( which could have gone into Hur stock exceeded60%) I have posted this before.