Member Info for pijoe1212

i assume from your comments that you currently hold rkh stock and you are in profit. i realise you have a negative view on past events (which i understand), but holding stock is all about whats going to happen. i can only assume you have a positive outlook on rkh future (or to be more precise rkh SP) or you are a fool, and i dont think you are a fool.

am i correct?

you are correct 10/11 winter..

great post..and i read how much peeps posting here appreciate your posts.

since i started posting here (and you insulted me which has caused me to continue to post).. the sp has almost halved... you have been always positive on the SP and i have been negative. so far i would suggest i have called the situation correctly...

now can nuog close an MFDevco deal..and can that be cash positive within the next 4 to 5 months?

in the alternative (and i would suggest more realistic( view ..but that is a matter of opinion.

1. any income from the newf production is months away as the flow test has not started yet (pls correct me with documentary evidence on this point if i am wrong). and when it does the local partner will take the cash to offset costs incurred. hence no cash flow to nuog plc.

2. any "rerate" of the share price due to closing a deal for a producing field is currently nothing more than speculation and opinion. there is no documentary evidence of any deal close to or at financial close.

3. any company can "plan a pipeline of projects".many do claim such. pls evidence that nuog has even one project that can financially close.

you still think based on the evidence the co has the cash to the year end? you have stated this is the case on main occasions.

but now you state 11.5 months (mid dec) ? that is not 12 months! and that is on your basis of ignoring placing fees.

so can we agree cash to November at best?

1985..2018.. say 2051'ish?

not even started on the midges....EDI is fab by the way..makes london so crap for just an all around nice place to live. but the weather...we have not mentioned the east winds...

you off to demonstrate on the ujo wressle oily site..

i heard a nasty rumour malcy went to the udoggger HH site and had a pork pie..big fart later and the BBC is reporting earthquakes...all clear to me and no surprise.

charts great...compared to the rest..no expo involved. just dreams and words..and places (to be)..lol

in simple terms i have posted:

cash at bank 31st dec 2017: £570K
cash raised : £1.5M (march 2018) (gross)
warrants (thk you for this info): some £60K

cash variable current year: c.£2M

cash burn for 2017 full year and 2018 first half: lets say £185K per month...

now seadog claims the co is funded to the end of 2018.. i think not.

any views?

we all know those trade payables are largely to minty connected cos (MFDevco). so i do not see that as too concerning. unless of course the co gets a qualified audit. in my view of course!

did i miss the £60K of warrant exercise money? ops - not intentional.

so i typoed £20K cash error. i missed £60K warrant exercise cash. so £80K max error.

some one (um) called / emailed LSE to claim i posted incorrect info. who could that have been? a direct employee? an agent? ano?

interesting

O/T on the scottish weather!

i am sure you recall the 2009/10 snow when the army was called out to clear the streets. a local bbc reporter filmed the traffic on morningside. went along the lines." nothing moving here in edi except 4x 4's ...and (pause gob hanging ...) and a.. Maserati...".

yep me.. going to the airport in a snow chained QP to pick up then wife from airport (no taxis would go!). i watched the news some 2 hours later to see me drive by..(snow chains are fab by the way..best not with over 400 hp ...!)

i have posted no false information.

the cash position is clear from documentary public domain info.

cash at bank at 31st dec 2017 is clear from RNS info. cash raised via placing in march 2018 is clear from RNS info.

cash burn in year end to june 30th 2017 is clear from RNS info. cash burn in H2 2017 is clear from RNS info.

that is all statements of fact.

now unless the cash burn has decreased (and why would it have with all these deals in play etc etc) when will the cash run out if it has remained the same?

simple question to simple evidential basis of enquiry.

busy day today. nailed a current day job scheme. debated with the (mainly) good guys on the stormey bb..discussed posting with admin on the nuog bb..all good!

wassatt..i guess you will read in the morning..gl at hozi.

LOL.. my point proven?..1985 was 33 years ago..!

mind you 2007 or was it 2008 (!) was great weather from start to finish.. i recall the edi fringe was warm and dry..(and fun) for weeks on end.

i dont hate nuog. fact.

i hate rampers and co's that are potentially ramping.

now i am not saying nuog are ramping- in fact compared to others, within my contemplation (for example ukog), it is within my contemplation nuog are just inexperienced and not very good...

a little aside. some few years back i represented pi shareholders in a debt for equity transaction. i questioned part of the numbers (to the tune of $100M). i was correct, and some of the largest II's operating in the oily space acknowledged this. i like numbers (esp forward projections)! (total transaction value was more than $1.5bn)

https://www.bbc.co.uk/news/uk-scotland-44725830

never like this when i was there.....

My view is that is the very last refuge of the great uninvested when none of their other tactics are working. All complete nonsense of course and even the most cursory view of the accounts, cash and burn rate and you can see that they have sufficient cash until at least the end of the year.

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so you state. can you pls evidence this from the public domain info?

Is rkh worth buying.? Yep in my view. We have a number of downside risks:
- oil price
- pmo funding ability (this is nothing to do with shareholders and all to do with pmo covenants on the debt and the extent and timing of the debt pmo need to sanction). I have posted before I think the drilling phase is the key one for pmo to put in cash.
- FIG doing all required (infra-structure / tax rates etc). this looks to me to be progressing.