Member Info for pyrotech

No one is saying they do!
But if you do not think that these finance houses do not work with each other then i think you will find your wrong

Your not the one they care about, if you get rich its just a by product of what happens.
these finance companies and brokers want to make as much as they can and they work together to do it

If you lose the shirt on your back, then they do not care, if you make a million , so what
What matters is how many millions they make

Do not be surprised if YA inform MM's so that price is held up to sell, and that mm's can play market before and after using spread.
They are the big money and both make money whether the price rises or falls, especially if they have prior knowledge that the price likely to move in one direction or other.

Pretty sure many here would like to know when 60m shares are about to drop on the market.

Its possible that YA inform the mm's when they are about to release millions of shares, not just here but in all companies they are involved in

That way the MM's can play with pi's knowing the future ( next, hours, days or week ahead )

Mm's only make on the difference between buy and sell, but if you know whats coming on the book, thats not showing yet you have advantage to maximise spread to play the market and maximise profit.

I have never ruled out the MM's and YA being in bed together
You do not bite the hand that feeds you.

here is my favourite quote thou
About arbitration, that came about around time Majors took an interest and within the time that flow rates have been hidden under the reasoning of extending testing and NDA

" You do not fight over an empty box"

Shorts closing
This was a recommendation to close shorts
Now if company was in trouble, you would as a broker cover that loss from buyers
Now problem would be bigger if shorts - suddenly got wiped out

Yes the brokers could go for big profit, but from where.
Imagine Exxon announced they will farm in, £400m cash and 25% profit goes to FRR
The share price rises to 3p and shorters have on average £20,000
That means they have to pay back £200000 but can not
So Brokers will take them to court, for house or whatever.
But no guarantee that a shorter has assets to cover that cost

Broker loses
Even if they gain back the money thru courts, it could take months or years
Mean while broker has the problem

Lets say the total shorts are £1m - they have a near £10m problem short term
Lenders Companies go bust

Thats the problem with shorting
If i put £20k in here, i know max i could lose is £20k
But
If i short £20k then that number i could lose is infinite

I believe (imho) that shorts advice is to close is excellent news and this is the last big throw of the dice by YA and shorter's who i believe work in collusion.

Ha ha , prods from up North and has about as much welsh in him as a Highland goat
i am only ten mins away from Cathedral Rd

Anyone going up from South Wales ?
Im doing the train from Cardiff so if any others are going and want same trains etc

In march a ii believed possibly a sub of YA had accumulated 4% shares at 628581770 shares

Today % Shares Owned: 4.40%
# of Holders: 1
Total Shares Held: 694,634,212
3 Mo. Net Change: 66,052,442

So we can see that 66,052,442 is the increase in number since i looked in March.
Now this may not be an accumulation but rather what FRR have allocated to YA, which would make it inaccurate as YA sell straight away - basically presell.

If thats the case we can see, that up to now the shares have not been allocated, or that YA sub company is not buying them.

YA do have a sub, that trades and holds shares, but we can not know if that is happening or not.
Its as likely that what reuters are reporting is shares allocated rather than holding, impossible to know.<br />There is a few days delay between allocation and reporting on reuters.
Its possible that FRR report the allocation and they then are not reporting they sold (YA)

What is interesting is that historically - which ever reason above, they are not showing the recent (theft) by YA and the number has not changed. I believe last change was after the June reporting.

t will be very interesting to see if this changes as we go into the new month
It makes that 15m seller even more intriguing

Hi Mole
your reply seems to suggest that i have said FRR are at risk of liquidation

Thats not the case
I am suggesting that YA were demanding full payment and along with their shorting crew wanted to suggest the possibility of it.

Ya have periodically wanted instability in the SP for their own needs, often prior to release of their share allocations etc.
It was very well timed that a certain person leaked news of arbitration too.

So just to make it 100% clear, i never have suggested we are facing liquidation, i just see others (YA , TW ETC ) who are playing games and a strategy that suggests a risk of it, where in reality its not a real risk, more than any other company.
Those games, suggestions etc just designed to scare holders and to manipulate the SP into a downward trend - in line with the shorts in place.

These sells currently
Could these be shorts closing still, i believe you can not just close a short early, it has to be applied for in some way, i.e you offer your short shares for sale.
I have never shorted so i am totally uneducated in how shorts get closed, so maybe someone can confirm if that is the case or not

Mole,
You were there when Zaza said about options to get rid of YA
What, in your opinion is the chance of RNS on 4th stating YA paid off bu
Either city loan
or
By Zaza
These were options being considered

If we payed YA off that would leave us in the clear regarding any potential liability and them trying to push for liquidation.
It would also still leave the possibility of YA being pursued by financial regulators.

The bonus of course being no further dilution and making it harder for shorter's to predict moves in SP

This of course would also show huge confidence in the company if either the above were forthcoming by City Institute or our Ceo

Personally i think if this was confirmed before the meeting we would be going there as pretty happy folk.

Thoughts welcomed

Anyone going from Cardiff
I am leaving cardiff and London by train following times
OUT
Thu 4 Oct 2018
Departure time13:30 Arrival time16:14 Duration
1 change 2h 44min
Journey legJourney date

RTN Thu 4 Oct 2018
Departure time 22:45 Arrival time 01:35

if any one wants to catch same trains for discussions on way / back

remember firegazer
YA supplied money and for it not only got shares, but at a discount price
What has happened to those shares?

I tell you what , Pi's brought them from YA who shorted them
So in reality what has happened is YA payed for cheep shares and sold them on at a profit to us

Lesson learnt here is a company is better off selling via primary bid if possible not YA etc

That way they go direct to shareholders without the profit making middle man who has made millions out of the company and us.

Unfortunately the YA way is the easy way, it brings in funds quickly but its also the painfull way
The problem now is YA and others work together with shorters like TW to get maximum profit

Gone are the days of a hard days graft for fair pay
Today some want to rip off as many people and get as much money as they can.

If YA acted in a responsible and fair manner it would be a good thing for them, the company and us. Unfortunately all they care about is how much they can make and how big their yearly bonus will be - Porsche or Ferrari this year sir.

Stop loses taken out and now the climb continues here back to 25% up after a fall back to 12%
Looking strong

I would be watching adjacent blocks for price movements now
The people in the know can not trade the company, but they would be very aware that adjacent operators will respond to this news.
I would suggest looking for sharp buys or sells here and in Chariot , Tullow etc
Right now two of these are looking up but only GBP significantly.

So price movements may indicate nature of news - if leaks are happening

Nothing to worry about here

I asked about YA to Zaza last meeting and still have recording

Zaza said this was end of YA with FRR
He said number of options were in place to end the share dillution by YA

They included discussions with city to pay them off
Monthly payments from revenue
and even option of him paying them off as a loan

So we had at least two options Revenue and Zaza loan to pay any or all payments
Zaza really seemed to want rid of that parasite

I would suggest as Devon said earlier, this was YA playing a game and trying to gain from this.

I hope that the seeps across the area indicate that there is a trap and reservoir that they have tapped into on the way down to TD. With multiple seeps across the whole area indicating presence of hydrocarbons, you would expect a trap to be somewhere in the 1000 -2000m zones
So i hope that is why the trading has been suspended

There is of course the chance of hitting water, but in my opinion that would be reportable with immediate effect.

My reasoning is
If a trap you may require a few days to confirm, drilling would stop and research and analysis take place

If water was hit, you get water, its clearly water and is easy to report
If we hit dry shale etc on way down, at this stage i would suspect the drill would continue before any decision. They would be maximum of 1500m down by this morning on this drill working on spud of 4th sept.
I can not be sure, but that sounds too early to decide Duster as target was a fair distance further, i would expect that option in another week or so

So this sounds like some not expected and reservoir or trap sound s most likely
Please do not make decision to buy or sell based on this post thou

Commenting on the upcoming drilling of Cormorant-1, Begg confirmed the company was on track for a September spud and added, “We are obviously keen for the well to commence as the first test of the giant scale oil potential within the block.

“No doubt ExxonMobil, who recently farmed into the immediately adjacent acreage, will be watching closely for the outcome.”

According to Wood Mackenzie, the global energy research and consultancy group that reports on all aspects of the upstream oil and gas industry, this will be one of the most watched offshore wells anywhere in the world this year.

This headline from week ago
Pancontinental receives promising data on PEL 87

It looks very promising, remember Pancontinental lose nothing on this drill financially as its paid for.

The one thing for me is should trading be restricted on companies surrounding this drill - Companies like GBP and Chariot who could be as effected as much as these.

Now i have seen CEO and over excitement on shares before waiting for results - Horsehill comes to mind .
So i am not telling people to buy in here. It a risk as is any oil exploration and the risk is of course a duster. This looks very early for duster and so more likely they hit unexpected large resorvoir at a shallower level. Hopefully this is Commercial volume and they are about to set a tone for the area.
GLA

i have been a long term holder (5 years plus) here but not alot to say for quite some time.

What i see about todays announcement by Pancontinental has to be taken in context with previous annoucements like below
Pancontinental Oil & Gas NL (ASX:PCL) has completed the first major stage of assessing the potential prospective oil resources in its 75% owned PEL 87 project in the Orange Basin, offshore Namibia.

In a highly promising development, a ‘giant-scale’ prospective oil resource potential has now been quantified by Independent Experts.

In industry terms, a ‘giant’ field has at least 500 million barrels of oil equivalent recoverable potential.

This news underlines Pancontinental’s advantageous position in Namibia where it has material interests in two large blocks, PEL 87 and PEL 37, with the latter currently being drilled to a total depth of 3830 metres.

As this news unfolded, management paid tribute to the pioneering and ongoing work of director, Barry Rushworth and long-time director Mr Ernie Myers.

Under their stewardship over the last decade, it could be argued that Pancontinental was in the top echelon of smaller industry players in identifying new prospects in relatively underexplored regions.

On this note, Pancontinental founded the PEL 37 joint venture which is in the process of drilling the highly anticipated Cormorant-1 well.

i will look what train i am booking and let you know so if your going we can travel same train etc

yes im in Cardiff

Thank you Mole
I think we are both singing from same song sheet on this one

hey guys and gals
See you all at meeting - just booked my place and will try to do another recording to share with others who can not make it - if they allow.

the good thing with recording it, is... if as previously shorters try to twist what was said we can show others facts with recording. As often is the case the word used to describe something can have a huge difference when reporting a sentence and for me recordings remove the chance of misreporting

I only mention it i i asked zaza and he confirmed 45 days after delivery for payment (last meeting)
So 45 days is fact
So we can work on that for payment amounts per rail load, when and how many

Don't go thinking 45 days is a bad thing either - its not

For instance if you delivered a product every day with payment 45 days in arrears
Then after the first 45 days - you get a payment every day

Now we also have to remember that we were selling oil prior to the reworking of these wells

Mole,
What is your thoughts on August Payment ?

What about fact that YA requested shares for both August and September (28th and 3rd)
Not sure if pre sold both

What do you make of that Mole?
Does that mean We had passed payment date for August so they wanted shares
Then in frustration at FRR, decided they would request September as shares too, due to them assuming that FRR had been late with payment for August so were likely to pay both payments in shares.

Or did they know news was coming and wanted shares to maximise the profits

The big unknown really is, was August due or over due?
Did we default?

If August was paid then FRR have to be in the clear.

My worry is we pay every month
We get paid 45 days after delivery of oil ( month and half)
How many deliveries?
If we are making 1 a month then every month we get paid - its just initial one you wait 45 days for and then every month you get a payment after the first month. Thats if every month we make delivery.

No One really wants to say payment made in full for August in cash
YJ said no payment missed, which may be true, but was August payment agreed in shares due to cashflow issues - which would cause confusion and an opportunity for YA to take advantage. Hence they decide to take September early either due to delay with August over the amount of shares, or using the situation to advantage, that if FRR have cash flow issues. they want payments early to de risk
So what was agreed for August and was it paid is crucial here

Cash flow issues may not be a big deal in big scheme of things, paying off huge loans with also paying monthly expenditure from revenue is a big step up. It does not take much for a delay of few days for your revenue to reach you. So many issues along the way, getting oil from ground, into a train you have no control over and then onto a port where train can be held up at any point for many reasons.
Suddenly FRR could find the oil arrived 7 days late and so payment 7 days late for us

We have potential issues from at the well head right to the port storage tanks.