Member Info for redwineday

Harel,

Mate I really hope you are right as I have lost enough on this already and could be doing with some good news. But I fear you are wearing rose tinted specs.

The solar investment was totally left field and looks distinctly odd to me. Maybe somebody's brother in law or something was the reason. Whatever it bears no relation to ECO's investment case. Its like investing in Lloyds because they are a large cap bank and then they buy a pawn shop with the reasoning that they both lend money. Then we have JHI which looks like a punt in doubling down as the wheel is spinning and that smacks of gambler mentality

The right thing thing to do was nothing. Conserve cash and wait for Orinduik. Thats what his shareholders thought they were getting when they invested. Instead we got money placed in unrelated investments and a throw of the dice.

Gils last statement which I paraphrase "its the oil business and s**t happens blah blah" was really poor. His job is to manage risk, not to ladle it on. If Sapote is a duster ECO will p****d 16m up against the wall for nothing.

I hope Africa Oil will be taking him out if this is the case.

I think it will be quiet for a good few weeks. We are unlikely to hear anything from the company until September when the H1 results will be due. If I were the CEO I would want as much time as possible to understand the outlook before having to comment. SP may will keep drifting as PIs lose interest.

I think someone is still buying in the background. MM are discouraging buys.

Im starting to come round to the idea that there might be bid coming. They can have mine for 120p

It's irrelevant. Only thing that matters is what is reported at the end of the month. Its also incomprehensible versus their previous target prices. Just before Covid they were forecasting 120p when the company had 45m worth of debt an prices were lower. Honestly I could make a better guess than them and I'm not very good!

The Swiss distributor doesn’t even mention Feraccru or Shield on their website as a product or manufacturer they represent.

Switzerland represents 15% of the European market and is very well funded (virtually all treatment is paid) and the health system is quite similar to the US model.

Might be wrong or seem much but indicates to me, along with Nordine slow start, that STX may have “sales issues” in Europe. I know from experience in managing distribution networks that you simply can’t appoint distributors and walk away thinking that’s done and it will look after itself. My feeling is that is what has happened here.

I hope our new CEO is thinking about how to inject life into the European sales effort.

Explains the MM manoeuvring. Spread has closed this morning but still finding it difficult to buy. Hopefully this means good news!

Another 3 weeks to wait. Last years was on July 30. Then we get to see what the price rises have translated to. Will be a big day for GEM in my view. If they don't burst the net I would be really disappointed!

Effectively the field has been appropriated by the state and handed over to Pemex, Mexico turning into Venezuela. Bad news for HBR.

https://www.ft.com/content/8ee90e5a-c9e4-4f11-b8c1-d1e57bd39a4b

Gil has had his trousers taken down. I agree with the other posters, I can see a capital raise to finance Orinduik wells unless he pulls something out of the bag. Shareholders paying for his impatience.

1bn boe is a duster and it's a glitch, lol...

Thought about buying some more this morning but was presented wiht a 6% spread, so kept my hands in my pockets

Thanks

As they say, it takes different views to make a market!

I don't doubt LOOK is undervalued but expecting a re-rate when the news is all out there is not logical to me or others it seems as the SP is going down. Other news is needed for it to go up form here.

I agree its undervalued. Thats why I'm still here. The opposite of my moaning is that because of all of the undervaluation in my view there is a good chance that it will get taken out. If TB gets offered the right price Its a goner and I would imagine he is well hacked off. If a PE company can get him to agree, its a done deal. I wonder what his average holding price is.

Should have also mentioned the CFO position has been open for a year. Why?

There is a reason they have not found a new Chairman. I believe its because they cant find anyone or at least anyone credible to step into the mess. Ex owner with massive stake, share suspensions, auditors quitting etc etc etc. If you were a credible candidate I guess you would be thinking about your reputation. Made me laugh in the annual report Phil White again saying something that is patently not the case "The recruitment process for my successor is progressing as planned and I will step down when an appointment is confirmed later this year". No it's not, it's one year late and you should be long gone. Disingenuous at best and par for the course.

The reason the SP is where it is is not about the market, or the underlying assets or even the potential. Its because the current BoD cant be trusted.

Or JHI take a stake in ECO via the second round to get Oriduik exposure?

Also, it could be BDO saying, we are not signing off until this is no longer material or book Xm to cover it.

If you look at the link url it says "not for RNS". `Smart cookies at investor relations lol.

I think the issue with the could be related to provisions that they made or would have to make if it was not settled. Maybe not material in cash but would have to be mentioned in the accounts.

Of course maybe nothing at all to do with it. Anyway we shall see at 7.00am

Returning to my theme though how could the BoD allow this to happen. Shocking really for a plc.

Its a bad day when you cant pay Edison to ramp it!

Perhaps the delay has to do with this

https://www.lookersplc.com/media/10469/430-for-website-not-rns.pdf