Member Info for RichTheNewbie

That's rather embarrassing....again....perhaps CH is just the fall guy?

Lol CMG. They're all too busy here insulting me and somehow getting away with not being banned.

All the information was not known. This is the point. The reality of the situation performance of it had been hidden for a long time. Even if it was completely resolved I wouldn't trust any of the company statements or predictions. Trust is important. A lot of you try to claim everything is negative, or bitter, when in fact the simple fact is you won't even acknowledge the chance of this not going well, or them diluting, without chiming in with personal attacks. This is not negative it's the reality of the situation. Your failure to acknowledge this just shows how disconnected with reality you are and how unsure of your position you are. Anyone comfortable with their position would know there's a chance of these things and not bat an eyelid. The reactions say everything.

Not2sure - I change my views as the evidence changes. Not doing so, like many of you, is just being like an ostrich and sticking your head in the sand hoping for the best. Although I wish many of you could take a leaf out of the ostriches book as what you're doing insult is just shouting at anyone who suggesting there's a chance exactly as you're hoping. It's not just one blip. It's the management's credibility, obfuscating what was going on with PG11a for a long time, the therefore the trust in their figures, the suggestion they can't get debt for development - so where else are they going to get the money? And so on and so forth.

Downsey - people will not acknowledge simple facts here because they don't want to hear them. Has Colin really said he won't dilute? Did he make some vague statement about not needing to right now? The strategic review tells you that really it's on the cards if they don't get a bid in the strategic review. The resolutions authorising it tell you it's on the cards if they don't get a bid in the strategic review. To pretend otherwise is kidding yourself or others. Besides, it's not as if CH hasn't got previous for saying no dilution needed, then diluting immediately after......as that's what people were still moaning about when I first invested!

Rosewall - it's not unusual to ask for an increase in share numbers. It's unusual to ask for authorisation on such a scale that it doubles the shares in issue. It's not normal because shareholders in most companies would throw a fit.

It will be interesting to see what happens with that scott. I have a feeling they'll pass the resolutions unless there's a big effort by PIs not to (seen a few people say they'll vote against but not many).

Always fun to see who goes nuts at hearing the simple truth. Good to see there's still a few people trying to claim white is black. It's simply not standard in most companies to ask for authorisation for giant dilution a the AGM and for shareholders to forgo their standard rights. Anyone claiming otherwise is simply trying to hoodwink people (and dishing insults out while they do it).

They want authorisation to dilute you all to buggery if they don't manage to get a bid/deal after this "strategic review" (resolutions 5 and 6) Basically. To be fair they've been relatively up front about that for an AIM company as, in the RNS about the "strategic review", the told you "the Board has concluded that the planned further development of the Petišovci project, and the potential diversification into other regional projects, is currently not an option available to the Company without the potential of significant dilution for shareholders." Doesn't take a genius therefore to work out one of the likely options if no bid comes.....they're not just putting in these resolutions as a wind-up!

Joeman1 - Enquest got their interest in Petisovci from buying Stratic. However they only wanted Stratic for their North Sea licences. That's what Enquest is focussed on. Enquest immediately got rid of Petisovci having acquired Stratic (was sold to AST only a month after them having bought Stratic).

Lol. Enquest are the ones who sold this to AST you turnip. They got rid of it not wanted to buy it. That's just a paragraph of a BMD ramp (he was suggesting it was IRG, now known as Echo, but I wouldn't believe a single word he says).

Lol.

If you get 4-5p it'll be a miracle. If the market thought that was remotely likely this wouldn't be trading at 0.88p.

If you believe that you'll believe anything.

It's not really up to CH anymore......it's up to outside parties. If they get offered a good deal/bid then it'll probably go up. If they don't it'll probably go down. CH can dangle carrots in the meantime, try to keep people interested etc, but it's all just treading water until they announce the results of their multi-million pound episode of deal or no deal.

Mysteron - Lol, being an AIM CEO makes you trustworthy? That's comedy gold. My own credentials in terms of trust are better than you could possibly imagine regardless of what you think. Snaffer - I'm not surprised you imagine these sort of things.

(-with much accuracy)

I wouldn't trust a CH estimate of value for a second. The way things have gone I have no confidence he can accurately assess with much accuracy the productivity, costs, and therefore profitability, of the field.

That's true Not2sure - if you were using it as a parallel you could say they'd give up at a higher price now potentially. Was just highlighting the direct comparison in SP numbers doesn't really help.

When the SP had reached 8p, and they gave up, there were about 157million shares in issue. Therefore they gave up before, or around, the time the MCAP had reached £12.5m This is about half the current MCAP. If they gave up at the same equivalent price now they'd be giving up at 0.55p