Member Info for RichTheNewbie

No danger of flooding? Not sure what you meant there but it's a poor choice of words when PG11a is more like a fountain than a well at the moment.....

westie50 - people just blame shorters (or me for saying there's a chance it'll go down :p) when they can't accept everything is down to the actions of the BoD, the performance of the wells, and eastern european bureaucracy.

stockdale - not really. It's just standard practice. They have to sign it to have a look at the data. They may then decide they have no interest. It's really an indication of virtually nothing bar the interest to have a look.

westie50 - yes. That's the nub of the matter now. If you're lucky then the asset/data looks good to multiple other parties and you get competing offers. If you're not lucky then it's been over-hyped and nobody is interested or only interested in putting in offers you'd consider bad. Only time will tell.

We can quibble over the analogy westie50 but you understand the principle. They're just words that anyone in his shoes would likely say. We'll have to wait and see what comes of it - neither of us know. If everything's all it's cracked up to be there's a reasonable chance this could still do well. Personally I'm more skeptical about that now hence not taking the chance. Should be interesting to see what happens.

New80 - It's probably little different from him having a meeting with them saying we're stuck for cash to develop things further, so we're going to have a tout round (strategic review) for someone else who can help us out with funding development, and they said "fair enough". After all, what do they really care, as long as it gets funded, whether it's by AST selling out completely, or selling a big chunk in return for cash, etc.

westie50 - I believe him to an extent with regards "interested parties". It's suitably vague language that I would use in his shoes. It's pretty meaningless and you can say that on the basis of a few chats. Same as a car salesman saying there's plenty of interest in the car he's just shown several people round. None of them might buy it or be seriously interested at the price he's selling it at. I'm not saying all is lost, as I keep repeating, it could easily go either way. However if you read 95% of the posts on here you'd think it can only go up and aren't really reflective of the situation where the company need money, that they don't have, and are trying to attract bids. It's not a great situation but could still turn out OK.

The downside of a new management team is they might come in and review things and say that they don't think the previous estimates of profitability/costs/recoverability were that great and it's not all it was hyped up to be. You also need to consider that it's not "at worst a JV". There might be nobody who makes an offer and then it's big dilution time. If it was such a no-brainer to buy in from here, and that it's bound to go up soon, everyone would be buying in, yet the vast majority of AIM investors are now giving it a wide berth. There is a reason for that. There's no problem with being optimistic, and it might rise, but it's a long way from guaranteed to go up or get any kind of deal.

stockdale - yes, that's why I said overall, as that's what matters. I disagree it's all about the money. The strategic review is imo fairly clearly a desperate resort because things haven't gone well and they need development money. Nelly71 - exactly, I'm not saying anything outrageous, they've diluted a lot and consolidated to make it look better. That's just a fact and I don't know why others are trying to pretend otherwise. Doublingup - yes I've read all the news and reports and I know what I think. I've made my own assessment. You might disagree but I trust my own judgement over yours I'm afraid.

Nelly71 - Yes it is. Consolidation hides the number of shares in issue as a result of dilution that's all. Doublingup - It's questionable whether it's generating cash overall at the moment (they may still be operating at an overall loss). Either way it's not enough to progress things hence the strategic review. If they were generating lots of money, and could therefore self-fund, there would be no point in it.

Lol, are you seriously trying to say AST don't dilute frequently!? Have you seen how many shares are in issue!? They had 1.7billion in issue in late 2015. Then consolidated to make that 157,205,538 shares in issue. They now have 2.2billion in issue! In an unconsolidated terms that's 44 BILLION shares in issue (20*2.2bn). Suggesting they don't dilute often means you're either stupid, mad, or trying to fool people with total nonsense!

Of course companies on AIM dilute. Some of them do it infrequently and use the money well. Others like AST do it frequently and squander it.

Doesn't really matter now as the assets are so different that it's like comparing two different companies. Well ignoring the incessant dilution that's remained constant ;)

That's also misleading though stockdale. It just looks like that price because of consolidation. It was really twenty times lower at the time.

It wasn't �6 back then. It was about 4-10p.

Well if you only chime in with rude posts that's what you should expect in return Monarch. Try being a bit more adult for once in your life.

Like FX_Wizard says - only you can decide if it's a good or bad buy now. You'll always find most people on any share's messageboard telling you to buy, whether because they think it will go up, or because they want you to buy in order to help it go up. Fact is nobody knows how this is going to turn out. They might get a good deal/bid of some sort and do well and they might not and not do well. The field and wells might have all the potential they say or it might not. In the short term I don't think anyone would be extremely confident in saying it's definitely going up to 1.2p or definitely going back to 0.8p. I'd probably say the latter is fractionally more likely but others would probably say it's the former. None of us really know.

Not sure what you're saying Carrots.....it looks like the bid was 1p and 1.05p at the time of the trade. Even if the bid was 0.95p and the ask was 1p.....then the buy at 1.04p would still be normal and just at a bit of premium because it was large. It doesn't look unreasonable.

It just seems that way when compared to most of you lot Nelly71. Close enough though.

Not been following properly for ages - what did he say about the hard rock bit?