Member Info for rossannan

PTMS

Agreed. More fool LK if that RNS doesn’t appear.

cperkin

Interesting times, certainly. A good time for SOLO to find itself (soon now) with some cash in the bank, providing scope for share price appreciation while the threat of a fundraise is for once, and at least for a while, withdrawn.

cperkin

That would be a risk - would it not be better for SOLO to sell into the anticipation of that news? I guess I am just skeptical about HH - I read something like flow rates that are based on 6 and 2 hours respectively and I wonder what kind of proposition HH is really.

jeffry

That’s my hypothesis, that this will re-rate, at least in the short term, once the Placing and Offer are out of the way.

petersalkeld

What is the limit? I have a lot of posters on filter but have never hit it.

steve58

I think this is a more capital intensive business than you are suggesting and would query whether HH will offer the kind of long term stabilised rate per well that a major would be interested in. I would suggest that the time for SOLO to be looking for an exit (presumably this will have to be a GUN/PRIM type exit) is while the majority of UKOG investors agree with you about the prospects for HH. Now, in other words.

steve58

Over what timescale and a what cost?

capitalidea

Don’t know the ins and outs but it has been clear for a long time that something needed to be done. Not expecting any major disruption in the short term and biting this particular bullet can only be a good thing over the longer term.

http://www.guardian.co.tt/news/2018-08-27/d-day-petrotrin

mossma

It is the figures in the Q2 update that have spread uncertainty about the company. Skeptical posters on a BB get very little traction but plateauing production and cash burn will always get the market’s attention. You make it sound as if the skeptics on here are calling this down to zero. In reality, they are just challenging some of the rosy scenarios being painted on here and by LK (who was scenarioing very rosily, and, as it turned out, inaccurately, until not that long ago). Forgive us if we take LK’s current medias with a pinch of salt.

AlfieNoodle

No-one enjoys tree shakes and the like but they are entirely legitimate. Despite what you may read on BBs, MMs are not engaged in multi-year conspiracies to keep certain AIM shares down. Those shareholders should be calling their BoDs to account rather than formulating conspiracy theories about MMs. MMs are bookies, not gamblers. They do not have a view and they make money by keeping it that way.

findahappyplace

As I said on here recently, I have answered the why do you post question so often that I no longer see any point in answering it. Folk can take what I have said previously at face value or they can believe something else. Some folk ascribe bad motives to posters they don’t agree with and there is nothing to be done about that, other than avoiding getting into pointless conversations with them.

I am not interested in anyone’s reasons for posting, I am only interested in what they have to say about CERP. If folk get nasty or personal I can and do filter them and if they are not talking about CERP I can and do ignore them.

The crux of my skepticism about CERP is that LK has been unable to do as much without drilling as he led shareholders to believe. This has put CERP on a trajectory for a cash crunch, with use of the LIND facility now a when rather than an if. The question is whether the LIND facility will be enough.

CaptainSwag

No, absolutely not invested.

Far too many folk are relying on things happening such as Goudron’s problems suddenly resolving themselves or some amazing deal being done but the reality is that LK has been managing their expectations downwards for some time. Strip Steeldrum and anything from Bonasse out of his EOY forecast and you can see how little he is now expecting from Goudron, bearing in mind that Goudron WF should have been beginning to kick in by EOY.

bigdouble

Put it this way, UKOG looks overvalued to me, even at 2p. That may not stop it spiking to 3p, 4p or even 5p before reality kicks in.

cperkin

Yes, the valuation gap on its own was not enough but recent efforts to do something about funding made the difference as far as I was concerned. I am a little skeptical about Tanzania over the longer term (though less skeptical than I am about HH) but in the short term it all seems to be coming together.

O/T

bigdouble

I do, just thought you might know. The figures suggest it was Schroders but I would like to know for certain.

willowpillow

Yes, timing is everything and HH and Tanzania seem to be coming to a head. I’m in GUN and was pleased to see them agreeing to turn their illiquid HHDL into liquid UKOG. Would be happy to see SOLO do the same as I suspect that over the longer term HH is just nonsense. At the moment though you can almost feel the PIs queuing up to throw themselves on the next UKOG spike.

O/T

bigdouble

What I would like to know, talking of CERP, is which shareholder or shareholders put the kaibosh on LK’s Resolution 5...

interested in talking about SOLO?

cperkin

There has to be a good chance of a post-Offer re-rating as this seems to be a watershed moment for SOLO, whatever folk think of Horse Hill. I am reminded of the way that CERP made progress, at least in the short term, after its watershed moment last year.