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Burning spear - your tactic of continually taking the pith is getting very tedious.

LK stated that is was a 3 week drill but it’s the first 2 weeks that ate risky (that is not a quote but words to that affect).

Just a short recap - just over 4 weeks ago we were in the 2.8/2.9p range all week. Today’s drop, puts us at the same level as last Weds which was after 6 consecutive blue days. The RNS just 2 weeks ago said we were due to spud at the end of the month. It is unlikely to come this week, probably late next week but if it’s Monday 30th Sept it is still within the stated timeframe. We have waited a long time so if it’s a week late - so what? I came across some comments I printed off when LGO reported the newly drill had initial flow rates of over 1000 bopd and the SP rose 50%. I have no idea what the SP will be tomorrow, next week, on spud or on a (hopefully) successful drill but 50% from today’s SP put us near 7P. Yes I agree the potential is huge but I would caution over optimism, if we hit the jackpot then we can all be very pleasantly surprised but I do think talk of £1 or even 50p in the near future is unrealistic (very happy to be proved wrong) and can do more harm than good. Don’t get me wrong I am a glass half full person and really hoping for a big success here but it is not going to happen overnight. My point is we are the same company we were 2 weeks ago, no update, nothing has changed except we are 2 weeks closer to spudding the well. Knifeman I remember your posts several years ago and like most LTH I shared your pain, welcome back! GLA!

A new captain can often work wonders with an old team. From the RNS I like the following selected excerpt ‘ new name, new strategy and a refocused Management team. We are confident that our CBD business can be built into a highly profitable operation.’ We need to give NT and his team a chance, give them a bit of time and wait for his update early October. Mr Paul Mendel not taking any salary until the SP reaches 14p so he must be confident of getting there soon, nobody works for nothing these days, do they? I hope a good blue day follows . GLA!

Whilst it’s good to dream let’s remember the SP is around 5p so £1 a share is not really comprehensible just right now. Let’s get to 20p first and then 50p before we mention £1 a share. Plenty of potential without a doubt, that’s why we are all here but let’s keep it realistic until further progress has been proven. Happy with another blue day, I think that’s now 8 days without a red day and long may it continue. GLA

Ross you have been banging on about a placing for many months now. I remember when LK let the Lind facility lapse you were in total disbelief. At the time of the last placing he wanted to strengthen the balance sheet and indicated he would have preferred to pay the last Lind off early if it wasn’t so complicated to administer. He and the board are all shareholders now but even before then he stated he was not a fan of dilution. Now as a shareholder he will be keener more than ever that whatever deal he strikes will be accretive. I think the chances of a placing are low but I don’t know what funding arrangements he has in mind except he and the CFO have always said many funding options were available and I am happy to leave it to their expertise to select the best one for us all.

The trade of 124,463 shares @5.7p at 10.06 was a buy and not a sell as reported. Like many others I am showing a huge paper loss just now but the October update with figures attached should show us exactly where the company is right now and more importantly what the future holds. One big distribution deal would do wonders for shareholder confidence and would reflect in a rising SP. I
I can’t believe the new CEO is buying Zoetic shares for any other reason than he thinks it to be a good investment. GLA.

Lloydiee, market capitalisation is calculated by multiplying the current market price of the company's share with the total outstanding shares of the company. It’s just a mathematical calculation, whether people think a company is worth that Market cap is another conversation all together.

I don’t think so Lloydiee, I think it’s still circling the harbour waiting for directions!

Thanks BH, post recommended, I share your optimism!

The run of blue days had to come to an end sometime and a drop of less than 3% is nothing in the bigger scheme of things. I was impressed with yesterday’s volume of just over 2 million but today it was much better at over 3.5 million. It wasn’t long ago that we struggled to get 200,000 so the recent publicity and rising SP has certainly created more interest here. Let’s call today consolidation and hopefully we can carry on the upward trend tomorrow.

A 10% plus rise and volume over 3 million is impressive. Did anybody note the oil price when the company stated oil production from the 8 wells was expected to cover the companies annual costs? If, and of course it’s a big if, plans are announced by True to drill another batch of 8 wells, this would produce much needed capital next year. This, along with the expected profits next year from CBD wold surely give the company sufficient uplift to really ‘rerate the SP’. Thats phrase is mentioned on many boards but has eluded me to date. Do you think we have a good chance here? Thoughts anyone?

4 blue days in a room and 2nd consecutive day of decent volume of around 2 million. One swallow doesn’t make a summer and we have had many false dawns but without any news from the company I detect sentiment seems to have tilted towards the positive side. If we can maintain this for the rest of the week then I’m sure most holders will be happy and looking forward to a positive update from the company. Fingers crossed on all fronts, particularly East Denver and Hemp!

There is plenty to be excited about as we are not starting from the drawing board. We have the facility both indoor and out and an experienced team to cultivate the crop. In this growing market I don’t think they wil have a problem selling it and the ‘organic’ Certification will hopefully demand a premium and may be in big demand as it differentiates itself from most of the other market. In the bigger scheme of things we are a tiddler in the market but for the company it could be a huge revenue generator and we shouldn’t have to wait too much longer for more details. It might be wishful thinking on my behalf but until I see evidence to the contrary I am happy to remain very positive here.

Typo - I meant CBD not CBS

Good link Joycopter, thanks for sharing, a great article explaining that CBS is in the early stages but there is huge potential in the future for many people to benefit from it in the future including those with mental health issues but many others who may find it beneficial. Hopefully, this is a huge growth story in its very early days. Recommended reading.

Gallini - that’s a good read, thanks for sharing ??

OK thanks Fadec.

Neon I am puzzled by this too. Previously he has quoted $2-3 million per well and drilling 2-3 wells, now drilling just 1 well costing $0.5 million. When asked if the drill would be a shallow or deep well he said somewhere in between. I’d like to think the relationship is helping to get the rig at a discounted rate but $2-$3 million down to $0.5 million in 6 months is baffling.

A huge £73.63k buy and the SP only finishes just 0.54% higher! Can anyone explain this? I thought I posted this earlier but not sure if it got removed (can’t see any reason for that) ior more probably I didn’t press ‘post’.