Member Info for Sageman

Single I guess you must be gutted. U.K. economy figures have all been revised upwards. Also we import circa 5% of our electric per the national grid. As I say don’t let the facts get in the way of your negative U.K. agenda.

Rarely have I read such complete drivel. The MCAP here is less than £30m. When we were at 1.5p it was substantially lower. It follows that "dark Forces" or institutions/corporates can acquire bucket loads for a relative pittance. Even now £30m is pocket change to larger investors. If this truly is worth 100's of millions there was/is no need to crash the SP as the purchaser still makes a handsome profit at 20 p/30p etc .

Looking at the numbers It is interesting that there was a lot less water this month. I am no oil expert but from what I have read this is a very good thing.

GRQ - debt is circa 2bn with free cashflow approaching 200m and rising. The 1.8m capital raise earlier in the year has IMHO done the job required to bring things into line. Assuming trading remains positive we should not need another capital raise..

Single, I think you need to look at national grid live. In the last 12 months we imported circa 5% of our electricity…but don’t let the facts get in the way of a good story.

On the back of both the RNS and having booked 4 TUI holidays this year I have just bought another 10,000 shares. This brings my B/E down quite nicely. The rights issue is behind us and bookings are strong. We should be back over £6 by xmas IMHO.

Some strange comments here. Someone with 2.5m shares would make 5k per 0.2 rise. So you only need 500,000 shares to make 1k per 0.2p rise. Forget the bottom, had someone bought 500,000 shares at 2p it would have cost them 10k. A 10k investment is well within the budget of many posters here.

FTSE250 is good news as there are lots of index trackers who will now be buying automatically. This should see us back over 40 in the next few weeks...possibly 50 , especially if we get some good news.

Push you stick to the engineering and leave financial matters aside. You are pretty clueless on finance. Creditors need to be paid but Angus owns the site. As long as production remains solid it is now all about gas prices. At $2 we do well at 40c we are toast. Place your bets long or short and enjoy the ride. I am long. GLA

Bv the issue with GL was missed deadlines and resultant cost. Production was circa 9 months late despite repeated assurances that it was imminent. We missed the spike in oil prices and committed to hedges we couldn’t honour . The cost was huge.

Push, at last the blinkers have been removed. Look at our original exchanges before you became BP. As an investor who understood the management I tried to tell you but you shouted me down. You can apologise later!

Thanks Horult. I saw that from the original testing but was unsure how that would translate when we went into commercial production where there can be multiple tap ins to the same well (pads , sidetracks etc...I am no oil expert, lol!)

I watched the podcast. I have trawled through the RNS's looking to see the expected BOPD from Heron and have drawn a blank.. Does anyone know? Thank you in advance

I think that posters sometimes forget that some people have a lot of money. Just 1% of a £10m portfolio is 100k. Lots of wealthy people have their main portfolio professionally managed but like a gamble on the side. Just because they invest 1% of their portfolio it doesn’t mean that they know more than the person who invests 5k. Actually the person with more modest resources may do more due diligence because that 5k is important to them. We have had massive volume over the last week or so. The person who bought 200k worth sub 2 p may be happy to sell 2m shares and hold the balance as free carry. What I am saying is that a few large trades are not in themselves meaningful.

Offy, I have run a company for 28 years. We pay our bills through cashflow so monthly turnover is very important (as are monthly expenses of course). My point was that the interest is serviceable but we need the refinancing deal which should be forthcoming on interest serviceability grounds combined with ability to pay down the capital.

WG at present they only need to cover the interest and with £1.5-£1.7m T/O PM they can do that easily. I have read the RNS in detail a number of times and prefer the 1.5p option to the 0.4P option, lol! The global refinancing would be a game changer here when/if agreed.

Singhie, You have been asked to stop. The jury for most is out but again you state a factual falsehood. During Covid we got our vaccines before Europe and they were livid. Yet you say no net benefits. Swings and roundabouts. Now lets get back to Angus.

Singie, You have been asked nicely to stop posting political views here. A few factual points though. The conservative government campaigned to remain in Europe. They lost the referendum and Cameron resigned to respect the will of the people. Also there is a strong argument that the benefits of Brexit would take 10 years to emerge as it would take years to unravel red tape and in the meantime our civil service obstructs as resolutely as those in Brussells. For most people the jury is out.

Read the article posted by Safetrader at 8.59 this am. The JV doesn’t need to cover the entire area. If we are making lots of cash we could fund wells ourselves - doh!

Pilot, you keep talking about the sp without understanding the business and impact of a JV partner. An aggressive partner building 3 high pressure wells per square mile , over 51 square mile, at 1000 -3000 bopd. That is the potential upside. To what extent that is achievable will determine the sp combined with dilution, oil price and the amount of extractable oil. Spivs and traders will play but ultimately the profits of the business will determine the market cap. I have no idea what the sp will reach and nor do you so stop making a fool of yourself.