Member Info for Sageman

WG, irrespective of your agenda I have ticked up your post. It pretty much concurs with my views and it is interesting that the actual debt is per my assumptions ( until more knowledgeable posters corrected me and I bowed to their superior knowledge, 😂). I expect gas prices in the winter to rise. If we see rates at $200 plus and can lock some in at those prices the finances here will be transformed. GL completely misled us with his timescales and comments about just turning on the taps. Glad he is going and that a more competent operator has replaced him. 2-3p next year still very doable. GLA

Wolve I love your word “expect” regarding Ftse250 entry. The bottom company has a market cap of just under £1bn, 😂🤣😁.

Desree, you are correct that GL missed his own deadlines by several months and in the process missed the high prices and cost us a fortune by not producing for the hedges. Mercuria made lots we made nothing just landed ourselves in debt and trashed the SP. But that explains why the sp is sub 1p as opposed to 10p. Hopefully we do not need a placing and with decent production and winter gas prices our debts will swiftly fall. I questioned the hedges last year and also said a few months ago that our debt was substantially higher than posters thought (check my posting history). I still believe that with a fair wind 3-4p is doable. Time will tell.

No shares Patel you are like a virus that infests chat boards. A nasty horrible individual who takes pleasure in the misfortunes of others. Deep inside you lurks something very sad. I feel very sorry for you irrespective of how many pennies you pick up from your actions. I am in profit here but see you in action on other boards. How do you live with yourself knowing everyone finds you vile.

Jono that’s circa $300m pa extra . Encouraging indeed! If oil goes back to $100 debt repayment levels would increase substantially. I am very chilled here but my B/E is in the 20’s . I understand why others are less content.

When do they expect production to be 100,000 bopd?

Plaice- we have been told what our assets should be and many bought accordingly. We all await the independent evidence. As someone who is long I really really really would love to see it!

Push, in contrast I just want Angus to stfu and focus 100% on SFB. I want nothing more than gas and debt repayment. Let us turn this into a cash cow. Let us build the credibility and the SP. I have no interest in vanity projects that destroy shareholder value.

Ok Plaice so “ most” is actually the market as opposed to those here. So what are our assets? Where is the published report. Why no RBL? Why no JV? Even if we have the oil we need to extract it commercially, but can we? The temperature is cold which exacerbates the waxing issues. We are where we are for a reason. I hold COPL as do my children and my wife. All to play for. The coming months are critical.

MD248, Your post is somewhat laughable. The SP keeps on falling - over 90% since I 1st invested with new lows almost weekly. I don’t like either rampers or shorters. We do need some balance. The field has massive potential but the finances are a joke (reminds me of Angus). In time I expect the field , when combined with a JV, will reward us all but for now tin hats are the order of the day.

Pilot and Easy, I so hope you are right but the bond holders sell every week. Why do you think it will be different this week? They forward sell and convert at the lowest 5 day average price. Money for old rope . They don’t care about the sp.

Leew, in the short term it is in investable because the bond holders are converting and selling each week. They don’t care about the impact on the sp. So with few buyers we get torrid dilution and an ever sinking Sp. Why buy today if in a month it will be lower as a result of their actions? Longer term though shares picked up today should look good if mcap grows to say £200m.

Hillbilly, I only ever invest a maximum 2% of my portfolio in a single stock and always drip in so I can afford to be both honest and stoical. I have a 3.6 B/E on Matad by continually selling 25% on spikes and buying back lower. Tullow B/E 27 and Alba 0.08 all by doing the same. The problem here is that there have been few decent spikes to unwind the 2% leaving me B/E at 20p. Very frustrating and I am sure that others have been similarly caught out by the incessant nature and depth of the falls here.

Hillbilly, you could be right. Every time I bought to average down the smart move would have been to do the opposite. Only traders here are making money. Note to self…time to start trading,lol!

The killer for the sp is all these conversions at ultra low prices so the dilution is much higher than anticipated. If we have 1bn plus shares the sp will be 1/3rd of what it would have been with 333,333,3333 shares for the same mcap. Obvious but true. The £1 party would now be the 33p party. Still lots to play for here …

Mine is shown at 8.12. Shown as 10k value and unknown. It was 100% a buy.

Just bought another 1m at 1p. Whatever our financial issues the solution is gas production. We should now have plenty of it. On a 6-12 month timescale IMHO this offers an excellent risk/reward opportunity. GLA

Desree , I think that you and I are going to have to differ. I do not have a crystal ball and thus do not know the day to day SP. I am looking at the position in 6-12 months. I think that with the new infrastructure in place the flow should be at a good level. I also think that the POO will be higher in the autumn/winter. No guarantees , but in which event trades at these levels have a strong chance of making money. I am buying back the stock that I sold in the high 2's. I was going to buy at 1.4 but got greedy and waited. In this case I have been fortunate but I could easily have missed the opportunity to buy.

Markets expected a bond conversion RNS with corresponding sells. I guess MM's have been caught out.

Sub 1p works for me. Just purchased another million shares.