Member Info for Sageman

Cynderlad, I get that. They have no wish to kill the cow they just want to milk it as hard as they can. They want gas because it = money. Money can also be raised from shareholders. Its how it is. However, I still hold 5m of these and wouldn't if I thought a placing was imminent. I am here for the 5p plus. GLA

I think that a placing is unlikely but actually it is possible. We have no details of how much of the hedge was rolled over and everyday that we don't hit volume we lose money. We sell at 43 but are liable on the volume difference at circa 350 per therm. I hold my shares in full knowledge of this having discounted the risk to being pretty low. If we didn't have the hedge the sp would be many multiples above the current level.

UDOG is not a good example now 0.09P! The sp reflects the risks and flow of information. The good thing is that we have all had chance to rebalance our positions on the recent 100% plus spike and should now hold because we want to as opposed to be forced to hold or realise large losses. It is now all about the hedge and beating it. In the meantime people are happy to sell warrants at a profit.

Scarfell, the company got into deep poo due to low oil prices (7p sp) and it follows that high oil prices would be needed for recovery. I read these figures as steady as she goes. Remember the cash flow excludes the 200m because it arrived post the accounting date.

26 = 17.13p.

This should be going higher. I get the feeling that Art has been playing a game of chess to get CUDA at a good price. Lots of things delayed especially de waxing and sorting out pressure etc. The impact , once sorted , is huge in terms of production. Throw is RBL and new wells….I am very happy to be invested here.

Agreed Tilburn. An RBL on decent terms with substantial headroom would be transformative. Firstly it allows drilling but importantly it means no dilution. Art has spent nearly 400k on shares recently. He is in the same boat as us. He doesn’t want dilution and wants the sp to go up. I am very comfortable with this as a long term hold despite being underwater.

I got out of this at 0.2 having lost 90% and SS (aka Billy no shares the great diluter and destroyer of wealth) has struck again. He never changes - now 0.0875. He sees PI’s as providers of free money. Whenever the sp goes up he licks his lips and dilutes some more . He makes money but makes it impossible for investors to.

Makes Sound energy’s 1.5p 18th January offer and subsequent withdrawal look a poor.

I think we need to keep it real. We are hedged for 3 years. I believe we have circa 10 years of gas (depending on flow rate etc). Gas prices are elevated now but when we hedged at 43 it was considered a good deal. We all hope for faster extraction but nothing is guaranteed and no one can rule out a placing ( however unlikely). It will be interesting to see what Balcombe brings to the party with fracking. Lots of potential here especially if the can get production considerably above the hedge asap. I hope to see us north of 3p very soon with 5p doable. Anything higher than that would require a number of positives aligning.

Great RNS today which substantially de-risks this investment. It remains all about our ability to produce in excess of the hedge and how long oil stays high. There is a potential for a placing but IMHO with gas flowing per RNS there should be no need. With the rise in the last few weeks pretty much everyone has had the chance to reassess their holding per current risks with many "locked In" holders now having escaped. I don't set stop losses . I set spike captures some way above the prevailing SP. This has held me in good stead here. GLA hopefully 3p will be breached soon.

Nothing has changed here in the past week, We have flow we just need to know how much to expect once things have settled. The critical number is the amount above the hedge (and if it is above the hedge). No surprise new people buying and LTH reducing risk/profit taking on a share that was 1.2p a few weeks ago. This is very healthy. My reduced holding (circa 6m) is one that I am very comfortable with and I hope everyone has similarly managed to get to a position of comfort. Exciting times ahead...I hope. GLA

FWIW I now hold 6m at b/e. 2.1. GLA but lemon leaf…really!

Investment is about research and patience. Angus energy for me is a good example. I bought in initially at 8p. Averaged down to 2.27p. Have sold plenty and am now at B/E of 2.1 and in profit. It has taken 4 years with hopefully big profits in the wings.
I guess ART is in the same boat here and look forward to his work in the field to feed through to results and the SP>

This is 2% of my portfolio ,which doesn't sound much but it is the maximum I ever invest in a single share and reflects my confidence and research into it. I get the feeling that due to the Cuda deal much was left to fester and the SP reflects this. Art will be looking at quick fixes - wax, RBL etc . I look forward to positive times ahead. GLA

A big thank you to some of the more knowledgeable posters here. The massive build up of wax will have made a huge impact on pressure and flows so deal with the wax and the pressure is also sorted. Art has invested circa 400k of his own cash net of tax. This reminds me of a share I have been in since 2006. That sp has traded between 15p and £1.70 and all over the place in between. I have a B/E of 28p here and firmly believe that I will make good profits. You don't spend 400k if you intend to dilute the proverbial out of it. Also when you invest you know more than anyone else as the CEO. GLA

Stas slide 15 is also very interesting. That paraffin wax nearly completely blocks the pipes. I had no idea. The impact of cleaning these would indeed be transformational for flow.

Baits, as you know the production on the portion purchased was also hedged. So ultimately it comes down to one thing. Gas flow , specifically how much above the hedge. If GL had performed as expected …… but we are where we are. Let’s be positive.

I am not crying. However, facts are facts. If gas was the same price as when GL did his due diligence we would be bust. I am happy to embrace Lady Luck but luck and sound management are not the same. Also lemon leaf please do one. I have been here for 4 years and you a few months. My holding is probably far higher than yours but this is not a ****ing contest.

BV I am happy with this share but please do not ever expect me to congratulate GL. If you look at the due diligence, the delays and the missed promises over the last few years and dare I say it months the incompetence is breath taking. Despite this Putin has bailed us out due to resultant stratospheric gas prices. It does not fill me with any pleasure that Putin has been the instrument of salvation here. I sit here like many others holding my shares and dreaming of multi bags despite Lucan.

Having sold out some more this morning at over 2.5p my holding is now is back to the level I intended at outset with a far lower B/E. We now have gas. Its now about how much can they get out above the hedge level. I am very relaxed as I await market news. I suspect many others have similarly adjusted their portfolios thus making for a much more relaxed and balanced bulletin board. GLA