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Stas that is the standard Shorters reply that what is discussed on this board has no effect on the SP which is complete rubbish. Anybody looking for an investment who is doing their homework will read into the company using whatever information there is including boards like these. Nobody in their right mind after reading this BB is going to make an investment apart from a possible short term trade.
Equally if I came out with some stated insiders knowledge it could go the other way.
You still have not acknowledged the difficulties that are facing the company or why if you believe there is no oil why you continue to be invested as you could lose the lot if you are right, better some than none.
Stas see you are doing again, you have no idea how the JV will turn out if it happens, yet you proclaim you are desperate for the SP to improve, but now you are trying to do down a possible JV which is your way out.
I am in the same position and down plenty at the moment but you and the others are not helping the SP or yourselves by you constantly talking the company down. You are definitely not helping the current JV talks with attempts to oust the CEO right at the closing point. If you are looking for a spike to get out on then leave Art to complete the JV. A JV announcement will at the very least create a spike as the SP is ridiculously low at the moment. If you cannot see this then you are being blinded by group think.
Stas as you don't believe that we are sat on a billion plus barrels of oil why are you still invested. You constantly bring up you don't believe the report because Art has not showed it to you and yet you remain invested. Why, because if the oil is not there or not commercial the SP will only get worse when that is announced, does not matter who the CEO is, they will not be able change that.
You keep banging on about finance without acknowledging that raising money in the current climate is extremely difficult. Biden within days of getting into office demanded that banks stop financing oil and gas companies. Everybody is currently on edge with Biden again as too if the US is going to default on it's debt payments. If they do then all bets are off all around the world let alone in the US. I very much doubt any JV is signed off by whichever company that is involved until the future on that aspect is clear.
You make it all sound so easy when it is clearly not. Art is a difficult man to deal with and clearly lacking in communication skills and yet despite the difficult winter and financing we are still in a position where a JV could lift the company to a much higher level.
Anyway as you don't believe the oil is there why are you still invested? Or are you not and you are just being a very determined shorter who I must say has done an excellent job in constantly slating the company off.
People will trade this share to death until we get a definitive answer as too how this joint Govt/Company adventure is going to work. Too much uncertainty for long term investors at the moment. Lets hope we get the answer to how its all going to work in the very near future.
Well said Unlikely, these companies if they constantly got it wrong would be out of the business very quickly. I am, however, getting annoyed at the time it is taking to get this data room opened as they have been talking about it for at least 6 months. Its like they have been asleep for the last 4 months.
Weighup shareholders taking control nearly always ends up in disaster and to do it now is completely mad. If the JV falls through and then depending on why it fell through, it is then the time to react.
How do we all know that the gang who is running around trying to get rid of Art at this time are not shorters. They hardly act like people invested with their constant doing down of the company on an almost hourly basis. There will come a time when Art and Co will have to answer as too what has happened, but not until we know about the results of the JV which could be transformational to the company and people will see their money come back. Remember you have not lost money until you have sold.
If you believe half of what the downers say then you should sell straight away as if the oil is not there then it does not matter who the CEO is.
Prophetus I will take that on for you: That we have one the largest onshore USA discoveries in decades," - Do we, or do we have a lake of oil we cannot commercially extract? - I guess we might have known more about this had Art not lied to us about providing the RS resource report, what was he hiding? I hardly think the JV would be still ongoing if the oil was unable to be extracted and I believe other companies in the area are already extracting oil from this resource. I can fully understand Art not giving us the full report as you only have to look at the way that people react on this board when they do not understand something, complete chaos. Art is very poor at communicating with his shareholders and I really wish somebody would sort that out (come on down daughter). For the rest we have no idea what he is trying to deal with, for a start the Biden administration are all over the place with regard to oil and gas. They basically told banks to stop funding oil and gas right at a time when Art was trying to re-arrange the finances. Everybody was up in arms about their being no increases to oil production during what was the worse winter in decades in this part of the world, but the fact that the roads were shut and there was 6ft of snow on the ground was Arts fault.
How would you feel if you had received death threats from your shareholders, not surprising he does not communicate with us very often or put his daughter in the firing line. To try and remove Art at this critical time with the ongoing JV near completion is completely bonkers and would without doubt put the JV at risk, perhaps that is what Stas wants as he is clearly not interested in supporting the company with his daily 'lets fire everybody'.
If the JV collapses and communication does not improve then I will be right behind getting rid of Art, but right at this critical time no way. PS I have voted against the 1000 to 1 proposal because despite being asked, he has not explained his rational behind it.
Lets all grow up and stop constantly talking down the company we are supposedly invested in as its not helping.
Seaside there is no way we are getting bought out for 250m, our infrastructure alone is worth well over 100m. We have over 1bn barrels of oil in the ground which even if taking worst case and you can only get 200m out that alone is worth at least 3$ a barrel in the ground and that does not include our current field that we are producing from. Then there is the carbon capture factor. To be sold for $250m would be complete madness.
Down they were after 10m and ended up oversubscribed so took 22m leaving even more that they could have taken. It’s a good result I just wish they did it some time ago before we reached where we are. I still want to see a plan and I want to know what is happening with the data room which was not mentioned.
Some people on here clearly do not understand shorting. When you short you borrow stock at a certain price and you then hope the share goes down and you can buy it cheaper than when you borrowed it. When you close a short you have to buy stock, not sell it.
In short this is how it's done:
Log into your brokerage account or trading software.
Select the ticker symbol of the stock you want to bet against.
Enter a regular sell order to initiate the short position, and your broker will locate the shares to borrow automatically.
After the stock goes down, you enter a buy order to buy the stock back.
When you buy the stock back, you automatically return it to the lender and close the short position.
If you buy the stock back at a lower price than you sold it at, then you pocket the difference and make a profit.
So when shorts close they have to buy!
JohnHenry it does have the funds to test the SMD as it had over 10m left after the horizontal was closed. They are not producing oil at the moment as the flare approval has run out months ago and they did not ask for an extension. If they don’t have the money they should get on and raise it as every day the sp goes down they will have to dilute more to raise the money. Sitting in silence is slowly killing us.
Another 4% disappears and absolutely nothing from the Board, what the hell is going on, at this rate we will be down to 10p by the end of the month. There needs to be a plan put out and an explanation as too why we are not testing the SMD which we were supposed to be doing ages ago. The company is letting its investors down at the moment big time.
Wong Togo you clearly know sod all about oilfields. I guess you think you can just sink a hole and it just comes gushing out into the back of a tanker to be driven off. Seriously every oilfield encounters problems like you raised all the time. Have a look at the Alaskan oilfields that can only explore in the depth of winter, very little infastructure, having to build snow roads in the winter, working n -40 conditions and lastly the federal govt all over them for green issues. This oilfield is a walk in the park in comparison.