Member Info for SeaHawk

Nigel there are specific brokerages that specialise in Shorting. Most stock is borrowed from institutions, at a price mind you!

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.

How odd that's repeated it's self. Oh well you get my point twice over!

Another day of drift with total silence from the company. Come on Telemachus you promised us improved communication what the hell is going on or more to point why are we not getting on with the SMD. What's the plan moving forward as we are fast approaching June half way through the year.

PS. Where has Scott disappeared to, funny how he has now gone quiet on this board.

Another day of drift with total silence from the company. Come on Telemachus you promised us improved communication what the hell is going on or more to point why are we not getting on with the SMD. What's the plan moving forward as we are fast approaching June half way through the year.

PS. Where has Scott disappeared to, funny how he has now gone quiet on this board.

Alfista I believe their permission to burn off the gas ended some time ago and we have not seen any new requests to continue. They also stated the intention to test the SMD soonest.

So Stas when he did not produce the report why didn't you get out then and there. Its your fault that you are sitting where you are with the SP this low (that's if you have any shares). If you lost faith in the CEO you should have sold straight away.

Of course the question is if the Govt is going to buy it's stake or steal it. Absolute clarity on the future is required before I put another pound into the company, if it comes and is good news there will be plenty of time to buy loads more and we will be off again. Until then its wake before the market opens and check for those RNS:)

Maybe they have all gone on an extended holiday using the wack of money they took out of the company mid drill :)

No Stas what is nasty and disengenuous is you telling us that you are heavily invested in this stock. Then running it down at every opportunity.

See Stas you are now proving what I said yesterday. We have some good news and you are doing your very best to make it sound like it’s bad news. There is no way you are invested here, no way at all.

They have been talking about this data room for a long old time now and I would like to think they would not have to be waiting on one report before opening it up. Maybe they are in discussions with somebody at the moment but if they are they should at least let us know. I was not happy two years ago when they informed us that they had had a huge offer, which they eventually turned down as that approach should have been in a RSN as it was very pertinent news to the shareholders. This is going to keep drifting down until we get some clear direction as to what is going to happen for the rest of the year. Why is it taking so long to get the SMD testing on the go, as most drilling has packed up for the summer. Kit and equipment should be available.

The SP is going to continue to drop until a clear statement is made by the President/ Govt as to how this joint venture is going to work. At the moment all we have is individual views by various ministers on how they think it will work and the companies view. Until we get sight of the actual rules people are not going to invest in large amounts. The president is a complete biff and has completely set his country back with his socialist/Marxist move.

Agreed Cricket the silence at the moment is somewhat unnerving, why wasn’t the 88E rig once it had finished with them used to pull the production tubing so we could get on with testing the SMD. Where is this bloody data room that they have been talking about since last year. Where is he plan for this year? Lastly they should show some confidence in their company and buy back some of the shares they sold. It would cost them 1/6 of what they sold them for to buy the whole lot back. Come on board get your finger out.

Stas for somebody who says he is heavily invested in this company you don’t half talk it down constantly.. How do you think that can possibly help your investment. We get it, you loath the CEO and want him gone; but now with a JV ongoing it’s totally the wrong time to be constantly calling for his head. If it all falls through then will be time to look at changing things up. So for the sake of your investment and ours please give it a rest for the time being. If not we are all going to constantly question if you are actually invested because nobody talks an investment down like you do.

Transhaven if you invest in a junior Oil Company you are completely nuts if you don't expect money raises. How else do you think the company can raise funds to drill wells, put in infrastructure etc. Eventually over time a company will hopefully sell enough oil/gas to become self sufficient and then provide a profit. This is what has happened with COPL, bought into an old field and is slowly bring it back to life. It's nearly at the self sufficiency stage but still needs funding to move forward. It's not helped by a belligerent CEO, who also fails utterly to communicate with his shareholders and thinks he is doing so well he can take a large salary whilst the SP plunges, but he is getting it done. Blame your fellow shareholders who sold out in a panic for the low state of the SP as well as the CEO. All this said and done Art has managed what will eventually prove to be a huge bonus in a million barrel oil field that he is trying to get a partner to help exploit. Even that is dilution but just in a different manner. If you don't like cash raises go and invest in a senior Oil Company with lots of wonga in the bank.