Member Info for shamI89

I think a big chunk of them got in for a quick trade and got trapped due to sudden drop. Rest is History and then it was matter of pumping it hard to lure others in through their bs.

Administration as I am 100% sure that bondholders knew three months ago that these assets were worthless but still agreed to waiver. Which leads me to believe that another drill is on the agenda and bondholders won't fund it. That is where mug punters come into play. So they may not pull the plug yet

We are bound to have some traders, even if company had said that they are getting delisted next week, rest assured that some people would still trade it on the "bigger fool" theory.

told them that these assets were worthless but they still tried to lure in others with their bull****. another well needs to be drilled and question is whether lenders would provide funding for it or private holders would stump up cash?

A trader's share and from time and again "usual suspects" on twitter realise its "potential" and pump and dump it for 10%. This reminds me of Westminster group which had a massive retail interest and management promised them world and delivered nothing.

What has happened to your 13 target as looks like you have slashed it by 60%.

Shares acquired through rights issue with hit the market and we will see overhang for quite sometime. A trader's share at the minute but can't believe they have gone through this deal screwing existing investors over.

CEO has any turnaround plan as £150 million pound loss is massive and it will take a lot to turn it around. But do think that there is a brand value and quite a few of these companies like Ted baker and French connection have been taken-over due to brand value.

Is around shareprice is going nowhere. A distressed institutional investor or warrant holder!

As we are seeing a 600000 sells at the end trading day and it has been happening for last 4 trading days.

They made similar claims about previous assets and none of them were brought back to production. Pattern is similar, an assets starts production followed by technical issues, followed by work over, followed by decrease in production followed by closure. I am really interested in seeing latest figures for H2 as in my opinion production is not stable and can decline further in worst.......

Well Sherlock if only producing asset is not producing then we will have no production won't we?

"potential" as it is not commercially viable at current prices due to dewatering issues. H2 is not producing due to planned shut down for three weeks. Not sure if Coldspy talks out of his backside when he mentions production from assets which are not producing due to various reasons.

A bid for a company with no production, 100 million plus debt with interest and worthless assets. I will pass that.

H1 is not online though as dewatering makes it expensive to run at these prices so we only have H2 in production.Rest of these may have " potential" but are shut due to various reasons.

Sorry to pour cold water on your hopes Coldspy but it is about time you start reading updates properly.As that "40 millions" revenue of yours has failed to materize yet and this company is loss-making. Now it is about time you smell coffee and cut this bs.By the way unrestricted cash is 20 millions minus 6.4 Millions and that may go down as production is shut.

I dont know what to say to you poorinvester, rising gas prices would help but I guess that wont be enough.unless it magically triples this company is in big trouble.Bondholders have already shown enough patience and cant see them letting it carrying on for any longer.

They cant fool bondholders and rest assured that bondholders would have second opinion on these assets.These assets are worthless, H2 was probably last throw of dice.Cant see bondholders waiting on sidelines to pay heavy salaries, they are not even getting interest.

I do think that an institutional seller is around. May be bondholders got spooked by last update as production has fallen by whooping 18% within 15 days so may be they decided to not take control as these assets are worthless. At this production rate at best we will have couple of millions and that is not enough to cover a quarterly interest payment let alone reducing debt. Alternatively it looks like at some point quarterly interest would eat into all of cash reserves

Million dollars question is where are they planning to get 15 millions from to drill new well.