Member Info for shamI89

Says someone who got in for a "quick trade" and is sitting on heavy loss. On a serious note do you really thing a few posts on this bb can influence share price.You have been "bullish" and have been attacking every poster with different views but share-price keeps on falling.

When I say I don't see any value left for shareholders, I would be stupid to trade it. In fact going through RNS I can see a pattern emerging. With every new drill they make big claims like this drill would be transformation for the company bla bla bla and then we get production estimates. Then a technical issue, followed by remedial work followed by well closure. I hope H2 does not encounter any problem as it would bring down quicker than I thought although it fits the pattern, this was meant to be a transformation well, original estimate was 40-50 mscfd, it had a technical issue which was removed and rectified, next thing we know it was only producing 20 mscfd, after "remedial work" production increased to 32 mscfd.

You forgot to mention "short-term amendments".

Hahaha ha, getting desperate are we? In my opinion seller is not done yet and it is not premier Miton.

Saw someone mentioning that Premier miton is out so who is selling then? Having said that "constructive talks" with bondholders that got me worried as these sort of talks don't tend to bode well for shareholders.

Well they do have more "wells" but one well would be shut in due to dewatering issue and other wells have been shut due to various reasons. If they intend to drill a new well we are looking at 15 millions and they need bondholder's permission to do that. Given their track record no sensible person would trust these guys with successful drill.

How do you think "bonds renegotiation" would take place. Let me tell you debt to equity swap where existing shareholders would be wiped out.

Good question, as things stand company has roughly 14 millions and need to pay 100 millions next year. Current production is 32 mscfd which is not generating enough money at the minute. But for arguments sake let's see it produces 15 million, 85 millions need to be found from somewhere and they have to be found in next 12 months.

Is back, as I said it looks like he has a range in mind and needs liquidity to sell his shares into.Can private investors match his selling power? I don't think so.

It was not a pleasant outcome as we had some private investors with very high averages but did manage to get something.

As I said not I am not shorting but don't see any value left for equity as company does not have enough cash to pay bondholders and current production is just enough to service the debt and meet day to day costs. Problem is most of posters on here jumped in at different levels thinking they can make quick bucks and move on and for whatever reason got caught and now are trying to all sort of bs to trap others in. We have three institutional sellers and only one is being mentioned? Why? Because he has 2.44% left while other two have much higher holdings. I have only seen one company recovering from this sort of mess and that was Hurricane, but that nearly got taken down by bondholders and their institutional investors saved them. Another factor that did contribute was rising price of oil and Hurricane produced enough cash to pay off bondholders. This company don't have that as it just have enough cash to fund a drill and bondholders won't let them use that cash as a failed drill and bondholders would lose everything. In best case scenario this company would save 10/15 millions next year and that is 1/10 of debt.

Lol says someone who believe these baseless ramps. Go through these trades and you will find out soon. As I said retail money is being trapped, selling pauses for a bit and we see people like you jumping up and down, prices goes up and selling resumes. We have three potential sellers premier, odey and Log administrators. According to Gary Newman Log administrator said that they will make a decision after H2 other two were selling actively.

That means it is not premier Milton as premier Milton were selling aggressively in February, Log administrator then and with them holding 25.8 God knows where it will end.

What makes you think it is premier Milton, we don't have tr1 and I think it is Log administrator as they would want to get out before equity wipe out.

Lol bs with capital B, but as I said shorters only attack shares where they spot a weakness, it is management which destroys the business. No shorter can destroy a quality business and if they do chose to short wrong business then they are in big trouble. This company had 4/5 failed drills and I am sure no shorter was involved in these sort of drills. Harbour is another company which got screwed over by its management and bondholders joined hands with predators. Premier oil was ready to take advantage of rising oil price when management sold it away for peanuts and shareholders lost.

Oh dear 2phevs is itching to get break-even. As I said it is one of those stocks where you can ramp it through your bs. I have no problem with people presenting different views but they have to be sensible. Problem is responses we had so far were "bondholders can convert it to normal loan", "it is oversold", " it is undervalued". Then we have short-term traders like 2phevs who jumped in to make a quick buck but.....

Not shorting but can see sells and did point them out to you guys. As I said it is stupid to think that private investors can compete with institutional sellers and bondholders. Look at copl and Miri where a few people thought they can pump and dump them and compete with bondholders. Many of them are nursing heavy losses and shareprice is dropping.

"settling down" selling pauses for bit and private investors jump in to make quick bucks, share price goes up and selling resumes again.

Lol do we have volume to absorb sells of that size? We all agree that there is a major seller in background and shareprice is not only going down until we have that seller around.

They would be stupid not to as equity is worthless now. I am assuming that they believed this share had some potential if H2 drill comes good but don't think they can wait any longer.