Member Info for shamI89

He still raised money through plscing after two months .May be overdraft ,available is not big enough . As I said last Rns was a placing/profit warning .

Covid funding was available last year as carclo had some money off government last year corona broke out in late 2019 and peaked in early 2020 it is 2022.PF first mentioned bank facilities in 2015/16 in one of his interviews .It has been nearly 5 years, at that time he got into death spiral trap in the form of Darwin/Ya and that was disasatrous for share price.He hinted that he was in talks with several banks . He has failed to get one as I guess bank would look at income and refuse straight away as for years this company is relying on placings to fund its day to day activities. It amazes me that PF wont mention bank facilities in updates but would mention them in emails to certain individuals.PF announced DRC and other contracts and refused to comment on company's financial position and then at agm meeting he was asked same question but did not answer. I said that a placing is being worked out someone called me a fool and on very same day after market hours a placing Rns landed.

Why did PF not use that "covid recovery scheme" last year or year before when he raised 7 million through placing . I rember PF saying six years ago that he is exploring other options such as bank loan facilities to fund day to day activities, fact is he only knows two ways of funding : placing and Darwin/YA and both lf these are as bad as eachother. Company had 3 million cash in june , administration costs are 2.7 million for half year and PF must have spent some money to meet "pre-contractual expenses" . PF has a distinctive style of raising money he tends to excite the market through announcing a new contract and then raises the money on the back of it.This year he has already done it but right now he does not have any new contract to announce instead he issued last rns which should be taken as a profit-warning/ placing rns.

After last Rns it is clear that company is short of money but please tell me where is money going to come from ?

I am not invested, but I am happy to hear your views.As in my opinion last RNS was meant to act as a profit warning/placing .Company is not generating any profit, it has slashed its revenue forecast by 60%. How will it cover administration costs ?

You are right, ongoing situation does not bode well for shareholders a placing is imminent and would have to be at a huge discount to encourage take up.

Aiming after last RNS if somebody believes that company is in a healthy position to fund itself then he should not be investing. They have slashed expected revenue by 33% and administration costs are 4.7 million.Company is not profitable , how will it fund itself? PF will need money for administrstion costs, if he wins a new contract he will still need money to meet pre/post contractual expenses.Whatever way you look at it: company is short of money. In my opinion placing would be best option for shareholders .

I wont trust PF, I hope he raises money through placing as Darwin/YA death spiral loans woulfd be horrific for share price and would kill off any future rise. He will have to offer a huge discount so I will say a placing at 3.

December placing was meant to be a fresh start as it was thought that company was at breakeven stage and any further contract wins would push it into profit.However now we know that any surge in revenue was due to covid related sales .Looks like PF is winning these contracts by accepting nect to nothing margin and he will need a lot of these. Whenever PF wants to get a placing away he tends to portray a rosey picture and he has tried every single trick in book.

He has killed any chance of any significant rise and this RNS is a profit warning/placing rns. Even if he wins a contract now that wont give shareprice any significant boost as everyone knows he will raise money to meet pre/post contractual expenses.

Company wont be making any profit this year, administration costs are 2.5 million and PF must have spent some money to meet "post contractual " expenses. That means that he will run out of money in not so distant future .

Has almost confirmed it. He has tried to calm investors down by mentioning " advance stage discussions" but that has backfired as we know that any new contract win be followed by a placing to meet "pre/post contractual expenses" .

It depends as 29 is kind of nailed on.This was offering a strong resistance at 32 but that has gone. I will wait for seller to be done and dusted wiyh

A major seller is using liquidity to offload shares, that probably explains the volatility. Private investors will have to be cautious as any rise would be heavily sold into and they have little chance of exiting with a profit.

Will get another upbeatupdate in December followed by a placing.PF is really good at misleading others as I thought two contracts would be game-changers but nothing is certain in Pf's world. He loves to throw sensational words like "transformational", "imminent" ,"significant" and " double digit growth". I guess he knew that deadlines he is giving won't be stuck to but it was necessary to excite the market to get away a placing.

Navitas knows that rockhopper does not have money so they are probably waiting for it to go into administration and buy these assets off administrators cheaply. Another option would be to offer a pathetic deal to company.

Well not surprsingly we have a "kiss of death" in the form of riddler, who is here to "p&d" it with the same "all time low" mantra .Not so long ago he "pumped and dumped" so4 and loop and look at what happened to people he lured in.

Premier was best choice and it had some really attractive assets at that time. Oil meltdown of 2013/2014 cost them heavily as they had bought too many assets at the height of oil boom and could not find any money to seem through to the production. Nonetheless its management screwed its own investors and they accepted a pathetic deal which kind of wiped out existing shareholders, if premier had waited for another 6 months it was in best position to take advantage of rising price of oil.Nonetheless premier did pay 263 millions which is not a small money by any stretch of imagination. This company had two oil meltdowns where some decent sized assets could have have been bought for peanuts and that could have put finances in order along with building shareholder's value. Fact is this management is useless as they have acted as a lottery winner who squanders lottery money without any care in the world.

This guys burnt through quarter of a billion dollars with nothing to show for it. They had several opportunitire to acquire decent sized assets for peanuts and management did not do anything. Look at i3 energy for example where management turned it around from a failed exploration company to a profitable outfit and they funded it with placings. If I remember correctly then premier bought Eon assets for 150 millions which added 15k bopd to company's production immediately. We have this company which is struggling to survive. Company is in this dire situation due to its management.

Gravitas has an upper hand here, any deal will likely take some time and this company wont cough up any cash. There are a few companies where management built up a sizeable production through placings and zero production. This management could have easily bought 20/30/40 k bopd assets with the money they had but instead it decided to do nothing.