Member Info for shamI89

Has a history of falling without any news and it has something to do with liquidity.Having said that it is one of best oilies around and has lowest production costs and is debt free .It is yet to catch up with other oilies.

If they can access government loan then that would be a great news. Company shpuod be exploring all available options .

Some trades are going through nex exchange and I can see that highest price paid today is 13.81.Right now share price is volatile but it will come good.

A little bit patience is required, these sort of shares tend to move really quickly on small volume and it could be good or bad.

It is very illiquid share and that could be reason behind drop on small volume.Secondly debt is a bit high.

Market is worried about level of debt I think.There is a hope that cash flow would improve with rising price of oil .Right now we dont know production cost as it may have gone up due to second well closure.Another hope is that rising price of oil can attract some farm in partners.Downside is if price of oil falls it could put strain on company's balance sheet as company has 150 million fall of that is needed for capex expenditures, that leaves company with 75 millions to play with.It would need to drill another well to increase production. Hopefully once we know production cost share price would rise if it is making enough money from existing operations.

Last week and week before and liquidity was not too great which did not help share price. Recent jump in oil price has drawn too many people in this company and that is why it nearly hit 10. Last Rns crushed that rise .

Price of oil, they have 150 million and half of that is tied in for capex, so that leaves them with 70 millions.But if price of oil hits 50 then company would greatly benefit.Right now oil price is in turmoil but rising slowly.

Half of that cash is tied up in capex expenditures so that leaves company with 70 millions.

Are worried about bonds which are maturing next year, rising oil price puts company in a better position, but company needs 70 million for capex and if another well is to be drilled then that has to be done within 70 million.Secondly we will have a constant overhang until seller disappears and that is not helping share price either. But I am surprised that shorts have gone up, when share price is nearly all time low .

a big seller, any rise is being sold into and that kills the share price.I hope to see some sort of strategy at Agm.

If these are shorters then they are either brave or really confident as this has already lost nearly 50% and shorting from this level is really risky.But going through trades you can spot a pattern private investor buy, share price goes up and then you see a large sell driving the price down.

I reckon there is a large seller who is selling into rise.

He got out yesterday and is trying to say that he would get back in if it drops today .

25p is floor and a major investor is putting in 80 millions , a mojor investor is backing it . Total cash would be 300 million post placing.

Given that company has indicated a possible placing at 25p, second tranche would be carried out at a price which is unknown to us.This new investor is willing to put in 80 millions and major shareholders is supportive of it so they see a value .

Company has 150 million cash , current debt is 250 million, 80 million of that cash is needed for capex and that leaves company with 70 million free cash.Current production cost is $17/b but I am assuming that it has gone up .if they need to drill another well, would 70 million be enough?

Not trying to dash your hopes but this covid id app is being trialed and not fully launched, secondly there are similar apps in the market and hhirdly consumer data confidentiality is an issue here, giants like google and apple failed to meet this clause. So I would say it is one of hundred apps that can help governments .

Nit thrashing it , but I guess you must be getting desperate to get out , think you are 80% down now.Problem is I am not driving the price down, as I am sure too many private investors are "topping up" in anticipation that others would jump in when share turns blue but warrant holders take advantage of this and offload their holfings.Right now we have three set of sellers, 1p sellers, 0.4 sellers and 1.6p sellers. At current price 0.4 seller would get about 280% profit and 1p sellers would get 50% profit.Until that overhang is there share price is going only one way.

Well done Mitch we have our bit, shareholders have been taken for a ride here , 32000000 shares which were supped to hit the market on his Wednwsday have probably all been forward sold or big chunk of them , remanining shares if there are any would be sold sold these days, but that is not enough 0.4 shared have hit the market too. A guess a fresh wave of new buyers or ones who sold around 7-10 range have come back into this share, thinking it has bottomed out and would go back to 5,6 and 10.