Member Info for shamI89

No company would touch it with this uncertainty, order book means nothing in this industry look at Petrofac for example!

Under ideal conditions they would have sorted dispoals out,production would have increased and price of oil should have gone up.All these things have impacted cash flow and it looks like market is anticipating some sort of recapialisation.A lot of debt was taken during oil boom.

It has been surviving on placings for as long as I can remember.I wonder if Riddler is still pumping it?

Pipeline may be open yet but no oil is flowing through and Terms and mechanism of payment has to be agreed.If previous history is to go by than nothing goes in straight line in that region.

In order to have a jv partner,you need to have an asset.What would JV partner invest in?Hot air!

It has managed to trap few more mug punters who would want to get out at first chance available.Tom reckons placing is imminent and we can have that dreades nasty RNS any morning now.

This "p&d" there is no asset and only "hot air " is driving the price up.

For sheer incompetence, this company used to have decent amount of cash,plus really good assets.Once it got involved with forestry, mango/tomato plantation it could not recover.It used to own a chain of super stores at one point.Equity is worthless at this point!

Who told you I shorted at 1? Ultimate target is zero as whole thing is a con.BOD would confess eventually that there is no asset!

I am meant to be really good for my "short" as did try to warn mug punters around 3p mark.Ultimate target is zero!

Time will tell,ask iog,copl . and many others.Clock is ticking...

As I said whatever I have said can be verified by Petros article.It will come out soon.BOD needs to come clean but I am assuming they know it will be game up if they admit that "asset" they were eyeing for has been given to another party.

Exactly BOD has nothing to say , it has been hogwash since that Petros article, BOD should have come clean.This company has only one source of income and that is "mug punters" who take part in placings.Having said that Cash burn is far too high for a company with no assets.

Yes, problem is mug-punters only realise when they have lost everything.Ask iog,copl and bmn holders!

I would not pin my hopes on Sarawak, their application for exclusive "psc" has been rejected and six months later company has not updated market.It is a cash shell with no assets!

Only a mtter of few days we will find out soon!

By the looks of it, you dont want to be left holding the baby!

I did think that we have a seller in background,but I cant understand this shuffling around.One week they are reducing next week they are adding.

People are, company needs money and you have two options heavily discounted placing or death spiral lending,neither of which would be in existing shareholder's favour...

It owned paragon diamonds and Bushveld minerals.Bushveld minerals had a market capital of 200 millions at one point but went into administration due to mismanagement.