Member Info for shamI89

On aim, funnily enough it did have some really good assets when it used to be obtala resources but it failed to do anything and rest is history.From 30p to 0.05 has to be a record.

Regulatory authority which is meant to grant this "psc" intend to offer it through competitive bidding, but BOD misled mug punters by saying that it is pushing for "exclusive PSC" and mug punters believed that given "political links" of this BOD this is formality.BOD took advantage of that and raised money through placings.It seemed too good to be true, so BOD announced one afternoon that it has received an "takeover bid" and it has rejected it as it undervalued the buisness.Rest is History mug punters started piling in without thinking that BOD did not have any asset and who in his right mind would pay £50 millions for an asset which did not exist.But BOD knew how to calm mug punters down, so it started looking around for rig for asset that did not exist and that excited mug punters even more.I think "crew selection" would have been next step, had petros not released that article.A placing is needed and that would seal the fate of mug punters.

Hahaha regulatory authority which is meant to grant this "psc" is saying that it itends to offer it through competitive bidding and our mug punter thinks that it is true.Comedy gold that is.

Problem is a lot of things need to be clarified as how will oil companies be paid and what price will they receive.

Calm down Son,it is only money.Just a matter of time and you will see it yourself.Why would I want to listen to you when Petros has released that article.

Enlighten us what "progress" has been made.All I can see is loads of fluff but not much of substance.It is time for them to prove that they have an asset or shut up.

Lol who investment case was based on presumption that BOD had some political "links" in Malaysia and it is gauranteed to get a PSC.Nobody bothered to think that why would somebody give a company with no experience and money an asset.Next thing you know that bod went on shopping spree and chose a rig.Bubble popped in July when Petros released that article turns out blocks which mugpunters throught are "in bag" are being offered through "competitive bidding".After that "competitive bidding" article it should have been crystal clear to everyone that this is highly speculative play which is highly likely to lead to a 0p as why would an authority prioritise this minnow over likes of Shell,BP and other major companies.But never mind all of sudden we have "strategic malaysian investers" who are willing to pay premium and that gave our mugpunters much needed buzz as why would you not want to take a position in a company which has malaysian backers with "deep pockets".Problem is market wants something concrete and BOD is using all sorts of tactics to inflate shareprice.As per last set of results BOD does not have enough money to fund next 12 months and we all know what that means!

As I said "that positive noise" from Malaysia is nothing but B s of highest order.Tom is predicting that this company has run out of money and would need to raise money very very soon.Lets see who is right.I think this is a con and it is in BOD's interest to keep dangling that carrot in front of shareholders to keep them engaged but house of cards is about to unfold.

There is an interesting article on Share prophets and it looks like company has run out of money.May be them "strategic investers" will once again see " potential" to let company raise some cash or mug punters have grown wise to this antics.

Management said that it has submitted application for "exclusive PSC",however Petros is looking to award this "PSC" through competitive bidding as per article.If application was successfull why would they offer it to other parties through competitive bidding?

You dont need to sell, let things unfold and you will get an answer.This company has a "rich" history of finding new exciting "teritory" after every two years.They have in talks with authorities for more than two years end result was their application got rejected in July.It has been 7 months, apart from few meetings nothing concrete is happening and I wont pin my hopes on "these meetings".Having said that Cash burn is far too high for a company that has couple of licenses.

What "update" are we expecting as things stand .Petros intend to award PSC through competitive bidding and why would they want to give it a company which neither has money nor experience to develop it?

Petros published an Article in July last year and they intend to offer this via competitive bidding.Before this article company pretended that it will be granted exclusive PSC and it had made an application for that.

I dont think there is any "news",company should have come clean about things in July when Petros released that article.It has been a Hogwash since then as all of sudden we have "straetgic malaysian investors" taking positions and there is nothing on operational front apart from a few meeting with the "final authority".Kudos to management who have raised 8 millions through placings but after a while it has become predictable.

There is no news I am afraid.Mug punters were led to believe that company is in discussions with Petros for "exclusive Psc",however it was only through a petros article that mug punters found out that that block is being offered through competitive bidding.Needless to say company was forced to update the market.Since then it has been in discussions with "final Authority".There have been countless meetings but no result.However all of sudden we have strategic "Malaysian investors" who are willing to pay more than market value for placing shares.

Raised over 8/9 millions just by releasing these RNS which mean nothing.If it was not for the Petros article Mug punters would have never found that their application for exclusive PSC has been rejected and PSC would be awarded through competitive bidding.

Hahahaha feel free to say whatever you want,you have the wrong person.Having said that looks like BOD has done nothing apary from releasing a few more bs RNS which amount to nothing.There is no asset and BOD has raised 6/7 millions after that "bid".But again if Mugpunters believe that somebody was willing to pay 35 millions for an asset which did not exist then they can believe everything.

These "holdings" are necessary to stop share price from falling otherwise how will they get them placings away?

BOD releases these good for nothing "updates" to keep mug punters engaged.Reality is this company only has a stake in "technical study" which is not worth more than couple of hundred thousands at best.

Problem is this update has thrown every forecast out of window.Company was supposed to increase its revenue and sale but sale has slowed down and net debt has increased.More money is needed!