Member Info for shamI89

I dont believe that asset is good as in my opinion it was a hogwash to fleece shareholders.If asset was that good tjey would have got RBL and would need to raise money through placings.Even if they bring in new management it will be pointless exercise as they will need to pay off 135 millions .

Spot on Steve, bondholders would convert bonds to shares and sell them to drive the price even lower rinse and repeat.This asset is worthless and there should be an investigation into it as why wouod he pay that much for these assets.

Problem with that is bond price would be reset and we will see further conversion.There is no way out as I suspect we will see consolidation and rinse and repeat. Looks like quite a few people are trying to pump and dump it.

Good luck though, as over the years I must have seen hundreds of frauds but only couple of them were brought to justice.They have changed the tactics now, CEO resigns company chsnges its name and venture into new field and then fleece investors rinse and repeat.

Hahaha if you say so. Take it as a lesson as if assets were really good they would not have got "death spiral financing". But you were too busy ramping.

Dont listen to me as Arthur loves mug punters

I did try to warn 6 months ago but I was a "shorting scumbag" back then

Like retail investors would be allowed to take part in "this open offer" but that wont gain anything as company had total liabilities of 135 millions and would need to keep tapping market time and again. These assets are worthless so bondholders are in the same boat as private investors.

Are still buying after that RNS yesterday as it is BOD's way of saying that equity is worthless and they would need to issue new shares to pay interest let alone paying any debt.

Whoever released them letters to TOM has done private investors a favour, TOM has massive following and it is important to have him on your case.Besides that he preducted it correctly.

Unfortunately if company announces tomorrow that it is getting suspended next week then rest assured that there will still be some buyers tomorrow.

Think that placing is going ahead at 0.15 why would someone buy these at 0.15 when he can buy them at 0.06 in open market?

Wanted to squeeze this lemon for last few drops before turning the light off.Why did he pay that money for worthless assets when I3 energy bought canadian assets which are producing over 10k bopd and generating enough cash flow for similar amount of money.Someone must have made a lot of money through this deal

Are you sure they wont need any more money after this 2.5 millions as every placing was meant to be last "placing" until shareholders smelt the rat and fat c*** realized that game was up

To everyone that there is no buisness here, these assets are worthless and any normal buisness would make shareholders some money it is other way around here.Shareholders are funding it and they tap after couple of months.TW was right from the start

It won't it would keep the circus going for a month or two

Avavio would determine the price and it can go lower if they want it that way.There is no upside as bod would require "funding" regularly.

They dont just need 2.5 millions I am afraid.Ever since they got that debt spiral funding share price is only going one way.And they have run out or options.It was crystal clear to everyone what was unfolding.Right now we have debt,bills and administration costs and there is no money, so hiw will bills be settled?You have guesses it right through placing..

Wait for more placings!

That is not end of it though as there wouod be more placings followed by warrants followed by placings.