Member Info for shamI89

Problem is each year free cash flow is falling and net debt is increasing not an ideal situation to be in. I hope I am wrong but market is smelling blood and some thing has leaked. I suspect we will see a lot of speculative retail money moving in and out but so far mm are not letting anyone out with a profit.

Pricing in some sort of bad news and given the bonds are trading at 50% equity is toast. Fall is aggressive and there is no bounce. I will say that retail money is being trapped.

In these sort of situations it is wise to follow the market as quite a few traders jump on bandwagon to have a quick "trade" and sprout all sorts of bs to further their narrative.Problem is it is operating in a very competitive sector which operates on a paper thin margin, a slight delay or inflation can eat into profits and can pull a contract into loss.

Have got caught in it.There is no point in looking for a bottom if shareprice is falling everyday.Market knows something that we dont and equity wont have any value if bonds are trading at 50%.A rights issue is on the card which will heavily dilute or wipe out existing shareholders.

50 cent and when that is case, equity has no value at all.After bribery and corription fiasco compajy was meant to be on solid footing but it did not go that way.Market is anticipating some sort of equity wipeout through rights issue or placing.

It has to be hell a lot of coincidence that all of these exciting plays have turned out to be worthless.

Hahaha love it but what happened to money raised through multiple placings before this to take advantage of "exciting plays" in UK and Tunisia?

Story company spots an "exciting opportunity" several placings later mug punters find out that this "exciting opportunity" was not so exciting but hey ho company has moved on to another "exciting opportunity".Rinse and repeat.

I dont mind anyone posting anything as long as it is reasonable.However sometimes it is way too easy to spot bs being sprouted

Cybertron I dont think you have any clue about exploration drills.As there are four and five stages after acquiring the asset.Lets for arguments sake say that "government" has ignored all of these major oil players and have chosen upland resources as parner.Upland resources would need to fund drilling and prove up resources through exploration drills. These sort of drills would need atleast couple of millions and not a few hundred thousands.Having said that a duster would be end of this journey.Now here comes the question an asset has been acquired, no exploration activity has taken place and no oil has been proven and company has "£109k" assets and a "mysterious buyer" emerges who is happy to pay £143 millions and bod rejects it without consulting shareholders, all placing shares have been dumped and warrants have been excercised ncad then BOD realises" that takeover " bid was bogus.

Goodbye ring 111 right now as you will be spending many sleepless night and for God's sake learn to do your own research.A part ownership in a technical report is not even a first stage and these sort of drills dont cost a few hundred thousands as you mug punters are led to believe. Why did bod not consult shareholders before rejecting this offer as 90% of mug punters would have been happy to take half of offered price.

I am cool as cucumber while looks like your backside is on fire.Seek some help before it is too late

You should have chosen"Iamthick" as moniker as after spending years stage they have progressed on to is a " part ownership" in technical report which is worth much less than "£109k".Problem with you mug punters is you dont research , first an asset is secured, then seismic data is gathered, then potential drilling targets are identifies and then cos is determined before commencing any drill. These sort of drills are not cheap and can cost couple of million dollars atleast.But company is not even on first stage and mug punters are going crazy.I am waiting for results as I do suspect that company has a few hundred thousands even less.

But we are not supposed to ask these sort of questions as it damages mug punter's narrative. We had massive round number sells since that rns.

Bid was as real as Officemanager's office.Who would want to pay 143 millions for a company with net assets of mighty "£109k".

As I suspect warrants and placing shares are being dumped onto mug punters.But heyho if someone believes that a fully funded "asset" would be given for free and not only that a buyer will be lined up too.

Hahaha as I said happy to debae but there is no point in investing on "hot air" as sooner or later market would correct itself.......

To this "p&d". There is no asset, no money and mug punters believe in "potential".Meanwhile twitterati who pumped and dumped it have long moved on and rest is history.It does have a long way to fall as BOD can release as many rampastic RNS and tweets as they like , mug punters would want to see some solid progress and there is no "progress " here.This is a cash shell with part ownership in technical report and couple of hundred thousands

Not really Gary Newman tipped it four years ago if I remember correctly, but admitted that he had it wrong.It was usual suspects like blowster, fantastic stocks and others who pumped snd dumped it.But.....

Problem is this management cant be trusted anymore.It is not about them requiring extra funding, it casts a huge doubt on everything they have said, production targets and design. Among three major players only glencore has experise and money to finish project and would bag it.Equity is worthless.