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As mentioned before this is now a shell with a MCAP of £2-2.5mio and a similar amount of cash, but at advanced stage of negotiating accretive deals. The ideal one would clearly be the production asset with debt financing as it wouldn't entail equity dilution and provide a larger re rate. So look at it as a different proposition ie very risky but conversely one with an even greater upside potential because we are at a much lower MCAP. There will be people who can take this risk and buy here, others like me who are not selling a very large amount of shares (hence reducing the free float) and others who are unbale to take the risk and probably have exited by now. But do remember that there are many who pump cash shells with no exact asset in a negotiation stage but which trade twice the cash level. DYOR

Superb update, buy these and tuck them away.

RNS exactly as expected and no point in throwing more money into Buffalo. Everybody will act as they deem appropriate but I'm definitely not selling down here.
I'm looking at this a cash shell with cash left near term, say year end at least on the back of also cost cutting mentioned, therefore no raise needed to keep lights on.

But where more importantly a cash shell where we are already in advanced stages of evaluating 'value accretive opportunities and include an opportunity with cash flow, which would be suitable for debt or vendor financing'.

I think they main target now if the production asset suitable for vendor debt financing ie it's probably a major disposing of a producing asset which would be great for us an generate probably a couple mio profit per year.

Patch when I mention suspension I mean because, as when they bought Buffalo, the target asset would cost more than our market cap it would be deemed an RTO.

I don't expect any new asset to be purchased in a matter of days but they will clearly have now a sense of urgency. Nothing guaranteed with any cash shell, but that's why I stay put and would suspect some to take a punt into this cash shell if we go a bit lower. A lot of patience required DYOR

For me

Patch for me the board is smart, my understanding was that they wanted to close the production asset first, but the current one got over the line first, and doing a second RTO for a second production asset would have meant a long suspension around Buffalo drill. In any case let’s see if they expand on the future focus and provide other info in the RNS tomorrow. Enough from me, let’s wait.

Amin, and other investors, I have also lost in ‘theory’ a large six figure sum and don’t blame others who have sold on the back of last week’s RNS which was clear to me already, hence the 90% drop. Personally I will not sell my shares and realise that loss, but will continue to hold all my shares as at a mcap of £5-6mio this is in my books now valued more or less already as a cash shell with a smart board who his as per latest interview in advanced stages of what should be a debt funded production asset. We will stay volatile and by the day we will get to a point where who wanted to sell is out. Conversely if, and there is no certainty, we close the production asset deal, we could start with a transaction similar to what RRE started with. I’m here long term, as I have been here for almost two years, Buffalo has not delivered, but a production deal would be a very different proposition. I hope the ADV RNS states tomorrow a change of focus towards production deals DYOR

I think that those who invested in this sector for years have by now understood from the last RNS and from the comments from the CVN CEO that B10 is dead. The concept was right, but these drills are not always successful for various factors, typically the seismic was not as accurate as expected or there was no oil at all. We did find some oil but from comments from Leslie earlier on the amount found is well below commercial quantities. The board will in my opinion only have one way forward as they will struggle in finding any equity funding for either a B10 side track or other Buffalo look alike deals, that way out has been mentioned a few times by Leslie ie a production asset funded via debt. So I have no doubt in my mind that this smart board will try all they can to bounce back putting all efforts in reducing costs to preserve cash as much as possible and trying to secure such deal short term. The market might not like to hear that B10 is dead, but investors like me know this is clear and we have to move forward and know that our board has the ability to replicate what RRE did by doing an RTO as a small cap into a producing asset and re-rate gradually to deliver an initial move to say 1.5-2p and so on thereafter with other similar deals. If you agree to this view, and if they can deliver it, we are probably close to where we could be with a shell with a couple of mio cash to keep us going without any problems until such deal is closed and generate cash flow thereafter to stabilize the ship and generate enough cash to close other similar deals and replicate what RRE did. DYOR

Taken some too as we are testing the 200dd and in my mind this is the only oil play which has not moved and we know it always happens. It is higher risk, but the potential is massive, let's sit back and wait.

As mentioned before, I'm holding my shares, as for me too late to sell what I have left; thankfully I took an amount similar to the capital invested out, but have lost the large amount of profit, but this can happen in this sector. I look at this now sadly not ascribing any value to Buffalo, clearly happy if this is not the case, and in essence as a shell with a little cash left and would hope at an advanced stage of closing a production deal funded via say debt, equity swap and possibly a small cash raise. If this does happen, as our mcap is only around £6mio, I can see ADV moving back to say 1.5-2p as a start and higher thereafter. The reality is this is just a guess at this stage and nobody really knows, we have to wait and see what happens.

I suggest investors researching TGR should read the last Half Year RNS to see how the company is progressing on all fronts and what lies ahead in 2022 and beyond as it will transform the company https://www.lse.co.uk/rns/TGR/half-yearly-results-my9y11jpykzyzd8.html

Not surprised to see quasi institutional investors such as Oberon Investments Limited coming in early, we all know that the medium term upside could be very interesting .

Personally think we will see the old highs at around 160p later this year, remember next quarter production will increase further and I can see constant news on all fronts.

Impressive RNS. If you want to invest in the Graphite and Graphene space you can’t get anything more interesting than TGR. Revenues will increase dramatically this year thanks to increased output, new assets, lowest costs etc

dai2, we have to wait to hear re Buffalo, as things stand I look at it as a shell with a bit of cash and deals lined up at an advanced stage of negotiation, selected amongst various offered to them, which could re-rate the shares. I clear would prefer the production deal to close first.

Clearly very disappointed. Amin I took some profits off, but still have a large amount in here. Personally I'm not selling here as a simple shell with a couple of mio cash can trade higher than that for sure, add the fact that they are in advanced discussions for at least two other assets, one with production (and who knows maybe Buffalo is not worthless). Let's see.

I would give them money for another deal at this MCAP if the producing deal looks interesting.

It might seem crazy but with a mcap of £8mio I'm looking at this now as a shell with some cash left and two deals at advanced stages.

When things can get much worse it's top up time for me, just bought some

Agreed massive for a small cap like EISB.

For me RNS at 7 to halt also ADV

I think we will half trading too as CVN. Hopefully they hit the reservoir top yesterday and found oil and need a bit more time from now to Friday to reach the bottom and be able to release the height of an oil column, but anyone’s guess at present. Let’s wait