Member Info for Shedulike

With absolute respect to the folk who dig this stuff up I'm honestly so sick of the geopolitical speculation. Unless Zaza delivers on the promises then it's absolutely irrelevant. The current elephant in the room is the pledge that T-45 is 'commercial', okay let's have the numbers Zaza and if it we're to hear again about Soviet concrete just spill it sooner rather then later.

Great so we're going to wait for 2022/23, better slow down on those groundworks :)

The wording is slightly odd but definitely not irrelevant, JP mentioned himself once that the RNS's go past a lawyer before release so obviously not just banged out as we all know. My guess is that while it's virtually a certainty that we're drilling TE-9 I think that 'expected' is a tacit acknowledgement that given success at TE-9, then 10 & 11 will be up to someone else.

Ah a man after my own heart Boulevard, was just thinking my clapped out beds could do with a some sustenance from the local stables. More integrity in a wheelbarrow of horse manure than most AIM markets - probably less *#•t too come to think of it!

Problem is Boulevard that every time Zaza has some good news, he finally releases the bad which he has been sitting on for as long as possible. Whilst it is inevitable that not every element of this programme is going to be a 100% success I do think his news management strategy is doing more to undermine the good news story than to nullify understandable disappointments. Yellow Jersey seems totally passive in their role, suspect they're not being paid very much (at least I hope so!).

Ooops 'there', 'their' - must be reading too many AST RNS's !!

.... will probably need to hold there nerve today. If a sell off starts there will undoubtedly be a clatter down and then hopefully a rally. Remember we did 145% yesterday and without some concrete news it would be incredible to hold that. Try and ignore the crazy ramping and look for your de-risking point (I suspect many who had a big scare will be considering that), equally don't be spooked out before you get to that point - significant weakness today and the de-ramping will be vicious, just don't trust the extreme opinions would be my advice.

Welshandproud - sorry to hear that you're overexposed, I put in more than I would normally because the promised imminent revenues on the face of it reduced so much of the risk associated with AIM explorers. We were all misled so don't get beat up about it and definitely ignore that callous oike who just put the boot in.

I don't want to get caught in the middle of your fight MK & Ex but I did laugh at the thought that the slightly cranky old thing could have an affect company's reputation. Mind you I honestly thought it was a prank when I first followed the link posted here, only realised it was real when saw it on the SOU website and then I thought blimey those seismic trucks have taken a battering!

Thanks for sharing Scott but honestly it wasn't the wording that destroyed the SP, it was the facts that they relayed. I agree it could have been more palatable and the petulance aimed at the authorities just won't work but I don't honestly see that given the wells performance and dwindling finances the SP could have ended up anywhere else.

Indeed it slipped out in the podcast that they had problems from the outset with PG-11a. I outlined the timescales on Monday but basically if you take that to mean from the start of production testing then that was Sep 17 so more like 7 months of PI's being misled. I am livid that I watched the SP fall from this point and listened to all the reassurances while those in the know got out. The last thing we need now is instability but how can the current board have any credibility to get us out of this?

I think everyone who is still here has been very patient. What is unfortunate is that tractor on the daily webcam did exactly the same thing yesterday, what were the chances of that happening?

As has been endlessly speculated upon it could happen in any number of ways. I was in a plc that was taken private once and the sp immediately jumped to within a whisker of the agreed price. The market showed a slight discount allowing for the possibility for the thing falling through. Not having a huge amount at stake I took the money so can't recall how long you would have waited for the full offer. Let's find some more gas first anyway.

Not saying it isn't hot but technically it's not the Sahara, which just clips the southern border of Morocco, close though! Can't wait for second instalment of the webcam, who wants a sweepstake over whether the tractor gets into second gear?

Strange how we talk so much about fundamentals but whenever I've been on the end of a disappointment like this I've always been left rueing my own failure to act on instinct. I ignored the drip drip of the falling sp as we moved to production believing the company RNS's that we had two good producers that would be gradually turned up. As something of an introvert myself I was happy to forgive Colin for his obvious discomfort in front of the camera but for two thirds of a year he was telling us PG-11a was fine when he knew it wasn't, it showed. I suspect deep down he's a decent man and hoped they could overcome the problems but I hope he's learn't a lesson as well as folk like me. I genuinely believe that all is not lost here but I'd give my eyeteeth to know why we're getting shafted by the Slovenian authorities.

Well done WHYAST I have been struggling to summon up any gallows humour today. I invested much more than I usually would in an AIM share in complete faith that the move to production would virtually remove any possibility of this scenario. To hear that they knew about the problems with PG-11a from the outset is sickening. The only crumb of comfort is the two big buys at 8-50 and 10-22. No argument about them beings buys and I don't believe they can be mere punts, but for mid to long-term holders I think the only hope of redemption is a partner, a straight take-out can only be low ball now.

So in the podcast C. Hutch admits that PG-11A was a problem from the start. Just been looking back at RNS's - test production started on 8 Sep 2017, exporting on 3 Nov. On 8th Jan 2018 we were given the sales figures which showed a modest increase in overall production though underwhelming considering the plan was always (sensibly) to start slow and build up. Crucially however the figures were NOT given for each well. That was the first bit of chicanery. On the same RNS they announced figures would from then on be given quarterly, they bought three months of time. I can remember being surprised at this because for such a small company, a fledgling producer, every month was critical to promoting the good news story. I raised it on here and was told that quarterly announcements were standard which is fair enough but it's obvious now why they curtailed the monthly announcements. From the horses mouth we know they had already been struggling with PG-11a for almost 4 months, it then took the entire next three months for the truth to start unravelling. Investors have been misled, deceived and could have a case for claiming not just sharp practice but possibly *****. I can't say it because I can hardly risk pricey legal action after this blimmin horlicks.

My somewhat tragic hope is this absolute car crash of a RNS is to butter up PI's for a low ball offer for the company. Our bargaining position is becoming weaker all the time now that they've finally owned up about PG-10. They knew they'd be an uproar with anything under 2.5p before but this warts and all comprehensive admission of failure makes 1-2p optimistic. Wouldn't be surprised to see some big positions being take today.

Interesting speculation Fixxxer, I'm going to be careful what I say but certainly not unlikely someone with deeper pockets than us is blocking the permit. To use the legal latin phrase "Qui Bono" and you have the answer. What I'm more cross about is that when I invested about a year ago I was told the wells would start producing at a low level and then gradually be turned up. The market immediately started falling but the message remained the same again and again through the fund raise. The market continued falling but the same assurances were delivered leading into production and beyond before the bombshell in the spring. The fact is that the truth about the wells was leaking but we were lied to again and again. Can't blame Colin about the permit unless he's made an absolute arse of the diplomacy but the without a shadow of doubt the condition of the wells was kept from the average investor.

You won't be laughing about the TE-9 marker if it gives the seismic trucks a puncture - hang on aren't we late for 85% final phase?? Now who's joking about cones....