Member Info for shuttts

Well - it all looks very good to me. But wht do I know?

I was hoping we might get some info on revenue from first offload and etc.

I'd have thought that if there is an RNS today it'll be prior to 11am or earlier if there are packs with info as you suggest.

What time's kick off?

"reducing debt to a manageable £350m."

Are you having a laugh FoolChild? If you earn £16K a year before costs and owe £35K in debt it is not manageable, and reducing it for £135K to £35K doesn't make it any better because it sounds better.

Anyway - you said it was going up to 30p+ on results day - what happened - it's only gone down since?

You said shorters were going to get burned - they're all making money while you lose it and/or try to get others to lose it.

They need a re-branding next - Carpetwrong - especially for the investors and creditors.

I don't see how it can be a liability AdUK.

They've said oil is there, it's just not commercially viable to extract it, which really means at the current oil price it would cost more to extract it than it's worth.

Since oil is a finite resource, at some point in the future it probably will be commercially viable - we might not be around to see that day - but I think it likely that it will have a significant value at some point in the future?

Perhaps - now would be a good time for the BoD to RNS how much oil they sold, how much they got for it, and when next lot is likely to be sold?

"In the short term the stock market is a voting machine, in the long term it's a weighing machine".

I'm still in profit lol, so not panicking.
Funny isn't it how great news like first oil and first sale of oil created hardly a ripple - teeny bit of not so great news and it's arse falls off.

You'd hope that this news is pretty much priced in - having dropped so much already from first oil and the oil offload.

I'm not shorting it but I'll have a wager with you if you like.

50p that the share price is 9p or lower within 12 months.

You're trying to make money by short term trading, which is trying to predict the short term future, which is a recipe for losing money.

Bad mistake selling HUR.

I recommend you read the art of execution by Lee Freeman-Shor.

Ftsemajor: "Potential rewards here are huge for a very low risk! This is a golden buy in my book!!"

If you call total debts amounting to 7 or 8 times the market cap of the entire company low risk, then I have some magic beans you might be interested in buying.

If you want a proper golden buy with huge upside then HUR is what you should be looking at.

I have no idea mate if it'll go up for a bit or down, but I invest in companies for the long term and I don't see how Carpetright has a long term future, so inevitably IMHO it will go bust at some point.

As Warren Buffet puts it:

1) Rule 1 is to not lose money. Rule 2 is to not forget rule 1.

2) I don't HAVE to invest in anything. That means I can wait until a stock comes along that I know is right in the middle of the sweet spot.

In other words since you don't have to invest in Carpetright as an example, a struggling company that has a strong possibility of going bust since it's in dire financial circumstances, but you can instead wait and invest in a much better company that is not in trouble - then why take the risk?

Maximum returns for minimum risk is the only sensible way to invest and succeed over the long term.

Carpetright might well go up for a while, or it might well go down - no one has a crystal ball so no one knows for sure - which is why I would neither invest in nor short it.

But I'm sure that eventually it's going to go bust, and since I don't know when that is I don't want to be in it at all.

If I'm wrong and it becomes the biggest and best company ever in the history of the world then I'll have missed out, but since I'll be making money elsewhere it's not a big deal. Especially since that clearly isn't going to happen.

But at least I have no risk of losing money with them.

They're not telling you how much oil because they know you'd all be disappointed with 150K.

I wonder if the market will see revenue generation as being a more important milestone than first oil?

You'd imagine FO would be the biggy, but I wouldn't be surprised if this gets a bigger reaction and sets the foundation for the SP.

No numbers - what a Tease.

Time will reveal all.

PS - would you like me to post you some salt and pepper to season your cowboy hat?

JK: "The AM holds 620K, why book an offload with only 150-175K in the tanks?"

The idiot on board posted online "First Oil" as soon as we'd started extracting oil from the ground, so we know that was day 1.

We then ran for 3 days at c20K BOPD = 60K.

We've then had 12 days at c9K BOPD = 108K

Total = 168K

How do you propose mathematically to get from 60K to 450K in 12 days? That would mean 32.5K BOPD.

1) Dr T & the BoD made it clear it would be c.9K per day. If Dr T says 9K per day then it will be 9K per day - unless he's suddenly changed from his usual "tell it how it is" self to a giddy can't control himself CEO.

2) The first "batch" - our "partners" who are taking the oil might want a smaller batch first to see what's what, and it might also be prudent to retest the offloading with actual oil, rather than waiting until the tanks are full and then finding a problem.

Who knows but maths is maths, and the maths says 150K to 175K and no amount of wishful thinking will change that.

I hope I'm wrong that's better for everyone, but got to keep feet firmly on the ground and based in reality, not in what we'd like to be true.

From the interims in December:

"As a consequence of the continued focus on managing the estate to reduce square footage, elimination of store catchment overlap and implementing the CVA, operating lease liabilities for land and buildings had reduced to £328.7m (H1 FY18: £517.1m; YE18: £408.0m)"

£329M liability just in leases - and that's with an average lease length of 3.5 years.