Member Info for SilverSpoons

IMO the two key paragraphs as pasted below in "quotes" were: " The Group's average monthly oil production over the last two months has increased from 3,262 bopd in April to 5,325 bopd in May as the new wells have progressively come on stream, with production reaching 6,100 bopd at the end of May. The Group continues to evaluate and optimize these three wells and will report on their stabilized performance in due course. " " The Group has so far drawn down $28.2 mln of the $94.7 mln available pursuant to the development and working capital facilities provided by Bank Otkritie Financial Corporation ("Otkritie") as required to meet our ongoing programme requirements. An additional tranche of up to $50 mln will be available to the Group from the Otkritie development facility, upon the Group achieving the facility's cumulative production covenant for first half of 2015, which the Group is on track to achieve. Having received $22.5 mln in pre-export financing from Glencore during May, the Group's cash position at the end of May 2015 was $17 mln. " The first paragraph shows the figure of 10,000 barrels a day, mentioned so much in other posts back in 2013, is easily achievable. The second paragraph means that we are spending wisely and have plenty of cash still available. If it wasn't for the negative sentiment around Russian Oil this share would be easily double its current value, even allowing for brent at £64.8 per barrel.

https://m.facebook.com/GlukozaOfficial

IMO Between the Majority Shareholders and the other large holders who have kept below the reporting radar (ie less and 3% or 5% for funds) there is next to nothing left to be traded. The market makers know this and hence are steering well clear, knowing of they try and short they will be left in positions they cannot get out of and knowing that any attempt to go long will double the share price. As per the RNS a few months ago, the major shareholders cannot increase their holding without making a bid, which given the lack of one they obviously don't feel the time is right or the price tag on the final 10% is too high for them. Could be tomorrow, could be 5 years from now, fact is any PIs holding now have no choice but to wait.

http://oilprice.com/Energy/Crude-Oil/The-Return-Of-Peak-Oil-Worrying-Signs-From-U.S.-And-Russia.html

http://time.com/3853451/china-crude-oil-top-importer/

Takeover or AIM? Given the complete lack of trading volume, I suspect the latter.

Very well presented Annual Report. As far as I see it, its really only the low price of oil keeping this down, though with Brent currently at 66.87 why this isn't back over 15p I have no idea.

"Despite the availability of new funds, a lower oil price is our reality. We will continue with a highly disciplined approach to managing our cash. As we have successfully done with our drilling costs, we will continue our drive to reduce to the greatest extent possible dollar-denominated services, and perhaps capitalise on the assumed slowdown in Russia to look for keen bids for any new capital expenditure." With a long term asset play like this, those are good words to read.

http://uk.mobile.reuters.com/article/idUKKBN0N517F20150414?irpc=932

At 58 plus. 70 by mid summer should help push thus share back past 17p.

@rbrand. I was thinking more Peter Gabriel.

Guys. Its just us, one or two funds and the Slavs now. IMO someone is pushing it down in order to make any offer look better. Jeux sans frontieres.

Check the terms of the refinancing. There was a big cash injection into the company. Also, if they thought the administration route was a goer, they wouldn't have injected so much fresh capital recently.

IMO, the funds want 50, the Slavs want 20. If we split the difference we get 35. The funds will take a loss and the Slavs will moan they are overpaying but neither side is going to capitulate fully no matter how long this goes on so it makes sense to do the deal now rather than waiting a year and doing pretty much the same deal later. I for one will not be selling till the deal is stuck.

Saw the same thing happen to TMC before it got bought out.

Can't see the Saudis cutting but I can see a lot of higher cost areas of the world winding down production because of lack of investment. Shale oil wells have a much shorter life span than conventional so in the next 12 months I expect us production to come right down. Oil will probably settle at the average break even price about then meaning about $80 in Brent crude terms. RPO meanwhile will be looking to get their gas fields on line about then since the gas price will be a lot healthier due to continued high European demand in the face of old coal and nuclear power station switch offs. The oil meanwhile won't be going anywhere and will be seen as tomorrows piggy bank while the gas pays for interest and addition capex. All this means the future profitability of RPO is far higher than the current barrels per day would suggest. I still think 50p is a possibility however given the current negativity in the market over Russian assets I can see why any bidder would at this moment in time be offering a lower price. Its in everyone's interest to get this resolved before we go to aim so I'm sure a price will be agreed before then.

Until the funds get bought out. Really feels like we are in a holding pattern now. Some MM may try and play silly bu??ers to scare people, but I'm pretty sure everyone holding now has developed a steely resolve after riding this rollercoaster for the last 2 years. IMO all the large shareholders (funds included) should lock themselves in a room and stay there till they agree a price. I for one am willing to hold till this happens, but would prefer, like I'm sure all shareholders would, to get on with our lives. After all there are plenty of other shares we could be trading in rather than sitting on our hands.

Because making gain through share price manipulation is all about creating fear and doubt in other investors, and some of the posters on this board see it as being profitable to try and achieve the same result through their posts. Think of some city wide boys hurling abuse at some young girl in a Shoreditch titty bar and you'll get an idea of the sort of pleasant individuals I'm talking about.

IMO if there is bad news tomorrow, whoever sold big today would have a hard job defending themselves in Court, particularly after the spars selling of recent weeks.

1) someone is trading on information not in the public domain (doubtful due to the penalties this can lead to) 2) someone wants to shake the tree before accumulating 3) someone has judged an RI to be on the cards and has pre-emted the market