Member Info for Sir_Hector

I can’t get a quote for 50k again this morning, nothing to buy!

Well the market has been gobbling anything available up for the last couple of days and the well appears to have dried up. I failed to get any more and I was trying to buy 50k so it’s just crumbs remaining!

Someone has just bought 250,000 yet my efforts to buy 50,000 are unrewarded!

Ell they could always just post some progress pics on the website!

It was a busy day trading yesterday and mostly buys suggesting any free float has been exhausted. I topped up but in several bites as availability was limited despite the crazy low price. I know the market needs news and lacks confidence but I’d have thought suspension last year would have been the low but we’re a long way off 8p today!

Have just been browsing Carnegie Station FB and it looks like the gunbarrel highway has been closed again due to flooding. Passable now but clearly not yet for a drilling rig! With luck other works have been able to progress but I anticipate that things will start moving more rapidly now the weather has improved.

It seems everyone agrees this is good news judging by the flood of buys going through. I just tried to top up but no trade available. How soon before the sp starts inching back up?

Well Miker is confident that they are getting on with Hussar, that based on information shared at the recent General Meeting. However, there appears to be very little in the way of supporting evidence. We need an update from Georgina!

Miker, I’d have liked to attend but it wasn’t a practical proposition for me unfortunately. What was presented? Did you see evidence of progress or was it just verbal assurance? Why haven’t they posted any pics on their website?

So, a re-rate to 3.25p on market close. Is that presaging news of progress on Tuesday? Makes sense to let the SP drop and allow their mates in before a rise if you accept the cynics view. However, the next move is up on news of progress. Nothing to be gained by not pushing as hard as possible with Hussar now and follow that up with the prospectus and the £7m for Central hot on the back of the spudding!

You do realise how remote the site is? Every last bit of everything you need to carry out any work has to be transported 500+ miles. The nearest human habitation is a 3hr drive away. So, having said that I do agree that an up-date is overdue. There’s nothing wrong with setting realistic targets and allowing additional time for the remoteness of the location, but there’s nothing wrong reason why images and information cannot be shared.

It’s not impossible although I’d have thought the rig contract would be with Harlequin who are funding it. It might be for some of the repair works or perhaps a five year block booking at Carnegie Station, who knows? We may get an RNS update at some point soon I’d hope.

I suspect it will be Sept/Oct at the earliest for the drill, there’s a lot to do to mobilise labour and equipment to get the necessary infrastructure in place. And, as you point out, lots of opportunities for things to slip. The location is crazy remote which simply makes things so much harder as there is nothing to hand. It might as well be on the moon given the distances to the nearest vestiges of civilisation. We are also coming into the winter months and there could be weather event related delays too. Whatever, they are planning to drill and will do so at some point. If they hit gas in the form of the predicted quantities and make up then there will be much rejoicing!

This was always primed to turn into a complete sh*tshow from the moment the CMCs piled in at the first sniff and then the law came down largely in favour of the lenders putting the FCA in the middle but with no cards to play. In reality this should have all been dismissed and left to the very few genuine claimants who’d been stitched up to pursue a private claim. The vast majority of consumers were happy with their lot at the time, and so much time having elapsed, could never have hoped to bring a successful retrospective claim. Now it seems there will only be losers, even the CMCs too you’d hope!

Yep, very little free float in reality. Although there are no big institutional investors and the directors have a substantial holding, the vast majority of the remaining shares are held by long term investors sitting tight. Most of us bought in at a higher SP than current so no motivation to sell. Months of negativity have eaten away at the SP and it’s been traded to a bit of a standstill. You can pick up a few 10k of shares easily enough but you’re unlikely to find a big order fulfilled any time soon!

Exactly why would they not drill? The funding is in place and there are seemingly no further obstacles to overcome. There is clearly confidence that it will happen or they wouldn’t be able to issue shares to cover costs. Just sit tight for Q3 and we’ll see!

Well I took a small top up, possibly tilt be able to buy under 4p with any positive news and there must be something in the pipeline soon. I’ve tried sitting tight and holding but it turns out I’m not suited to it!

This stock has plumbed depths it never should have sunk to only because it got stuck in a shorter’s frenzy. This has always been a tech stock underpinned by the retail side. With the outlook for retail improving and the growing interest in the technology they have protected, the stock should return to a more natural position. Whether a predator comes along and gobbles it up first is another possibility given the current price.

Indeed. I wouldn’t expect to see a huge recovery over night but a gradual hauling out of the mire perhaps. As you suggest, a combination of management activity and some good news on the redress liabilities will help no end

I’m rather hoping OCDO have moved out of the choppy waters they’ve been in for a while now. Easy victims of the shorting pirates who thrive on negative sentiment driving the price down further. Whether the recovery will continue rather depends on there not being any more nasty surprises in store!