Member Info for SlowLearner

Welcome all newcomers to the OVG board ... a quick summary (IMO) from the last 4 years (a few of us have been holding and waiting for the market to spot the value in OVG On the plus side (values prior to today's rise) you have assets 5 times the market cap: 1 POLY shares worth 3x the market cap 2 Cash, cash equivalents and other investments approaching 2x the market cap 3 Cumulative tax losses worth more than the market cap (ie to a purchaser or when OVG in profit) On the down side: 1. Russian focus (and all the geopolitical risk) 2. Inactive management who aren't big on communication 3. A loan to a 3rd party that went wrong and a legal case ongoing to recoup the debt (part already recovered) DYOR but it seems a no brainer to me ... I'm holding for the SP to hit the 20's

The rise continues ... SP's broken 8p for first time since late 2014 ... POLY shares still looking good above £11 ... come on Management ... what's your verdict Daisan?

Hopefully people are now spotting the huge discount to asset value ... We need management to get in gear next

With a £4m market cap and 10% of the shares held by the company in treasury this becomes even more crazy / suspicious / bargain ... The rise in their Poly shares value this year is on a par with the market cap!!! The legal case is more pessimistic than last year but its still only a small amount versus net assets. I'm either glass half full (fill my boots ... I have a fair few shares already) or glass half empty (chasing shadows, eg the agm resolutions give them power to do anything to affect the PI ... Issuing new shares, diluting us, etc?) Its almost worth a trip to Dublin for the AGM and chat to management

Cumulative tax losses from last 4 years are more than the market cap so a profitable mining purchaser would get the assets for nothing at the current share price

Hi Risk Manager - whats the activity been on ISDX this week? It's been frustratingly quiet again on LSE. I have been side tracked by HNR . .. at least there is a steady RNS communication flow from management there. How do we wake up OVG mgt and get some comms?

Thanks for the response JPTrader. The board got agreement to a share buy back (item 17) of the AGM in September 15. It might have been a generic option that they do every year with no intention of being implemented but SPD has a bit of form on share buy backs (eg the company first started buying its own shares when the price dropped 70% in late 2007 after 3 profit warnings ... they only IPO'd in February 2007!!). It's an efficient way of MA increasing his stake / buying back the company without paying a bid premium and leaving a public minority stake so he can monetise part of his stake when he wants to raise a couple of hundred million (I have that problem every year or two - not!!). To be fair he's a brilliant retailer and canny operator who doesn't appear to worry too much what the market thinks ... I guess he doesn't need to and it actually helps a buy back if people like GS ding SPD and push the share price down. I bought at just over £3.50 with the hope of getting back to c.£4 ... but if SPD starts buying its own shares back then I will belt in for the ride back to £7 or £8. Having said all that most people I know sell shares when I buy them and buy them when I sell them !!!!

HI JPTrader and sm298ex, I'm new to SPD this week but bought in as the reaction to GS seems overdone. A year or so back there was a share buy back underway ... is that finished or on hold (any chance management will take advantage of the low share price)? Thanks Slow

It's a hot board today indeed ... if next week the share price makes it to double figures too then I'll only be too happy to welcome you back onboard

I hear you - I bought in in 2013 and topped up in 2015 and have watched it stagnate with my cash tied up. Its hard to work out what management are planning but they have good options so hopefully we will see some action. Clearly it doesn't affect what the company does but its interesting that there are 5 of us now who are posting on this share ... OVG board is lucky to get 10 posts in a year before now. Hopefully this is a sign that the wider market is waking up to the opportunity ... hence have put my money where my mouth is and bought another 50k shares this morning

what are you talking about - we've had 6 trades already this month ... its flying!! More seriously, I was hoping the £15k at 6p was the BoD buying up more shares but a one-off purchase is unlikely. This is a crazy share - a pile of cash and lots of cheap opportunities out there. I bought in during 2013 and am still waiting for something to happen

Candy: are you still in? I am holding ... been in since May2013 ... so seen the good times as well as the bad!! It seems there is no interest in the share but as you say at least management haven't lost faith. Shame about the odd PI seller pushing the price down but hopefully when we get news people will realise how undervalued the share is

Rivaldo - indeed it is .. everyone seems confident in this share. Feels like a slow rise back to 30 by end of the month and then hopefully on and upwards in December Lennie - Oh yes, I have the deluxe box set put to one side ready for collection on 22nd

lots of buys coming through now ... looks like more people are spotting the value in this one ... or Lennie, have you been getting your friends to support your push for Hamleys? Either way .... the bet stands .. this gets back to 40 before Christmas and Lennie's going toy shopping (ps do you have kids or have you got your eye on a new train set?)

Lennie, good spot. Have you also had a look at the half year report and the cash flow. Cash might be 5m less but trade and other receivables is up almost 5m and there is almost 2m more inventory. (nb at this ridiculous share price, cash balance has almost been same as market cap this week). I am strapping in for the ride to the 30's before the month is out

Lennie - looks like your shopping bag is full anyway with 100k at 26p But ... yep, if the share price gets back to 40p before Christmas then I'll get you a private tour of Hamleys

Lennie - don't worry about the share price today .. volume is still tiny .. the institutional investors aren't getting caught up in it. The true read is what the pros (analysts) think .. "Investec hoisted their price target on shares of Enteq Upstream PLC (LON:NTQ) from GBX 62 ($0.97) to GBX 64 ($1.00) in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. " Jolly - if you are looking for a cheap buy-in price then good for you. I am buying more today as well Lennie & Jolly - If this share goes back to 40p + before Christmas as I know it can then I'm buying you both pre-Christmas Lunch with the profits ... Gaucho Grill off Regent Street and a trip to Hamleys afterwards if you are anywhere near London

What's happened to you two, Lennie & Jolly, I pop off for 48 hours day trading QPP (a scary ride) and when I get back you have half lost the faith? Don't forget .. management bought in September at 32.7p; results on 14th Oct were in-line with expectations (as below), they have $14m of cash (even with a little sandbagging on inventory) and market cap is only £16m. Looking at the small number of transactions, you two may have been the majority of trades & knocked 2p off the share price (as its currently illiquid). Hence have put my money where my mouth is and bought some more ready for the full results on 18th!! "Enteq, the oilfieldservices technology and equipment supplier, confirms that trading for the six months ended 30 September 2014 has been in-line with management's full-year expectations. Revenues were approximately 45% of the full year's expectation with gross margins and overhead as planned. Net cash in the business remains at approximately $14m following some investment in inventory, rental assets and further platforms for growth"

Good work on COP. I like SQZ - did well out of the rise to 15p a couple of months back and am still in with 1/3rd on the hope of good news to come from the drill. My pain is in AZO ... in at c.1.2p, could have sold out at 2.5p but held 2/3rds all the way down to 0.5p. Very little support but doesn't look like it will go bust so am waiting. NTQ continuing to behave ... hopefully will nudge through 30 over the next week or two

Lennie, yep I am still in OVG ... starting to come good in last month - management doing something at last with the cash pile (share buy-back). Market Cap is still well under asset value but its Russian and not much of a free float so some investors wary. Are you in OVG yourself or just looking? I am hoping for 13-14p but its a slow share. NTQ having a breather today .. hopefully a lot more to come. I agree with your 32p level being key but think it could push through towards the 40's of the first part of 2014 (after the normal panic inducing wobbles back to sub 30). What else are you in? Slow