Member Info for SMann

adoubleuk: can't fault the rampers/day traders for having a chance at this BUT O&G is a more complex sector as you say. And with one asset performing at half capacity HUR is in precarious position which justifies BOD action.
CA action is a red herring and I consider it to be a PR exercise to save face. If they really felt there's significant value you they would have taken action earlier and sought to replace exec team as well as NEDs. They need to save face.

LegalEagle: equity holders can make all the noise they can and want, and good for them for doing so. Sure there's some genuine long term holders who think there is value as well as the rampers. But in the end bond holders have the power (as they always do) and BOD can always justify prudent action.
The CA action is more PR than meaningful. If they wanted to make a real impact they would have instigated action long before a court hearing for the restructuring. Do the maths and the outlook is dim for shareholders

Crystal Amber action just to save face after a dud investment (actually multiple investments given participation in capital raises) in HUR. They style themselves as activist investors so have to follow the playbook but no way will they recoup losses. Wouldn't be surprised if they have derivative interest on the rise yesterday to claw back some losses.
Consider
a) level of debt held by bondholders
b) oil price volatility especially given ESG agenda
c) single under-performing asset
d) current market capitalisation
The rampers are enjoying themselves at the moment but as the heat subsides can see this drifting back. Well done to those who got in early though

And the drop begins, sub 1p again by close

The fact remains even with the jump in equity today (speculative) the equity is dwarfed by debt maturing mid-2022 with one asset with only 1 of 2 wells performing.
Wouldn't be surprised that Crystal Amber has positioned themselves to benefit from the positive news spin of RNS today to salvage some returns from a poor investment (£1bn+ market cap to c£25m today) and save face. This is supported by an odd requisition that only targets NEDs and not the executive team. Don't buy the explanation provided for keeping the exec team in place and there's plenty of hired hands available to come in if it was really thought a meaningful turnover would be achievable.
Enjoy the bump and be sure to book some before this drifts downwards again.

Came across this BAR and had a look into.

Current MC c.£30m is optimistic for where the company is. £9m t/o, £0.4m NP. Not much FCF.

BS distorted by cash proceeds from manufacturing operations sale. This will be quickly spent to market the stable of brands and likely to require a placing of shares to support marketing of brands in future.

Interesting play but probably worth a punt at half the current MC

Expect some big movement today. Sports Direct going from 0 to 18 per cent at the same time as announcing terms agreed for sale of Kitbag! SD Prob didn't like being snubbed when interested in Kitbag previously.

This uplift is being used by large holders to unload. Just look at small buys and large sells.

Anyone got any (rational) thoughts on why PG is upping his stake here? Goes against what I have been reading on this BB recently. From previous investments where he was a significant holder and things went bad he quickly sold out. Rational thoughts only please, no rampers or skidders.

RNS: The largest shareholder has increased holding Is that soft or hard promotion?

Why's that? Actual spread is narrower.

Saw this on the leader board today and it looks good: No debt Cashflow from production Paid for drilling in Q2 - why would they pay for drilling in this environment if there wasn't a high chance of success?? Peter Gyllenhammar bought in earlier at a much higher pricce - from what I can work out it was about 9p! Corporate overheads cut down too Bought myself some this morning, think it has potential to be a 10 bagger...

Agreed, however it is better than no production which seems to have been factored into the price. They prepaid abandonment costs for Athena which was circa £9m and for drilling in Q2 2015 on Niobe. The fact they are willing to commit cash to Niobe also bodes well imo.

Good to see Athena stabilised and net cash of 7m. Zero debt, corporate costs reduced and decent cash flow despite fall in crude prices.

The planned workover to replace the electrical submersible pumps on the "P4" well on the Athena field is nearing completion and it is anticipated that operations to de-mobilise the rig will commence shortly.

I would consider adding to current holding by purchasing shares from smaller holders who would otherwise find it prohibitive to sell their shares via a transfer.

I attempted to explain the situation when someone posted on this message board that CRES was going to go bust because of Daw Mill. They clearly did not understand the repercussions of the restructuring which Pollione has set-out in a far more comprehensive manner than I did. Thanks and well done. This is the sort of factual information and reasoning that is missing on message boards and should inform investment decisions rather than the herd trading and rampers/derampers.

Lidad66 should really do some homework before spouting off on message boards. The whole reason UK Coal became Coalfield Resources is because of the restructuring late last year which effectively separated the mine from the property. The value after restructuring meant CRES is effectively a property company with a rump of mines which was alluded to in today's RNS when it stated there was little economic interest in the mining division. Today's share price movement is due to ill-informed individuals like Lidad66 selling off.

Sad day for minority investors. I have a suspicious feeling the last two RNS releases have been an attempt to take the company private on the cheap by the concert party led by Tosca.

1. Sell-off expected given delisting from ASX. ASX investors crystallising investment. 2. Thunderball value was never recognised on balance sheet and represents a capital cost avoided. Only capitalised asset is Athena.