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There’s a pattern ART.
Deliver bad news, but offer some carrot with director pumping money in at a significant premium to the current share price. They’ve been doing it for a while now.
Rather than letting the share price grow organically, it seems this is the only way to make PI feel like they’re getting a deal if they buy now.
Seems to be alot of smoke and mirrors.
The actual value accreditive news (I.e. delivering alot of oil to surface) ah that doesn’t look like it’s happening. But they still have the nickel assets to sell, which nobody wanted before they took them, and they’ve not really done anything with in the meantime
Dan, that’s quite an odd thing to post.
People sell / buy / trim down positions all the time, anyone selling still has a voice, in the same way that buyers do too.
Because you think everyone should buy and be happy with the latest RNS, and not have a negative view, doesn’t discount their opinion. We all have one.
People can turn bearish on a stock / the leadership team if they feel lied to, it doesn’t mean they should remain silent or always mention the positives on a company. It’s an open discussion board.
IMO the news is not good and those who want to lead others down the same path are often to blame for people losing their shirts.
If the RNS was positive and clear yesterday, I doubt you’d have angry investors here
No worries, I genuinely don’t feel like many here can see the wood for the trees.
IMO the RNS was deliberately vague to tick the ‘updating the market’ box with ‘we might have a problem’ but confusing enough to be fooled into buying more in the hope that they interpret it the way the main market is clearly not…
8M market cap isn’t so cheap if you have licenses no one else wants, dry wells and have a board that pumps upbeat and confident news coming soon on social media, only to deceive them with the real ‘bad’ news, hours later. Each to their own I suppose, but how people have money in this stock the equivalent value of a nice detached house, boggles my mind, they must know what we don’t
ART you might not have noticed that my post was entirely sarcastic! And I was humouring those on here who seem to think all is rosey and nothing could possibly be wrong here.
Yeah maybe they released the RNS at 4pm on Wednesday night, because it is actually good news for the market, and everything is right on track, and they are just allowing all their friends to get in on the cheap before this rockets to 36p.
Kat I’m not sure this is a posting battle.
This stock has always been low float and moves (in both directions) on small amounts of money.
If you are happy that the board is not particularly honest in its communications and confident that the RNS today isn’t bad news, then the share price this evening is irrelevant and fill your boots on those ‘cheap ‘shares. There are easier and safer ways to make money and I feel for the loyal posters here who have been stung year after year
I hope you get your 1p Derry!
I remember an article on the coming years ago talking about the value disconnect and wanting 13p (when we were at 1.5p)
Now I see some on here hoping to achieve 30-50p in the next 18months?!
What will be will be, but as another member has said, if they’ve taken 7 months to drill 800m holes and the license/holes were picked up on the cheap, perhaps it was known by other oilers that this isn’t producing anymore. The fact they haven’t come out and explicitly said that in the RNS doesn’t mean it’s not a duster, they will probably give that news in the autumn, before announcing another plot twist
Yes I remember you and still see some familiar faces(names)on this board.
Happily I sold out the vast majority of my shares some time ago, I have a very very small amount here purely for interest.
I wouldn’t have the b&115 to have much in this company now; we seem to have completely pivoted our business model and picked up new ‘assets’ for peanuts and it felt like Groundhog Day. All the while, we have a financial backer, willing to keep pumping money into the company at double the current price - nothing is ever that easy or straightforward.
Derry I do feel for the person who scooped up another 500k shares and the trade executed a few minutes after the RNS was lodged - really bad timing!
If they have bad news to give, I get that, but don’t hype the market up only hours before you give your shareholders less than pleasant news!
They did this with the peaker plants and battery metal projects a few years ago.
Looks like Google has an UT
It closed at bid 0.45 /ask 0.50
Why on Earth do the company post things on social media, when they know they are about to drop a very nasty RNS just before market close - erodes any remaining trust.
Don’t know who that is, so no.
I’m pointing out that this share rose from about 6p to 30p last drilling with Minchin at the wheel and it went very wrong. It’s very easy to read too much into facial expressions and CEOs appearing confident for the camera.
I’m not saying this will be another duster, but they have no money left after this drilling campaign, so the RNS coming must say commercial discovery…
DM was literally swimming in the waters grinning ear to ear and telling everyone they expected a discovery - it wasn’t to be.
Be careful reading too much into LB doing the same thing, the company has history and if the RNS drops and it’s bad news, you won’t have a hope of recovering.
Only bet what you can afford to lose here
I did message about this company a few times when it all felt too much like Groundhog Day.
Glad I’m not in this one.
They will likely need a raise to keep going and at this rate will be placing at 1p
Hope not too many people are heavily underwater as I’m not sure there will be much positive to come out of the company
I am a long term holder here, although don’t post much.
I think what we’re seeing honestly, is the market reaction to what AP has built up to be a really good deal (it is a fair deal) but I feel like they didn’t have the offers/ interest they made out to us since the Anchois discovery. This was the best deal for shareholders they could negotiate in what feels like 2 years??
As was the case last time they drilled, the warning signs were there Friday afternoon.
I would be almost certain another raise is coming to keep this company and its staff paid for H1 of 2024 - likely to need to be done at well below 3p.
For those involved in this share when the first drilling result was announced, DM also tried to spin it that there was certainly gas shows throughout the drill - unfortunately that won’t be enough to keep the market happy this time around. The fact they are moving to another location suggests they haven’t got the outcome they wanted.
So whilst Lorna was posting photos of herself smiling with the local school, the rig crew were telling Everyman and his dog to dump the stock and leaking the bad news out.
Sounds like a familiar story to Minchin swimming in the sea and giving his Attenborough esq speeches of the first helium discovery 100 years ago.
People saying this is a 50/50 punt forget the leaks this company are now prone to.