Member Info for Spikeyj

very entertaining posts today, thanks all.

so with regard to barracuda and the cpr, ginksy argues that the cpr has not
been progressed because it would not be prudent for ADME to spend money
on something which they might lose (- or be told they never really owned it!)

BUT ginksy and other rampers have also previously tried to argue that ADME had
not previously informed the market about the barracuda dispute because it was
trivial, with zero merit, not risky for ADME, & the sort of thing that happens all the
time to companies operating in nigeria, & hence it would be excessive to RNS it.

lol, doesn’t really square, does it?

if the dispute is serious enough to justify deliberately building in a delay
of more than 6 months to CPR, and hence to other aspects of exploiting
barracuda, that doesn’t really make sense if the dispute is so mundane &
utterly without merit that ADME didn’t think it needed to tell the market.

(particularly as ADME had RNS’d when the announced the CPR that
it would take 4-6 weeks, and they would keep the market updated.)

thanks, i was guessing that was what you probably meant, but wasn’t sure. with
ADME, all sorts of stuff is possible, e.g. as i think there may be some issues about
whether or not ADME has complied with cash calls being made on it by other(s).

apologies for asking waundwrgi, but i don’t want to misunderstand.

which loan provider are you saying is in dispute with ADME, please?

hi paul, i am primarily a long investor, so probably not the right
guy to ask about equity trading systems. … but on the whole, i
usually try to buy lower and sell higher, unless i am (less commonly)
playing around with small-ish spreadbet sells, in which case it tends
to be helpful to try to do it the other way round! ; ) gl & atb.

if ADME is entirely confident of its claim to barracuda and therefore of
the legal outcomes from court, why on earth would ADME want to delay
the barracuda CPR even further?? - it’s already almost 7 months overdue.

it’s going to go up & it’s going to go down, not necessarily
in that order, lol, and then eat sleep rave repeat. gonna be
a volatile year, and in the very short term ukrainian soil is
nearly frozen enough to support the russian tank tracks.

? best to think about SMT
as a long term investment?

or trade the arse off it, lol.

? is that it? - any other evidence?

nobody has ever produced commercially
viable oil from drilling at barracuda.

if osa mortgages aje to drill at barracuda, but
the drill does not produce, then that’s aje gone.

mind you, it’s a fairy tale anyway, since there is zero possibility imv that
osa could raise enough money against the aje stake to fund a drill at
barracuda — aje isn’t remotely worth anything like the amount needed.
( take a look at some of the numbers in london’s 16:43, for instance.)

osa and buddies desperately need a story that they
can spin to get the volume up for the next placing.
? maybe they should pay align to write some puff?

? what makes you think that a first well would
produce anything commercially viable, ginksy?

AZN getting on with biz.

placings are needed just to fund the directors’ pay and
perks. the rest is just window dressing to puff the shares.

barracuda is just plain fanciful - nobody has ever managed to extract a single
barrel of commercially viable, profitable oil from there over several decades,
& ADME are more than half a year overdue to even produce CPR for barracuda.

sure, align would like to exit, but so would almost
everyone else. the problem they all have is how.

worth remembering, according to ginksy on 14.1.22 at 19:38:

“The only placing that could occur is if the shorters
get control of the company by ousting osa.”

… so how will osa pay the bills without a placing, lol?

if someone does try to raise £1million in an placing of ADME shares,
they will not get anything like 0.5p per share equivalent imv — wildly
over-optimistic. market can see that this company is a busted flush.
0.2p or 0.3p (pre consolidation) is more realistic for a few ‘00s £k.

london, see the section here on ‘Share Values’,
re share issuance in relation to nominal value:

https://www.pinsentmasons.com/out-law/guides/shares-and-share-issues

london, i would expect them to attempt something like a 1:50
or 1:100 consolidation, as a condition to their next fundraising.

as it currently stands, they are not legally permitted to raise funds
at less than 1p per share, since the nominal value per share is 1p.

ginksy: “The only placing that could occur is if the
shorters get control of the company by ousting osa.”

seriously?? - are you really trying to pretend that there
won’t be another placing if osa retains control?? - LOL!!

this company has no cash left … unless they do a placing pretty
darn soon, they cannot pay their bills & will go into administration.

pwhite on advfn points out that shares have nominal value 1p, so if they
do attempt to get a placing away to save the company from administration,
it’s probably going to have to be conditional on shareholders agreeing to
a consolidation at an EGM, since the company couldn’t legally place below
1p without some capital restructuring. (- yet more ‘admin’ expenses, lol.)

i note that ginsky has not attempted to respond to london’s queries
about where ginsky was getting his rather extravagant figures from…
in the absence of evidence and sources, ginsky appears to be simply
guessing (at best) or just making numbers up for the heck of it. i also
note that ginsky has not managed to name any publicly listed company
where osa as director ever made good money for ordinary shareholders.

i neither know nor care whether osa or richie will win next week. both as bad
as each other, and imv neither will save ordinary shareholder investments in
ADME - but just as a rough guess, probably osa will win, out of sheer inertia,
and then a few of the traders who’ve taken a punt in hope of s/t price action
on a major BoD change will sell out, & then market will anticipate an imminent
placing, as this company will otherwise run out of cash within next few weeks.

aimho.

london, thanks.

hi londonfish, what do you think of the way that nigeria
conducted those marginal field bids (where ADME got nowt)?

sharepicks, to take that in proportion, take a look back about how
much pay and perks the directors have been extracting from ADME.

the amount of money that they claim to have invested in ADME shares
is trivial in comparison to the money they leach out on an ongoing basis.