Member Info for Spikeyj

.... meanwhile, i'll stick with my previous COB price prediction,
although i am less convinced that it will emerge from suspension.

(all bets null & void if no return from suspension)

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interesting point on RNS timing from wshak.
he notes that releasing the RNS so late today
means that the outgoing nomad didn't have
to sign off on it. ( - would WHI have agreed it?)

fair point banjo2, my
apols for the spelling!

has a good point at 16:11.

no wish to fight, I’ve already stated my own guess
about what happens next at 21:10, and have also
said what i think the COB share price will be after
resumption. fine by me for others to think different.

— situation on 9th april ...
company says its nomad has resigned, and it is talking with a
possible new one, and it believes that it will conclude a deal
with that potential new one by the time the old one has gone.

— situation on 30th april...
company says its nomad has resigned, & it is still talking
with a possible new one, but it has failed to conclude a
deal with that potential new one before the old one left.

as I’ve posted before, my own guess is that they will secure a new nomad.

but it is not yet sorted. in particular, completing due diligence will not
necessarily mean the nomad will like what they find once DD is completed.

DD is a kind of evidence gathering, so once gathered the nomad will have to
weigh up the pros and cons, from its own perspective, of taking on that role.

hence completing DD often leads into a negotiation phase, in which nomad
sucks its teeth, shakes its head sadly, and says, well, i guess i could try if you
want, but it’s gonna cost ya... then company says, what do you have in mind?
- & so ‘advanced discussions’ progress until deal is done, or they walk away.

so my own guess remains, they will get a nomad, but price will include
someone’s head on a plate to take the fall, & proper clarification re CITIC.

they are going bust.

they cannot even raise the *deposit* for
that small extra slice of aje, let alone find $3m.

they are losing money on every barrel
they pump with these kind of of oil prices.

significant project level debt remains outstanding.

unable to get any kind of placement away, so running on
fumes and short-term loans at unspecified interest with
excessively flexible warrants given away as sweeteners.

minimal BoD shareholding, very little skin in the game
compared with the monthly pay they give themselves.

BoD continue to drain high levels of cash every month,
no cuts announced for renumeration for the directors.

massive overhang from peel hunt, plus outstanding warrants.

no significant assets besides the aje stake.

no cash to pay for any new assets, but authorisation to issue a
9 figure number of new shares. (who on earth would take ‘em??)

no money to pay for new drills for aje wells as these two deplete,
& no money to pay their share of any field development plans.

rerating certainly overdue, but maybe not
in the direction that peel hunt would like.

TD2, WRN in particular was instructive, given active presence of insiders
across multiple platforms, the involvement of FCA, and frequent threats of
litigation, so it was a good testing ground for how lse admin function (or not).

... still a month left to enter the
COB on resumption share price.

lenoman, 15:29, you deramper, you!

companies that do not have nomads usually still manage to
issue the necessary RNS to say when they become delisted for
having no nomad (i.e. despite having no nomad to approve it.)

LSE admin *have* been similarly active in the past on the boards
for other shares. two relatively recent examples of that would be
the CTAG board and the one for WRN. LSE don’t tend to explain in
detail their reasons for most post deletions, but in particular they do
seem to be quite active where they are concerned (a) that material
being posted is potentially defamatory/libellous, since LSE site could
have liability vicariously as the publisher, and (b) where material is
posted that purports to be based on some kind of insider information,
**whether that information is true or not ** since there is risk of market
manipulation from posting insider information that is true, but also risk
of market manipulation from posting false ‘inside’ information. the key
problem is that others have no way of verifying such information one way
or the other, if it’s not public domain, hence distorts level playing field.

although EUA shares are suspended from trading on the exchange,
(a) shares *can* still be bought and sold privately, so it *is* still possible
for share price to be manipulated, plus (b) posts made while suspended
might influence who buys and sells if it does resume, hence there is still
a risk of market abuse from people posting (supposed) inside information.

“Any problems and big banks like CITIC would be nowhere near it.”

... which makes it all the more interesting that EUA still hasn’t
sufficiently clarified the nature of the relationship with CITIC.

dealer, in what sense is EUA not really an AIM company?

hard to know at this stage what EUA is ‘like’,
but i don’t think it is as bad as WRN was.

dealer55, WRN came back after being moribund & suspended for years, with
a meteoric rise in s/price before being suspended again on the orders of the FCA.
WRN has remained suspended ever since, & five years on is still in compulsory
liquidation and still under investigation by the FCA, with the assets of some of
those involved subject to proceeds of crime orders. — as you say, these things do
depend very much on what the actual news is, & the real nature of the underlying
business, if there is one. personally, i do think there is a genuine business here,
but i don’ t think there was one at WRN, which is a great exemplar re dangers of
relying too much on optimistic, forward looking statements & value of ‘potential’.

“Post history’s [sic] stick with you ...”

lol, but not with posters who keep getting
banned & have to keep starting up new IDs.

“... careful of who you listed [sic] to ...”

for once, good advice, despite spelling etc.

https://www.youtube.com/watch?v=d-diB65scQU

https://www.youtube.com/watch?v=d-diB65scQU

https://www.youtube.com/watch?v=jHPOzQzk9Qo