Open Orphan pharma spin-out Poolbeg Pharma present at London South East's October live event. Watch the full video here.
Dipped my toes in a couple of weeks back,must admit I was a bit weary of O&G after the last 18 months with BPC/CEG , swore never go back and went with Tech which thankfully covered some losses. With all the positives here couldn’t help myself and with a trusted BOD what’s not to like GLA seems like a winner
Don’t shoot me down but is it not the Delayed 31-12-20 annual report we are due by no later than 30-09-21.
How will this report reflect in any way the companies present position. SC put out a very viable post on questions that apparently the BOD don’t think shareholders have the need to know . I have one more question, on the great PR run up to the rebranding, consolidation and placing the running costs were to be aligned and reduced with the company’s actual production ( the only thing I’ve seen was a RNS with a bonus scheme to enable them to recruit more) what are the running costs, so much wrong here it’s not right.They’ve run out of carrots end of, now when I visit this BB all I can see is a few donkeys chewing on a piece of rope, (not careful enough to hang them selves) The share is only holding due to PI’s reluctance to take the loss, any movement in SP with the low volume can be done with 10 grand at buy intervals. The BOD should be made accountable for the last 12 months and their misleadings. BOL to all, nobody deserves to lose money through deception, gambling yes.
Fatal harm Hi
Let’s go back Pre November shareholders were informed that the drill ( approx cost of 21 to 25 mill $ ) was fully funded for a 45 to 60 day drill. Covid was present and allowances had been made. November they started with the excuses and various funding The Rig was on site 50 days So please while your asking SC explain how the drill ended with the anticipated 45 to 50 mil costs. Not forgetting we were already to drill in March 2020. Where do the lies start and where do they finish or have they
To be honest my intentions were selfish. With this long awaited highly Ramped spike on S2 results the one that was to be the companies saviour,I had a lump to throw at it to hopefully make a quick double up and straight back out, thus giving just a small consolation for monies I’ve lost here over the last 18 months. Not going to bother, you only have look at the size and intervals of the buys to see this spike of 0.2 p is false and won’t hold. There sure ain’t any news to make it rise and reading through the RNS nothing in the near future other than the funding option chosen. Best of luck while it lasts to all
I’m missing something , the company owes more than it’s worth. It’s future survival ( that it has no finances to carry out) to drill some wells at 3 mill a pop Sw 3,4,5,6,7,8,and 9 that may produce 80 bod ( 2 years to cover drill costs) The interview that you promote is one of a failed CEO looking for sympathy from shareholders that have been mislead and lied to over the last decade. The only reason the SP is holding as it is due to LTH refusing to take the loss, any bit of good news will be sold out by people just wanting out of this dog. The interview ended in Let’s see we’re we are in 3 to 6 months yeah let’s go team CEG
Ps there is other charities you can give to other than the CEG salary fund
Wife’s just been on the phone not good.
Basically she wanted me to know that the shares that I convinced her to buy in Dec (BPC ) 1 mill for £25,000 were now only worth £1,800 and I was a bol@£&5s . I didn’t even go back with the told you to sell when I did remark. One thing good though at least she knows I’m skint after my investment so won’t be bothering with the divorce for a bit anyway
SC may I say the below statements are more what you would expect from the BOD, than us mere shareholders.
At the current $8m/yr gross, ( where can I find this info )
And due to the current administration’s publicly stated contempt for drilling and alleged license fees owed, CEG has no intent to provide it until these matters are clarified (is this a personal view if so don’t quite read that way )
As for your appraisal of the past, it may read well for the recent and new here, but for those that had shares and bought in up to beginning of Nov on this fully funded, dead cert we may have a different view. Yes it was a gamble, but when the company was dealing from a deck with all the face cards missing, the odds of winning lessened right up to the 8th of Feb. There was no traders taking profit holding this back, the chance of any rise going into spud and results where destroyed from Nov onwards by management financing,for a 25 mil drill that will end up over 50 mill. I was one that was in for the result what ever, that Monday I woke to a 30 + grand loss it was a blow but could of been the opposite.
The regrettable bit of my time here is post P1 where I Avg down still in the belief that there was some goodness here (I lost another 17 grand in that belief). So celebrating this wonderful past 12 months,the management again have strung shareholders along with delivering no news on the only 2 items, instead leaving it up to shareholders to wish and dream. I do sincerely wish all here the very best, but your biggest downfall is the present BOD and it’s contempt of its shareholders.
In a nutshell last 12 months
Lots of Dilution most down around 90%
P1 BOD haven’t thought Shareholders deserve to know outcome of results, after some LTH’s been funding its 150 mil drill for 10 years or more. (Guess they will let shareholders know when the final bill comes in whatever that is )
The loyal shareholders that stayed with hopes of news and some value return, from saffron 2 and the drilling spree to follow afterwards,11 weeks from spud and still no results. So in summary your invested in a company that nobody knows what its worth, how much they owe, if they have any prospects. One thing that has happened over the last year the management have been paid well (as they have for the last 10 years and will for the years to come) Hands up and honestly who wishes they had never heard or invested here in the first place, how many are just wishing for some news that lifts this enough for them to get out . How can anyone trust or believe anything that this company says it’s not kept up to anything. So yeah happy 1st Birthday
Who know what they owe,10 to 1 they owe LSE some money along the line,hence they stopped printing their RNS’s
Strange saying SC (Honest John.’ It’s the sort of name a somewhat dodgy used car dealer in the suburbs of Melbourne would use) and that’s the sort of saying someone living in Sydney would use. You don’t post in the day because your busy as you say (my foot your asleep) No wonder you greet us each morning with the full page you,and the BOD’s have had all day to put it together tut tut.
Oh I forgot to mention P1, the iconic drill by a minor in the Bahamas, that without its happening none of us would be here today. MHO, it was a dream of all for many years of fortunes to be had , and for many years kept the management in good standing. I like many took the bait, there where plenty on here giving advise on reality (Ross but one ) but I as those of you now had the rose tinted glasses on, the words of dead cert /fully funded still ring ringing now,what was to be worried about. It was still a gamble and 8th of Feb the story tail ended in a Duster. Without CERP assets and the carrot of a Major interested in the results of P1, BPC would of been over. Again none or just enough info from the management strung Investors along till now believing that a Major was interested, only news really given was by local tabloid, even today 6 months we have not even had conclusion from the BOD on the drill results, except the final bill is looming, Let’s be real, its over, a company that if had this apparent mega asset would not be letting it and the SP slowly fade into the past, as the new news of Saffron takes over it really gets mentioned by the BOD now . Please tell in the past any Major that has come along a given a company with a 14 mil MC a 100 million for the info of where to drill a well that has no oil. Again if out of the blue if I wake up one morning and a RNS is out stating BP has given CEG 100 mill and going 25-75% on future drilling in the Bahamas (on licences we don’t even own anymore ) I will sincerely be apologetic to all. Personal don’t think that will happen, and its all over the only memory of it shortly will be Simons continued Salary and Bonuses for a job well done.
I give up the beginning of July, approx 56 grand down (the negative side of MHO). My wife has 100,000 shares formally 1 mill before consolidation, 20 grand down (the positive hope she gets some money back and forgives me for telling her to invest)
MHO over the next 2 months (If S2 is less than 100 bopd lights out end of ) On confirmed news that S2 will deliver min 200 bopd there will be a automatic spike with new money and investors/Traders , this I believe within a day will have the SP 3p+ Great. We now have to take into account that most of the shares held at the moment are of LTH’s that are happy to either put away for later( 40%) or refuse to sell at a loss (60%) hence the stale movement over the last few weeks the bottom . Back to the SP, we are talking about a well that may produce 200 bopd (not a lot and maintaining that vol questionable) The value of S2 not the prize, but the gateway to bigger and better things maybe. As soon as the SP hits the 3p+ the wise, disgruntled and traders will begin to sell, slowing the spike . Come 3.5p a wall of millions of shares owned by LTH’s that will either want out due to having enough of the lies or selling for a small profit, at the same time the BOD will take opportunity on the rise to put out an RNS positively explaining the funding strategy for the next drills S3,4,5 etc. Let’s not forget we still have not made a £ at this point and every penny we borrow to develop the field will be paid back at a price, lets not forget CEG owe a lot of money for BPC yet . So in a nutshell unless you have a exit strategy , looking at a quick trade or are determined to close your eyes for the next year or so, give it a couple of months, when true outputs company wide are known, when finance has been sorted for development of future drills (dilution), the money owed to parties ( from BPC )settled, she then maybe viable ( you may pay a bit per share more, but not end up like most on here out of pocket.
I hope she does really well for not only for the wife (and our relationship) but for all the honest holders. A problem will will haunt this share for a long time to come that is the poor management to date (150 mil has been spent of shareholders money so far for nothing in return except their wages ), it will need to change the BOD or have a rinse of PI’s over the near future. Personally think a BO would be the best news ever, until then trade well, but as an investment you’ll need to be not only young ,but rich.
All the best to the Honest
No fear a life lesson learnt from being here, the pain not so much to the monies I lost, (56 grand )that is slowly on its way back fingers crossed. Like a trip to the Dentist you keep putting it off, but beginning of July my misery was over and my last shares sold. The wife on my encouragement bought 1 mill pre P1 = 100,000 now days and refuses to sell, so about 18 grand down (she actually turned my dinner off Friday night when I told her about the BOD bonus schemes ), People may say that the few people that air their views on here has little but none effect to the movement of SP, but I for one can say it was coming on here back in March 2020 that got me to invest. Anyway 15 months on Lessons learnt from being here, the BOD are in 1 word scum, the company in the way it has treated its shareholders disgusting the rampers should be ashamed. Different outlook to AIM now I have 20 grand sat in my account spare, if this pile of c==p has any tendency to move north I will be in and back out like a yo-yo . Trust is a thing of the past
The BOD need to clean out the LTH’s. They need fresh money and cash cows if they are going to break the 3.5 wall
Thanks fellas for your money over the years but if you could just move along and let us start the cycle again . People buying now will think it’s great with results next week with talk of funding and BOD options at 4.5 Like us you try getting there, AIM is gambling but this one the BOD are dealing a deck with the face cards removed. No need for deramping on here The BOD doing a great job on their own
I be been in since end of last year, so sitting happy on a 4x even with the drop . I suppose you could say I feel like I’ve lost one of me bags at the airport, I’m sure it’ll turn up just as we’re about to take off.
Couldn’t help myself. Sorry