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Emyem79 - For accuracy, I stated the other day, " I shall cease my input on this board, .....unless of course Scot and olderwiser that have absolutely no financial interest in 88e continue their attack there."
OlderWiser has no less than 12 posts on 88e this morning alone - some might say rein your dog in!
However, I have at least not made any post here other than pure technical analysis which if you read it you would note that it should be of value to ALL whether you are long or short, so no bias even from me. I have made no comment about the fundamentals of Panr, whether I think it overvalued or mentioned a placing.
I would say I am absolutely restrained and have kept to my word, not like the out of control OlderWiser who seem incapable of leaving other shares alone even when he is uninvested.
Siggins, not sure what more you need to know however, I only, for the first time, just looked at creating technicals for Panr a couple of days ago. your assertions are incorrect. I am not short Panr, I am not paid by anyone to post. You should rather than get yourself in a stew, read my past posts you will know why I initially started posting here.
I'll not answer these same questions again.
Tony, correct, news flow fundamentals will always trump technical analysis and even more so in AIM that say for instance FTSE 100 or even forex come to that. However technicals can be accurate with fairly to very liquid stocks, specifically in times of news vacuums or such as now, when news is awaited.
I would suggest that looking at the fib retracement points and major indicators where available, technical analysis is quite compelling with Panr, no doubt though a bit of news, good or bad and technical goes out the window as fundamental trading will take priority.
As you know, technical analysis is both an art but does have some basis in science as regards trading and mental behaviours, it is like I have always said, its just one tool in a toolkit of options available to traders and investors alike, people think technical analysis is only for traders, not so, we are all traders, only timescales dictate on whether you call yourself an investor or a trader.
Will look at i3 shortly and post an analysis either later today or over the weekend.
Bearish engulfing candle just posted , now under fib support, next short term support 29.8p but a more realistic support being the fib projection at 27.7p (which is also the 61.8% more major fib).
Price will also be drawn down here by the major indicators, these being the 100 day SMA at 26.3p and the 200 day SMA at 23.65p.
On balance volume (OBV) continues its decline and of particular relevance is the MACD which has firmly now broken down and changed trend through the signal line - The drop will imo continue.
For those unfamiliar with a cross of MACD and signal line - it indicates a shift from bullish to bearish momentum. Traders might interpret this as a sell signal or as an indication to close long positions and potentially open short positions, depending of course on your trading strategy and risk tolerance.
NOTICE TO THE RESPONDENT
This application is made against you. You are a respondent. You have the right to state your side of this matter before the Court. To do so, you must be in Court when the application is heard as shown below:
Date: April 24, 2024
Time: 10:00 AM – 12:00 PM
Where: Calgary Courts Center, 601 – 5th Street SW, Calgary AB (by Webex – see Schedule “C” hereto)
Before: The Honourable Justice Yamauchi
Go to the end of this document to see what you can do and when you must do it.
WARNING
You are named as a respondent because you have made or are expected to make an adverse claim in respect of this originating application. If you do not come to Court either in person or by your lawyer, the Court may make an order declaring you and all persons claiming under you to be barred from taking any further proceedings against the applicant(s) and against all persons claiming under the applicant(s). You will be bound by any order the Court makes, or another order might be given or other proceedings taken which the applicant(s) is/are entitled to make without any further notice to you. If you want to take part in the application, you or your lawyer must attend in Court on the date and at the time shown at the beginning of this form. If you intend to give evidence in response to the application, you must reply by filing an affidavit or other evidence with the Court and serving a copy of that affidavit or other evidence on the
applicant(s) a reasonable time before the application is to be heard or considered.
This is obviously disappointing however I want to highlight a few points that I think the CAG need to be specifically aware of and at least raise to the lawyers.
The first point being;
1. Protection and Release Orders: The application also seeks to release and protect various stakeholders including directors, officers, and legal counsel involved in the restructuring process from future claims related to the actions taken under the CCAA proceedings. - Protection and Release Orders are commonly sought to insulate key parties from future legal claims related to their roles and actions in the restructuring process.
If there are suspicions or evidence that the restructuring under the Companies' Creditors Arrangement Act (CCAA) has been engineered by directors to improperly divert assets or otherwise defraud shareholders or creditors, there are several legal and regulatory mechanisms that can be triggered to address such misconduct:
Legal Remedies and Protections
Challenging the Protection Orders: Stakeholders, such as creditors or shareholders, can challenge the issuance of Protection and Release Orders if they believe there is evidence of malfeasance. They can argue that the protection should not apply to actions rooted in bad faith or fraudulent behavior.
Investigation: Allegations of fraud or abuse of the restructuring process can prompt investigations by regulatory bodies or a court-appointed monitor. The monitor’s role is to oversee the process and ensure compliance with legal and ethical standards.
Litigation: Shareholders or creditors can initiate legal actions against the directors if there is evidence suggesting that the restructuring is being used as a façade for fraud or asset-stripping. This litigation could seek to recover damages or reverse fraudulent transactions.
Criminal Charges: If there's substantial evidence of intentional misconduct or fraud, it could lead to criminal investigations and potential charges against the directors involved.
Directors' Duties and Liability: Directors are legally obligated to act in the best interest of the corporation, which includes a duty of care and duty of loyalty. Breaching these duties can lead to personal liability, despite the restructuring context.
IMPORTANT - IMPORTANT - IMPORTANT - IMPORTANT - IMPORTANT - IMPORTANT - IMPORTANT - IMPORTANT -
Warning and Legal Notice: The document contains a warning to respondents about the consequences of not participating in the court proceedings, indicating that failure to appear can lead to barring further claims against the applicants.
Based on the document, the hearing date for objections to the protection orders would be April 24, 2024, from 10:00 AM to 12:00 PM at the Calgary Courts Center, 601 – 5th Street SW, Calgary AB. The document specifies that this hearing will be conducted via Webex.
To object to the protection orders outlined in the document, we would need to attend this hearing WE MUST
My lowest purchase was at 4.19p on 30/10/2020, GGG also purchased I think at the same time, indeed I remember arguing with him that I thought 6p was good but he wasn't buying that high at the time, lol. Nothing stopped anyone buying at these lows indeed I can see 6 trades in my i3 spreadsheet all under 5p and all on 6 separate days. I like the Dividend, indeed if I didn't have it I might even go elsewhere, thus I don't see how it stifles growth indeed it attracts investment.
What is it with the Canadians that they always, it seems want to pull the price down, you would have thought the deal was anything but excellent.
Also someone mentioned yesterday the fact that although the royalty assets brought in $3.6 million we paid approx. half that every year in interest on the loan which we now no longer have, so in effect we sold for $25 million, assets of a net worth to i3 of $1.8m
Interesting these assets were not all oil they were in the same ratio as the business in general so quite gassy, 50% gas, 16% oil and the rest condensate and NGL's - what a brilliant deal when he highlights the fact that in 2020 they paid $26m to acquire 9000 barrels from gain energy and they have just sold 388 barrels for $25m - its just astonishing.
Siggins, you'll drive yourself mad, I'm not short, I'm not mangrove and only started posting here to highlight some of the risks, technical and fundamental to highlight what its like, when you get someone uninvested taking time out to highlight those points that the are not uber bullish.
I have not scurried away I have out of respect for Tony, a poster who's views I value, have decided to refrain from posting here, that and the fact that I am not as childish or as nasty as OlderWiser that likes to rub shareholders noses in it when a share price is dropping.
Facts are thought there are risks here, but I'll let the shareholders discuss these if they wish to. Hope that puts your mind at rest.
Can I suggest that as everyone seems to have spent an inordinate amount of time trying to ask Older and Scot to refrain from commenting here, to then call them for comment is just nuts, I would suggest don't do it.
Tony, for my respect to and your views and understanding your concern, I shall cease my input on this board, .....unless of course Scot and olderwiser that have absolutely no financial interest in 88e continue their attack there.
It must be highlighted that olderwiser and scot have made statement that they have no investment in 88e and yet they continue to go onto that board to spread fear, uncertainty and doubt. I suspect they have shorts, specifically olderwiser who is unable to explain why he has placed almost 300 posts on 88e, all negative, all in the last 30 days, mainly all repetitive about 4 barrels collected oil when he knows fully the campaign was not a competition to collect oil but one of flow rates.
He and scot have been asked multiple (probably in the hundred plus) times to stop, there is no need to continually, ad infinitum it seems to repeat the same again and again. yet the pathetic excuse they use for the inordinate amount of time spent on 88e is to help protect shareholders, something that has rightly been pointed out that Older had no concern to warn shareholders here when they were pumping in cash at 130p etc.
So I shall stop my input here, however I do reserve the right to go to extraordinary lengths of research to highlight every conceivable risk both fundamental and technical and ensure that is known everywhere if their attacks continues.
No I have not ignored their commentary, I've heard it but just because they say it does not make it fact, they had 2 potential funders they now have one, their auditor has highlighted the material uncertainly risk, but no one here has. The mkt cap shows itself to be massively overvalued against other dividend paying companies, in easier to drill locations with proven reserves and production, but no one here has. The technical charts show a decline, but no discussion here, in fact everything here is uber positive, yet risks exist, I'm just creating balance.
I'm not sowing seeds of doubt, I am opening the eyes here, creating balance to the risks which few wish to talk about, indeed some shareholders here spend 10 times the effort putting down other companies and explaining the risks to other companies shareholders than they do on their own stock.
Perhaps these shareholders should be more open to the risks here, such as was asked of one of your most prolific posters recently, why he was not warning the shareholders here with such fervour when they were pumping the stock in august 2022 at above 120p, how did that turn out for those now bag holding at 31.7p and dropping.
Correct Dr. too many people concentrating on fantasy billions of barrels that without huge investment will stay exactly where it has for the last millions of years. Funding is difficult in the Oil and gas sector now, Pantheon has already lost one potential partner and the auditor had to make comment as regards a material uncertainty for Pantheon to continue as a going concern without funding.
All over the world the funders can take their pick in less risky oil where drilling can be performed all year round without potential supply chain issues, where oil is coming out of the ground now and dividends being paid to shareholders. I know of companies that provide 9% dividends, debt free, 20,000 boepd and less than half the MKT cap of here, PANR is massively overvalued, they have only loss making hope for funding. Mangrove knows this and the SP will soon reflect that reality that no one here likes to talk about, just dreams..
If as I suspect Patheon are struggling for funding the only recourse open to them will be equity and it will be a lot, hugely dilutive and even then if they get it nothing will come back to the shareholders for years. None of these potential issues are ever raised here it always look at the oil, well I say look at the risk, its off the scale.
"Sadly the market has not reacted in a positive way so far."
its just placing the groundwork, everyone knows there will be a raise at some point, it is only this holding back the price, the next raise may be the first one where on completion the price goes up, lets see.
"Please button it for the sake of the very significant and mainly silent majority"
I assume you asked Older and Scot to do the same, whilst they spent every waking hour, day and night spreading FUD on the 88e board and ramping Panr. hmm yeah thought not.
Anyway, ignoring that, as this is obviously not the reason I am here. I am here only to bring balance, to highlight the facts nothing more as we don't want anyone ramping the company without showing the technical and fundamental risks, that would be disingenuous.