Member Info for stockdale

Any connection to SML at all?

An RNS is only part of what is needed. An RNS now would imply the £4 million had been paid or arrangements made to pay it. The main client seems to have issues which have severely delayed that. JP is excellent in giving update podcasts where he provides confidence to the market. How is LC progressing? How is Redmoor coming along? Any update on Hans Camp? Any update on ongoing discussions with Cobre?

Seems many here are in agreement. There are some who don't want any info from the BoD unless it's worthy of an RNS. That is a recipe for a declining SP. And that has happened.

Thanks bradis. You to. Obviously the sensible ones got out a long time ago.

Agree Fira. Too long without anything from the Bod. Even a pep talk would help. Or are things really so bad that nothing good can be said?

Not just unhelpful to advise selling. If it happened the SP would suffer and holders who suggest selling would have their holding suffer. So not sensible for them to advise selling.

I think most of us are going blue already.

And for that reason some will sell. Some don't like the feeling of investing in a company when their information has been limited.

Some invest in AIM for the longer term but many are just short termers. With one drill in February 2020 that's too long a term for many. They get out and move to a share with a shorter term profit forecast. The item is very laid back in it's attitude to 88E and DW. It will not cut much ice with the hard liners here.

AIM works on confidence and sentiment. Both are poor right now. MMs can then manipulate the price as they will get sells back to them even at this low price.

So you do care about his dealing. Dealing costs are part of dealing.

DG you say you don't care and then you ask him about his dealing costs? Either you care or you don't.

AST has no debt so I can't see it going bust. The only problem is whether it can make money to make a profit and not just to 'keep the lights on'. We're waiting for JB to either get the politics sorted to get the needed stimulation permits or to use his oil and gas knowledge to maximise the gas without permits or both.

With the SP currently at 0.2p any positive move could easily double the SP and more.

I think you are correct earning. It doesn't change the position. Only that JP is giving them time to sort out their situation. They've had three months. SML is suffering to the tune of about 1p per share. That's about £14 million off of the company valuation. Something needs to happen.

Indeed you should Monarch. That has nothing to do with 88E, or my point.

They have used optimistic language. 'De-risking' is an optimistic way of describing a well drill which wasn't successful for the market and the SP. It's just saying they've drilled and now know what's there.

And the Cobre main client know all of that and are playing on it to the full.

It was a dig at another share Monarch. Does seem to have a CEO with similar promises and optimistic language though.

As others have said I believe they are playing on the difficulty of SML taking legal action in time and cost. They know JP is reluctant to do so and would prefer the quicker option of persuading the client to pay up. The persuasion isn't working.

Not starting a shareholder revolt here then Monarch?