Member Info for Strongman

Inner-Harmony

Good morning as well. If you are here to discuss, then can you comment on my explanation earlier. You seem to have ignored it completely in your reply.

So in a condensed format - If the company wanted to create any new shares today, what will their face value be.

Inner-Harmony

I believe you already know the answer, but if you must:

The company wants authority to issue brand new shares. Share not in current circulation, but ones it must create new. Now all the 177,929,038. shares in issue of the company today are ALL 5p shares. The articles of memorandum state any new shares are to be issued with a nominal value (5p). So armed with that very basic information, if the company are to issue and create brand new shares, what would their face value be? Do you think, oh lets create 10p new shares, or create 1p new shares instead of what all the other existing shares are created at. No they have set down the nominal value of the company shares in the IPO and pre-listing documents, also in the company formation AoA, and guess what, it is 5p face value shares (called nominal value).

It is very simple for most of us to understand, but you seem to be struggling a little. If a investor does not know the difference between issue price of new shares created (nominal price) and market value price, then simply google it. There is a enormous amount of information out there to help.

He is just a pure 2 hour trader, that is all. This was confirmed the other day when marineville boasted on here how he got shares at 6.40 and then sold them for 6.50 for profit. Of course that back fired when he had to buy them back at 7.00 a few hours later. Not the most hooked up trader I may add.

Any new shares the company issue will always be 5p nominal shares, that is the basic value of them as per articles of memorandum of the company. It is not the issue price of course to any second party. The shares Sandabel received this week twice for CLN were all new 5p nominal value shares, but of course were issued at 6.31 and 6.30. Nominal value of a share and market value of a share are two different values. I am pretty sure marineville knows this already, but the scurry of posts to shout ''end is nigh'' is comical really.

We all wanted no more CLN's, that is exactly what the company will now make sure we never do go down Sandabel type of facility again.

We are fully funded for this well, not only as we have recently uplifted a extra £1m only a week ago to make sure the company is comfortably funded at this important time. SMP are on a substantially reduced day rate since re-start of drilling a week ago, that will also have a major effect.

The company are looking ahead of this well result already. This is prudent as the board are not forward planing December only. It needs to work out the best way forward after this well for a new drill plan. I hope that this well is very successful and on the back of that success, we get SMP to start another hole immediately after. This will require funds, which we all hope will be placed at 20+ once drill results from this well are known. There is clear evidence that the board do not want to get this through the back door. They have set the GM vote to come after R1/2 and Mengo results are known to shareholders. If it was set for next week, before R1 results, then some could have had a issue, but it is not, its set for almost two and a half weeks away from today. R1/2 will hit this week and four days later Mengo will hit. Then the vote.

Very happy to be in this share at this point in its progression. If anyone does not understand nominal value of a share, google it, plenty of information out there.

Indeed he has, and it has been a hard lesson, that has been felt by every shareholder in the company. I have no issue in any higher placing after the well is completed and flowed. He has timed this to make sure shareholders know the results of R1 and Mengo before voting, which is only fair to shareholders.

In the future, I hope he looks at a open offer to existing shareholders alongside any placing of shares to institutions etc. Because if the right results come from this well, you will see a few funds/instis start knocking on the door for a position.

Just to avoid confusion:

''One such option is to issue new ordinary shares of 5p each in the capital of the Company ("Ordinary Shares") or options convertible into such Ordinary Shares.''

The shares in the company are 5p each ''nominal'' value. This is not what they will be issued for of course, examples below:

Issues of ordinary shares

On 6 March 2017, the Company issued 51,410,578 ordinary shares of 5p each at a premium of 15p per share.

On 3 August 2017, the Company issued 16,354,015 ordinary shares of 5p each at a premium of 24p per share.

Prudent option to vote through imo.

1 - There is no certainty that the directors will use this authority and there is no intention currently to do so

2 - The GM will be held at the offices of finnCap at 60 New Broad Street, London EC2M 1JJ on 17 December 2018 at 11 a.m.

I highlight number 2, because it means results of R1/2 and Mengo will already be known before the meeting. Advantage to shareholders.

Closed at 7.40 mid, that is the highest close since November the 16th. Third day of blue, and the uptrend is here imo. Next week should be a blast.

Not so sure if that was a sell. Live at the time was 7.32 v 7.40

Nice bit of closing action for end of November and fresh start to December for AAOG next week.

If its a similar process to a few oilers I have been involved with over the years. It is usually a simple process of showing the data and analysis via email/fax to the relevant department. Then a simple thank you and release is obtained. Maybe on this first well, they may come on site to review personally, but more or less same day. The government here are supportive, experienced and willing, they will do their bit on time imo.

In sections though JoeCreed, so process is a bit longer in the day, when they stop drilling and push in pipe and probably case. Company estimate is Friday, but overly conservative imo, I can see a catch the market out RNS at some point next week.

''We are currently drilling ahead at approx 10M/hr including connections (on auto-drill) and as you will be aware this is a 24/7 operation. As we go through different sections drilling rate can decrease/increase depending on formation.''

James.

Now do not get overexcited, he explained to me they drill in sections, so drill, feed pipe etc. case and re-start again. He told me all is well and they are drilling with no issues and as planned.

Personally I expect them to be into the R zones pretty sharpish as they are on a 24/7 operation here. Looks like we have had a productive first week folks.

Now it is gaining traction...........

Not seen them around for a while, looks like they sold while ramping it to innocent folks. That is AIM for you, always DYOR and take both sides of the opinion into account. They brushed my posts to one side as a attempt for cheaper entry, cheap shot really. I corrected most of their misinformation last night, as a few others did, only to be scolded and vilified.

JBER and WIN's fighting over high bid position for once. One of them needs shares, well both perhaps. Its heating up.

Well WIN's got a few on that shake, so fair play to them. Looks like its over with though now.

marineville

Never seen a holder slam their own share so much in public as you have. Not sure about the long and well used story that you keep telling people here, ''was in IPO'' etc. You are clearly a trader, that is confirmed the other day when you said you purchased at 6.40 and sold at 6.50 for a profit of a tenner (as you put it). Good luck with your trading strategy, but be up front with what you are doing here. You look to have sold yesterday and re-enter again today, well I certainly hope its profitable for you.

As for others valuation, they have a right to say where they see this as much as the next man, that is why we debate and opinion here on these boards. You may well be gone at 10-12, but you speak for no one else on what happens here after 15. I will have some position for Dengo myself, hopefully de-risked, but I will not be looking to scurry away at 15 while Dengo is still to come. The price point is not the issue here. If that zone comes up with oil, then its game on here for a huge rise, if it does not, then its hedged if both the first two come in anyway. It is like a free shot at the jackpot.

''i doubt there'll be any recognisable names on the bb anymore as we'll have all sold out... ''

Still have a giggle at that one line you posted, who is ''we'll''.............

Dear Bloggsy, if you stood by all day and let pass the blatant misinformation spread to employ this pump and dump today, then you unfortunate have no morals to start with. You instead attack a poster who is willing to share factual base information and correction, to which you are up in arms and running around having a major girly hissy fit.

You take care bloggsy, as when some poor souls find out you have been part of the pump and dump here today and got them spiked, they may not be as kind as me. It will further implode when they see you attacking a poster who is simply revealing the blatant pump here, by correcting misinformation.

Have a good evening though, You are on filter henceforth. Not the type of shareholder I like to engage with on debate.

LOL whatever makes you sleep better at night dear bloggsy.

Good evening.

Bloggsy, what ever are you on about. I have just corrected spike912 misinformation for the second time, via information the company has given to all shareholders via RNS. Can you explain any of the information I have just given to be incorrect or nonfactual.

I had a large holding here indeed, which I sold and took sensible profits, when I found California state was starting to drag its feet a few months ago. That decision to sell, is nothing about me being on here today looking for any entry etc. If I wanted back in, I would first have to persuade myself that the California is not important to Webis, but I am unable to do that.

You are coming across harsh, considering all I have done is correct some information being touted on here as the reason for a large rise. I have referred back to company issued RNS's to give evidence of that fact. You as a holder have not pulled spike912 on his misinformation on cash balances, why is that?

It is ok to ramp a share, but to sit idly by while someone misinforms in every other post, where some could be lured in to join on the misinformation is not right. But as you are not doing the right thing, I have no issue in telling the board the correction, whether you like it or not.

I have no funds here, so will not waste time measuring manhood with you. Before I go though, shareholder or not, you should really be sensible here and make sure information shared is at least factual.