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The BOD have listened to its shareholders and addressed the key asks on this posting board of late as far as I can gather..
'The costs of the recompletion were paid from existing cash reserves. The current cash position is c AUD 1 million.
Production numbers for the six months ending 31 December should be available in the next month, once all information has been received. Mosman is awaiting results from recent drilling and other workovers. This information will be published when it is available.'
My particular concern regarding Cash position has been addressed.
Current Cash Position is over £500,000 , $720,000 USD. That is still healthy enough, increased choke size at Falcon producing 23% more, with plans to carefully and steadily increase that short term, to help build up short term cash position, better than Tapping US shareholders! Still have further announcements on Winters-2 and Stanley-5 (increased choke size) still to come.
BOD listening and being reactive to concerns of share holders good to see.
GLA
Gas and oil price’s rocketing, perhaps some of the anger here should be directed towards the MMS it is quite shocking the decrease in share price in the last couple of months when we have been producing more, a distressed and public seller I get but that should have been cleared by now, we are as some have commented that we believe we are well oversold, enough already the share price is a disgrace , about time some posters were commenting on the obvious manipulation here , total disgrace imo, I just hope they raise as quick as they have taken it down!
Gla
Ps winters-2 update with better news would be good timing bod!
I think that is a good question, there must be a couple of options to consider for future funding if required.
1. We placed for £1.5 Million last year in May/June, for the last Qtr we were producing as given in RNS 110 boepd, the question which I want answered before the BOD meeting is the current cash position, (I know we have contributed to drill costs for Stanley-5 and Winters-2, and there will be re-completion costs to include also , we bought NadsoilCo (Though as explained at the time that was from warrant exercises to fund that!), we have spent money on survey costs in Oz, but in my head that is no where near £1.5 million, which with additional revenue being generated from greater share of Stanleys and Falcon-1 (spent a small amount of increasing percentage share there from baja). Other costs salaries etc could be for the last 6 months $100,000, and we are told very nimble management and operational costs.
So in my head if we have a burn rate it should not be enough to take the whole £1.5 Million in the last six months, so I think the bod should allay the obvious fears of some, which have been continually stated many times on this board.
2. The future warrants (I believe will be done also to 100:1 for consolidation) is a potential source of funding and is planned , communicated and known to future investors, So if they can improve and grow quickly getting better results in Stanley-5 and Winters-2 initially then great, there is a source of Funding and the share price increases to a level where they can be executed!
3. Future Bank / Credit Facility, Get us to Corporate Profitability and then that becomes a funding option for the future, don't need to continually tap loyal shareholders that have backed them through thick and thin for years, show some payback for the loyalty and trust and in the process you attain more credence for the BOD.
Well my thoughts anyway.
GLA
Read the Angus RNS there, basically acknowledging their respective value in the market is not reflective of the company position and how well they are doing, common theme in AIM currently unfortunately , and because they are valued so cheap they have been approached by other companies wanting to buy them.
I don't want that to happen here ! not just yet to us, we will get bought over cheaply and shareholders will be sold down the river, seen it before on AIM.
We need the current BOD to improve the situation and the share price, before any mention of that!
They can better in the short term with improvements in Stanley-5 and Winters-2, and then progress Oz.
Share consolidation will allow better movement of the share price when positive RNS's are released and it is encouraging Monecor have been buying more, they still have faith in the BOD, if anyone had not noticed we have been in a Pandemic the last two years , for Mosman two years ago it was about survival, simples, last year they had put out an ambitious statement and drill predictions, that has come back to bite them mainly down to on-going Covid conditions , but still progressed with Acquisition of Nadsoilco and a couple of drills that needed re-completion, Once we are through the Omicron Phase and people move to living with the virus as being endemic, then business, growth etc will improve drastically and all indicators are for that to begin to happen this year.
I am backing the board for the coming year as I have stated and hope for us to prosper accordingly.
The Selling will STOP and this will re-correct itself in short order, my opinion only obviously.
GLA
RNS TR-1 Monecor are buying , as I have stated recently under 0.15p as they done before, they are not selling!
I don't know how Afzal selling up works, in my head he declared he no holding about a month ago, however did that just mean it was a technical no hold in that he gave over his shares to the MM's books for them to draw down and sell them into the open market at such time they have brought the share price down and sold his shares accordingly, in the mean time Monecor seem to have hovered them up and some other fortunate souls who bought in (I too have been buying in, small amounts but the best price I got was 0.0681p! to help average me done!).
I would hope we see some strong move upwards now that the TR-1's are clarifying what is happening.
GLA
Already posted my position just look back on my history.
Looks like the MM's are beginning to walk this back up on low volume, why we went down to 0.6-0.7 no idea apart from the obvious of finally clearing their books of Afzal's shares. I do not believe it is Monecor selling at all at those levels , why would they at such a loss considering they had them at 0.15p and we know there is evidence of them buying below 0.15p , just review their TR-1 RNS and you will see one where they increased their share.
GLA
Giving the bod and my investment 5 years, started in 2017, so will go with it, though for me this is the year I need to see ROI and expect results and recognition of loyalty and sticking with them.
It starts with winters - 2 recompletion numbers and Stanley-5 improved.
A clear statement on cash position would be appreciated and might make the consolidation more palatable for some here to allay concerns.
Gla and happy new year all
Note a lot of new posters putting their view on how bad consolidation is, with the obvious they are only doing it to rinse and repeat and Use it to be able to place again . These for the most part are normal AIM company suspicions and from my first post after consolidation rns knew it was coming.
I am not naive but will counter balance with the following.
1 On this board recently as steakpie pointed out there was a lot of discontentment that the shear number of shares , and the off loading of held placement shares was making it difficult on positive news to gain any traction or momentum of upward share price movement .
2. We need to understand the motivation of the bod behind this as placements are done because of the need to raise whilst the company is in a poor financial position , That is why we urgently need clarity of the current cash position of the company to allay that short term fear.
3. Future warrant , if you look at mosman main website you will find all the future exercisable warrants the numbers are eye watering so say Oz kicks off big time with epa155 progressing to a drill with Jv partner and progress on ep145. , the share price rockets only for the warrants to be exercised and stick the share price back into the treacle of movement due to the number of shares in issue being above 5-6 billions share, how many will be moaning then and berating the bod for not having done anything about it!
4. Consolidation does not change the need for Stanley-5 to improve its numbers and Winter-2 to be re completed and give us the numbers we were anticipating initially, This needs to happen before consolidation to provide confidence on where we are going.
As I said yesterday all to play for and I still think the
Quite right Londoner7 I put my hands Up I misread the cash position on page 42 as the end of this calendar year of course it is the end of June as that is what the accounts represent .
The cash position is last mentioned in the RNS on July 2nd , figures as you have stated after paying for Nadsoilco acquisition $900,000 with $200,000 to pay over next two years. I would hope with the increased share in Stanley via nadsoilco acquisition and with falcon continuing to produce strongly and now Stanley-5 added plus winters 2 recompletion numbers to come I would hope we are close still to that cash position, but we do need clarity as to the current cash position, the other point I would make is that if you look at the warrants position down the road you would see billions more shares would spill onto the market in future if we start to do really well perhaps they had an eye on that in the future, also reviewing warrants noticed the directors options are about to expire can’t see them taking them now. All to play for still and hope we get better news flow soon .
Gla and still strong buy at these prices imo
Financial report on mosman website a full 70 pages worth , if I read right current cash position on page 42 at bottom of page and equivalents at end of 2021 is $2.3 million dollars , that is close to last reported cash position via rns so it seems we are covering costs and investing in growth at same time , this share price is a complete joke imho,
Gla
Consolidation of shares 100-1 but each shareholder will keep their current percentage share and monetary value so if you have 100 shares at 1 p say worth £1 after consolidation you will have 1 share at £1 , so less shares in circulation but same holding and value to shareholders. Just want to make that clear before all the scare mongers hit!
Read through the financials and agree with last qtr and moving forward now looking strong, remember it is easy to criticise a bod s past but it is where we are going from current to future which is more important now!
Gla
I take my truth from the RNS’s rightly or wrongly ,
Unlike yourself I have been buying for years with my very own strategy which again could be foolhardy to most! Rather than observe and comment from the sidelines, you would have noticed I don’t post as much these days but where I feel I need to I will just to put my view across where I feel strong enough which like your posts people can take or leave. I make no excuse that I always try and see the positives and you know if the guys actually had a bit of luck on their side we could be looking at a very different share price, I believe fortunes can change here and that is very achievable still for great things here hence no doubt you follow the story , quite frankly I could say the same for you where you never seem to mark down derampers but focus on people who promote the share and the possibilities for your focus, as you and I know in Aim things can change very quickly .
Awe Ra best and keep following the story look forward to your comments when things change for the better here.
Sweaty
Just look at the range of gas prices over the last year from 3..6 range historically was as low as 1.5-2 .
You can check that yourself
Gla
Interesting London74 spending so much of your time posting on impending DOOM, trying to antagonize long term holders.
Are you working for the MM's?
Have you looked back on last communicated Bank Position circa $2 Million dollars, Increased Production and revenue from acquisition of NadsoilCo funded by Warrant Income through the Year, We know Falcon has been producing steadily with High Gas Prices, and now we have added another 22 bopd from Stanley-5 with rework on Winters-2 happening currently and they are looking to increase choke size on Stanley-5 to produce more. The share price is rock bottom, time of year , worries about Omicron, we have had a distressed Seller, You know this will bounce strong sincerely hope you miss it because your constant taunting which in my opinion is a disgrace.
GLA
LOL some traders someone bought circa 5K worth at 8 o'clock and by 8:10 had sold them all again at a £350 loss.
I know there is short term traders but if they cannot stay in a share for more than 10 minutes and happy to lose 350 pounds, totally baffling to me!
This is a positive RNS and we are producing more, and hopefully soon it will be further announced even more, IF people don't want to invest or trade for whatever reason that is their choice, but once as still clear there is a seller there is finally cleared this will motor!
GLA
RNS states ..
'At Stanley-5, the well has been recompleted in a Yegua zone at a depth of 4,528-4,530 feet. The initial flow rate is equivalent to 60 bpd, limited by a 8/64 choke. The flow is almost all oil with some minor water. The well is not yet optimised, and the choke size may be changed in an endeavour to improve the production flow rate. Further information will be provided once a steady production flow rate is fully established.'
Minor water, they have been honest with the wells when they have encountered large water in Stanley and Winters, I hope that in the coming days more oil flows and the rate can be improved, quick return on investment and into profit at current rates, So a vast improvement to the last doom and gloom announcement pounced upon by many derampers here, where are they now? Winters-2 next , get that recompleted this side of Christmas, with Georgina Energy IPO in Jan, it is beginning to look like a Mosman Christmas and a more prosperous Mosman New Year may at last be upon us, always hopeful , always positive.
GLA
A lot of volume trading yesterday, should surely have allowed the MM's to clear their books with Afzal's lot.
Quieter today by far, dust settling and minds hopefully, was just a delay! We should get some news soon, AGM should be announced and happen before the end of the year, you would think they would not want to go into that on a sour note, so fingers crossed for better news to come on Winters-2 and Stanley-5, looks close to moving up also, perhaps the bargain buckets were for yesterday! One day ONLY!
GLA
Winters-2 being done now, so that should be concluded ASAP. Once done recomplete Stanley-5, yes a delay but not for long and multiple Pay Zones, so no major drama, seems the MM's using any excuse to drop the share price, load up whilst you can, below 0.1 to but is a complete steal in my opinion.
GLA
Getting yourself confused that was for kitekat not tk44 are you now declaring yourself as a multiple id , you know that breaks the rules.
Admin I think you need to check those ids ip addresses.