Member Info for takeachance1

I am a LTH since 2010. Trust me, i would not even dream of selling at this price or anywhere near it. The company is worth multiple of £’s if not £10+. There may be some s********* but its true. Assets, SD, own refinery, current Output and the list goes on.... Sooner or later when the new bod are in place and settled, it won’t surprise me in the least if they came out with similar discrepancies to what Kononov has been accused off carried out by the current bod. I sincerely hope that is the case considering the current bods lack of positive spin on the company. Seriously, how can a company turning over £20m+ be valued at ONLY £3m. A Joke, although im not laughing.

If the current bod had investment in the company then they wouldn’t be issuing such ridiculous rns’s.

The BOD are so incompetent, for shareholders to have any faith younwould expect they would in their capacity do anything to drive the sp up, not try and pull it down. With the silly rns today, even the sceptics would side with Kononov.

Looking at Kononov’s stake its a given that the current BOD will lose control. Their only saving grace to spite Kononov is to try and get a buyer for the company before the egm for a price the remaining shareholders can’t refuse, subject to Kononov not already accrued more than 50%.

Back on the up tomorrow if not today.

and no movement. If that was a sell then the MMs would have moved it, down!

Well maybe someone is/wants accumulate.

Im still optimistic that kononev will play ball or if it comes down to it, Adler to bail us out. Fingers crossed and good luck to all the brave remainers.

From 15th Oct rns.....”The Board believes that the making of the Loan, and the amounts outstanding from the purchase and subsequent disposal of the Additional Shares (on the deferred payment terms) has led to a combined current working capital deficit of approximately US$1.6 million. In addition, the Group has made working capital advances to the Kholmsk Port totalling approximately 100 million Russian Roubles (approximately US$ 1.5 million at current exchange rates)”. They have already made $1.6m advance working capital payment to kholmsk port so I guess they need more (working) capital for south dagi and ongoing day to day business at Pet and Art.

One shipment alone is treble the mkt cap and double the net proceeds. Beyond belief how the temporary loss of $1.5m could have such a big detrimental impact. Infact if yoh take out the proposed divi paymnet then only lookinv at $0.8m. Something really wrong here.

We should hopefully get another rns this week with a further update which might make things more clearer, we hope!............. “Meetings between the Company's legal advisers and Mr Kononov to discuss these matters took place on 12 October 2018 and there will be further meetings in the coming days”.

Any thoughts?....the company has stated that the second shipment amount (approx 158k barrels) will be in October. I wonder if they will also include the 225bopd from the south dagi Well 7 and any other outputs from the other Wells that are currently being drilled with the shipment in October. If they do then we should see export in excess of 158k. If not i wonder why not?

I see only one trade of 42.5k here on lse, traded 12:25 on 24/07/2018 for 88p showing as a buy. When was the other one?

I understand what you are getting across but regardless of the geographical risk its not going to stop countries buying oil.

Having said that, it is ludicrous that the cash we currently have is approximately 50% of the mkt cap!

We can blame the mms all day long but the reality is that the board should never have done a 20:1 consolation. When they wanted to, they should have done a 5:1 or the most 10:1 consolidation. Below 99p a share sounds cheap but as soon as it hits a £1 peeps find it expensive to purchase, especially when the mkt cap is only in the region of £12m. All imvho.

is tight. Not seen that in years!

Tommy, its stated in the final results rns posted on the 29th June 2018.

Beyond belief the mkt cap is below the company’s turnover snd mkt cap is approx 20% of the value if the company’s assets. Ludicrous!

Krull, £2.50 a share??!!.. the output this year is likely to be just over 300k barrels ($24m), and that is because of workovers. If they maintain 2000bopd (minimum) thats approx $60m ($80 per barrel). So £2.50 a share is an extremely low calc (imho). The assets alone is worth in the region of £5-£6 per share, not even taking the potential from dagi into consideration. This could end up in double figures, or maybe multiple of the double figures. Folks, this is all imvho, dyor and your own calcs. Rest assured your calcs will dwarf the £2.50 per share.