Member Info for Teacup64

IK - You specifically chose this quarters announcement to make such a post, rather than any other, using the knowledge of reduction in production, whilst omitting the cause of the reduction, and then attempted to use that scenario to undermine how much LK has increased production by.

Weaponising facts is a very apt description for your attempted deception....laugh all you want....I'm sure the numbers laughing won't exceed three users of this board ;)

Pepco - I was thinking that Ronnycats 12:16 response to Kewben should be awarded 'Post of the day'.....but I think you've just swiped that ;)

LLL - Yes, I do remember the posts you made. Although I believe you are taking my conversation with IK out of context.

It's all good saying facts regarding the weather conditions, but IK isn't. She is weaponising the exact same fact, in knowledge of the impact it had, whilst omitting the cause....that smells of attempted deception.

You on the other hand, although it was posted at a sensitive time in my own opinion due to mostly illegitimate scaremongering deramps from every other angle from other posters, you posted a legitimate fact that speculated on a reduced production quarter.....that's massively different to what IK is attempting.

To be fair, we shouldn't need AP saying it for people to realise. People just need to open their eyes and have the ability to count, to figure that the maths says otherwise ;)

Peter - Agreed. If average production was now at 1000bopd, then I think it would be wise of LK to do so. It would settle the nerves of some, force the change of tactics of others, and give the market the boost it needs to get us off this floor.

IK - Yes, I can see how you attempted to achieve the deception, as can everyone else. Conveniently, you selectively chose the quarter that had been impacted by floods....why didn't such a statement get made in the previous quarter, or any other....or as everyone else interprets your post, were you simply trying to take advantage of the small crisis that this quarter presented you with in order to further try and undermine the confidence in LK, where it's not due?

...I appear to have killed the conversation. Perhaps people would prefer me to call it a death spiral instead ;)

Considering that you are talking about a whole year and a half, you sure appear very selective in the quarter you choose to compare it against. Coincidentally, the quarter you mention just so happens to be a quarter that was impacted by floods. ....but nice try IK.....so transparent! ;)

Dilution and depletion of limited cash, it just gets worse. How are they going to pay for redrilling if they need to keep the lights on? .....I smell another placing, we should hope that the least the board can do is offer us the shares at such discount as they have to CB!

Bear - How is the Bergen deal a death spiral?!? ........a placing equaling the T1B loan could instantly stop any spiral effect. Further, a death spiral implies that there isn't a realistic way for a company to repay the debt off...but Vast can if necessary.

2Pence - Technically speaking, convertibles are not shares until converted. If AP can give assurances for T2B authority, that after repurchasing the T2B convertibles from Bergen, that he will not convert them himself, thus avoiding its equivalent dilution, then authorisation for headroom only, doesn't necessarily mean that conversion has to follow....more of a case of creating headroom only as security for Bergen, for the purpose of buying an extra 30 days for a fee.

If that were to be the case, would shareholders accept that, or prefer a placing to pay for the temporary delay of T2M. Referring back to an earlier post, which majority is actually going to vote? ....Many may feel passionate about rejecting authorisation, but most of them won't actually vote on it.

Just my opinion.

Sarah - Although my brother holds at around 0.18, I don't hold any myself. I have been watching over here for the last 6m or so, but will only enter on diamonds or a Zagra JV with a major.

If all works out, I think Vast has huge potential.

Mizman - Which shareholder will block access to a potential lifeline?

Furthermore, the vast majority of shares held are in the hands of retail investors, who will mostly not vote, either because of lack of know how, lack of awareness, or lack of actually being bothered. Given this, a large number of resolutions are passed by default.

However, the Companies Act 2006 defines a nominated broker as the 'member' who is listed on the company register. Under the same act, it states that members, unless an action is explicitly requested by the beneficiary, have the right to vote on the beneficiaries behalf....unless of course, a member has no interest in a particular vote, that the broker willingly sends the beneficiary the voting form instead.

I think everyone, whether reluctantly or not, will accept that T2B authorisation will be permitted....if that is indeed the outcome.

Sarah - "Go up on a drip of oil"....CERP has so far under new management, have achieved near 200% increase in production by improving already producing wells, without the need for drilling. CERP has done nothing but fall in price ;) But with some exceptions, I mostly agree, most do go up on trivial issues....I think it was Diurnal Group that rose some 260% in a matter of hours as a result of converting convertibles.....I didn't read into the circumstances too deeply, but appears to be a clear example of what you mean.

Pepco - that's what I thought... Plan A: Mercuria actually played ball. Plan B: Buying of time by extending the 30 to 60. Plan C: Placing or external funding. Personally, I don't think plan C will ever take place.

Sarah - Drill results, acquisitions etc, May cause some short term excitement, but without production of assets progressing, cash burns away. Big news on diamonds with near immediate production, or news of BP producing within 6months, are the only real catalysts to rebuild confidence due to cash being generated in the near future. Just my opinion.

Just a personal opinion of the Bergen Loan.... I have never seen the agreement with Bergen as a death spiral, in fact, quite the opposite. I see that the need for such a facility was out of desperation based on circumstances that were present at that point in time, due to the Mercuria delay. I think we can all accept that it was required financing on the quick. However, I interpret the terms of the agreement more of an agreement with design, based purely around Vasts current needs, on the basis that AP can't confirm, but already knows, that T2M is on its way. Providing the company has enough temporary free cash to last them the next 5wks, then there is no reason that AP can't avoid the conversion of T1B, at the price of a fee, by requesting T2B to repay T1B, therefore refreshing Bergens '30 day' conversion clause. This method effectively allows 60 days to be bought without the worry of Bergen exercising their 30 day right to convert. And providing T2M arrives within that timeframe that AP anticipates, then T2B conversion would also be avoided. Further, the generation of cash from T2M would sonewhat rectify the short term issues that arose from the need of Bergen.

FAHP - Snowboarding....at least you'll be used to the declines ;) .....that was only playing about mind. But nice one, sounds like fun....unless your off to Austria snowboarding that is.

Ross, quick question....of those 5894 posts of yours, how many are attributable to CERP? .....and many more do you anticipate posting before deciding to make your entry?

....I think someone needs Velcro and a taxi home!