Member Info for testpack3

I plucked my figures from thin so you say. I told you yesterday, and all those years ago, I used data from the USA price of gas in ground - google it, and do your own research. Also, who is closr to the price/scuf - my 36p or JP's £1.75. I'll give you a small clue - look at our sp. And for other posters who wonder why I post negatively about JP, I'll be happy with 50p a share, which, with a decent te10 should be achievable. Not £2.50 you numpties. Also soundingoff, , you stated that the private vehicle market does not account for the 60% of oil used in transport. Very true, iyts about half of it. Now I suggest you do some research on the other markets. There are 100's of towns and cities worldwide who have some HCF buses, refuse collectors in use now. There are a wide variety of electric motors being manufactured for use in buses, HGV, trains, ships, and, if u r abreast of the news ( unlike the dinosaur crude), you will have seen that in Scandinavia, over the next few years, all internal flights will be on electric powered aircraft. Posters saying the revolution is 50 yrs away, are clearly idiots.
An important point also, is the damage to our health by particulates, CO2, CO, NO, NO2 on our streets. Both Japan and China are leading the way in the conversion of vehicles, all vehicle types to zero emission vehicles. Of course, Methane will continue to be an important gas since H2 can be produced by steam reforming, although, as previously stated, there is current research on much more effective and cost beneficial production of H2 - the fuel of the present and future.

Have been invested here several years and over the past week have sold my holdings, although I cannot fault the products, and will look elsewhere for HFC opportunities..
The first elephant is the substantial shareholding of Fahaz Nahab - over 92%. As I will explain a little later, Inst. Inv. is not going to happen with this domination. IIs would normally only invest in companies when BOD and interested party holdings are below 55%. The reason for this is that most BOD proposals at AGM's require 60% vote to pass.
The second elephant is the debt. The Consol. Bal. Sheet shows Borrowings of £52M, and Embedded Derivatives on convertible interest of £19.3M. The later refers, I believe, to loans stretching over 5 years, to the co. from Fahir Nahab, a brother Fahaz Nahab. Interest to date on these loans is simple and at 10% pa, is c £6.02M The interest can be converted to shares at a rate of 2p per share. If this was exercised, thare would be another 300,000,000 million shares on the books. This is unlikely, since who will buy them, unless they are massively discounted, and sold to II's, with Nahab also selling some of his holdings.
In any event, the debt, according to RNS's should be repaid by 31 Dec 2019. The 1/2 year report showed a cash balance of C£750K, and income of c £1.15M It's hard to see how this debt can be repaid unless there is a major fund raise, and it will not be at these sp levels. It will take many years of decent profit to repay this debt. I'm sure cheaper money could have been found in the market than paying 10% interest. All of this of course is my personal opinion, and who knows, the Nahab family may decide to write the debt off!! GL to all investors

The posters with decent memories will recall that I posted several years ago that the price per scuf ( then widely quoted as £1.50 and raise by crude to over £1.70 because of the OGIF deal) , was widely off the mark, and I quoted a figure of c 35p/ scuff, which obviously received little praise, if any. lol. My figure used a USA model for pricing gas in ground, and is weighted on POO. Again, posters with memory will recall I posted at length on why POO will fall drastically up to 2025.. Reason, the major advances in electric car sales, either ECV's or, preferably HFC vehicles. This received condemnation, particularly from daveyboy, who said ECV's will not make any impact unil 2050.!
The major element in the GSA is POO. 60% of oil production goes to transport, and obviously, a significant move to Electric cars will impact negatively on POO, and a move to HFC vehicles will have a significant negative impact on POO. I doubt if POO will b above $50pb by 2025, and probably sooner. The main problem with HFC vehicles is price of H2. However, there are currently 2 major researches being done on much cheaper production. I don't know how today's debate in HOC re; UK in energy pollution crisis, is going on, but, although we are small fry, when USA elect a Democrat President next year, USA will re-join the Paris Accord. All electric vehicles are expensive because the mfrs front load the profit on the selling price, as opposed to ICE cars where there is minimal profit on selling price, but profit is weighted on to the lucrative exclusivity agreements and spare part sales. Servicing and spares are much reduced with ECV's. Shell have been touted as a likely suitor, I disagree. RDS have an aggressive policy in reducing heavy oil reliance, and although Natural Gas is 'cleaner'. it is still a dirty fuel, and RDS are investing heavily in renewables, and are the worlds major producer of H2. The question we have to ask ourselves is what price will anyone pay for us if there is a 'chance' the POO will fall below $50pb and the GSA is about $6.50, or less. Hope you JP disciples are right at a LE of £2 +.

thnx for the time in 'part' replying to my post. crude has obviously ducked it since he has no answers, only one's which will agree with my points . Now for your point that we raised c£1.4M in 2013 via the 4p placing and sold to Coro for c£15m. . Copied below from the Cons. Balance Sheet YE2013.

Net assets

15,317

21,514

Capital and reserves attributable to equity holders of the company

Issued equity share capital and share premium

63,085

63,083

Accumulated deficit

(49,029)

(42,273)

Foreign currency reserve

1,261

704

Total equity

15,317

21,514
Figures in £M and lower figure is YE2012.

So we sold out and received about the NAV. Not the huge increase in asset sale you are attempting to make out. Out further good news for you (lol), which you failed to mention, in 2014 CIP injected £14M in cash. Suggest you try harder, In any event, S/h who bought in at 4.2p had a loss on their investment of c90%, irrespective of the sale price, and this loss was obviously attributable to a much larger share base cf 2013. Fact.
You need to pay attention to details when you question opinions and facts.

Point 3) is a fact.
Point 4) is a fact. If you are so inclined, mail JP and ask him, or even ask crude ( Will be a LE b4 you get an answr.lol.
Point 5) is a fact
Point 7) is a fact
Point 8) is a fact.

You do not post regular, and I strongly suggest you try and reduce your output. GL

Crude, thnx for the reply to my post of yesterday, and yr comment that you could argue each point - well go on then - i dare you., since one of the points raised, is a question i have asked you specifically on 6 separate occasions, all unanswered. Of course, the other numpties who disagree with my post can also argue the points raised - that should be fun for the board, and educational, and on-topic. For other morons who feel my post shows a personal lack of mngmnt ability, suffice it to say, I never tolerated fools, so they can rest assured they would not have found gainful employment avec moi. lol..

1) He sold the Italian assets to Coro. - He had a massive fund raise in 2013 in Italy at 4p a share ans sold out to Coro at less than a halfpenny a share. A loss of c90%. Magic.
2) He bought Sidi. - and the consensus is he overpaid, and we still have no idea if its worth anything........and he brought OGIF onboard - Well done, and of course, no one else on the planet could have done that.
3)Brought SCHL on board.- and gave them 27.5% of the whole company. When I mailed JP re: this his reply was, 'hindsight is a wonderful thing'. lol
4) He took SOU to Morocco- Wrong, he was the figurehead by reason of being CEO, the asset was found by Luca and family.5)
5) He took SOU out of SE asia - and Coro has returned there!!. lol
6)He brought the finest team etc. - After 4 years we still dont know if we have a crock of gold or a crock of frog s**t. Not many drills, some dusters, and I think the Jury is still out on the question of how good is this team. If we go on number of drills and gushers, then our team is not in the same ball park as that over at SDX.
7) He brought Marco to SOU. - Very true, and poor old Marco and his chums have suffered the same losses as us PI's. lalalalalol. hahahaha
8) Continually negotiates with OGIF and FEED.- and with no results to date, with many self-imposed time lines missed.

Where I do feel sorry for JP is having to continually remove the spittle from his shoes put there by his number one fan. lol

A more dynamic leader, with the acreage and previous reports on the license area ( see Exploration posts), would have instigated a multi-drill campaign, over a wide area, re-drilled previous promising wells, many moons ago, and by this time we would have known what we had and been liquidated cf Italy, or sold.

The only this JP has to show on his cv for future employment is - exceedingly rich. lol

in tatters. SOU sp c19p, coro c2p Echo c3p ( was trading at 18p 10 months ago.) . C'mon Crude, tell us again how good he is . If he was a little competent, he would have instigated a 12 well drill campaign after TE5 over a large area , and by now we would have known if there's gas, and had an LE. Years down the line, and no-one knows if we have a crock of gold or a bag of bones.

Although I live overseas, I would have voted Remain. I didn't vote because living overseas gives me no right to have my vote counted and affect those who live there. However, since UK voted leave, I am a leaver. It was a democratic vote. I have no idea what a 'peoples' vote is. The referendum was a peoples vote, ne'st pas. It is a shameful ploy by a Michael Foot clone ( Corbyn), ( and look what happened to Foot. lol) to change something he disagrees with. Another vote would give precedence, and anyone who disagrees with a 'result' would want another 'peoples ' vote. A week or so ago, The Speaker, using a 300+ year old precedence judgement, ruled the PM could not bring the same question for a vote in the House. Democracy is following what the Country voted for. All IMHO obviously

Not a member of his fan club ( ever), and have repeatedly asked his no. 1 son for an answer about his JP'ness taking us to Italy and losing 90% + of our investment, and guess what - no reply. 6 X asked him@ However, that aside, there is a general consensus that JP has played a blinder in Morocco. I say not. The SP tells the truth. Are we drilling TE11 - not even the BOD know. JP said many moona ago, that with the vast acreage we have in Morocco, it would be extremely unlikely to hit the only gas there with 2 drills. So a more dynamic CEO, and one more considerate of Investors than his own personal wealth, mkight have instaigated a 10, 12 drill campaign at the outset in The Kingdom. Money would have been an issue, but he gave Schlum 27.5% of the Co, and I'm sure investors, us, since there are no other Institutional Investors apart from the Italian money making machine, would have coughed up sufficient to have a 12 drill campaign. If the gas is there in quantity, we would have hit big with maybe 4 or 5 of these wells at various locations, and have had an LE by now. All of us, 4 years down the line there now, are none the wiser what we have, and that that includes the BOD - it's a shambles frankly. May be the 'clever idea' JP had a few months ago was his resignation, and get somebody in with a plan. Forgetting all the lying tweets from him, the shameful uber ramping soundbites, too numerous to mention, at this present time, today, this 'extraordinary communicative' ( sic). CEO, has left everyone in the dark with GSA, LE timing, SM, 3 well drill campaign. He's a shambles. NO morons, I don't want a lower buying in price, Im fully stacked up here and believe in the judgement of Luca when taking us to Morocco, and his knowledge, that there is gas ther, and lots of it. Unfortunately, same as Italy the CEO is incapable of finding it.

Def: Insignificant.
'too small or unimportant to be worth consideration.
"the amount required was insignificant compared with military spending"
synonyms: unimportant, of minor importance, of no importance, of little importance, of little import, trivial, trifling, footling, negligible, inconsequential, of little consequence, of no consequence, of no account, of no moment, inconsiderable, not worth mentioning, not worth speaking of, nugatory, meager, paltry, scanty, petty, insubstantial, unsubstantial, flimsy, frivolous, pointless, worthless, irrelevant, immaterial, peripheral, extraneous, nonessential; .

Exciting opportunity
' The opposite of above..'

of Topper ?)

Copied fro RNS today.

Sidi Moktar
The Company views its Sidi Moktar licences as an exciting opportunity to explore for high-impact prospectivity within the pre-salt Triassic and Palaeozoic plays in the underexplored Essaouira Basin in Southern Morocco. In June, the Company was delighted to receive Ministerial approval of a new eight-year Sidi Moktar Onshore Petroleum Agreement. An Environmental Impact Assessment for the proposed seismic programme is underway and the Company continues to assess a potential farm down of the asset, while retaining operatorship of the permits, ahead of potential exploration operations in 2019.

The message from BB event was that SM was 'insignificant. This is yet another example of the Chairman of the company saying one thing, and JP saying saying something completely different 'down the pub'. Yes, he's good at communication is our JP, or as some would say, 'disinformation'. After yet another cosy chat, answering questions, a few days later, the board is full of posters asking questions. What is the point of them. aggh yes, free booze for JP's boot lickers..

The SP is the result of the Moroccan assets, which were identified by the Italians, not JP. And of course, there are many contributors on this board, very much pro JP, who have been critical of some of his decision making, not including his 'uber' ramping ( £10 a share wont cut it, etc, etc ad naus.. ), such as the price paid for SM, the %ge given to SLB, the timelines fiascos etc.

you could go on and answer a question i have raised with you on 6 occasions.
Q) JP released us from our Indonesian obligations, had a significant cash raise in Italy with an open offer of 4p a share, 4 years later sold the Italian assets for an 'happeny a share ( c 90% loss), and only went to Morocco on the back of our Italian board members who identified the licences there? AND, as a Diector of Coro, is returning to Indonesia, and has already bought assets there?
A) ?

I've commented before that with previous claims that 'news' is imminent, these 2 crucially important events are now farcical. I'm not a 'disciple' of JP and his teachings, but he cannot be so arrogant as these delays portray him to be in taking pi's for fools. He has often said that with the GSA he would rather get the right deal than a rushed deal. The obvious conclusion to be drawn from this is that all is not going to plan and he has problems in obtaining his published figures.( 7 -9USD I believe). The simplest way to have seen a timely resolution to the SM FO, was to have had a bidding process with the 'many interested parties'. Again, the continued silence on SM is deafening.
I am led to the conclusion, since I believe him not to be a fool, that he already has a prospective purchaser(s) of the company, who want to conclude the aforementioned events themselves. A red flag against this idea, is many companies have RNS'd that they are in discussions with a prospective buyer, which may, or may not lead to the sale of the company. What is there to stop JP issuing a similar statement ?, unless there are are specific conditions which may preclude this? But, because he will not be drawn into meaningful conversation on these two crucial events, I am minded to believe he already has a deal in place, AIMO of course.

I am still of the opinion ,as stated in my post the end of the other week, that the 30% rise at that time was due to insider dealing from site staff, JP is covered in not releasing 'news', since the last RNS stated that 'wire logging will continue etc'. The small 'sell off' last week, I think was simply profit taking . I expect a RNS this coming week confirming a commercial find, and probably further net pay zones. \have added more. Happy days.

That buying pressure from 14.30 onwards ( 15.30 Morocco time) has all the hall marks of insider ( site staff et al) trading. Very good volume. They are logging and like what they see, or maybe have hit another pay zone. Lets hope so.

Only your clones are interested dear boy. I was recently on a yacht in the Caribbean, then into the Pacific, onto to Galapagos and final destination Valparaiso. Only interested in sharing with family and friends, as I was with the cruise down to Buenos Aries and Punta del Este t'other week. Plse keep your exploit tales to your mentor and F'book. PLEASE. If any posters are interested in Janus Crudes exploits, plse join Sound F'book.

No, I didn't expect floor space at Currys , but with the comment Nichols made, copied below, I would have expected after nearly 12 months that proto-type machines would be available, and with a sales campaign ( you know what that is I assume, saying 'coming soon blah blah blah'. How old are you, 80. Get up to speed om marketing old boy.

The XDrum is a system which enables manufacturers to incorporate XOrbâ„¢ technology into their own-branded home washing machine designs with minimal disruption to their manufacturing process and at low cost..

Doesn't sound like the technology is going to stress the WM mfrs..
'

have nothing to do with so called ' market manipulation'. These trades were designed so that a computer could look at trades being made and action a trade before the broker's trade went through. Obviously if the broker trade was of sufficient size to alter the sp, the algo trade would benefit at the old price. From discussions on here one would think these trades have only been prevalent since drilling TE9. Check the trade history for the past 3 years - more algo than anything. QED

This is not a dog of a share, it's a bitch of a share ( hope that is not pc incorrect).

In the absence of revenue stream guidance from the co. for it's outsourcing, licensing etc., the co. results and sp tells me the revenue stream is poor at best. Unless the washing machine technology can provide sales of millions of units per annum worldwide, then this ship is dead in the water. I would expect the Chinese to 'copy' any patented products, so forget the Chinese market.

Below is copied from 9 Jan 18 RNS,

'Mark Nichols, Chief Executive of Xeros, said:

Â

"We're very excited about the launch of our domestic machine at CES with its three new technologies.

Â

"The global domestic laundry opportunity is enormous: 119 million machines are sold annually around the world, and the global market of both machines and detergent together has an annual retail value of $127bn.

Â

"This is a key development for us. Our technologies provide a sizeable and growing group of consumers with home washing machines that are environmentally friendly, using considerably less water, detergent and power as well as providing better cleaning and fabric care."

Â

The launch will showcase three new Xeros-developed technologies:'

Either CEO doesn't understand the market, or co needs better sales staff. I don't live in UK, and vast majority of WM sold here are of the vertical drum type, with the central agitator and cold water wash. When I have spoken to local suppliers of WM's they have no idea what I am talking about, even when I'm sober and generally coherent. Country is Brasil btw with 200m population. Is the product being marketed in UK? Do WM suppliers know of this technology? Any replies appreciated.