Member Info for V111JAS

There are a lot of cryptic clues in this part of the Placing RNS :
"· Due to strong demand, the size of the Placing in the UK was increased from US$12.5 million to US$13.5 million, and when combined with the US$17.5 million Prospectus Offering the total size of the Offering has increased to US$31.0 million

· Offering expected to provide additional liquidity to the Company's Common Shares on both AIM and the TSXV

· Net proceeds of the Offering to be primarily used to accelerate the initiation of a continuous organic drilling programme at Gwinville, as well as increasing financial flexibility for potential accretive acquisition opportunities "

Not least ~ WHY was the placing oversubscribed ?

I don`t recall EVER seeing such a discount to a placing price .
Can`t be all down to the drop in Oil price or fears of recession .
Anyway ~ they`ve got their huge pile of cash ,
Let`s hope it`s not to service a lifestyle for life !
There MUST be a plan afoot .

Hoping that they have some `Secret Plans and Clever Tricks` to be revealed post placing , because at the moment they all they have got is a pot of cash but zero support .
Investors only see a Bloody Shambolic Gamble .

Very Very disappointing .
Bitcoin can only be a side show ~ Dump it CH .
Why is it taking so long to bring gas and oil on stream ?
These two issues are murdering the sp .

I`m surprised that noboby has said :
" I wouldn`t want to be out of this over the weekend ! " ~~~ Lol !
I`m not a chart guru or believer , but the science (!) is interesting to observe .
Of course with hindsight , you can`t be wrong !
So , looking at the SOUC chart I `Think` (?) I see a gap between 62p and 65p , If correct the pros on this subject would say the fall below was inevitable and of course the gap now has to be filled !
Charts aside , I think on fundamentals (much more sensible!) that we should rise above that price in relatively quick time .
Which of course means that the `Chartists `would be proved correct ~~~ irrespective of hindsight !!
Why didn`t they point this out a couple of weeks ago ?
;)
GLA

Less than Honourable management of this event ~ imo .
However , I like the fundamentals , and they now have some serious funds to move the adventure forward .
There certainly hasn`t been a big sell of , in fact there appears to have been some interest in taking up more stock . Fall overdone , although shares always hit the placing price , opportunity buying and clearly some averaging down .
The 20% discount was possibly necessary in todays tight fiscal world so no wonder the placing was a little oversubscribed . Hopefully it shouldn`t take long to satisfy the `Spivs` and we may see something out of left field in the near term .
I expect this will rise significantly near term .
Canada doesn`t look a disaster , quite a lot of buying here and as others have mention , a serious possibility of sme corporate action .
GLA.

"The entire market is in turmoil at the moment. Our current sp is irrational and not based on current know fundamentals."

This is absolutely correct .
In fact I would go a stage further and suggest that the whole market is teetering on chaos .
Reasons for this situation can be seen everywhere . As I see it , here are just `a few` issues impacting valuations :
War . Possible , even likely escalation in International hostilities .
Russia : Putin , Sanctions , Economic implosion , Civil unrest , Unpredictability .
China ; the Taiwan issue . Discord and unrest across the Pacific .
USA ; The bloody Biden problem , The bloody Trump problem , Political unrest , Leadership , Inflation , Immigration , Isolationism , Division , Direction , Corruption , Crumbling influence , Racism , Poverty , Possible Civil disorder , Guns .
EU ; Unrest amongst member States , Political chaos , Interest rate issues , Inflation , Monetary policy , CB support , Immigration , Gas / Oil , Production , Recourses , Food supplies , Weakening major economies , Non GB contribution .
UK ; Brexit incomplete , NI protocol , Uncontrolled (able ?) Immigration , EU interference , Remainer interference , Corruption , Ineffective opposition , Political volativity , The bloody Boris issue , Leadership , Inflation , Strikes , Unions , Food prices , Cost of living , Poverty , Weakening pound , Central policy , Trade deals , Declining productivity , WFH ,
Government debt , Personal Debt , Rising interest rates .

Etc ~~~ Etc ~~~ etc ~~~~
Bottom line for me :
I have never seen the Whole World in such a dreadful state of danger and disfunction ; Vietnam , The Berlin Wall , The Bay of Pigs , The chaos of Callahans 1973 Government doesn`t even come close .
The WHOLE World is in a real mess . It`s hardly surprising that the Markets are somewhat unsettled !
~~~ and ~~~imo :
As usual the blame for all this over the years and today , is surely caused by the egotism , greed , dishonesty and disgusting behaviour of all Politicians in Countries across the World .
I haven`t got a reference point to gauge how this might end up , but it doesn`t look good to me .

VGLA !

~ "They were REPORTED at circa 8.50am but they were probably PLACED at opening when the SP was circa 8.50p. " ~
(Of course you mean 4.50p)
I can see that the Bid dropped at 8.06 , but there were other transparent sells coming through at that time . Certainly you would not have known these trades had been placed , nor expected that 4,555,000 were about to be declared .
It is quite clear when they were reported . Absolute pure conjecture regarding the precise time at which these orders were placed (unless of course you know?)
As I said ; they have had zero effect on the price since they were reported .
If they were buys , then the price might have just recovered a little .

~ " You need to understand how the market works! " ~
Mmm ~~~ Unnecessarily condescending .

As the 4,555000 trade had absolutely zero effect on the sp , I suspect you are correct in that these were sells .

Have you been unloading a part of your c. 10% stake Setanta ;-)

Agreed ~ but traders in and out of here like a Bangalore Phall .

Some buys ARE showing as sells !
We`ve a long way to go after this ridiculous 50% drop .
VGLA

Despite today`s disappointing sp Performance there were at least two very positive events worthy of serious merit :

1 . `Court of Appeal judges rejected a last-ditch legal bid to block a flight due to relocate asylum seekers to Rwanda on Tuesday. The Public and Commercial Services union (PCS) and charities Care4Calais and Detention Action took the case to the Court of Appeal after the High Court ruled on Friday that the first flight to the east African country can go ahead.`

Well done Priti Patel !

2 . `The Duke of Cambridge said he would pull out of the Order of the Garter ceremony, held today, if the Duke of York made a public comeback. His reported intervention suggests it is highly unlikely the Queen’s second son will succeed in making a return to public life.`

Well done Prince William !

Unfortunately these were somewhat nullified by Dubya`s poodle , Tony B LIAR receiving his totally undeserved Knighthood.
( Mind you he`s in good company these days with the likes of Rolf Harris , Jimmy Sa VILE , Fred Goodwin , Phillip Green , ~
et all . What a farce ! )
Strange and sad that The Establishment seems completely unable to find truly deserving people .

Just IMVHO .

The current price is nothing short of ridiculous ~ BUT ~
this is AIM , there are serious external impacting ALL stocks .
When there is so much uncertainty the tide goes out and we are all left beached beyond the receding tide line .
There is little , probably nothing the Company can do about valuation in the short term .
In fact , the situation may deteriorate further with the specter of further International unrest in the East , mid term mayhem in the US and the real possibility of rising interest rates with recession on our door step .
This is not a comfortable scenario for any investor .
Fwiw ; I currently view the options as :
1. Sit on hands and wait for the bounce .
2. Sell and await the bottom ( which I suspect we have not yet reached )
3. Keep adding to reduced average or increase position .
4. Manage your position by choosing a `Mix ` of the above .
NAI , but I`ve opted for 1. because you can never be certain when the tide will turn .
These are such volatile times anything could (probably will ) happen . Buying back a reasonable position may be difficult .
I say that because the volumes during the sp drift over the last few weeks has been relatively very small and the Mkt Cap (as I have been saying for weeks !) is absolutely stupid in relation to CURRENT income .
Anyway , just my view on this depressing situation ~ NAI .
VGLA

Hello Chartists !!
Are we filling a gap twixt 4.6an 4. 7 ?
Are we destined for c. 3.5 before the inevitable Bounce ?
I haven`t a clue !
But , as Setenta mentioned poor liquidity , longer term horizons , no momentum , stagnant trading , some `Issues` and general market conditions seem certain to be working against positivity ~~~ at least short term .
fwiw ; I have to squint through my fingers each morning , but I do intend to buy more . However , i would now like to see the tide turn first , hopefully some positive news around August and into H2 will change the sp direction . Not too long to wait as long as we are not frozen out by Summer holidays , Sell the news or some unforeseen negative Global Event .

VGLA

~ " Lets face it we could be talking at least another year. '" ~
Prophetic . I`m afraid this is probably correct .
Unfortunately , in these troubled times investors are both nervous , cautious and impatient .
I`m sure that this will ultimately prove to be a great success , we will just have to wait .

VGLA

News at last .
Thank goodness !

Gawd ! This IS depressing .
There is no doubt that in the absence of news there is a lack of enthusiasm for the stock . (Perhaps an understatement)
After such a rich period of information last year the current silence gives way to increasing levels of doubt and anxiety .
Even when future expectations are very encouraging investors do move on for many varying reasons , worse still it gives rise to speculation such as in an earlier suggestion that there may be problems with 16-2 .
I fail to understand WHY there is so little progress ~ progress to seemingly progress anything especially as they have had the funds and the income to move this forward .
You have to ask the question ~ What on earth IS going on ?

~ Is there a problem ?
~ Or , is this one of THE most undervalued opportunities of 2022 ?

Even without Paradox ~ Without the 3 new drills (already paid for ) ~ Without 16-2 ( which we know is a restricted oil and gas gusher )
Oil now at c. $120 and predicted to rise again by at least 10% :
Current income of c. $ 80 m
Current mkt cap c. $ 80 m

This isn`t punitive , it`s just stupid ! imo .

C`mon CH let`s get started with this Crypto development ;)

VGLA

Btw ~ `Strange` trading again last week I wondered if someone was building a stake ?
Almost impossible to read the trades . No , absolutely impossible !
Nothing surprises me about the AIM shenanigans .

Thanks for making that very important point Sroddy . You`re not wrong .
Really , we shouldn`t be questioning the strategy and the progress of development .
With a current Mkt Cap of c. 80M and current growing revenue not that much short of it , we should be a much more attractive investment proposition , especially for all the obvious oil positives , especially in this particular region .
From my research and understanding we are grossly undervalued , possibly by more than 100% at this stage (bwdik!)
I am just amazed at our lack luster financial performance , the unexpected delays for production and the inexplicable lack of urgency ((Afaic) to move the whole project forward as quickly as possible . It might just be as simple as the totally disreputable , corrupt AIM Market and its manipulators . I don`t know .
I`m sure CH reads these threads , or at least has a feel for possible investor concerns , perhaps he will (hopefully) provide some explanation to some of the points raised asap .
`Privatisation` ?
OMG ~ I would be absolutely shocked if there were serious undefined issues camouflaging such an outrage !
Anyway ~ others will no doubt be able to provide addition angles of thought and a better analysis than myself .
Have a great great weekend with your families .
God Save The Queen !

VGLA