Yes ~~~ a very chastened PH . Even his scripted presentation skills leave a lot to be desired .
I can`t say with any honesty that I like him very much and he wont be on my Christmas card list .
~~~ BUT ~~~
I believe that they have now understood the issues facing 16 and with today`s technology should be able to get the well producing effectively . Not long till we get the result of the potential from 38 and with a bit of luck they might just have avoided any similar issues to 16 . The gas will I hope be a transformational element into the future .
The sp may be on the floor for the the moment but positive results will guarantee a very rapid return to nearer (and even perhaps beyond) the 11p placing price .
This is Oil Exploration , so nobody knows exactly how events will unfold . but I plan to buy a few more to lower my average .
If it all works out , I might send PH a Cadbury Cream Egg for Easter .
Normally I never criticise any Company in which I am seriously invested ~~~ BUT ~~~ while DW has made made many good calls , I would say there have also been some poor judgement decisions along the way . I know it`s easy to say that with hind sight but hindsight is all we have to make any accurate assessment of performance . For example , looking back this year Winx was clearly a disaster we did not need and although I hear Company line :` ~~ it didn`t cost a lot ~~ `, it certainly did !
It cost us funds which we subsequently had to replace wit a less than successful CR , but more importantly it cost us reputation damage in terms of our credibility . I think it was a serious error of judgement to get into bed with Red Emperor and I conclude it was a pure gamble which of course dramatically backfired , I don`t buy the : `well , It didn`t cost us much`.
All in the past , but this has not always been managed as precisely as I had hoped .
~~~ So ~~~ " Laughing all the way to the bank" !
I really do hope so ! It was disappointing that PMO did not part with some much needed , much hoped for , sort of expected cash at the FO , but PMO looks to be a quality partner . I don`t really care if their financial contribution to 88e seems a bit miserly , I only want them to be successful because we will at last be beneficiaries of the `Potential` we have waited so long to see realised .
I think a lot of LTH share your frustration and disappointment WAaussie . The next six months are going to be pivotal and it really does now feel like win or lose . Still the optimist , I believe it will all work out to our benefit , just a bit more patience required ~~~ AGAIN !
Chrisev1 : I wouldn`t worry about it , nobody really understands the daily machinations devised by those mysterious Market Makers , they are a law unto themselves !
Take heart in the the knowledge that within the next six months (and probably within three ) the share price will almost certainly be higher than todays valuation . I am very confident that PMO are not spending 23 M on the toss of a coin gamble , they have a first class record and the time taken to review the project suggests that they are also more than just hopeful .
The reasons we are at this price have been well documented and if you believed strongly enough in to invest your money in the Company in the first place , surely a few more months to wait for a return will prove rewarding .
Message ~~~ Ignore the daily sp boredom ~~~ more important ~~~ ignore those dishonest , disruptive posters .
The ridiculous spread as been a huge deterrent to buy as the share price has been collapsing . The spread is currently 20% ! This will act as a deterrent on the way up 1
Do the MM`s have a plan ?
Do the MM`s have very few shares to manage ?
Do the MM`s know what they are doing ?
Yes ! I`m much happier today and think that we may have seen the bottom if this horrendous fall .
As mentioned before the silver lining IS the share price and I further reduced my average this morning .
There`s a long way to go but I am confident that I will look back in about six months at recent events and be very glad that I
used this opportunity to buy more . In fact things `night` just start moving very quickly as ; problems with 16 are resolved , result of 38 drill are released , and Gas contract /control become clear .
I notice that many of the long term investors in 88e don`t bother to post here any more , or have at least reduced their contribution . We are poorer as a result of their absence . I suppose the collapse in the share price has attracted the less attractive to this thread and as we wait for tangible developments the news vacuum is filled with the vacuous .
At least some of the previous derampers demonstrated a degree of humour and entertainment value in their posts , but this secondhand car dealer from Harrow can only claim fame by the intensity of his diatribe .
I suppose if you`re waiting all day for someone to turn up to look at a clapped out old car (`Drives Good`~ whatever that means !) you`ve got plenty of time on your hands to post rubbish .
Strangely the big plus at the moment as I see it is the share price !
I bought a few more today .
Good luck to all the good guys here I /We , know who you are :)
Good posts Bladey , in the main I totally agree .
However , while he may remain `comfortable` in his current position I remain very dissatisfied with the performance of P Haywood . I can`t for one moment believe that the rest of the BoD were entirely happy with his performance . Managing any business isn`t simply about one short term financial win and while I have no doubts about the track record of the other Board members , I remain very skeptical about P Haywood`s qualifications for the job .
~ " YES, PH is a bit green," ~ Not good enough . Are we lumbered with a CEO who`s learning on the job ?
I think the future here looks very promising and I am sure that the sp will stage an equally dramatic recovery over the next few months , but it remains to seen if PH can bring added value to an industry where his knowledge and experience is `a bit green`.
I didn`t want any more shares in this Company , but I will now take the opportunity to lower my average , in the belief that the next phase of development will prove productive and transformational .
I am really disappointed with the reaction to the RNS today .
Could it be the usual ; `Sell the News` mantra which for reasons unknown the MM`s have just trashed the price ?
The AIM casino is a bad place to be at the best of times , but when there are so few shares in the hands of PI`s the moves both up and down can be dramatically exaggerated .
Hopefully it is just the pesky MM`s up to their underhand tricks , for whatever reason I have no idea .
The more I look at my (Daily !) increasing loss here the more angry I become with P Haywood .
I would never normally talk down a share in which I am invested , but the problem here , as I see it , IS more than anything ,
P Haywood . By speaking out now I don`t think I can do any more damage to the valuation which is effectively the just the money raised at 11p !
It also seems to matter little now wether 16az flows or not , the focus is on the future drilling plans , the Gas , the current spud , the possibility of Oil with no debt on the balance sheet .
I believe this Company has some real potential into the future ~~~ BUT ~~~
NOT with P Haywood as the CEO .
With the loss of trust , goes the loss of confidence and hence the loss off support .
We need a qualified , proven , industry specialist in control of operations ~~~~~~~ NOW !
LB28 : You correctly point out ~"He did it "~
Yes he did , but the fact remains that there was misjudgement / naivety / immaturity or stupidity associated with his statements concerning 16az . Some even regard his statements as deceptive . I believe there now to be a lack of confidence in his abilities to take this business forward .
He my not be the root cause of the mechanical or technical failures at 16az ~ BUT ~ I now think that Paul Haywood`s position is untenable and he MUST must be replaced with an industry professional with a credible track record ASAP .
I didn`t buy anymore today , but I was watching with interest the revolving door . I have to agree with the criticism of PH , I think he has very seriously damaged his personal credibility which might not be recoverable and could be a drag on the business going forward . As a sacrificial lamb , with a quality replacement , the Company might be better served into the future with a new CEO .
Never buy before 9am , there may be a few stragglers , but despite the problems , this is now very very cheap . I will be buying tomorrow , dramatically reducing my average and happy to see events unfold as the Company surely recovers from this set back .
Again ~ MM`s just messing about with the bid . There are but a very few shares floating around amongst PI`s so it`s going to get quite interesting should the Company release a positive statement creating a demand for their shares . Perhaps MM`s anticipate this and are just trying to pick up a bit of stock in anticipation of demand . I hope so ~ but who knows .