Member Info for V111JAS

After such a run of positive news ,forward plans and the imminent spud , it really is strange that we are still below 3p , especially when compare with the peer group .
I don`t think it has anything to do with this concert group . Who knows what game they are playing .
I can only think that the market , as it often is , very unforgiving of the PH 17p spike driven on , let`s just say naivety and ignorance a couple of years ago . Perhaps they will require absolute proof of production and revenue before adjusting that crazy 18Million market cap .
Perhaps the direction change , which seems inevitable , will be triggered by the quarterly report and the conclusion of of this Shares for salary which would seem to be overly beneficial for four Directors .

Ok Guys , I get it , there seems to be a growing ground swell of dissatisfaction post this placing which , debatably , might have been achieved at a price nearer to 2p . We simply do not know why , who has subscribed , what the cash is to be used for or why . I also agree that this is potentially an error of judgement , but again we just do not know . I`m also as disappointed as everyone else to see the collapse of nearly 50% in the value of the stock since the begining of the year . Unfortunately sentiment has drifted in relation to the sp , perhaps it`s the other way round , and of course PI`s are naturally very disappointed that none of these `indicated` projects or some partnership venture have yet become a reality . Overpromising and underdelivering is a big No No , especially on the AIM market . All these factors ~ and more ~ puts the reputation of the CEO and his team on the line and open to criticism . I get all that , but :
There are equally many plus points which are so easily ignored when sentiment starts to wane . We do know that post the destructive CC , which we won , North Fork , Billingham , Deeside , Greece , Croatia , Recruitment , are all being advanced no doubt as quickly as possible , and there is no doubt much going on behind closed doors . We surely do not want any more suggestions of `Jam Tomorrow` , we are awaiting confirmation of achievement and success .
When that comes , sentiment , and the share price will take a 90` turn and there will likely be another scramble for stock .
This Company is not some fly by night operation that will disappear into the `Syngas`, just take a critical look at all the `Greenies` . All seem to have been pegged back post the 20 20 enthusiasm . In fact EQT has faired better than most , likely because it is better than most , I would say it is the best of the bunch !
These projects take time to negotiate , the infrastructure takes time to build but once complete the profits will accrue with immediacy .
So returning to the burning issue today : `Exactly what IS the cash going to be used for `?
In this respect I believe DP has to be more forthcoming , but I suspect he can not do that until deals or contracts a closed and final . Rock and hard place .
Which means a little more waiting for supportive investors or departure if your faith in this business has diminished to the point of mistrust .
I`m waiting , I`m disappointed , but I still do believe this has a stellar future ahead . Fwiw , just my opinion , I don`t think we are that far away from the first piece of dramatically transformational news and I think I mentioned before , news is likely to arrive like buses on a rainy day . ( ~ and it could be raining on Monday !)

VGLA .

14% `Deterrent` spread . Are they short of stock ?

Well ~~~ err ~~~ ummm ~~~
I`m sure I always said that I thought PH was probably the finest , most talented CEO in the oil business with a focus on creating wealth generation for this Company`s very long suffering shareholders ~~~
errmm ~~~ LOL !

15.36 ~~~ Good post MP .
As AJW mentioned either WR16 producing oil AND gas AND in serious volumes . Fingers crossed .
RNS this week ?
GLA

IMVHO ~~~ I don`t see the MM`s being able to keep this placing price open for very much longer .
They must be getting somewhat short of stock by now and accommodating a few late comers not worth the effort .
Unfortunately , I just can`t buy any more here , my portfolio balance has been flashing Red Alert for weeks !
Can they keep the price down before news hits the screens ?
I hope not , but you never know in this game .

~ " bankrupted by their dictatorial decent into authorism " ~
Did you mean to say Autism ?
Because that`s what they are suffering from over here :
They can only hear the loonies on the left , the ridiculous on the right and the wokes in the middle .
~~~ Oh ! I should mention the other lunatic fringe on the bench obsessed by Whinger and Ginger .
The world HAS gone completely bonkers .

Thank goodness for Old P H and my stake in Block which will multibag over the next 12 months ;)

Hepseal , What a long boring journey , so anything to get this `Work program` started is fine by me , but , i`m more a fan of Solid Silver than plate ;)

You should soon be feeling a lot more comfortable Jnkeir .
Volume today was virtually nonexistent which suggests that the usual post raise churn may be over .
All we need is a little bit of positive news and we`ll be of on one of those buses that all arrive at the same time .
I`m very confident about the prospects for the second half of the year ~ Very !
GLA .

What`s with the 2 June Twitter picture of ten light bulbs , nine lying flat one illuminated standing ?
I hate silly stuff like that . Don`t they realise childish suggestive issues like that are demeaning .
If you`ve got something to say ~ SAY IT !

You`re not alone Bob .
Today`s buying was countered by `City Boys Sells` , you can see the computer triggered dump at the end of the day as these short term traders took their .01p / .03p profit . You really couldn`t imagine doing that except you need to take into consideration the huge volumes these people churn . You`d think they would wait for the first bit of news possibly generated as a consequence of the cash now available to the business ~ Nope ~ that`s not how these guys work . They`ll be onto the next half a % generator next week while we wait a few months to see a 50% gain , then onwards and upwards !
ATB

Caution to the wind !
Bought a few more today to bring my total to a nice round number and my average below 3p ~~~
~~~ OK ~ Turn on those taps !

There would seem to be very little selling just people topping up , effectively at the placing price .
Which all goes to suggest that ~~~ `They wouldn`t want to be out of this over the weekend .`
Sorry , couldn`t resist that !

But seriously , the first bit of financial related news and this should go up like a rat in a drain pipe !
VGLA .

Perhaps I can answer that :
All publicly traded shares are controlled by the Market Makers , because that is what they do .
They make and manage a liquid market in which shares can be traded .
You may dislike their often criticised activities , but `Foul Play` is not a part of their agenda .
If BLOE was worth $10 , it wouldn`t be priced at $3 , it`s only worth what people are prepared to pay .
No volume because there is no interest and you can`t blame the Market Makers for that .
GL.

Flipping Flippers flipping today as expected .
Should all settle down in the next week or so . This period will provide an opportunity to top up at almost the Primary Bid price for those who felt they missed out on their allocation .
Roll on a few months and I feel sure that the news flow will see the sp gathering momentum and making any margin between today`s buy price and 1.50p quite irrelevant . I doubt we will ever see this price again .
I wonder what news nugget will be the first big price shifter ?
VGLA .

AJW ~ 07.21 : ~ Thanks for your excellent response , I do agree with the points that you make .
Yes , I remain very annoyed with PH , but also accept that ALL the blame for our current malaise is not entirely his fault .
When trust is lost , or even even diminished by behaviour , it takes time and proven actions to redeem a damaged reputation .What concerns me now , irrespective of the Covid set back , is this continued depressed valuation . Perhaps because my trust in PH is damaged I am concerned that this may become some `Lifestyle Company` . A gravy train , with Directors content to drag their feet , collect cheap stock , salaries and expenses without driving the business forward with urgency and determination . We`ve all seen this sort of unacceptable behaviour among AIM companies . I really hope that my fears are completely unfounded , but the poor detailed news flow over recent months just fueled my suspicious nature . I would be very annoyed if some predator arrived on our doorstep at this point in the proposed development stage . Certainly that `Concert Party` is not the White Knight that I would be welcoming with a cup of tea at the front door . I know I said this before , but I can`t help feeling that a change of CEO for a seasoned , experienced professional with a proven track record would see an immediate reassessment of our valuation . I know that will not happen , at least short term , but I do think there is a real urgency and requirement for PH to get this moving . As you say , he is the CEO and he has a specific responsibility to shareholders . I hope he lives up to the task ~ quickly !
Apologies if this sounds overly negative , I have no intention of selling In fact , although this sounds contrary I may even buy a few more ! This has become so very cheap it must be a Win Win whatever the outcome . Of course we all want it to be a big Win , I feel we are vunerable and that might result in a small Win ! Perhaps Bago and the GGov allow the Directors to feel comfortable with this uncomfortable situation , I just do not know .
Anyway , this is just my personal opinion and a reflection of my frustrations primarily fueled by past events and poor IR , we really must move on soon .
Also ~ AJW ~ many thanks for all your detailed research and continuous information flow , so encouraging .
If only , that sort of supportive dialogue was more regularly forthcoming from the Company , I feel we would be in a much stronger position today and I would very much like this silly valuation to be a lot higher before they turn on the gas tap .

GLA .
ps: Good post Madmanrob ~ Agreed !

16.40 : ~ " my guess is approx 500 boed " ~ Probably about right Hepseal .
IIRC all those months ago when PH started bragging about `The Greatest Oil Find in modern history - ish` , he said the discovery was c. 1100 boed (before we found out that it was mostly water.) and the share price rocketed to 17p+ .
Today , with a much stronger business , much infrastructure in place , no debt , cash rich , huge increase in potential acreage ,
revenue generating , Oil at c. $70 and rising , about to spud , drilling plans in place ....etc . etc . The sp languishes at 2.7p .
Is this an illustration of the risks and vagaries , unpredictabilities , irrational risks of the AIM market , or ;
is this an ever lingering consequence of the PH issue which has clearly damaged sentiment here ?
Hardly surprising that PI`s are not clamouring for stock ~~~ I think there might be a big shift in sentiment once they turn on that GAS !

Let`s just hope this proves a Watershed , and we can forget about the Woodshed !

Let`s just hope this proves a Watershed , and we can forget about the Woodshed !

5 million in cash + average current production running rate of 526 Boepd , illustrates the stupidity of the current Mkt Cap of 18M .
No wonder somebody lobbed in that 1.9M Buy at the close yesterday .
If this doesn`t rerate ~ Dramatically ~ and soon , we`ll know that there`s something nasty in the woodshed .
GLA .

Bobby : I agree re 09.40 , and especially with 09.41 .
Not many Companies on AIM are debt free , in fact not many Companies are debt free .
Just wait for that `HIssssssing` sound ~~~ Cash rich when they turn on the GAS .