Member Info for wakeyinvestor

Massive percentage of shares issued across 3 placings at 0.03p. They cannot have possibly been churned in the short timescale since the news last week so either they are going to take a significant loss or the current SP drop is nothing more than a tree shake before tomorrow when loads of shares are expected to hit the market.

As feared re CCS.

A portion of sale proceeds will be returned to shareholders - this has to be a meaningful amount to pacify the main shareholders (we are all probably significantly underwater) so I’m hoping for at least 50% (say 0.03p per share). If it’s much less then what would be the point?

If old warrants are exercised this provides funds for the company and obviates the need for an imminent placing - I see this as a good thing as it provides confidence that HAA isn’t going Dick Dastedly on us and doing one last placing before the big news (hopefully!)

Listen to last 2 minutes of this week’s Sunday Roast following interview with PW last week. Very positive commentary.

Paul Welch is on today’s edition of The Sunday Roast on YouTube- will watch later. I don’t know how to link (sorry)

Each time they’ve done a placing Premier Miton has participated and more or less maintained their percentage shareholding- they won’t want to keep on having to do this. The cash flow wasn’t there because of a drop in production as a result of historic adverse weather conditions in the region as well as a decrease in the WTI oil price; also, because they were pursuing an acquisition the bank did not go forth with the loan determination. The jury is out IMO and Fouke 3 needs to deliver in October. Yes, I understand why Tony45 is frustrated but he needs to maintain his civility and class instead of continually posting his diatribe of nonsense.

Tony45, before you post it might be worth applying the test “what would my mother say if she saw this?”. I know you’re not happy with this share as do other posters, we really do get it.

Nice to see SP rise in advance of today’s presentation.

Lorna cares about raising capital to fund the project. To be fair, the company responded to criticism about significant discounted cash box placings with no retail offer for private investors. We now see the result - be careful what you wish for.

In hindsight we probably should have just sucked up a discounted cash box placing and sod the retail offer - at least that would be in the rear view mirror. The placing price wouldn’t have been anywhere as low as the SP is now. PIs - be careful what you wish for. I’ll be glad when the CLNs have all been converted and then hopefully good news ahead.

I’ve registered for this and fired off a plethora of questions.

AIMDOG, Paul Welsh confirmed PM held their ground following the recent placing - a very small reduction in their percentage holding but they’ve added not sold- they just didn’t maintain their exact prior percentage holding. Gutted with the placing but they’ve added not fact that PM continues to be a supportive investor takes a lot of the sting out of it. Fingers crossed Foulke 3 and 4 are successful- if so, IMO this will multi bag as the market should recognise the significant undervaluation reflected in the market cap.

It has taken a month for Selan to make the initial payment following the signing of the HoT - doesn’t bode well for prompt payment of future amounts - hence need some effective interest / penalty clauses in the S&P agreement. Couldn’t give a stuff about well updates now, surely they’re irrelevant unless we vote against the sale.

That won’t go down well with Premier Miton and also runs contrary to what PW has said in several interviews and presentations - credibility is going to be tested. I’m optimistic as the WTI oil price has remained for the most part above $60 which is required to fund growth ambitions and is the basis on which Premier Miton invested.

An update should drop anytime now as they’ve had the loan redetermination at the end of June and are due to drill Foulke 3 around the end of August so we will need to be informed how that is funded - this will be linked to profit and cash flow

Hi Laura I’ve bottled it and sold, taken a small loss - hope to get back in cheaper but appreciate I may miss the bounce. Good luck, but be careful too….

Why are we bothered about Cambay workovers now? Surely we just want the S&P agreed with GOI approval and then take the dividend and remain invested depending what the future holds, or get out of Dodge. We’re in damage limitation mode I’m afraid - Selan has stitched us up like a kipper.

The bond holders didn’t really have a choice to accept the terms if they ever want the prospect of getting any money back. NTVO now needs to produce and generate positive cash flow instead of regular fundraising- jury still out for me.

I’ve bought some too @£1.24 fingers crossed…..

Thanks Laura - we’re 2 posters showing mutual respect - others should take note.