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6 x MCap takes it to around 0.12p I think - happy to be corrected. This assumes no value attributable to SYNs other activities such as CCS etc

Let’s face it, Selan has been dragging its heals as a way to get SYN out over time. Best out of this and post into something else - but please, not more CCS

Latest Stockbox Interview well worth a watch, this company is so undervalued IMO - if Foulke 3 (end of Aug/Sept) and Foulke 4 (by end of Q4) are funded out of cash flow then this should re-rate. WTI holding up so expansion plans are viable provided it stays above $60

Well worth a watch - all is explained.

You serious?

Just watched the presentation - this company is a cash cow in the making, all production and no exploration and the operating profit per barrel is massive even at the current low WTI oil price. Confidently delivered presentation, no ambiguity and um ing and er ing - PW knows what he is doing and can clearly communicate it to non industry people like me. Currently the best opportunity on AIM IMO. DYOR

The capital raise in around July last year was expected to provide funds for around 12 months so it shouldn’t be a surprise that there may be a further raise shortly as Colorado isn’t coming into production imminently- but it doesn’t have to be at a substantial discount as this is a completely different scenario now; also it could be in the form of a bridging loan, but they need to avoid those dreaded CLNs

Very positive, you don’t bring in an EBT scheme at this stage unless you’re confident there is growth potential. Just need to see if they’ll need a fundraising before Colorado produces- probably will but that doesn’t mean at a significant discount this time as we are on the verge of moving from exploring to production

Dan, the SP is a problem because it makes doing a placing a problem as current shareholders would be decimated; the SP doesn’t reflect the company valuation (it’s definitely well undervalued hence PW keeping mentioning closing the gap) and it’s the company valuation that matters re borrowing. If the re-determination gives scope for more drawdown on the loan we should be OK re funding for next drill or buying any distressed assets due to lower WTI price WTI oil price. We do need clarity from PW on the 17th although I suspect we’ll get a RNS update by then so that he can speak freely on the presentation.

Fully agree, any placing now, and below the last placing price of 0.023p , would be a disaster for current shareholders and wider sentiment which is very important. PW, if the company has not got the funds built up because of lower WTI price, then please wait until it has rather than impose further dilution on an already battered shareholder base. Hopefully Premier Miton would resist a further placing but still maintain its current commitment. Looking forward to the Engage Investor presentation on the 17th when we should receive an update on the plans and funds position

Another Stockbox interview, keeping us informed. Assets valued at £10m, debt £4.25m, profitable at corporate and operational level and yet this morning the financial morons are out telling us it’s loss making because of debt and anyway it’s technically insolvent. You couldn’t make it up

Agreed, but we need to avoid more discounted placings and fund it via organic growth. PW, you’re doing a good job, but please pace yourself and if the WTI price remains at or around current levels then so be it - value will out in the end

I don’t think you can rule it out.

The financial position for the first half of 2024 must have been dire. The second half better as a result of ongoing work overs. To get a true picture of where we are after the completion of the second work overs and following the various placings is to see the half year 2025 position that should reflect substantial increase in revenue. Looks like further drilling pushed back to late Q3 rather than July but that’s sensible given current depressed WTI oil price. Hopefully PE will be interviewed but please please no more placings.

SP up yesterday and now coming back down (> 20%) with big sales - surely not another placing!!!! Hope I’m wrong, this would be the 4th over the last 6 months or so. We need news / update following recent Wilson disappointment

It’s sentiment more than anything - retail (particularly online) has taken a bashing and IMO most are significantly undervalued. (Just as they were significantly overvalued in lockdown). Value will out when the economy recovers and confidence returns to people’s propensity to spend and treat themselves. IMO it’s a good time to accumulate if you have the stomach and patience. Although I do consider the value placed on Ingenuity at the time of the demerger was a steal and I wish I’d taken some Ingenuity shares.

TBF he said in his last Stockbox interview that phase 2 would be completed in the next week - it is reasonable to assume this has happened as he would have had to RnS it if there had been any problems. I’m expecting next update in early June once the loan facility redetermination has taken place this month. It will be interesting to see how revenues and profits (operational and pre-tax) have been affected given recent dip in WTI oil price. Apparently $60 or thereabouts is the base needed to facilitate growth plans.

Hopefully we are just a couple of weeks away now from this acquisition being completed at a valuation of just short of £5m. Anthony T and the BOD have been impressive IMO and hopefully we can see a marked increase in the MCap. This should fly if phase 3 is successful

The current placing is at the same price as the last one which indicates to me that they wanted to get another institutional investor on board, it was more about that and the credibility of the wider shareholder base, than it was about the desperate needs for funds at the £6m level. This should be it now - IMO this will rise more than GGP did when construction begins as Kefi SP has been far too low due to sentiment and the fact the project is in Ethiopia and not Western Australia. Patience needed but slowly getting there.

The placings were not just for the Wilson drill but were for working capital as well. Directors bought in at 0.1p I don’t think another placing is imminent IMO