Member Info for webby42

I’ve had enough of this share after years and years of placings - They must have raised circa 30m since they started and for what? A company worth 4m. I have over 100m shares at .20 pence. Every time I get close to getting my money back they do another placing, to pay their wages. No mention of falcon 1 which was supposed to be the jewel in the crown last year, now shut in and no plans. Plus the placing doesn’t say anything about drilling / work overs of the new wells, so another placing on the way to do this. I said a placing is coming 2 days ago and was told we are fully funded!!! We are never funded because what ever they get they spend or take. 10 years taking massive wages, raising 30m on the way to produce a company worth 4m. It’s a shambles

But we all know there will be a placing within a few weeks. 1.5M they got to develop EP145 was spent on increasing percentage of oil from previous wells and they will need another 2 million at least to start filling more wells

Looks down to me , even after the great work over at Stanley 4 that produced oil and the winters 2 success.. we should have been up, that is why the share price is down

Apologies - I mean I haven’t included any cash at the start or sales revenue

So just looking back

They raised £400k 2/7 for falcon

Since then
9/9. Warrant sale. £87k
17/9 warrant sale. £92k
23/9 warrant sale £103k
25/8 Norseman. £144k
13/1 Norseman £116k
5/2 warrant sale £56k
15/2 warrant sale £15k

20/10 placing for the next drill £900k
19/3. Placing for aus. £1.5 million

Note the 900k. John was interviewed and he said that the money wasn’t needed, but they took the opportunity - probably because of the election

All the above totals £3.01m.

And now we have less than 2million - 1.5 for aus

So if we drilled another well plus another Stanley. We would probably need to raise again !!! Unbelievable

Where is the missing £1m

Note I have included cash they already had in the bank at the start of all this raising and any sales

They raised £900k in for the next drill which hasn’t happened

They sold welch project , was that 400k
They sold all the Norsman shares
They have had 200-300k in f warrant sales I believe
They just raised 1.5m for Australia

And now they have 2m in the bank

1m missing with no drilling !! Or I should admit a 20k work over

Plus I haven’t added the revenue from sales

This company goes through cash without actually doing by anything !!

what struck me from the RNS was, whilst Chuck usually reviews and approves the technical information in a RNS, in this one he is making the statement. Looks to me like Rick has already gone.

28% increase to 275K for Colin !!!

Total Salaries Bonus BIK 2012 2011 £’000 £’000 £’000 £’000 £’000 Colin Gallick 131 125 19 275 215 Ian Smith 105 50 13 168 140 Daniel Goldman 30 - - 30 30 Bernard Fisher - - 1 1 9 Mark Wells 37 - - 37 36 303 175 33 511 430 Pension contributions were 2012 2011 £’000 £’000 Colin Gallick 6 6 Ian Smith 2 - 8 6

Let's see tomorrow then !!!

Is this an all time low? It's either bad news or the boards inability to communicate with shares holders that is driving this down... There is absolutely no reason why results of a company this size takes 4 months... Not a director buy in sight for a year and if they can't at this price, why should anyone else!!!! Ive millions of these, but thinking now it's gone ---

Do agree, there is no reason why a company of this size shouldn't be able to release their accounts within 3 months of year end..... Last year it was expected, as the loan agreements were due and they couldn't release before they were sorted... So what's the reason this year???? I really hope it's not sales... How do you know the info regarding sales staff?

totally agree. They only acheived 4% growth in the first half, so i think 4m is a bit optimistic lol. would like to see a bit more growth in the second half, at least 10%, but i agree 4m by end of this financial year would get this share going. hopefully redmayne bentley turnover in the second half (large customer) will help this year and next... New deal with PracticeWEB just announced a few days ago, so a bit more good news. Also launched a brand new website today, so i hope that is a good sign. Surely not a sign of a company on the brink of going down the tubes !!!!! Results should be Monday i hope, so then we will know. Hopefully we will get a trading update for the first qtr too... good luck all

Not long now... Surely this company is worth more than 700k

Year end was January, so I wouldn't expect anything until latest end of April... Hoping myself that they are good including the outlook, but who knows !!!

That will teach me to top up!!! Every time I do, I just allow someone to get out !!!

Why has this gone up today when you can still buy at 0.42 pence? Strange !!!

I do hope they have a positive set of results waiting for us!!! Time to top up at this price, maybe! Problem is, if I topped up anymore I'd be a major shareholder lol...

Why wouldn't the share price go north now, just trying to understand... If you take away the exceptional costs and loan interest from the results in the first half they only made a 100k loss... So if they have made progress in the second half they could break even or near to... With the restructure they hardly have any debt too, so if they have made progress shouldn't we expect a good increase in the Market cap / share price?

Waiting for the results myself... I got well caught into these years ago when I got a tip from a friend.. First purchase was £10k at 23p.... Just bought another 160,000 and now have lots of millions !!!!! Won't say what my average is, but 1.5p to 2p would be nice... Worried about the comments about 100s of customers leaving though, but to be honest if that was true I don't think they would have many customers left... They talk about users which could be lots of licences to one customer.... Let's wait for the results and see!!