The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Dream away goooba........I know I am..........If you don't have a dream, how you gonna have a dream come true
All over the place in respect of price, spread and sentiment. The rollercoaster continues...........must be something going on behind the scene!
I guess that average monthly cash reduction figures being thrown around are being taken as the average of the total reduction over the period. As we don't have access to the management accounts none of us know what the monthly expenditure was pre cost cutting and post cost cutting. I would expect the monthly expenditure 9,8,7, 6 months ago to be higher than 5,4,3,2,1 months ago. So IMHO the monthly expenditure will be on a downward curve because it can take a bit of time for cost cuts to filter through. Given Mr Reynolds signed off on the accounts I would hope that he is happy with the progress being made. Again all IMHO , DYOR....blind leading the blind really...GLA
I’m finding the change in sentiment a bit surprising. This was and remains a speculative buy based on its potential as a shell for Reynolds and Lee to develop into something within the first 6 months of 2016. It was obvious when I did my initial research that NEW does not currently generate any income, therefore all expenses will inevitably reduce the cash pile. The fact that there is still a large chunk of cash is IMHO a huge positive. I do however accept that change does need to happen sooner rather than later to reduce the cash depletion rate. My interpretation of the RNS is that the current board recognise that (1) Oil and Gas will not give the returns required in the short term (2) exploration funding will be difficult to secure in the current climate (3) Reynolds and Lee have joined the board because of their experience in changing company strategies (4) the board are exploring all options are that are available (5) by conserving cash, the company is in a strong position to move quickly on any investment that meets the criteria. All of the above is in the RNS. Time will tell but this is all part and parcel of investing on AIM.........not for widows and orphans.........GLA
IMHO.....There is nothing in the RNS that I read even hinting at future expense for dealing with a shareholder action group. My interpretation is that the expenses are the one's already incurred. The RNS states that the board are reviewing all opportunities not just oil/gas based ones......surely this means NWOG have succeeded! If so there is no one to have a costly bun fight with.........GLA
still got £3.2 million cash and BOD looking for new opportunities.........nice :)
Agreed!...............just done another little top up 1,144,629 at 16:13 GLA
I think it will rise...........but only when we get a RNS announcing that we have dumped the old BOD and the train is ready to depart Limbo Land from platform 1.........choo choo all aboard!! until then pass the Horlicks zzzzzzzzzzzzzzzzz
Thanks Yoshie, I guess this means that yesterdays buys were over 7 million as it looks like ALL the trades on ISDX were buys at 0.07...........which I take as a far more positive view
any ideas where my purchase has disappeared to? I topped up by 996330 at 13:02 today, my shareholding has gone up in my ISA but not showing any purchase on LSE or elsewhere.
OK, yes get your drift now..........LOL!
I hope you are right. My wider concern is the financial state of the oil companies. There is a lot of chatter around banks exposure to oil company debt
IMHO I think the rise in crude will be short lived as mainly on the back of reduced supply. OPEC pipeline issues and US shale too expensive to get at.
What do you think about the three amigos recent purchase of 3%? I agree that there is little incentive for the BOD other than to protect their salaries until the last of the cash pile has been drained away. However will Clement Chambers, Christopher Williams and Daniel Levi be able to change the status quo. The other side of the coin is mentioned in TW's bearcast, if CC,CW & DL take control we get kicked off of AIM. I'm not sure how this one will play out, it certainly is not as simple as the NAV