Member Info for Wolster

Im new & tbh ive invested on gut feel + recent utube presentations & the Chinese investment.

Could some kind person enlighten me regarding reasons for the drop from 80p in June 18 to the yearly lows in the 20p zone this year.

Looking as a noob to the company I presume they relate to historical losses (in the test phases) & the lack of finance to push the project forward + obviously a lower interest in Lithium in the past.

But if i am wrong on that assumption please enlighten me.

Thanks

Sitting in my humm drum office job watching the shares go up looks good to (at this rate I wont be here long).

Bought in last week (sold some flat lining oil - joined the 21st century). Obviously my timing has been so far better than my usual standard.

Hi all, ive been avoiding the boards of late (didn't want to muddy the waters here with ranting etc..hopefully we will be on the turn soon)

Just noticed a great article, SRSrocco Report - The End of the Oil Giants, by Louis Arnoux 16/5/2019.

Im old & struggle with links (if someone wants to grab it), well worth a read & id love to here what our better oil experts on here think regarding it & its effects on the oil markets if true.

Add Libya to that list going forward could easily see carnage there.

I also wish to pay respects.

As such I wont respond to the flame bait below.

I hope you are correct BBN in all your statements & tbh im betting on it (no chance im selling at this price).

It takes a sale of 50% of most of our blocks & the discovery of a monster oil well to move the SP from 9.5p to 20p (the asset growth positive argument).

But

It takes a small lack of newsflow (20p to 17p), a 30% owned duster (17p to 14p), a free share for the boys issue (14p to 13p). (the incompetent director negative argument)

So going forward from 13p what on earth gets us back to 20p, we carnt sell the other 50% of our blocks, we carnt guarantee another monster oil find.

We can with confidence expect a lack of newsflow, our next drill could be a duster, middle sized or a monster so -3p, no movement, or +3p (going on the last monster duster pattern).

We are therfore trapped in this malaise of moaning & infighting for the next few months till either the asset argument wins or the directors scew up badly enough that the SP crashes to a serious takeover level (& tbh we must be close to that now)

All that lot addresses the Assets - for which their is a general agreement they are undervalued at current SP, & I am sure why ALL OF US choose to invest in the company.

All of the current moans are directly aimed at Directors - being there ill earned rewards, there decision making, there redundancy, or there general lack of focus & not forgetting failed promises past & present.

What I am trying to say a monkey could probably take the Amerisor Assets & convert them into a better share price.

What we have is a director board who are expert at enriching themselves at shareholder expense.

But ultimately the SP is SCREAMING at us somthing is wrong & im saying its the Directors & not the assets causing us shareholders sleepless nights,.

I wonder at this very moment what are the Directors ACTUALLY doing to improve the business.

Im not interested in past deals, or bollocks plans, or drumming up support - just ACTUAL day to day business.

For Example.

The pipeline farmout - what is ACTUALLY stopping them buying third party oil & sending it down that pipe asap, & whatever problem is causeing the hold up, are they ACTUALLY ticking the boxes as fast as possible (given their tonnes of free share morale boost) to get the bloody job done. Or is it all a pipe dream for the future.

The 50% farm outs - Given CPO-5 ONGC can wander around the jungles with the rig to there hearts content as they have control, I believe Amerisur has control over the other blocks, so why arn't we wandering around putting holes in all the interesting spots (which over the years must have been already identified) & suffering none of the costs(ok if the 93.5m is earmarked for specific seismics/wells) then we can go drill anywhere on the block & suffer only 50% of the costs.

Other Operators - Since we seem incapable of initiating any work on CPO-5 (ONGC rule here), are waiting for OXY to drill/siesmic the other blocks. What are we paying the directors for ? To sit around on there arses (draining the company in remuneration) & while our partner companies do all the leg work. What a comfortable retirement all our board have built for themselves - do f*** all & still get paid.

The recent negatives of the duster & free shares for the boys may in other companies be seen as slight blemishes, however here the picture of ageing BOD slowly extracting the life out of the company, whilst putting minimal efforts to run the business in the interests of the shareholders vs themselves is starting to form more of a pattern.

Get Rid.

Couldn't agree more.

In fact I do wonder why they even bother telling us about future plans at all.

They must know by the SP no one believes anything they say anymore, do us all a favour & chop off the dead weight of any communication oriented costs from the Directors remuneration, by immediately sacking PR team (they failed) cut all travel costs from the budget as well, absolutly no need to waste time druming up Investors when you treat them like crap neway.

Far more shareholder value just by trimming the budget imo.

You may need the spare cash to help hold off the hostile takeover, which is getting more likely everyday & my gosh I hope the whole back office team get replaced.

That right their is the alignment I wanna see with Shareholder goals.

While I'd love to put a positive spin on these latest developments - please address the negative along side it.

1) Directors reveal their free share option plan, just when shareholders are feeling kicked to pieces (like a re-run of the 9.5p days only a few short months ago) & makes a mockery of any improving company target models they may trot out - they may as well just feckin say - we fancied some free shares at this great bargin price & we dont give a crap about what you shareholders think, yum yummm.

2) We are gonna go ahead with the Sol drill as per our original plan, who cares we found a vast pool of oil in our current drill location (ie..we would much rather leave an unknown reserve of oil behind - which in a future fund raising spin - we can bullshit that this is the actual motherload (without actually taking the risks of doing a proper/cost effective job of proving the ACTUAL reserves & leaving us with no bullshit room to manuver)

3) We will take our massive drill off to explore into the jungles again to do more high risk drilling which may trash the share price even more ( which sounds like the perfect opportunity to issue ourselves some more free shares- at which point we may dilute the grumpy shareholders enough that they will never vote to leave us)

I no ive lost it completly - im OFFENDED that they chose this moment in the companies life cycle to give themselves the free shares. If they can do this to shareholders, why should we trust them at all.

Given these guys are probably our biggest cost center these days, instead of the good old monthly production updates, maybe of more interest would be how much they have costs us as shareholders this month updates.

What with massive salaries, bonuses & free shares all based on dubious (easily reached targets- man I love the excuse we want our employees to have shareholder aligned goals, so we piss off the shareholders & improve morale amongst the staff - REAL ALIGNMENT) whilst comfortably sat around the board room table coming up with there next bullshit well program & fanciful plan of how to tap more shareholder money.

I wont a takeover option fast now, im sick of them. I'd rather take my chances at getting the value out of these assets with a new board. One that might identify excess remuneration packages & eliminate them.

Honestly I swear they turn down production just to cover their remuneration packages, & leave nothing left so as to string out the gravy train.

I appologise for ever ramping this company in the past & I feel robbed at present out of hard earned cash which is being gifted to some **** on the board of this company, cause he had a little moan that his massive cash pile wasn't growing as fast as he had hoped - which is the only thing I have in common with the selfish board of directors of the company I have invested in.

So they are abandoning this CPO-5 pad after 2 drills (was going to be 6 from here wasn't it?) one monster & one duster.
When they dont know the owc level & aren't taking the opportunity to pin cushion the monster for production boosts (even tho the rig is huge & probably perfect for production well drilling vs exploration well overkill)
I suppose at least they wont have to turn the taps off to drill another well from the site.

They are then wandering off to Sol to explore with the big rig again on a higher risk drill.
Which imo cripples any suggestion of additional rigs on CPO-5.

Seems the long game is the only game & how much cash can the directors extract from the company/shareholder wealth from now till then.

Well I think thats always been the case, so no change.

Indico 1 certainly pushed us to 20p (& its not gone away) (in fact this will remain a consistent asset in the reserves until a water content is identified - ie no matter what this well produces the reserves wont dip until the water content is found)

Indico 2 will likely be needed to get us back to 20p (but indico 2 may also bring more enthusiasm (in the SP) for potential easy bolt on production.

What makes me unconcerned is this share was trading at 15p prior to N Sands duster, & just look at what has been acheived since then compared to the 14p current SP.

As far as im concerned the 2 year investment plan I mentally signed up to is still on course, no matter what the bots do inbetween now & then.

Plenty of time to build production, reserves & farm out pipe deals, all under improving/relatively stable oil prices just let them get on with it & yes another rig turning up would accelerate the whole process.

Well ill move it over from my S&S account where it has made substantial losses, to my ISA, so I barely care what value it is on 6th April.

In fact im finding a destinct lack of enthusiasm for the whole debacle atm..however let the bots feel they are ahead, it will be my time to choose when to sell & it sure aint at this price.

We are all trapped in this share (jail) by the shorter (jailer), who has firmly locked the door & reinforced the walls.

We arnt getting out until good news (parole/conviction quoshed) opens the door.

For now we can scream about injustice, bang on the walls, plan our escapes, dig our tunnels or commit suicide (sell).

But im choosing to accept my temporary fate & go enjoy spring in the prisoner garden (switch off computer), until someone informs the wardens (good news flow) of my improper incarceration.

"boom & bust these explore the edge stuff" - come on, you know better than that, it wasn't boom or bust and if anyone thinks that then you don't understand the business proposition or what happened, perhaps help explain the silly reaction. The partners simply misunderstood/interpreted the Seismic by the looks of it and wrt SP it is just an over-reaction.

Just to clarify I was pointing towards the effect on the Share Price rather than any larger 'Boom or Bust ' senario & whilst I do agree we shouldn't bin off permanently these edge areas, whilst we have only the one rig we need to prioritise.

My priority is steady Share Price growth, so a couple of sure thing production booster wells carn't be a bad place to start, before heading off to the outer edges again ?

I think most of us agree that the dire Share Price is as important an issue as any future development re the constant threat of takeover.

So I am hoping instead of trying to find the CPO5 field edges (higher chance of miss & SP decline) they bin this stategy short term & concentrate on pin cushioning finds to ramp up production & target more likely peaks (greater chance of slow steady SP rise)

It seems to boom & bust these explore the edge stuff, one for our future once the main prize is producing & the SP is out of the danger zone.

Fair enough, whoever is the seller is in control of the price & I agree they can take it where they wont.

But

Personally I aint selling at this low price & i'd rather wait for the takeover & see what they value the company at.

Well no chance im selling in the 13p/14p zone hardly a disaster of that epic a proportion.

Could do with moving a little from my S&S account to the ISA, ut im not feeling today will be the day for it lol.

I'll be honest, the threat of the cheap ass takeover has been hovering in my mind for a fair while now & the cash reserves figure helped massage that issue for me, in that all that cash could be used for share defense measures at a crunch.

The fact that 19million has gone into acreage (which will only pay out longterm) has only heightened my takeover concerns, we have just lost a defensive chunk.

If the next well comes in & more importantly the SP reflects it with a decent rise (that dosent get pulled back) then those fears will deminish, but otherwise defence of share price needs to be considered at all points going forward even at the expense of new opportunities.