Member Info for woodfromthetrees

Cash burn is going up all the time with al these new team members.The amount of ramping going on on twitter and Justins podcasts is getting a little ahead of itself.Guess is £3-5m raise at 10p nice round numbers.

They Raised £3.5m at IPO,£700k when on listing costs and all associated costs gives £2.8m remaining.Listed for 3 months.Cash at year end = £2.1m

Thats £700k burnt through in 3 months

Current cash projected £1.4m

Theyre going to need to raise again in next 4 months, question is when.I'm sure brokers will be keen to capitalize on this fabricated hype.Its done 300% in a few months.

my calculations suggest they'll need to raise soon.

10p a guess

From what I can see,that's fair value here.£3m cash in bank and an array of 3rd rate assets.How much skin in the game do directors have here and what salary are they on?Thanks in advance

Disgusting.

Zorbas and Hogan two of the most corrupt on AIM and that's saying something! Karma will come their way soon enough.Just how bad they have been at covering their tracks on this latest scam shows they are getting desperate.Sadly for them they have been routed out like rats.

Be careful. This article just about sums up this business.

"Management supporters keep on asking why shares in this company appear so cheap. Well it depends how you define cheap. If you look only at earnings per share then you might say Management is cheap but only a moron would do that.
The recent interims showed a company with NEGATIVE net current assets of $17.4 million and additional liabilities (largely loans) due in more than 12 months of another $5 million. While the company reported a profit before and after tax of $3.5 million and $2.644 million ( those earnings), the amount of cash generated from operations was materially less than capex ( which appears non discretionary, i.e. has to be maintained to keep plant moving) and (small) loan repayments. So this is a business burning cash and drowning in debts. It can only keep going by a) using incredibly expensive last resort invoice discounting debt facilities, always a red flag, and b) by stiffing suppliers by paying bills in a less than prompt fashion.
So a crap business, drowning in debt, burning cash, does all share transaction on a crazy valuation with blokes operating in an utterly opaque fashion. What is not to like?"

Link: https://shar.es/amkmvJ

When supposed growing profits are not converted in to actual cash then you start to smell a rat

we all know the FCA will do 0.The story should be made public by giving it to BBC press or even a TV show like Watchdog or similar to investigate.There is a story here that needs exposing to stop scammers doing this in the future.They have cost shareholders millions yet drive around in £100k range rovers living the high life.

This deal simply should not be tolerated.Such a blatant scam by known scam artists.

First port of call for shareholders here is to speak to the Nomad:

Arden Partners plc (NOMAD & Broker):

Tom Price
Alex Penney
Maria Gomez de Olea

+44 (0) 20 37614 5900

Contact these people as they are also accountable for signing this scam deal off.

"it is expected that the Group will be able to continue to fund its general and administrative costs for approximately one to two months, in the absence of access to additional capital or a further reduction of general and administrative costs in the interim. To mitigate this risk, the Corporation has been in discussions with certain shareholders and other organisations to obtain funding to meet ongoing obligations"

= Placing.

"In order to fund future capital, general, administrative and other expenditures, the Group will need to obtain additional capital through... equity financing,"

Equity financing = Placing.

Well there you have it in black and white folks.

Placing imminent.

Lets get this straight,nothing has advanced at all as all the contracts are "non binding" you'll notice. This is Nigeria they are dealing with.Its purely more jam tomorrow to deceive holders and spin enough bs to get another placing away for yet another year of admin/fat salaries to buy pies with.Amazing this is about 100 times now of the same tactic yet people still fool for it.I will bet my house on a placing coming in the next month.You were warned.

Arthur doing the rounds, todays results confirm they need cash and quickly.Id guess 0.1p placing with more Jam tomorrow BS attached to get places to cough up.
Been about 100 false dawns here.

£1m in cash 3 months ago,with cash burn here at $4m pa it means they'll be raising imminently.

Looks likely this will suspend.

while liquidity is there.The usual suspects are ramping this to the greater fool whilst selling for profit leaving the usual herd followers/muppets holding the baby.Don't be the muppet, let them be.Placing is incoming.Nigeria O&G is dead, this company is dead.

United Oil & Gas PLC CEO, Brian Larkin, said: "The Colter Appraisal campaign has delivered a new discovery and significantly increased our understanding of the Colter prospect. While we are obviously delighted by the discovery of Colter South, which with an estimated mean recoverable volume of 15 mmbbls is an exciting discovery and appears to have exceeded our pre-drill requirements for commerciality, Colter North has not delivered in the way that we would have hoped. However, even this latest result has delivered some interesting additional data which points to further targets and prospectivity within the licence area.
"We will continue to work with the partners to evaluate the best way of commercialising the licence and the considerable data we have acquired during this campaign will help the partners decide on their next steps.

United Oil & Gas PLC CEO, Brian Larkin, said: "The Colter Appraisal campaign has delivered a new discovery and significantly increased our understanding of the Colter prospect. While we are obviously delighted by the discovery of Colter South, which with an estimated mean recoverable volume of 15 mmbbls is an exciting discovery and appears to have exceeded our pre-drill requirements for commerciality, Colter North has not delivered in the way that we would have hoped. However, even this latest result has delivered some interesting additional data which points to further targets and prospectivity within the licence area.
"We will continue to work with the partners to evaluate the best way of commercialising the licence and the considerable data we have acquired during this campaign will help the partners decide on their next steps.

So thats where this will fall on a full non commercial result.
Whoever is buying now,WTF

Its not 50/50, well publicised COS of 25% so those are your odds.Still a chance there but it is in no way evens.GL

No they are to release news on the primary target as thats what they stated they are now drilling.they can release no oil shows in primary or sub commercial and still then continue deeper.The absolutely have had time to reach TD though for reason stated previously especially if no oil shows.if oil shows normally takes longer.you can assume whatever way you want from anything at the end of the day but id say try not to be delusional.