Member Info for wwal17

Those multiple 100,000 sells…forward selling?

So in layman’s Doug, everything is geared around the bond holders getting as bigger share of the pie as possible as the PIs get shafted…

“Let’s just hope we get the JV sooner than later. Or we get significant uplift and return on production.”

Uplift in production doesn’t help with our working capital issue does it as it will have to go to senior lender?

All these bonds etc and separate entities just cause confusion…especially for us unsophisticated!

How much dilution you thinking ITD?

“so its a Bond debt not an equity raise, however since Art CRAASHED the SP they are probably having to do some serious renegotiation with the BH to make the clear increased risk worth it for the BH. so strike price is likely to be a lot lower than 7p plus more cheap warrants.“

Is Trader coplnobber?

Current market cap 20 million so if lender is prepared to lend us 2 million at 7p odd to cover us short term, that’s an extra 27 million shares added, would that be correct or is it more complex?

If JV doesn’t come before March, what do we think short term options look like in terms of bond/placing, are we expecting significant dilution?

“ every shareholder actually expects this to happen yesterday.”

Not the case but I get the sentiment. Been here over 2 years, more than ever, I get the feeling we will have a better understanding about direction of travel in the coming weeks, it’s about time it’s north!

I think I will be adding Sid, some money coming my way next week…so Art if you’re reading, can you hold off the MEGA RNA until middle of next week please? Cheers mate!

I enjoy these discussions and sharing views, it’s so much more refreshing than the drivel from the scalpers.

The only real dilemma left for me at this stage is do I add even more to my over leveraged pot!

Evening Illusion, there’s no doubting the value of the asset, it’s the being overstretched that has caused a lot of shareholder frustration. Seeing the SP at 7p is downright depressing for investors who piled in 30p plus on the back of what Art told them, god only knows how Bolton and the like feel. Yes we all pays our money and takes our chance but Art can only go back to the well so many times, otherwise we’re all just “averaging down” for averaging down sake.

I always appreciate your posts Illusion and for what it’s worth, I still hope and believe we will do well. Your post is a positive one as usual but on this occasion you seem to absolve AM of any justified criticism, like he can or has done no wrong. Let’s be honest here, his job is to add shareholder value, up to now, there has been none, certainly those who invested for the (failed) Nigeria project. There’s no doubt he is a great deal maker, however this big discovery was stumbled on by chance and we have yet to see any value so far. That no doubt can all change in an instant but I don’t buy the whole white knight label, the seeing is believing.

Can somebody ask Devilbhoy why he is here, he never responds to my questions?

I’d like to think this share reflects the bluff in poker analogy. Arthur knows he’s sitting on a Royal Flush but is hemming and hawing to entice all the other players to maximise the pot.

Investing or trading shares I’ve found is quite an emotive subject for a lot of people. Whether that’s down to putting in more than you can afford, inflated hopes of wealth or simply winning and losing. In no way can you condone “death threats” and the like but this is all easily rectified by putting in place a comms team. AM needs to concentrate on being a CEO rather than getting into spats with PIs, leave that to comms guy.

@Devilbhoy you you a target price, you don’t sound very optimistic?

Exxon Mobil JV with little old COPL, seeing that in print will be a sight to behold, the word transformational is banded about far too easily but in this case, it is truly apt.

Be interesting to see how flexible the senior credit facilitator is this late in the day. Would have like this to have been tied up before that RNA last week. Very poor on managements part…or was it all done by design…probably. #everyonewantsbiggersliceofthepie

Any thoughts on how he will raise? I know he said discussions are ongoing with senior lender.
Bonds (don’t we have enough?)
Premium raise maybe (wishful thinking)
Golden handshake from JV partner (ideal)

It’s a shame the senior loan facility doesn’t allow our restructured hedge to help us out, not very flexible.

Thanks for pulling him up on Twitter. He’s now squirmed, backtracked and sounds like a politician trying to get out of his initial statement. Disingenuous troll.