Member Info for Yanis2005

HITS, you are missing the POINT.

The point is that GL said that he will pay the loan off by year end … then he goes and raises via dilution £6 million.

Doesn’t add up - you get the drift?

BV, someone else is mopping them up but the SP is dropping!

HITS, whether the site track performs or not is irrelevant.

What matters is what GL believes - and he believes that he will pay the loan off by year end - if you get my drift?

Another worrying development - the number of MMs sitting at the ASK increased to 2 just before the bell.

These two are JBER and MREX who have always been at the ASK (at least one of them) over the last 2 or 3 weeks (maybe longer). This means the sells will continue IMO.

BV, the raise of £6 mil is via the issue of 546 million shares. The existing authority to issue shares does not cover this, is 273 million short, hence the EGM.

Baits, you are missing the point - we are supposed (according top GL’s interview a few weeks ago) to be able to pay the £12 mil loan off by the end of this year (i.e. in the next 7 months)

Why heavily dilute the shareholders with another 546 million shares to raise £6 mil … and also do that at a heavy discount … place at 1.09p when the average SP over the last couple of months is around 1.35p?

Raise £6mil when he is expecting to make £12 mil within the next 7 months to pay the loan off + more?

Foxtail, brokers got 5 mil. That is the only one shown in the RNS.

Tygra, that is my concern and the reason this threat is titled “Deja vu?”. It worries me of a repeat of the events leading to Brockham disaster - we had a substantial placing at 4.25p and the SP went right though that down to 1p. I hope this time is different.

Baits, they are paying £250k in cash, 91 mil shares @ 1.09p, 546 mil shares at 1.20p, & £6.25 mil from gas sales - £14 mil for SEL’s 49% interest.

On top of that they are issuing another 546 million shares to raise £6 mil - Why? If the gas proceeds will be enough to past off the original £12 mil loan by year end?

Tygra, the £6 mil placing (heavily dilutive) in view of the “soon to be gas revenues” that will pay off a £12 mil loan by year end makes zero sense to me and is worrying.

Actually, this is a significant point - we were told that the £12 mil Saltfleetby funding loan will be paid off by gas proceeds by year end.

Why raise another £6 mil by significant float dilution?

Now that we had a bit more time to digest yesterday’s RNS …

Now that we had a bait more time to digest yesterday’s RNS.

Is there a logical explanation for the £6 mil raise on top of the £14 mil SEL’s 41% interest purchase?

Why raise £6 mil?

We were told that the £12 mil SFB loan WILL be paid off by year end. WHY raise £6 mil via share issue?

SillyButtons, you guessed right, I am in my late 60s. I hope you do not repeat my mistakes here and make some money towards your mortgage. I wish you luck. One thing, as Oktane said earlier, adding to winners is overall more profitable than adding to losers (averaging down).

BV, mate, you should be able to discuss freely.

Discussion based on facts is healthy. That is why I am here. If this was a pure cheerleading board I would not be here. I believe that no matter what we say here does not affect the SP.

Discussion is healthy, and today HITS helped me understand fully yesterday’s share issue. I now have a better understanding as to why the SP is stuck at this pitiful level.

My patience with Angus has continually been tested over the last 5 years. Is finally running out. Every time we attempt to take off and break above 1.5p we get knocked back. We get knocked back by a share issue.

I am sure you can understand my frustration over my £100k been trapped here. We are at a time when the SP should have been well above 2p … and is not, is sitting at 1p and is under pressure to drop lower.

You call it weakness, I call it been a realist. The facts as they appear are nothing to cheer about right now.

SillyButtons, has been very frustrating hasn’t it?

Over the last 3 years we got up to 1.5p about 4 times, each time to be knocked back by a placing. Fundamentals or not, I got serious doubts now as to whether we will actually see anything higher than 1.55p.

Been in this for over 5 years, got £100k in, and currently loosing £40k. As I posted below, I am now giving it until the end of next month, if the SP is not above 1.55p by then I will clear out, crystallise my losses.

SelfishMcNimby, I don’t think that what GP highlighted is a negative. Flared gas is lost revenue. I don’t know if they are considering at least gas to wire, anybody knows?

BV, I admire your bullishness but right now all we see is sells and downward pressure on the SP. The chart, following the news over the last two days changed from VERY bullish to bearish and the SP is now more likely to move down rather than up - these are the facts spoken by the market.

20 mil @ 1.05p sell. Just realised that this is below placing price of 1.09p … somebody else selling?

BV, there is a lot of confetti atm … there is another 20 mil trade at 1.05p. A lot more than 91 mil shares have already been sold.

Oktane, I wish you luck mate. Hope the property sale goes well. I know you will do well in the markets, you sound seasoned. :)

You see, unlike you, when the SP dropped from 21 something to 17 something … I averaged down and that was my mistake. Got worse and worse after that.