Member Info for Zebra04

Any ideas why the mm's selling closer to the bid than ask? Why sell at 4.19 instead of 4.4?

The real spread is tiny and all trades are appearing as sells because they are closer to the bid.

@chancers, ah so management did purchase some of the placing shares. Thats great to know.

Why not mention that in the Friday rns. Paul is naive when comes to updating the market.

Onwards and upwards from here. The stars are finally aligning for us lths.

Once the placing is offfical and the shares hit the market. So 28th Feb.
Tempted to top up at these prices. £5k gets you 120k shares.

Around 12-15p before drilling results from morroco. 24-30mil mcap. Results from trinidad will help reach that price target Imo.

Hi bamps,

"the project is made viable by allowing for historical Fram losses against spt" if prd purchases fram the tax breaks will be passed onto us as they were to cerp.

I thought prd funded the costs of the co2 for the pilot, where did you get cerp funded the co2?

In your scenario where cerp is funding the co2, underground works, rig and crew. Its still beneficial to them at 50%. If we purchase fram we get 100% of the profits.

"I doubt very much that Cerp will allow theirs to go in that sell they are like gold dust on Trinidad." That's not up to cerp. If we want to buy they're obligated to sell.

Simply put there's no good reason for us to share the pie if the project is successful.

In your mind it may be a struggle but its no reason to give away 50% of profits. Looking at cerps historical performance, the sooner we disassociate the better.

@chesh yes we are working with cerp during the pilot.

What I mean is once the pilot is completed, It makes sense to stick to our original plan to purchase fram and move on from cerp.

I don't see why cerp has to be involved in future co2 projects?

We planned the co2 project before cerp had purchased the old owner of fram. (steel drum oil company).

Once it's a success we should purchase fram from cerp and go our separate ways. We get it for pennies per barrel.

With the knowledge prd and massy have acquired from the pilot. We can continue with our exclusive partnership as we have all the surplus co2.

We are the ones with the highly experienced geologists running the company. They are the ones along with massy who have planned and executed the pilot.

With morroco fully funded, I think the question is what's in it for prd sticking with cerp?

Like another poster said, our cln (only debt) is now covered by the returnable Bank guarantee. Many investors hoped the returnable bank guarantee would be used to pay off the lender and end the conversions.

At 4p when the new shares hit the market we will be at 8m mcap. If we get back to 12 thats still only a 24m mcap.

The run up this time should be easier. At present we have continuous co2 injection, morroco fully funded and booked in and the cln taken care of.

If the pilot is a success then its a possibility. Heritage also owns plenty of mature fields where the process could be replicated. Paul has not disclosed who we have entered into agreement with only that they're owners of a producing field nearby.

@mm Yes I understand the new share holders wont be able to sell the shares on the market until the 28th. That's not my question.

When I say the shares have already been sold I mean from the brokers to the new share holders. The placing still has conditions before the shares are approved and come to market.

I am just curious to know how we were able to raise 3.5million quietly and from who.

@bob that is what I thought. The shares have already been sold. Aimofthegame claimed the placing shares have not been sold yet. Hence the confusion.

I'm interested to know who has purchased the shares. If its institutional investors it will give us stability and they're unlikely to flip at 5/6p. Bod could also have subscribed to shares. We'll know when the shares hit the market

Widely speculative but could it be shroders from cerp? Someone's pumped in 3.5million They've reduced their holding there and would like to focus more on greener projects. Our bod are also pushing the green agenda.
They may have liked what they saw and decided to jump ship.

ok can you direct me to where I can subscribe for the placing shares?

The placing was oversubscribed and retail investors didn't have a chance to purchase. They can only know if it was if they offered it to someone. So was it a private offering to institutional investors? Paul says he would like to thank NEW and existing share holders. I'm guessing the negotiations started when we were at 6p and the price was discounted to 4p.

It says the completion of the placing depends on a prospectus being published and the placing shares being listed on the stock exchange on/before 28th feb. nothing about actually being able to sell the shares.

As i understand from the RNS the shares have already been sold and will hit the market on the 28th. 200mil shares at 4p will give us a 8million Mcap.

Once the shares hit the market we will know if we have new large holders.

Does anybody know if the placing shares have already been sold? The Rns says it was oversubscribed.

@heartstrader There's 60k shares at 5.2 then it's up to 5.5 with 60k shares. I was also able to get dummy quotes for my 280k shares at 4.8

Looks like someone reported my post and it was deleted. I provided level 2 info in the morning.

@mrmm have you not been here long?. The plan was always to give away equity in individual projects to help fund them, as opposed to an equity raise on the market.

We own 75% of the morrocon license, we can give away some equity in the license to get someone else to fund the drill. Diluting individual projects is much better than diluting the overall company and shareholders.

When it comes to purchasing fram, if that were to happen then the co2 project has been a success. The 4million required can be paid in installments over a period of time as revenues bump up from co2. The 1million released from morroco can also go towards purchasing fram.

We're 2 years post ipo, with only 7% dilution

Yes chancers

Not much on lvl 2. 30k shares either way to move the bid/ask.

Mm's are happy to take this down and accumulate shares. They're dropping it on small volume and are potentially taking out people's stop losses. If the price is falling and you are not able to sell then you should be concerned. Since this fall I've had no problem getting quotes for my 280k shares. @heartstrader I'm sure it the same for you?

Mm's use investor sentiment to thier own advantage. That's all this is. I've been here a long time and this moves both ways quickly on miniscule volume.

I was surprised to get a response from the company as I know a few here have not had any reply. Carl provided a detailed reassuring reply. Not sure what I can post here out of respect to him/confidentiality.

In his own words "You should not read anything negative in terms of the option on the rig as the rig is drilling for SDX Energy until at least mid-March/late March."

He was also bullish on Trinidad and the sustainability angle. "You will realise in the coming weeks and months that this will become increasingly important in our sector and we will be better positioned than many other small caps to capture the changing investor sentiment"

He along with the rest of the board are vastly experienced in this sector. They remain calm and so should we be.

I sent a email to the company last Friday enquiring about the morroco rig. I recieved a response from Karl Kindinger.
Morroco plans and schedule have not changed, sdx is using the drill till mid/end of march then it straight over to us. He advised personal investors should be patient a little longer.

Mr mm it isn't so bad. We've missed a deadline and mm's have used it to drop the price following two large sells. They are happy to buy large sells at these prices. An update from Paul could've prevented it.

@hulltiger it should take a a month to represeaurise the well and then I guess we should get some results shortly after.

Regarding morroco, sdx rns states that their drilling campaign will be completed in March. So we are still on track I guess to start drilling end of march to April, as previously guided. That is more than enough time to negotiate the rig contract. I'm guessing there is no urgency on either side. Star valley is busy with sdx's successful campaign and we are busy with Trinidad. So negotiations have likely been mutually extended.