Offshore Hydrocarbon Mapping Share Discussion Threads

[gwr7] 03/11/2009 17:42

Yeah, it's a waste of their time (and yours).

[bones30] 03/11/2009 16:40

Don't personally see the point ringing the company. Not as though they'd be allowed to tell anyone anything price-sensitive anyway...

[5magic] 03/11/2009 16:19

ri

company not taking questions earlier in the week (too busy they say), but defer you to but refer you to peter reilly of aquila financial

give him a ring if you want - its good fun if nothing else lol

[risk investor] 03/11/2009 14:59

was going to average down..

but will leave it..

spread too wide..
hardly any volume and most important no news.

[bones30] 03/11/2009 14:58

Interesting to see they are recruiting:



Does that say going bust to you?

[risk investor] 03/11/2009 14:45

anyone spoke to the company lately?

[bones30] 03/11/2009 14:16

hey at least we have some posters today! i was getting rather lonely.

[bones30] 03/11/2009 14:15

ALCATRAZ: make sure you re-post this post stating I am holding with steel balls back to me too in 6 months. ;-)

[jailbird] 03/11/2009 14:13

beat to it troutisout

[alcatraz10] 03/11/2009 14:12

well i am happy buying. call me anything you like but remember this post in 6 months time and post it back to me.

[jailbird] 03/11/2009 14:12

bones,

"Why on earth are they not averaging down?"


they probably will via the next placing.

Can we not all see that the cash burn is in black and white.
and the cash balance will not last long.

[troutisout] 03/11/2009 14:08

I can't say I am right, but I will hold on for more than this and maybe will add later to average down myself :o(

[bones30] 03/11/2009 14:06

Trout - if what you say is right, and I'm hoping it is. Then the bounce, if a contract is annouced could be very significant indeed.

Trout - good point indeed in your most recent post. Perhaps they are arranging a placing at a lower price to average down.

I can't believe they moved it down 0.5p on a £1000 sell the other day. Unbelieveable. This adds merit to the argument this could be just being "played"

[troutisout] 03/11/2009 14:06

bones,
What volume do you reckon they can buy? With the 2 MMs and the wide spread which moves hugely on £1000 trades what chance have they of getting enough stock to average down.at all. Many of these Institutions won't want to be mucking about trying to buy stock in paltry amounts in the marketplace, that is why they like placings they can get a larger amount.

Trout.

[deanroberthunt] 03/11/2009 14:04

isn't AIM brilliant

aka Advanced Insolvency Mechanism...or simplified FRAUDS R US

[bones30] 03/11/2009 13:59

> If the company were going to do another placing do you not think those investors in the last placing that paid 21.5p would be a little annoyed?


Why on earth are they not averaging down?

[loverat] 03/11/2009 13:57

Troutisout

Sounds a reasonable alternative theory. Whatever the truth I've not seen something like this before.

[deanroberthunt] 03/11/2009 13:56

peeps that took 12m shares at 21.5p....cost approx £2.58m, are now showing a loss in the order of £2m....not bad for a few weeks work.

[troutisout] 03/11/2009 13:52

Not sure it smells of anything other than someone sold 60k shares and the MMs marked the price down to let them out. At the moment the spread is wide open and the 2 MMs are making money by keeping it this way.

If the company were going to do another placing do you not think those investors in the last placing that paid 21.5p would be a little annoyed?
I could see them wanting to average down a little and another placing may well be on the cards further down the line and that would allow them to. Seatrans took shares at 21.5p to renegotiate their charter deal, how happy would they be to see a placing so soon after the other one?

I personally think the drop is partly due to only having 2 MMs and the drop in price since 16p which has led to more and more baling out as the price drops further (a look at the volume shows it is minimal.

Trout.

[loverat] 03/11/2009 13:52

My word - looks awful. Not long back everyone was waiting for 22p.

Next thing we'll have Cawkwell coming along with -

'Gentlemen - this is bust' and we'll be down to 3p.

What a bunch of crooks who run these markets.

Still, interesting all the same.

[deanroberthunt] 03/11/2009 13:49

the 21.5p placing was now in hindsight a smokescreen for what is amount to transpire.

[lord santafe] 03/11/2009 13:48

This is now cheaper than the before news of the placing, so I am confident that now is the right time to buy.

[deanroberthunt] 03/11/2009 13:43

someone on here did mention specifically that this was coming...aye, smells like a second placing at what price though??? 5p looks on the cards.

[jailbird] 03/11/2009 13:17

bones et robson,

fund raising coming i reckon now.

Has to be..should hve expected sooner, even the recent fund raising of £2.6M + 0.8m left before was not gonna last long with 360k/mth burn rate.

8 mths or so...raising cash needs to be done at least 6 mths in advance and not last minute.


Robson,

no point in having the RSI if the the whole compnay is loss-making and burning more cash then what is bringing in.

The product is only worth something if it sells more than than it costs ..you know that better than anyone