onewayticket
22 Feb 2017
Re: Back Round the Table Then it might be best oilinvestor if you grace those bulletin boards with your infinite wisdom.There are very few oil shares around, that are sat on already proven resources and imho more to come (Block 26 for starters) and it has to be pointed out that are sat at a share price of 1/36th of a 380p plus high they were before the civil war in Syria.There are very good reasons why investors with far greater knowledge and pockets than you have been accumulating very large stakes in this company and assisting them with funding. (Richard Griffiths and companies)I'd be less myopic and more panoramic. With a lasting peace settlement will come the lifting of sanctions then its start the production flow of oil again and up we shall go. Slightest sniff of peace then I'd expect the same.You stick to day trading. I'm a pretty rational investor and GPX tucked into my ISA so happy to be patient. The bigger gains come with patience/Own due diligence
oilinvestor85
21 Feb 2017
Re: Back Round the Table The key word there is "crisis"!!! You don't need to do much of your own due diligence to know that this share is a tu.rd and if you're not invested it's probably best that you keep clear! There are so many London listed oilers that have good resources , with cash flow and don't need to "mortgage the entire company" for a £4 million loan. Best of all they are not operating in one of the worst war zones in human history,! DYOR
onewayticket
20 Feb 2017
Back Round the Table 23rd Feb hopefully.[link] due diligence
onewayticket
16 Feb 2017
Re: RNS: Funding Watch out for a farm in deal amidst any improving geo-politics.Own due diligence
onewayticket
16 Feb 2017
Re: RNS: Funding Funding was always going to be needed in Q2 if you've read the company literature and this is in my view represents a really good deal for Gulfsands. It now has access to £4 Million working capital for the next 12 to 15 months.The 7% interest rate, also in general terms (give or take the other clauses) is a good commercial rate and it is offered from an existing and supportive shareholder who through various companies owns a substantial holding. I've seen others pay 10% + in the bond markets (GKP) and I've seen others embark on other more dubious means of raising finance.I'm happy that Mr Griffiths and his companies as key shareholders will wish this company to succeed.Onwards to the next round of peace talks whereby the truce seems to be holding presently.I'm a firm believer that with peace will come a lifting of sanctions and then a substantial re-rate as production on that jewel in the crown - block 26 recommence. Actually 2 good RNS's in 2 days.Own due diligence.
Johandesilva
16 Feb 2017
Re: RNS: Funding My last post was inaccurate as the BOD don't hold much skin as I thought. The re-payment terms into shares seem fair though I am sure they will choose shares..."At the end of the three years Gulfsands has the option to repay any outstanding amount in cash or in shares at a price equal to the 90 day average closing price at the time of repayment or the lowest price at which the company raised cash during the three years – whichever is lower."
Johandesilva
16 Feb 2017
Re: RNS: Funding oilinvestor85They are all valuable points. The way I see it is that this money needs to be paid back as the BOD historic holdings and recent placing’s are at stake! The company may believe they are in for some cash (see historic payments) perhaps paid around a time sanctions are lifted especially with the Trump and Russia situation. For us this is highly speculative, but perhaps the BOD know more than us?If there was no confidence of this I am sure equity dilution would have happened around last placing... what was it 3.2p or similar. Existing holder at 10p+ would have been scroowed. The BOD and luck have saved those investors. Alternatively they could have dumped Morocco but they chose not to. There must must be some confidence in cash comming in.Alternatively if no cash comes in as you say this could go the way of the other Gulf. This is the highest risk reward "producer" in the world. With the other Gulf we had PI’s investing thousands without the knowledge of the risk (and their spouses). We know the risks so IMHO this is worth a tiny punt in a portfolio.
oilinvestor85
16 Feb 2017
Re: RNS: Funding How is it good ? They have as stated in the RNS "mortgaged the company's shares for £4 million"!!!!! It's a very good deal for the lenders though! They get 1% on anything undrawn! 7% / annum on anything drawn and get 10% on repayment before term! Having the cake and eating it ! This will end up going the same way as another company with gulf in its name!
Johandesilva
16 Feb 2017
RNS: Funding Good funding RNS designed because of the low share price. The BOD will want the SP to grow for the equity dilution in the next 12 months.Now a hold to a Week Buy.
Johandesilva
15 Feb 2017
RNS: Morocco extension! And a reduction in costs from $3.5million to $2.5million.[link] still need working capital this year but for now the short-term volatility of the stock is less predictable. I would like to retract any of my sell recommendations but GPX will need to raise a little bit of cash be it reduced and at a later point in the year. So this one is hard to call. Certainly won't be risking another punt for Syria Appeal so north to the last placing price.
rRomeo29
14 Feb 2017
Re: Seemingly a Success Onewayticket,I just hope that the company well being is not connected with the next Astana meeting!! And a little reward after one MONTH would also be neat.---------- -"If your here for a quick day trade rromeo then good luck to you."
Johandesilva
06 Feb 2017
Re: Big Oil "Retrace now down to about 9.20p. This 50-day support will probably hold for now. If this is ever breached, then retrace down to about 6.10p."I can see fund raising before July at a guestimate around 7p so that sounds about right?Currently GPX share price is an dilution adjusted 40p in comparison to 2014's share price of 49p.Given the risks I am happy to wait as I don't want to miss out on the current bull run in oil right now by investing in GPX
Johandesilva
06 Feb 2017
Re: Big Oil "...AIM for super major takeover demanding large assets and low cost of extraction. It is not in some war-torn region, it is in UK waters right next to BP infrastructure and you will be kicking yourself for not caring about it by the end of the year."--OK so this prediction made on Saturday almost came through this morning IAE had a takeover bid this morning for 120p. I actually meant another North Sea oil company HUR would get taken over. Buy HUR now before it gets to 100p quite easily this year.As for GPX I would be happy to do a charity trade at 6p for a small amount.
rRomeo29
06 Feb 2017
Re: Big Oil Quite a nasty retrace now since the smalltraders hype ended! Well said Johan. Actually this is a big smack in the face of some investors who were building their hopes on the Assad terror regime. But DYOR amongst the peace talk experts on lse-uk...Retrace now down to about 9.20p. This 50-day support will probably hold for now. If this is ever breached, then retrace down to about 6.10p.Looks like russian negotiators haven't been able to trap the Syrian opposition (called "terrorists"
with li es and promises.
onewayticket
05 Feb 2017
Re: Big Oil We'll see Johan. I just don't like paying twenties when I can pay ten.I've openly said I'm happy to sit patiently on this one for far bigger multiples.Own due diligence
