So here we are once again considering the merits of a bucket of highly avoidable oily sector investments I heaved into a bucket this time last year, uninfluenced by free pork pies or site visits. The 2021 Vomit list. After chucking up 9 out of 10 winners in its inaugural 2020 list, what has 2021 thrown up? Perhaps none given the rising oil price? Don’t be silly – “Lying” Steve Sanderson would never let me down!
This is like shooting fish in a barrel. It is such a slam dunk and so easy that my cat could spot it. And best off, SP Angel the fraudster’s favourite Nomad has signed off on the lie. This morning, Mosman Oil & Gas (MSMN) has announced in a semi-literate release drafted by Justine James of Alma PR:
With the 2020 Vomit list throwing up 9 out of 10 sick investments, it’s time to think about next year. The oil price is looking to be on the upwards trajectory, and hence any company really needs to be a standout monument to investment stupidity to be considered for entry to this year’s bucket list.
After a rolling year of oil price movements, I find myself once again sat next to the fire at Christmas time cogitating oil company performance and prospects. Having suggested I would rather hold a bucket of Vomit than some oil shares this time last year, it’s time to review just how much money I did not lose. Yep it’s time to project the 2020 Vomit list awards to the deserving winners.
I speak as a type 2 diabetes sufferer – today’s Covid ramp from Vela (VELA) is total bollocks. I also cover stinky share dumping by the Trainline (TRN) bird, Petra Diamonds (PDL), where I am vindicated again but not holding my breath for BBMs to apologise, Wishbone Gold (WSBN), Panthera Resources (PAT) and POS Mosman Oil & Gas (MSMN) – now in the Minus 99% club. Time for boardroom bonuses all round I reckon, as it places again.
First up I again mention booking your MineProphets tickets for July 18. I hope to have more news on speakers shortly but book ahead HERE. secondly my local MP, understandably, hates me and is not very bright so may not act on my Versarien (VRS) letter so I beg you to send one to your MP. Then I discuss Tomco (TOM), its news today and how clever I am before tackling Mosman (MSMN), as it tries a multi-currency turd polish.
I start with the economic mess the Government has landed us all in. Will 25% of small businesses go bust or just 13% and who is going to pick up the tab? Then it is onto Purplebricks (PURP), Tern (TERN), Mosman (MSMN) and Bidstack (BIDS) where time is almost up, the Fat Lady is surely gargling now.
Yes, the Mrs and Joshua broke lockdown to go see the mother-in-law. Naturally I was keen to join them but gave two reasons why I could not. On that matter the Government has no strategy that works for ending the chaos it created. It is a shambles. I explain what all the fuss is about at Fox Marble (FOX) - you can see for yourself HERE. Then look at San Leon (SLE), Kefi (KEFI), Mosman (MSMN) and Bidstack (BIDS). The moral of the tale, swot up on your show videos tonight HERE.
I don’t need to spell out to any reader of my recent articles on the oil price and specific oil companies, that I’m finding it difficult to see any good investments in the small cap oily space currently. Having written my Vomit list of crap oil shares at Christmas, I thought Easter would be a good time to undertake an interim review.
I start with the markets, coronavirus, hapless Donald Trump and other matters. It is all a mess. Some folks are really hurting and I explain how this can affect you. Then I look at Cineworld (CINE), Mosman Oil & Gas (MSMN), Nostra Terra Oil & Gas (NTOG), Big Dish (DISH), NMC Health (NMC), Finablr (FIN) and Metro Bank (MTRO)
I have been contacted by an elderly academic who has written up the events of Virginia Woolf's 1932 tour of Greece. She claims to have been in Delphi when they discovered the body of my great Uncle David Cochrane. I rather doubt it and discuss this a) because it fascinates me and b) to annoy No Gold. Then it is onto Predator Oil & Gas (PRD) - is it placing ahoy? Versarien (FRAUD), Eurasia (EUA), Ascent Resources (AST), Sound Energy (SOU) and James "Dracula" Parsons and finally uber dog Mosman (MSMN).
I have commented over the last 6 months about my crap quartet of oilers – the “special ones” - a group of losers not winners in my view. To follow the tradition of other oily commentators I am going to expand and re-name my Crap Quartet, as the Vomit List. I would rather hold a bucket of puke than shares in these companies.
Updated: The rumour is SVS Securities is shutting for business. Is this the end for broker to esteemed enterprises such as Westminster Group (WSG) and Mosman Oil & Gas (MSMN) and another sign of how tough things are developing for brokers at the lower end of AIM? Certainly, calling the company has not seen anyone pick up the phone to us...er yes: all staff were asked to leave the building at 11 AM. Expect a forman announcement on Monday. So much for the FCA keeping investors informed...
One of my first material engagements with ShareProphets was occasioned by Mosman Oil and Gas (MSMN) back in 2016. Tom Winnifrith reported on a letter sent to the FCA about Mosman telling porkies about contingent resources Mosman did not have - the company had no choice but to fess up as Tom noted here. Yep – I wrote that letter. I monitor what I call my Crap Quartet of stellar oily investment cases and Mosman is a cornerstone member by clear merit.
I start with a tale from my early career and then cover Mosman Oil & Gas (MSMN) - the two are related - Iofina (IOF), Portmerion (PMP) and its profits warning, but is it a buy? And finally I look at Audioboom (BOOM) and worry that another placing will be needed soon. Finally, we are over £20,000 now but most bearcast readers are yet to donate to Rogue Bloggers for Woodlarks, If you have donated I thank you. If not, please go HERE TODAY
In today's bearcast I cover Optibiotix (OPTI), Vela (VELA), Woodford Patient Capital trust (WPCT), Ascent Resources (AST), Mosman Oil & Gas (MSMN), Management Resource Solutions (MRS), Bidstack (BIDS) and Optiva/Novum and a hot City rumour. Also I have a message for 90% of listeners - please be a hero today, my 21 mile training walk for this weekend has been planned so donate to Rogue Bloggers for Woodlarks HERE
The City's No 1 Oil analyst, Zac "the knife" Phillips of SP Angel spares no-one, except corporate clients like Mosman (MSMN) when he is ordered by evil John Meyer to write shite or get the sack. Luckily Hardy Oil & Gas (HDY) is not a corporate and thus The Knife is at his poisonous best. He opines...
In today's podcast I look again at yellow journalism re Woodford Patient Capital Trust (WPCT) as covered HERE and the MySquar (MYSQ) fraud. The corrupt deadwood press is part of the problem not the solution. I cover the latest news from MySquar in case I don't have time for a dedicated article. Today is a Joshua day but I hope to write as he takes a nap. I also look at Mirriad (MIRI), Mosman Oil & Gas (MSMN) anmd Haydale Graphene (HAYD) whose news today means that Nigel Somerville will have enjoyed ouzo on his breakflast cornflakes.
I am now fully recovered from yesterday's 27 mile training trek in the 30 degree heat - something I describe in full HERE. If you don't like me or the Israeli army or Versarien (VRS) and enjoy my suffering please donate to the Woodlarks charity walk on July 28 - we are now just £31 from 50% of our target fund raise. Be generous HERE. On the podcast today I look at Versarien, UK Oil & Gas (UKOG) where Lucian Miers is taking one hell of a beating from big Dave Lenigas, MySquar (FRAUD) - 7 days to courtroom drama - 88 Energy (88E) - you were warned - Mosman (MSMN) and Frontera (FRR). I also look at new leverage limits on spread betting coming in on 29 July and what that means in nanny state Europe and the UK.
In today's bearcast I express my sympathies to poor Zac for the job he has to do as an analyst writing about corporate clients. I refer to uber dog Mosman Oil & Gas(MSMN). I also look at Andalas (ADL) - the worst oil stock on AIM and which is STILL not answering valid questions as its shares collapse again. I look at Akers Biosciences (AKR) and, in detail, at IDOX (IDOX). Finally...97% of bearcast listeners have NOT yet sponsored myself and Brokerman Dan for our 30 mile Woodlarks walk. If you enjoy bearcast I am sure you can spare a tenner so donate HERE - to those who have donated I say thank you.
Interrupted by a vomiting cat and by Amazon delivery men this is my third stab at a podcast today. In it I cover FlowGroup (FLOW), Avanti Communications (AVN) and Inmarsat (ISAT), BCA Marketplace (BCA), the crock of shit that is Mosman Oil & Gas (MSMN) and Pantheon Resources (PANR), also a crock. And I revisit Air Partner (AIR) which is still not answering a key question. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
Bad language alert. No I am not referring to Mrs Stacey. I would not dare but to Feedback (FDBK) which has done a placing today but another one is needed soon. I look at Mosman (MSMN) which has had terrible results and imagine the conversations round at SP Angel as poor Zac Phillips is forced to pen another buy note on this POS. I look at results from UK Oil & Gas (UKOG), the RedX (REDX) disaster, RM2 (RM2) and Conviviality (CVR). I really enjoyed today's podcast and - conceitedly - think it is rather a good one.
What a great day. Telit (TCM) is under investigation by the FCA and Eqtec (ETQ) has really screwed up although why can't its PRs tell the truth for once and admit that its change of strategy was because I caught them all with their pants down and exposed them? This scandal begs real questions of Nomad Northland - hey chaps have you handed back the £75,000 yet? I also look at Optibiotix (OPTI) where last week's share purchase looks all the more prescient after news today. I look at Mosman Oil & Gas (MSMN) which is a dog whatever Zac Phillips is paid to say. I comment on Quartix (QTX) - insider dealing or bad luck? I comment on cash strapped SalVarx (SALV) - time for Jim Mellon to get his wallet out again methinks. And I look at Quadrise (QFI) where a placing looks inevitable after today's debacle. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
Sorry, but I have Oxfam on my mind. Seeing the downfall of these virtue signallers who I have long despised is hugely entertaining. However there is a link, this is not a contrived headline. In this podcast I discuss Mayan Energy (MYN), Andalas (ADL)(, Mosman Oil & Gas (MSMN) and The People's Operator (TPOP)
Two days ago Mosman Oil & Gas (MSMN) , share price at peak ramp 44p, put out its latest meaningless RNS. But it was the pump and I am afraid to say that the City's No 1 oil analyst Zac Phillips and his colleagues at SP Angel played their part....
Today's bearcast is again recorded with a snoring Joshua but luckily my bad language did not wake him although it is still a bit distracting having an audience. On the agenda: Mosman Oil & Gas (MSMN), Amur Minerals (AMC), UK Oil & Gas (UKOG), Reach4Entertainment (R4E) - shares in which I own though I feel well abused for being so loyal - and finally Servision (SEV) where I told y'all but of course the Bulletin Board Morons knew better. They always do.
WARNING: THis podcast contains some bad language. In terms of the liar, James Longley I am talking about you though I sedem to have mixed you up with your partner in crime Charles Tatnall in the podcast. Though you two have a stable of dogs on the market including Papillion, Starnger and Plutus Powergen it is Fandango Holdings (FHP) about which I have questions today. Then I have a detailed look at the dire results from worthless Mosman Oil & Gas (MSM) before heading onto Indigovision (IND) and WYG (WYG).
Today's main bearcast is short as I feel rotten. Apologies. In it I cover events in Zimbawe and look forward to the execution of Africa's Hitler. I look at Purplebricks (PURP), UK Oil & Gas (UKOG), West African Minerals (WAFM) and Mosman Oil & Gas (MSMN)
I start with a discussion prompted by a reader request on whether a brand has a hidden added value which you should account for when making an investment. Another reader asks if it is time to buy back into Eden Research (EDEN). I think he is being spoofed and explain why. Then I look at the latest (non) news from Telit (TCM) and ask if the mortgage fraudster and fugitive from US Justice, Uzi Katz, has dumped his shares. I look at what is happening at Conroy Gold & Natural Resources (CGNR) , at the latest Mosman (MSMN) spoof, comment again on Nighthawk (HAWK) and then at the next Neil Woodford car crash RM2 (RM2).
On today's bearcast I mention, en passant, an Irish crook I want to sue me as you can see HERE but then cover Big Sofa (BST), Conroy Gold & Natural Resources (CGNR), Mosman Oil & Gas (MSMN), ITM Power (ITM), Arian Silver (AGQ), Carillion (CLLN) and Purplebricks (PURP)
John Barr of Mosman (MSMN) has today made an AGM statement which marks him out as a total wanker of the highest order and a disgrace at every level. I am livid, I explain why this man should be forced to resign at once and why his career should end at once. There is no apology for the chart below which tells its own tale of corporate ineptitude.
Finally the joke AIM company that is Mosman Oil & Gas (MSMN) has got around to posting notice of its forthcoming General Meeting at where there is just one motion - the re-election of Technical Director and the face of Mosman, Andy Carroll, to the board. This is our chance - we urge you all to vote Carroll of the board.
I must rush. Woodlarks beckons and then it is Greece. But first I look at: Advanced Oncotherapy (AVO) in light of last night's bombshell HERE, TrakM8 (TRAK ) - chatting to Paul Scott - Pantheon Resources (PANR), Bushveld Minerals (BMN), FastForward (FFWD), Jim Mellon's reported comments and Mosman oil & Gas (MSMN).
Today's RNS from Mosman Oil & Gas (MSMN) is not new ramptastic news but just a recycling of yesterday's ones with the factual errors corrected. What is it with this company and its inability to tell the truth to investors? Anyhow.. the RNS is pretty clear, it is placing ahoy.
I have a few more words on the Triumph of The Donald and the demise of Crooked Hillary. Ha! But my main thoughts on that are HERE. Then I look at Avanti Communications (AVN), Andalas (ADL), Green Dragon (GDG) and Greka Drilling (GDL) before having a detailed look at Mosman (MSMN) shares in which are up by 260% today which is bonkers.
I record this podcast from Shipston where I have just rowed with my sister about A Levels and grade inflation which she denies in her Public Sector Ministry of Truth way. Then it is onto the US election, the outcomes and what that means. I am afraid that after last night I have a bad feeling. Then it is onto MXC Capital (MXCP), Redcentric (RCN) and Mosman Oil & Gas (MSMN) where in America there would now be class actions underway. Quite right too.
That was an easy pull down of the shysters at Mosman Oil & Gas (MSMN) lead by Andy Carroll. Is it too early for a celebratory ouzo? Perhaps hapless Nomad SP Angel should send a case of ouzo to the Sheriff of AIM to thank me for doing its job for it? At the weekend I exposed how Mosman has mislead investors for more than a year HERE. This morning it fessed up:
I am now aware that the FCA has been asked to investigate whether Mosman Oil & Gas (MSMN) has been misleading investors in its RNS releases with regards to the Murchison permit operations. The matter does seem pretty black and white to me.
Having failed repeatedly to make anything other than vast losses and a pigs ear from the oil and gas sector, Mosman Oil & Gas (MSMN) finds itself sitting on A$4.5 million (£2.2 million) and so appears determined to find new ways to spunk what is shareholders cash.
A wide ranging podcast starts with comments on Eden Research, Ken Brooks and the abject failure of the FSA/FCA to protect investors. Then it is onto three shite companies starting with the letter M : Magnolia Petroleum (MAGP), Motive TV (MTV) and Mosman (MSMN). I look at Circle Oil (COP), Trinity (TRIN) and Tethys (TPL) as well as Servision (SEV) where my target price remains 0p. Then a brief stockmarket lesson for the Sith Lord on what a dead cat bounce actually means and a look at Aureus Mining (AUE).
I have won £5 from Shipston's Buffett for tracking down a long lost cousin to whom he has not spoken in 50 years. That is my main achievment today. I shall comment on InternetQ (INTQ) and MX Oil (MXO) elsewhere. I start with a look at BP (BP.) and explain why we have bought the shares today. Then I look at Corero (CNS) in detail and at Condor Gold (CNR), Nighthawk (HAWK), Petroceltic (PCI), Mosman (MSMN) and Aureus (AUE) before a detailed look at the dog Blur (BLUR).
Mosman Oil & Gas (MSMN) had already flagged that the STEP acqusition was a non-runner at current oil prices and that it had a break clause at sub $40 oil so it should have been no shock that it has today formally pulled out of what was a crap deal anyway. But it seems that the morons who owned the shares were surprised as the shares have almost halved on the AIM Casino to just 1.25p. So what next?
Mosman Oil and Gas (MSMN) has seen its share price rise dramatically recently, almost doubling from its lowest point just a week or so ago.
As the summer wears on folks like little Keith Bush at Northern Petroleum (NOP), Andy Carroll of POS Mosman Oil & Gas (MSMN), halpess Neil Ritson of LGO Energy (TOAST) and Andrew "Piggy" Austin will be looking for new jobs as their company's go tits up. The graphic below suggests that next time they might want to try serving up something customers want to pay for?
I am not in a good mood. Is this more to do with the reaction to Brokerman Dan's piece here yesterday or an impending trip to the Grim Northern welfare safaris to see the mother in law. Anyhow this podcast contains a lot of bad language. I discuss Daniel's contribution. The market was in a good mood yesterday and thus a number of wholly irrational share price spikes get covered: Mosman Oil & Gas (MSMN), XCite Energy (XEL), Condor Gold (CNR) and especially Highway Capital (HWC) which I cover in detail. I also explain why I remain bearish and comment on Aureus Mining (AUE) which announced a "strategic review" i.e. it is totally fucked.
Mosman Oil & Gas (MSMN) has walked away from its duff STEP deal having raised A$6.47 million before ( no doubt grotesque) costs to do the deal. Without that cash it would have gone bust as cash as at 8 December 2015 was just $5.4 million. But where does it go now? Down the plughole is the best guess.
Featuring shares in Borders & Southern (BOR), Concha (CHA), Fastnet Equity (FAST, Kenmare Resources (KMR), Mosman Oil & Gas (MSMN) and Webis (WEB) with share price targets set for all six stocks.
I delay breakfast at Tom's Diner in Brooklyn for you dear listeners. I explain the sacrifice I am making. Then the theme is one of denial as I examine Zincox (ZOX), Sefton Resources (SER) & flip flop Ben Turney and finally 88 Energy (88E). I move onto how one reacts to fair questions and the scumbags at China New Energy (CNEL) and Afriag (AFRI). I look at Asian Citrus (ACH), InternetQ (INTQ) and Mosman (MSMN) - both zeros and eServGlobal (ESG) which is also heading for 0p. There is a final swipe at Rare Earth Minerals (REM) and Jabba The Hutt, Mr David Lenigas.
Cripes there is so much entertainment provided by the clowns who run shite companies on the AIM casino. Where do I start? This podcast covers Mosman Oil & Gas (MSMN), Rapidcloud (RCI), Arian Silver (AGQ), Concha (CHA), Rosslyn Data (RDT), LGO Energy (LGO), Fastjet (FJET), Afriag (TOAST), UK Oil & Gas (JOKE), Jiasen (FRAUD), Nostra Terra Oil & Gas (NTOG) and Independent Resources (IRG).
In this podcast I discuss OPEC and the oil price. I think you should have some oil exposure via BP (BP.A) and I am intyerested in a couple of gas plays, notably Ascent (AST). But I remain uber bearish on oil juniors as I have been (correctly) for four years. Among those heading for zero which I discuss are Gulf Keystone (GKP), Xcite Energy (XEL), IGAS (IGAS), Mosman Oil & Gas (MSMN), Northern Petroleum (NOP) and LGO Energy (LGO). And there are others take may not hit zero within a year but which still face share price decimation such as Solo (SOLO) and the Horse Shite/ Horse Hill Gatwick Gusher plays.
Naturally I start the podcast with InternetQ (INTQ) after my bombshell report earlier HERE and the company's pathetic response which I counter HERE. Then it is onto DiamondCorp (DCP), Iofina (IOF), Mosman Oil & Gas (MSMN) and finally Rosslyn Data (RDT) - whose CEO just can't remember his career in adult films - but that is the least of his problems.
In today's podcast I deal with reader complaints that we have not given enough coverage to the various business interests of fat Aussie share ramper Jabba The Hutt. And so I cover Lenigas Cuba (CUBA), Big Jabba's preposterous claims about liquidity on ISDX and Solo Oil (SOLO) - placing ahoy! I also look at Mosman Oil & Gas (MSMN) - more shite from poltroons from the land where most folk are descended from convicts - Flying Brands (FBDU), 88 Energy (88), Kea Petroleum (TOAST), JQW (FRAUD), Northern Petroleum (NOP), Optibiotix (OPTI) and African Potash (AFPO). I also deal with some wanker on twitter who thinks I am a sexist and wants to have a fight with me and ask more questions about market abuser Chris Oil AIM IPO car crash waiting to happen, Mkango Resources
Featuring shares in Aeorema Communications (AEO), Alexander Mining (AXM), Central Rand Gold (CRND), Mosman Oil & Gas (MSMN) and Trinity Exploration (TRIN) with share price targets for all five stocks.
I start wth Marlowe (MRL) and a debate here about insider dealing. Then it is onto Quoram (QRM) and its delisting and Nakama (NAK) and its dire results - it should be delisted. Then it is onto Mosman Oil & Gas (MSMN) - another confetti issue, Fitbug (FITB) which needs a confetti issue, Peer TV (PTV) whose board need shooting as does Tim Coffman its disgusting POS Nomad and finally UK Oil & Gas (UKOG), David Lenigas and the truth about ISDX as opposed to Big Dave's PR bologny.
Featuring shares in Alba Mineral Resources (ALBA), Boxhill Technologies (BOX), LGO Energy (LGO), Mosman Oil & Gas (MSMN) and Vast Resources (VAST) with share price targets for all five stocks.
Circumstances change, share prices change and so ones evaluation of what is in sight as a good short always changes. Challenged by a reader I serve up my ten top shorts/sells for Christmas, with one caveat.
Featuring shares in 88 Energy (88E), Arian Silver (AGQ), Independent Oil & Gas (IOG), Mosman Oil & Gas (MSMN), New World Oil & Gas (NEW), Sacoil (SAC), together with some share price targets.
I am not picking on Mariana Resources too much. Okay I am and did so HERE. But the point in this podcast is to show how the actions of Mariana in destroying shareholder value while the crony capitalists plunder and profit are just symptomatic of how AIM works as a whole. I also cover Stanley Gibbons (SGI), Paragon Entertainment (PEL), the scumbags at Mosman Oil & Gas (MSMN), Iofina (IOF), BTG (BTG) and Volex (VLX).
Featuring shares in Atlas Development (ADSS), Landsdowne Oil & Gas (LOGP), Mosman Oil & Gas (MSMN), Sable Mining (SBLM), Sound Oil(SOU) with share price targets for all 5 stocks.
Featuring shares of 88 Energy (88E), African Potash (AFPO), CEB Resources (CEB), Mosman Oil & Gas (MSMN), Stratmin Global (STGR), Sunrise Resources (SRES), together with some share price targets.
This morning, Mosman Oil & Gas (MSMN) announced yet another deeply discounted placement. If this caught you out, you probably have no one but yourself to blame, as this was always going to happen. Mosman is a dire business, run by consummate stock promoters, who seem to have have serious difficulty in making full disclosures to the market (HERE and HERE). Despite all this, Mosman’s share price surged from just under 3p to an intraday high of 9.4p within the last month. Today it placed at 4.5p. Does any of this matter so long as some are making money?
How can I think straight when Corrie live is on tonight? Anyhow, I continue my debate with Paul Scott on Boohoo.com (BOO). He thinks I'm wrong HERE but I suggest a few points he may wish to consider. Then Lucian Miers flags up the curse of Welsh folks called Williams involved with PLCs - David at Avanti Communications (AVN), Jim and Tony at Arian Silver (AGQ) but is David at Tungsten (TUNG) a sheep shagger? And what about Chris Oil? We need to know. I discuss Arian in its own merits plus Europa Oil & Gas (EOG), Mosman Oil & Gas (MSMN) and in detail Premaitha (NIPT).
Featuring shares in Armadale Capital (ACP), Clear Leisure (CLP), Gulf Keystone (GKP), Mosman Oil & Gas (MSMN), Transense Technologies (TRT), Tyratech (TYRU), together with some share price targets.
After last year’s highly selective reporting of its New Zealand oil “discoveries” (which didn’t turn out to be commercial), the board of Mosman Oil & Gas (MSMN) is back up to its old tricks. If you don’t read today’s RNS carefully enough, you’d be forgiven for thinking that the STEP Royalty is a cracking bit of business. The market has clearly fallen for the spin, with Mosman’s share price up 21% at 7.875p, last seen. Once again sentiment traders have blindly piled into a stock, which stands little to no chance of ever delivering shareholders a fundamental return. Here’s why.
It is 9/11 and I look back 14 years. I also reflect on the Orwellian way we all viewed Syria earlier this week. Looking forward, we have sold 90% of the restaurant in Clerkenwell to the pizza hardman Darren Atwater. we end up slightly ahead on the deal but I have had enough of running businesses and blame my own old age and the Tories for that. This is the start of my wind-down. On AIM its a cracking day with another China fraud kill, China Chaintek (CTEK) and more fun and games at Mosman Oil & Gas (MSMN), Redhall (RHL), Monitise (MONI), Sefton Resources (SER, Cloudbuy (CBUY) and Golden Saint Resources (GSR). And I am getting into bed with Rob Proctor of Audioboom (BOOM). Not literally but...well I explain in full. in the podcast.
Featuring shares in 88 Energy (88E), CEB Resources (CEB), Goldplat (GDP), JQW (JDW), Mosman Oil & Gas (MSMN), Strategic Minerals (SML)
It’s no secret that by early 2010 I had failed at what I was doing. Miserably. Facing up to that realisation was incredibly tough. A hair’s breadth from bankruptcy, the following couple of years were a surprisingly liberating experience. There is nothing like a period of enforced penury to help one reassess what matters in life and redefine one’s course. At some point, in the not too distant future, the directors of Mosman Oil & Gas (MSMN) are likely going to share this experience, as they finally come to terms with the fact their business has no serious future on AIM.
Featuring Arria NLG (NLG), Jubilee Platinum (JLP), Mosman Oil & Gas (MSMN), Red Emperor (RMP)
Featuring CEB Resources (CEB), Fitbug (FITB), Gfinity (GFIN), Legendary Investments (LEG), Mosman Oil & Gas (MSMN), Zambeef Products (ZAM)
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at Amino Technologies (AMO), Mosman Oil & Gas (MSMN), Volex (VLX).
When I returned as editor of ShareProphets at the start of the month a lot of people questioned why I would want to associate myself with this corrupt nest of shorters (or words to that effect). Today’s RNS from Quindell (QPP) has more than answered those doubters. This website does excellent work. No-one else ventures into the darker recesses of AIM in the way our intrepid contributors do. This market is in desperate need of reform and if a move towards that end ever gains momentum I fully expect us to be at its vanguard.
I love Mosman Oil & Gas (MSMN). I really do. Taking a step back from the daily outrages on AIM and Mosman has to be one of the funniest stocks around. That is, unless you are a shareholder. After the controversy of last year’s oil “discoveries” that weren’t commercial, Mosman’s board has been on a bizarre trip of nonsensical deal making. Whatever is being slipped into the directors’ tea every morning is having a marvellous effect. I am not sure how I would best characterise their behaviour, but someone less kind than I might call them utterly bonkers.
One of the more interesting aspects of the Mosman Oil & Gas (MSMN) story involves the nature of price sensitive information. When Mosman announced its first oil “discovery”, at 11:42am on June 13th, the share price went ballistic. Having opened at 11.85p, Mosman’s stock had just hit an intraday low of 10.5p before the company delivered its joyous news. By the end of the next trading day, Mosman’s share price had peaked at 56p, giving the company a market cap of £36.3million. Four days later and Mosman placed at 23p to raise £3million. There is no doubt that Mosman’s news release was a price sensitive event, but is it time to revisit the definition of what constitutes price sensitive information?
So much for not needing to place! The more I watch Mosman Oil & Gas (MSNM), the more certain I am that there is going to be a lot of anger and disappointment in the coming months at the flow test results of the oil “discoveries” at Cross Roads-1 and Crestal-1. The actions of Mosman’s board don’t exactly betray a great deal of genuine confidence in what the company has found. The selective release of information about the “discoveries”, the timing of this placement and the lack of director participation all point to fears of imminent downside. I accept I am making highly speculative points here, but so far I’ve been bang on the money about this company, so I’m happy to fire away. What will be extremely interesting is if this stock takes a hammering in the event overblown expectations are dashed, will that lead to a buying opportunity?
The development of Mosman Oil & Gas (MSMN) is fascinating to watch. The company has executed an extremely well defined strategy, almost flawlessly. Since listing in March, the directors have taken the company’s share price from 8p to an intraday high of 56p. They have achieved this without announcing commercial discoveries of oil and without telling any lies. This high wire act is very impressive.
I had a good old chuckle yesterday when I read Mosman Oil & Gas’ (MSMN) latest promotional ramp... sorry, I mean RNS. Whatever else is said about this company, these guys have been brilliant at devising new ways of hinting at a worthwhile oil discovery without telling any lies or actually claiming what they have found is commercial. The company’s announcements have been true works of art. Sadly for Mosman’s directors it looks like the fun and games are now over. In suggesting that the little dribble of oil found settled on the mud at Crestal-1 could have similar properties to the apparently much-tested Kotuku oil seep, I bet they were surprised to see their company’s share price fall a penny to 21.5p. Something tells me that wasn’t part of the plan...
Yesterday, Mosman Oil and Gas (MSMN) gave the market an update on its acquisition of the privately held Trident Energy. The critical message shareholders were probably meant to pick up was that Mosman’s board has waived Condition 2 of the transaction i.e. for Mosman to “complete an equity capital raising of at least A$2million”. In its accompanying statement, Mosman’s board claimed it waived this condition, as a result of “the success of the recent fund raisings”, but how creditable is this assertion?
Today’s Horse Hill news hasn’t done much to lift the share prices of the listed participating companies. Perhaps this is to be expected, as approval from the UK Department of Energy and Climate Change was surely just a formality. Even so, the co-owners of Horse Hill Developments Ltd are experiencing something of a market lull, but I still expect this will prove to be the calm before the storm. Although there is the looming spectre of placements, it is hard to see Horse Hill fever reaching anything other than epic proportions. When I first covered this drill, last week, I was a little flippant when I picked Alba Resources (ALBA) as the stock I might take a gamble on, based solely on it having the fewest number of shares in issue. This morning, Alba provided its half yearly report and I think I might have to change my mind.
Whoever said that ShareProphets is a one trick pony?! Proving that this view of our work is entirely misguided, I thought I’d throw in another Horse Hill article onto today’s roster... “Not more bloody Horse Hill” I hear our avid readers cry, but this is likely to be the story that dominates British resource small caps over the rest of the summer. Given the wild reaction we’ve recently seen to Mosman Oil and Gas’ (MSMN) succession of oil “discoveries” in New Zealand (which, by its own admission, it doesn’t even know if they are commercial yet) the scene could be set for ecstatic market rapture if rumours ever leak from Horse Hill’s Surrey drill site. This could end up being the highest profile onshore exploration campaign ever seen in the UK and I wouldn’t be at all surprised if a temporary campsite springs up outside the gates, as desperate private speculators resort to whatever means they can to gain access to information. Although the smart ones will probably just hang out in the local pubs, when shifts end...
In case you haven’t heard, I think I am right in saying that Mosman Oil & Gas (MSMN) has discovered oil. Today’s latest double “discovery” hasn’t been greeted with the usual fanfare, as the share price has taken a sharp dive to 33.5p (last seen). Given that this precipitous drop is in response to the announcement of two “discoveries” at Crestal-1, perhaps the market is unimpressed at the total absence of detail of what has been found? Or perhaps people are more concerned about the pending placement?
In the old days Oilbarrel Conferences used to be graced by the likes of Cairn Energy (CNE) & Tullow Oil (TLW) and were packed out. These days, a combination of serial under-deliverers and promoters looking to ramp ahead of the next funding tend to present. Last week’s line up was so dire that if you are among the handful of attendees we provide this handy crib sheet of questions for dogs Range Resources (RRL), Green Dragon (GDG) and Northern Petroleum (NOP). Oh, and for good measure, we also include Mosman Oil & Gas (MSMN), in a well timed appearance.
Today’s RNS from Mosman Oil & Gas (MSMN) isn’t a helpful one to quell the growing hysteria around this stock. The company has informed the market that the “petrophysical analysis from its third party consultants including SRK and has determined the oil encountered in the Cobden Limestone at Cross Roads-1 meets the definition of a discovery in accordance with the New Zealand ("NZ") legislation”. This is the second “discovery” at Cross Roads-1 (the first being the “total potential pay of 17 metres” in the Eight Mile formation) and the share price has jumped 8.5p to 35.1p (last seen), valuing Mosman at £27.4million. This is crazy, when you consider key details are either not clearly explained in Mosman’s announcement or are missing entirely.
As sure as night follows day, Mosman Oil & Gas (MSMN) conducted a deeply discounted placement this morning, at 23p. If nothing else, the wild run Mosman has been on is another indicator of life returning to the AIM resource sector, for better or worse. On a fundamental basis it is very hard to make a case for owning Mosman, but this is AIM. What the hell do fundamentals matter?
Mosman Oil and Gas (MSMN) recently caught my eye when it listed on AIM and its share price doubled a month or so later. At its peak of over 15p ten days or so ago I’d have been very wary of buying, especially as it had risen so fast and only has a market cap of circa £6 million, with just 61 million odd shares in issue.