Reading back through this: It appears as though a certain person may have some inside information. They appear to indicate that we may have been grossly mislead. For example -
(1) Despite MAY's own management clarifying the matter, there may be a problem with Sonangol paying. It also appears as though the company is now being accused of "cooking the books" (for if there was doubt over JV payments, they could not include these sums in Current Assets and would be duty-bound to disclose the problems as it would require a recasting of the Quarterlies). Serious accusation, but we are lucky that the person making those claims is a CPA, CA, and knows their ASX Listing Rules better than the company does. Well done.
(2) Despite MAY stating - several times - that the current programme is fully funded, it appears that this is incorrect. Our dear "source" here claims that there is the need to Capital Raise. Or is he just making those comments to try to undermine the stock? (surely not, because that would be illegal, right?). So he must be right: He is openly calling out the CEO of the company about this. I wish him well with this strategy.
(3) The previous drills into the lower sheets resulted in published information regarding the APIs. The company "stupidly" (according to our source here) re-published these in their own reports (for example, their report on Alameda-1 dated 1st August 2022, where they noted that Marti-5 recovered API 24 oil in 1988) , eluding to APIs in lower sheets being higher than those in the upper sheets (versus Unit 1B with API at 19, and 1A at 12 - ref: Alameda-2 Appraisal Update of 28th August 2023). But our "source" here has information that contradicts this (either he had some form of insider or privilaged information providing differing APIs to those published, or he has obtained Maths God status by proving that 24 is less than 19). Good on him: he is calling out the CEO again for misinforming us, and finally re-writing history to set the record straight once and for all.
(4) The previous 24 hours flows for A2 were incorrect, according to our source here. In their 2nd November 2023 updated the company noted that the flow peaked at 1,183 barrels of oils per day (and were intentionally choked back). But our "source" has again called the company CEO out on this fantasy, and set the record straight. It is 300 barrels per day, not 1,183. I am ever so glad that this rort has finally been outed. Scandal.
In essence, if we are to believe our "source" here - We have all been grossly mislead. Accounting errors, misinforming the market regarding flow and API tests, and failure to disclose to us all that there is not a zac left in the bank and we all need to break open the piggy banks once more to fund this circus of misinformation. If any of this is right, I am furious!
Good on you for exposing this scam. Good on you.
FLIP SIDE ARGUMENT:
Have a bit of a think before you continue to publish information which is clearly misleading and has the sole intention to damage the share price, reputation of the company, or reputation of those working for it. You own those comments - literal or implied.
Kit.
Expand
(20min delay)