scammed???, page-19

If they intend to give monthly flow reports, as is common practice among the gassers I've invested in over decades, then all is good. Let's see if an update is released within the next two weeks or so.

5c to 35c is massive profits.

And 44c to 21c is a massive loss, over 50%. Even 29c to 21c is a massive loss, and while you might point out the shareholders didn't participate in the raise and therefore didn't lose out, I'll point out that (1) it is quite clear, to me at least, that the SP was pumped for the purposes of the raise, and (2) sophs were favoured over you pleb shareholders, and it is never a good feeling being treated as 2nd class citizens.

The modus operandi of the recent raise is classic RLE. Pump the share price with (1) non-binding agreements, (2) incessant announcements containing mostly the same info, suggesting future riches to all using copious quantities of spin, sprinkled with enough qualifiers (we believe, we propose, likely, probably, etc.) to make the announcements legal, then when the share price rockets enough, announce an opportunistic cap raise, knowing that if you don't strike while the iron is hot, the share price will crash back down.

I get it that holders don't want to listen to what we "naysayers", "down rampers", "non-holders", "idiots" have been trying to warn about. Ok, fair enough, it is your money to lose. But the company currently has no proven gas reserves, and it is still unknown whether there will be any reserves (3P, 2P, 1P) booked from the current drill program. If Venus is a dud (and it may well be a dud, we'll have to wait and see) then you can expect the share price to fall back to below 10c, and all the current (worthless) JV and MOU agreements will be even more worthless. And if the well is a success I can't see any material increase in the SP because it seems that assumed success is already built into the SP, given the positive comments in the PH2 threads.

Yes I'm certainly "glass half empty" on PH2, but it comes from a wealth of negative experience as a shareholder in RLE, and believe me, the RLE fox is very much in with the chickens inside PH2. Until that changes, my investment philosophy is to (1) Do my own research, with history in mind, (2) ignore and spin, hype, and projections that PH2 announce, (3) Not invest in any cap raise, because the chance of the SP falling below the raise price is almost 100% (if history is any guide), and (4) not invest until at least a 3P reserve is booked, because until that occurs, all the MOUs in the world are worth zilch without gas.

All IMHO.