Not entirely sure what you mean by didn't want to vote against him. Barring some nefarious takeover plan, they may have invested, seeing the potential of the assets, and with proper management expected a good return. However what they found was a distinct lack of delivery and so decided to strike whilst they could and wield their power to get production moving and some return on their investment (and possibly avoid their holding being diluted to feck along with the rest of us). As mentioned before, I was essentially advocating voting nearly exactly how Abrahams did, prior to the AGM. So it's no stretch for me to imagine they felt the same way. This could be the best possible thing for us in a long long time. However nothing is certain on AIM ;) Goes without saying that the sooner announcements come the better, but putting together detailed plans, not just having a good idea of the various things they might want to do, isn't necessarily a 2 day job. In fact you probably don't want it to be a 2 day job. So I don't think it's unreasonable to expect it to take a week or more (depending on how much they had planned already and how much relied on them going through internal company data and writing stuff as a result). Interim indications of what's going on might help though to let people know what they're now doing/working on.
I would have liked to have seen Rory's "final straw" presentation. Unless told otherwise, will assume it was 5 rigs signed off and operational; sixth one being unmullered and expected ready for sign off before Christmas; 700 bopd November; expected 1000 by end Jan and 2000 by end June; Duncan, Field and Russell recommended to Queen by Ramnarine for CBE in New Year honours; Terry for BEM; Walter for CDM; probability of dividend in 2015.
That has more of a ring of truth to it than RTN praising Abrahams for their polite and diplomatic coup nearly a full week ago. Perhaps a message will be placed on ASX tonight before bedtime. Dim siawns - Welsh for not a lot of hope.
Unless they really didn't want to vote against Rory but did it as a last resort, which could be a possibility. Hence would explain a limited action plan in place. For example if they were working with Core (or whoever), then they could have had (if rumors are to be believed) - 2 rigs ready to go, 20 million finance sat waiting. Yet the only thing they've actually said if about possible financing delay. If next week goes without further announcements then will be a real consideration.
There's a danger here that the Chinese don't do alot in a short(ish) period of time and bore the share price back into submission. So far it looks as if their plan was just to get a couple of chums on seats. Yes, it's only been a few days, but lets hope that doesn't turn into weeks and months. Wonder if Rory has locked himself into the staff toilet and is refusing to come out.
The one thing RSR tried to do was to push through his share options. I for one am delighted the change of tack. I always said he was too young and inexperienced for an Aim company - people working their lives in large corporate companies invariable translate to efficient inefficient managers / directors of small caps. My opinions only of course.
What makes you think we had more chance under Rory. He had done feck all to increase production and was going to dilute the b*llocks off the company. You're lauding Rory for things that he hadn't done! Which was kind of the whole problem.
He is on the Board as NED apparently. Why is there a gap of 6 years after 1999 on his cv. Where was he based? Who did he work for? Every year can be accounted for except those 6 years.
I hope he is a good'un. That great plans are in place. But I do not appear to be the only one who is very sceptical, and will remain so until we have far more clarification about who is in charge and where they are charging too.
We were clear a few months ago. Rory was in charge and we were focussing on Trinidad on-shore. I was happy with that - many thought I was a pl*nker and employed by Buchs, joined at hip to someone who lived about 15 valleys west of me. I am far from happy with this vacuum that is Range iii - yet others are happy and licking their lips at prospect of getting their 10p a share back next year. Bit of a puzzle to me, as I would think they had vastly more chance of steady growth under Range ii. We shall see, when Mr Chen comes down from his ivory tower and deigns to say anything.
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