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.
When this sort of coup occurs, it tends to be looked at with great interest by the authorities, fellow shareholders and staff. So I am not so sure it is a done deal yet. An EGM can and should be called asap.
On the RIG poll, it was approx 60% of RIG members who wanted to keep RSR, GL and CB on BOD. And also keep latest two Aussies whilst we're on ASX and require 2 Australian nationals. M E-J was not popular at all, and was the only one voted off without Abrahams block being thrown in the mix.
My guess would be that 50% plus of shareholders who were not signed up to RIG would have been slightly more pro RSR/GL/CB than RIG members, and many RIG and non-RIG may feel aggrieved they had cards to play, questions to ask, presentations to think about. And then a couple of people disrupt events in Perth and, for whatever reason, Reikle did not have Security and police in to arrest them.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.