Can I suggest that the two of you join together and offer your services as Chairman and CEO for 1 year to Sefton. With Terry's astute but critical eye on this company and OBB's knowledge and passion for the company it looks to me like a good combination and I would be buying if that was announced , that is for sure. By the way I am not joking or being sarcastic, we need some sense to lead the company, god knows there is no brains in there at the moment!
Has the buyer who has bought 56 million in the past couple of days just helped himself to another 6 million. And if so has he/she bought more than 3%. Well over a quarter million pounds spent. Who spends that kind of money on a share that has just come out of suspension, the CEO has been booted off the BOD, the company is embroiled in a Court Case and it appears that the Company is in a right mess?
A lot of opinions were floating around that this was it for SER, they won't come out suspension at all.. or they will come out of suspension after a long time.. and yet within 3 weeks they have been listed again.. we have had 2 solid months of income from Tapia producing more than 160 bopd. If they get more than 150 bopd for September thats another odd 500k plus the 500bopd from Kansas.. surely this should go north sooner rather than later.. yes management does seem an issue.. but the company it self is progressing albeit slowly.. OBB agree that they have there hands everywhere.. and money spent on all 3 fronts and there are 2 streams of revenue coming in.. I always thought a 2nd steam generator should have been bought ages ago and also rather than drilling 3-4 hartje well drill a one expensive horizontal drill like Oxy do next door.. not heard from them or even the like of Berry..
totally agree with you , they should just concentrate on tapia at the moment to try and maximise production and revenue . if as they say a new steam generator is going to cost $2 million dollars , then we should achieve pay back within 3 months of installation and initial steaming , they could then concentrate on Kansas . maybe , just maybe , they are looking to the new jv to provide funds and operations at tapia , so don't want to invest more than they have to there , and ser will focus on Kansas . my only problem with that scenario , is who has the authority within the company at present to negotiate or decide where , when and what . they really need to get the appointments sorted , irrespective of the court case , so the company can move on in the meantime .I never predict sp , but I am certain that a new ceo and chairman would lift us to above a 1p if the right choice was made , irrespective of whatever else may be happening within the company .
I think they should forget about the pipeline and concentrate on maximising production at Tapia. Just think what production could have been if they had invested in the 2nd Steam Generator 12 months ago.
Re the funds: KM has raised lots of cash for COP and I'm hoping he's going to do the same for SER.
I have a feeling they may have obtained some of the material via a non legal means , which they may have to divulge in court were they obtained , thus incriminating themselves . I said yesterday , tw is no genius in this game , his track record is patchy to say the least . so that immediately raises questions on how he suddenly changed spots , and yet has nt repeated his performance anywhere else ?I think the twins imagined they could bully jim out of making a court appearance , which has nt worked , and now they are starting to lose their nerve . this is costing us shareholders cash from the coffers of ser , and even if ser were successful , how much would we gain ? speaking of finance , I believe they are going to have to raid the war chest soon for a large amount of cash for this 3 mile pipeline , which we were assured was going to be finished in july this year . strange don't you think that we were given july , a time when surely the crop was growing , and now we are having to wait for farmer giles to bring the crop in . more deceit from jim , I think the real reason it has nt been completed is this is going to cost big bucks , cant work out if the pipeline is over or underground . I am hoping overground , but that would nt make sense if it is running across a field like jim is implying . underground pipelaying costs a fortune , and we wont see any news this side of xmas on its completion .so no matter what , either for court costs or pipelaying , cash is going to have to be raised .atb
In all honesty I expected SER to bring the proceedings to a halt last Friday but the fact that they are continuing suggests they still have a good case. Perhaps it could be something that TW/BMD have said or done since the original libel, which has given them grounds to continue. This wouldn't be a complete surprise given the vindictive nature of their attacks.
he makes some very good points , and I cant argue with the logic of the situation or the case he makes . I think the problem for all of us is understanding who has the legal upperhand here . I am not so sure about their assertion that je is innocent , but I understand that he has nt been legal proven guilty . to all intents and purposes he has been caught with his pants down , and I am certain if the authorities had any gumption about them , they would investigate and prosecute . unfortunately this is aim , and its akin to the wild west in its approach to policing as far as I am concerned . thanks for the differing point of view , and getting back with the info .atb
Loverat has argued that although JE is far from being a model citizen he can still be libelled. California Joe takes a similar stance. Here is one of his posts:
"Difficult one to call this! Sefton took the action against TW and BMD based on their insinuations about the company and the possibility that they had used their medium as an advantage to their possible trading.
The two have responded by making further allegations and what could be seen as libellous and defamatory publications about the company and the CEO.
The attacks on the CEO have been personal and certain claims about fraud, his family and his personal life may well turn out to go against them, as surely making a public attack on someone and naming them as being guilty of fraud, when this has never been proven and this person prosecuted for it, unless they can ensure a prosecution to back up their claims, they would be guilty of what they are being accused of.
I cannot see a court, on a point of law, agreeing with the defendants.
I also see there may be a problem with the market sensitive information being made public and publicised on their blogs. Could it be the same offence as repeating a libel, that the person that repeats it is also seen to be as guilty as the source?
JE may well be guilty of what they accuse him of, but using that information PRIOR to any proof of guilt I see as a major stumbling block to their success.
It matters not what the judge may think, he has to act within the law. His personal opinion may differ, but that wont help the two!"
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