OK, we have 6 weeks left before the rug is pulled and Cetus walk away with minimum damage leaving us PI's high and dry so what can be done? I am aware that Woburn was approached last year by a company wishing to reverse assets into an AIM shell. Their intention was to make an offer to Cetus for their shares or a substantial majority of their holding in WBN but the approach was rebuffed out of hand by the Directors. I have had a conversation with a lawyer who advises that there is the possibility that, having not even considered this option, then the Directors may have acted against the interests of the minority shareholders. Certainly, to close down the company with the excuse that there are no deals out there is plainly ludicrous. I have previously suggested that the PI's get together to take legal action against the Directors of WBN and have therefore set up an email account for anyone interested in joining with me. I'm afraid, however, that we would need legal opinion before we go ahead and I therefore suggest that anyone wishing to join an action group would have to make a modest contribution towards legal costs. The amount would, of course, be dictated by the number of people wishing to part with a modest sum and the cost of the advice. If anyone is interested then please contact me at email@example.com and I will get the ball rolling. Spread the word to other Bulletin Boards if you are active elsewhere and let's bowl them a few bouncers.
17 Oct '13
the chairmans on the case
All systems go for the doctor he is fully involved in sorting a Kazakhstan investment, he is fully aware of the timescale how do I know well sharr replied to my e mail, one thing about the new woburn, they are truthfull on monday I had a reply to my email of sunday asking when would receive an update, answer latter this week what happenned rns yesterday !. keep it up woburn.
16 Oct '13
Woburn Energy Plc ("Woburn" or "the Company") Corporate update The Company's investing policy is to make investments in the oil and gas sector and the Directors are focusing on Europe, the Middle East, Africa and Asia. Investments may be made in exploration, development or producing assets. As reported previously in the interim results last month, the Company pre-qualified for participating in the current Myanmar Onshore Block licensing round and submitted a licence bid for consideration by the Myanmar Department of Energy, prior to the bid deadline of 23 August 2013. However, we regret to confirm that Woburn Energy's bid was not successful. While the Board believes that Woburn's bid fully reflected the potential of the block, there was significant competition from major international operators who bid more aggressively. While the Board is disappointed that the Company has been unsuccessful in securing a licence in Myanmar, the Board is continuing to review other opportunities to acquire an interest in suitable projects, including Central Asia and Africa. The Board has already commenced initial due diligence on a near term production project in Kazakhstan, including commissioning a competent persons report, and a further update will be provided in due course. In September the Company sought shareholders consent to send or supply documents to them via a website and in electronic form and accordingly, other than those shareholders who requested that hard copy documents be sent to them, all future communications to shareholders will be via electronic format with access to documents via the Company's website. The Company has also made a correction to the directors' report and associated note in relation to beneficial interests in the Company to the original filed statutory financial statements of the Company and which is therefore a revision to these annual financial statements. Copies of the amended filed statutory financial statements are available from the Company's website. For further information, please contact: Woburn Energy Plc Tel: +44 (0) 20 7387 2288 Kamran Ahmed www.woburnenergy.com Beaumont Cornish Limited (Nominated Adviser) Tel: +44 (0)20 7628 3396 Michael Cornish A copy of this announcement is available from
14 Oct '13
I believe there will be announcement this week?
5 Oct '13
One to watch
I've been in this one for years and thought it was dead in the water but looking at it now am hopeful of a new beginning. Can't wait December to increase my holding. I am very much a sucker for realistic recovery companies and wish the coy, and us (!), lots of good investment fortune - literally! :)
9 Sep '13
I am waiting for update should be in the morning, there office manager is contacting act md.
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