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It is high time Cluff Natural Resources looked hard at themselves to get a farm out with Shell was promising ,however the shareholders have seen no additional value quite the contrary in fact, then we see the huge directors remunerations /bonuses and a new employee in Sarah Mc on the pay roll
Then we are told that the company name is changing there really doesn’t seem to be any focus on the priorities which should be to save money considering that well investment decisions have clearly been kicked down the road
For goodness sake Shell are having to save money yet an aim company with absolutely no income rewards themselves handsomely are imo overstaffed for the size of the day to day operations
But don’t worry they have proven ability to raise money
Get a grip CLNR or provide some proof of real tangible progress
Having recorded my concerns previously, nothing seems to have changed except the gradual decrease in SP. Execs continue to enjoy a "protected" remuneration where a large number of other PLC's have seen Execs taking a much reduced income.
We,Cluff, are not profitable, investors have taken a huge risk in the hope capital gains will bring it's reward in time. Many of us have/are very patient and have become concerned at the lack (No) risk Execs are taking.
In so far as the AGM.
Who will determine which 2 Shareholders are to attend?
Who are the 2 Shareholders to attend?
With modern technology why is the AGM not being broadcast Live?
How will questions be selected ?
Given Shell and OGA's actions what work is happening during the Void?
The questions could go on, unfortuneately the Ivory Tower doors are virtually barred.
Apologies I mis read the timescales.
Sim
Why would cluff need to negotiate with OGA?
We are ultimately the ‘remora fish’ in this scenario. Whichever way shell turns we go. I completely agree that the salaries are ridiculous in comparison to the performance of the SP however I’m not sure any other director in the cluff hot seat could have made any drill decisions come quicker. We’re still a few months away from NOV, but in regards to the Selene prospect, I would hope the management team are negotiating with the OGA that the current global situation has pushed back the schedule and that it is not fault of cluffs. I know I would be doing everything I could to do so. This is all in my opinion obviously and only time will tell.
Hi sjm
Thanks for the comforting post
They were the reasons I invested
However as you pointed out things have changed so in my mind Cluff Natural Resources needs to change and creaming off huge salaries when clearly timescales have been pushed right back is not good form it is very possible that Selene will never be drilled. I think the terms of the licence state Pensacola has to be drilled but I don’t know how far they can delay a drill after the 20/11/20
Hi Mike I too share your frustration as I have been here for years. Averaged down along the way to about 1.7p but sat on a sizeable amount of shares (for me). Were in the midst of a global pandemic which has shattered a lot of companies plans for this year. Ultimately cluff/deltic whatever it’s called is sat on some very good assets and will in time come right. The key here is patience and although shareholders here must be at the end of their tether just imagine what a lovely position we will be in once the gas starts to flow. Stay focused look for opportunity elsewhere to bide the time and hopefully we may have a positive RNS sooner or later. All in my opinion of course but good luck.
The directors need to be aligned with shareholders as an absolute minimum
This is being viewed as a lifestyle company at the moment where vast sums are being paid in wages when in reality nothing is happening to create value or is it likely to until 2022
Personally I want the company to cash up and return whatever is left to shareholders before it is all squandered
I have waited patiently for years!!
Morning Mike, the name change needs to be done in my opinion, but why it would take the price up is behind me, but I think it will, because it’s news, and might be seen as positive news, let’s face it Cluff wants his name back, and we want to give it back, I am hoping it’s onwards and upwards from here, we never hit the dizzy heights that others did on lesser news, nothing seems to help this company, not even Shell!
Hi Scooby
Hope you are doing okay
I am not sure what use a name change is right now
All it will do is waste money we should be conserving
Loads of companies have seen their directors take salary cuts during these times to conserve money but not Cluff Natural Resources it seems
The Selene well investment decision has been pushed into 2021 maybe while they determine exactly where to insert the drill bit and Pensacola in the 4th quarter of 2021
All the while the pool of money is being frittered away but don’t worry they have an excellent track record of raising more money it says so in the presentation
Please tell me I am wrong Cluff Natural by issuing a stonkin rns!!
Hi Mike,
I think they will take this up once the name change has been approved mate,
Surely to god they must have something positive to say after 18 months of absolute pain?
This does nothing except drop drop drop drop
There is still a massive seller yet there is never a TR1 to identify them
The drill decision on Selene is overdue but nothing from the company to explain
Mr S bought a reasonable amount of shares but the other 2 was merely a stunt to pacify investors
Come on Cluff give us something really positive for once!!
Don't forget the CEO will select questions to be answered.
Wonder which 2 shareholders will be selected to attend the AGM?
Get submitting your questions Mike, I’m sure you’ll have plenty. Just leave some room for others.
Thanks TITNM. Lets hope that the Allenby assessment is correct and this share flies. At present it is plummeting downhill however with big sells. May take a while though to get going again. GLA
I’m buying more in the morning I would be crazy not to
Time Shell told us the result of the sea bed survey done. Was there 33 trilion cubic feet of gas or not? This share is getting awful with millions of buys then millions of sells. Time for some information please.
Mike spread is because they are disguising buys !
And THE SELLER keeps selling
Looks that way, but real spread is much less as buy price is actually 0.81p. JOG's had an excellent day today up 22.5% with director buying shares in the open market. Shares are now up 40% having bounced off cash per share. CLNR shares many similarities with JOG and is now sat at cash per share. Expect CLNR to be next for a massive rerate. Time to accumulate ready for the move north.
Spread is appalling
Creeping up...
Beautiful chart. Certainly looks like it's bottomed and is ready to breakout to the upside.