Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Well done Bob; I assume it’s you and that you are trying to reach Jim’s level!!
In any event I think we will all be well rewarded here
Let’s just say a certain someone has been hoovering up more shares….
Answers on a postcard.
Given the market scare due to the Omicron variant I am pleased but nevertheless somewhat puzzled with today’s rise. Interested to hear other thoughts and opinions.
My last post, in reply to MadCrann, timed at 00:10, still appears under my Member Info, but no longer appears here.
In reply to Neocantus: yes, I intend to go ahead, but if you really think it's a sign of paranoia, you are free to dispute any of my analysis.
Here is my reply to MadCrann:
You need have no fear that I am going mad, MadCrann!
I thought it was obvious by now that I actually enjoy outing multiple accounts.
I am indebted to you for the new information and agree with you, after reviewing graybird's posts, that he too is TheShen.
I would be interested to know why you think he is.
If you take a look at the comments on 9 May (currently on page 238) you will see that graybird had a series of *****y exchanges with Tommy393, whom I outed as TheShen yesterday.
The exchanges were similar in style to the ones we used to see between TheShen and p5tvr on PVR.
When I saw them, I recognised the similarity immediately.
On the same page is a comment from you to graybird: 'For the record Wolfson also had the same pattern and you appeared to over exaggerately hate each other.'
Only three of Wolfson's 187 posts appear under Member Info, so it's difficult for me to decide about him - EXCEPT for one thing: I long ago outed wolfsonshaz of advfn as TheShen.
graybird = Tommy383 = Wolfson = wolfsonshaz
Only one of them - Tommy383 - is posting at present.
Graybird stopped two years ago and Wolfson four years ago.
TheShen has opened so many accounts that he can hardly even manage them.
My last post, in reply to MadCrann, timed at 00:10, still appears under my Member Info, but no longer appears here.
In reply to Neocantus: yes, I intend to go ahead, but if you really think it's a sign of paranoia, you are free to dispute any of my analysis.
Here is my reply to MadCrann:
You need have no fear that I am going mad, MadCrann!
I thought it was obvious by now that I actually enjoy outing multiple accounts.
I am indebted to you for the new information and agree with you, after reviewing graybird's posts, that he too is TheShen.
I would be interested to know why you think he is.
If you take a look at the comments on 9 May (currently on page 238) you will see that graybird had a series of *****y exchanges with Tommy393, whom I outed as TheShen yesterday.
The exchanges were similar in style to the ones we used to see between TheShen and p5tvr on PVR.
When I saw them, I recognised the similarity immediately.
On the same page is a comment from you to graybird: 'For the record Wolfson also had the same pattern and you appeared to over exaggerately hate each other.'
Only three of Wolfson's 187 posts appear under Member Info, so it's difficult for me to decide about him - EXCEPT for one thing: I long ago outed wolfsonshaz of advfn as TheShen.
graybird = Tommy383 = Wolfson = wolfsonshaz
Only one of them - Tommy383 - is posting at present.
Graybird stopped two years ago and Wolfson four years ago.
TheShen has opened so many accounts that he can hardly even manage them.
Sorry - one more thing, regarding the financial reward for the management team. There isn't much cash flying around at the moment, and maybe not many more options to write (I didn't know that).
But if they farm-out/in successfully there will be a massive payout potential for them. No shortage of cash at that point! Who would get in the way of that when they start on a 5 year journey to deliver a major project?
Neocantus - I don't share your worries about management motivation at all. My rationale:
1) Just because they've made a lot of money in the past, doesn't mean they aren't interested in making more. People like money and always good to have more, in most people's eyes.
2) People like to do what they're good at. I don't know how old the 2 new guys are but if you're very good at something, why stop doing it 10 / 15 / years before retirement? There are a million examples in public and amongst people one knows of people in high profile, powerful, remunerative jobs that want to be carried out in a box.
3) This one is more conjecture, but JOG (if it goes) will be a cool project to be involved with. Green, amazing financials, and it's a self-contained brand new platform and project, not just hoovering up a portfolio of late-life assets. (I confess I don't know the Ithaca story in detail).
4) No-one wants to have a failure and bad stain on their hands. If they took over now, and the project was a load of crap, when it failed in 3/6 months time they'd look bad. To me, them coming on board is a guarantee that is a punt with a decent chance.
Positive reaction to the SP today - that is the important thing at the moment.
Longwait, have you ever considered that it doesn't matter if a million people say it, or if noone says it? What matters is whether "it" transpires to be correct, and therefore whether you lose or earn big money. But by all means go ahead with all of your linguistic analysis and paranoia.
I am with LONGWAIT here, fed up of all the:
Poster A “Where is Poster B he knows all about this”
Poster B “Doom, death spiral, insolvency, raise, broken phalangey”
Poster C “Thank the Lord Poster B is here to save us ignorant investors from ourselves”
You are right - top team, capable of doing what needs to be done. But you're asking the wrong question. The real question is what's in it for them? They have made tens of millions onIthaca, they certainly don't need to prove themselves. And they sure don't need 250kpa gross when they will have to work hard for it! So preaumably they want to do another Ithaca and make many millions each. The REAL question is how will it be made worth their while? Jog is almost at the authorized options limit, they can't pay them millions a year in salaries as they ain't cash rich. Only scenario i see working is taking it private on the cheap, they get equity and make a killing in some years. But current holders get locked out of the big rewards. Happy to hear other thoughts and scenarios.
Longwait, we hear you. I personally feel you are being consumed by this character with so many personas, I understand he like the beast.
I know you are concerned about him plaguing this and other boards, I am more concerned about you. Please understand this isn't easy to write because I genuinely like you and fear that you will take this message the wrong way.
Leave him be, move on, I'm almost certain Graybird is/was the The Shen and another you have mentioned.
It is clear to see that this character is driving you crazy, don't let it win.
In case you are not already aware of this, Greener191,
jtsouthern146 = theshen = theshenagain = theshenagainagain = p5tvr = longwait = bones698 = papillon = mrstevens = rbonnier = catswhiskas = catchingmice = leewain = wolfsonshaz = chimpeska = kakapo1 = hsfinch = goodbloke1 = luisfrg = dawallwork = venomousviper = big brother8 = chesty1 = bad robot = owenski = ngms27 = b33661 = duck_and_dive = flash crash = a catholic man = bigberty99 = jaforsadi = daler1966 = abeljeavons
Not all of those accounts are active.
Over here, he was known as TheShen (now banned) and TheShen = ThenShen = p5tvr = ranger4 = vampirekitten = sylviasmother = Sharetrader123 = Mamms = LuckCounts = StanleyPro = oilpimpdxb
Again, not all those accounts are active.
In case anyone thinks this doesn't matter, consider this: if ten people on a thread post negative comments on a company, an unwary reader might think there must be something wrong with the company's prospects because so many people can't all be wrong.
He would think entirely differently if he knew that all ten were the same person.
Hi everyone, I've been reading this thread for about 6 months (and the other one) - lurking but without commenting. Thought I'd pipe up on the management team change. I'm confused why the market hasn't reacted more positively.
RL and VG were perfect for the first stage, but ill-suited for the next. RL is a vastly experienced rock-watcher, smart enough to see the value in the licenses, and put together a extraction plan in theory. But if you saw him in interviews, I'd say he's too old and frankly past it to bring the a major development to life over the next five years. Compare RS, he's (comparatively!) young, and has - quite literally - just done exactly what JOG holders dream of, turned a small E&P minnow into a player! Who would you want better?
VG is a ex-banker, skilled at putting the deals together but with zero real-life experience of building an operating business that is drilling into the ocean floor, managing platforms etc etc. His replacement GF is again, a proven success at this.
Why would these guys come from all the success of Ithaca, and take on anything but a project that they felt was a goer. These are not AIM lifestyle guys. I would also say that although salaries are high compared to average UK, an associate in an investment bank can make 300k in a good year (in the right spot). This project has risk of falling flat, and good people won't through 5,8 or 10 years of working life for equity only.
Les Thomas in the mix, although a 'non-exec', I bet will have a strong hand in the action to advise AB. Stanton was a oil-major grandee, and provided credibility but not practical experience like Les. But he's stuck around anyway.
In short, I think it's a silly conspiracy theory to say it's a failure and lifestyle takeover. OGA has made it publicly clear that without electrification, forget it. So that is a very good reason for a delay. It's also a good reason to change up the management team to people who really can deliver a major north sea project in GBA. I think previously the only option on the table for AB,RL and VG was a flip to another operator. The new board gives credibility to a possible major project lead for JOG.
Finally, I wanted to comment on JT Southern. He is obviously very well informed, and has taken one cynical look at an old field and cried 'turd-polishing'. Beware recently-retired experts. They can be bitter, and the fact is he hasn't seen the data. Buchan was drilled with nascent technology in the 1960s. I'm no expert but the technology has come on, er, quite a bit in the last 50 years! I don't think the field itself is in doubt.
I'm very long, so maybe wishful thinking. Another capital raise could kill it (although that would be in no stakeholder's interest), and all sorts of unknowns that might mean all for nothing.
But the new management team is a bloody good thing and as insiders to the story, they've chosen to join up and commit. It's a great punt for them, us too. Good luck to all