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Mogger, thanks for your valued contribution, speaking sense as per normal unlike the usual clowns on here.lol.
Sounds similiar to me, I just want to try and galvanise some voting support.
As stated in the past even if we get through this, I do not want that man in a position of responsibility / influence...let alone drawing wages.
Seen it too often in this business: idiots in charge. Not all the time but many oil exec's have gotten away with some hugh losses: inept decisions lack of process, lack of pre planning and prep, try and cut corners then spend double on rectification. When it goes deep six: make the cuts on field hands.
Penny "wise", pound foolish is the common term.
Any way, your point is taken onboard and i'll wind it in.
Best Rgds Sft
Surfit I do not entirely disagree with you regarding the salary and bonuses...as stated previously I abstained when the vote on remuneration happened with about 3 others at the last AGM...perhaps I should have had the guts to vote against but at last years AGM I still believed the project would go ahead....now I am a bit more sceptical but for me there is not point in selling my shares, I'm about £80K down and selling now would sustain me for about one or two months, so there is little point.
That said I don't complain because nobody held a gun to my head when I bought into Falklands Oil dream, It was always a bit of a punt for me, but it will still hurt a bit if it all goes 'blue tits' up !
Valid point, but as stated what would they say. I am right? I do not think that is going to happen.
I questioned them in the past ( pre development info gathering and contractual safe guards) and was informed I should contact PMO.
They have not reduced their salary and in fact allocated themselves a bonus...what does that say?
Do you disagree with the issues raised, if so please enlighten me.
I appreciated that it may be getting a bit over done and will reign it in..... until nearer the agm. It more for those that look in...rather than long termers.
Any info update from the BoD on OM? Reflection of their attitude.
Respectfully & Rgds Sft
Surfit ,....Are you not even going to try and ask that question...what is the point of continually griping on this forum unless you are going to actively try and complain to the BOD directly? Its a bit like not voting in a General Election and then complaining about the Government you get?
Q/A with these guys would not be of much value (imo). They would bluff it and their track record speaks for themselves.
The seminar from Rocckhopper: 22 Months in the life of sn oil company
This video was in (I belive 2014) and REALLY demonstrates the RKH managements attitude towards money that is not theirs.
Fionas speech (as has been proven) shows the top down driven past and CURRENT attitude projected and lived by Moody and his 12 Monkeys
Check out around 16:39 then again 18:39, 19:00 onwards....and all this was BEFORE the cash from PMO has been squandered...from previous fund raising
19:00 is typical "only then did we realise how much consultants cost....."
What the F*CK are we pay their wages for...folks.
Oil development is not cheap, I know that.
We would monitor vessel costs and account for each minute! of vessel time..But I know the difference between a management that cares and those that do not.
A certain Subsea service company blew nearly 300mil in Brazil. Hard earnt profits squandered. No one got sacked either!
Use your VOTE
If I remember correctly I think Q and A was about 45 mins last year....so are you going to organise the questions?
Conertoes ... How long do you think a AGM lasts, there would never be enough hours in a day to answer all the questions the rkh board would have to answer from disgruntled investors, one or two select questions required to put them on the spot and not sway.
If the AGM is held via Zoom or some other remote access wouldn't it mean that more people, who have a shareholding, would be able to attend as it would not require a trip to Welbeck Street ? Every disgruntled share holder here could then get involved if there is the opportunity to ask questions of the members of the Board present? I am not sure how it would work but there must be other companies who will have to run an effective AGM via the internet?
Ralph, its an opinion and a debatable counter is always welcome?
I err more to your frustration and disillusionment but...
Will you add your vote for Moodys/Stewart removal...from the past, if I remember your holdings are not too signifcant but all votes will help?
I only hold just over 230k No. of shares so am a long way shy of being a "significant" investor, but its def a lot for me.
I have appreciated you are sick of the failings/excuses and have been weathering it for a lot longer than my error made in 2016.
Mogger talking nonsense.
Ps I had to call iii to get my voting form from them for previous years agm.
Hi Mogger, thank you for taking the time to reply. I also want to say your contibutions to this board have always been objective and informative.
I agree that the challange to develope such a site are immense.
Shell developed the Orman Lange project from scratch and faced many site development, not financial) issues that were imo more challanging than Sea Lion: Building of Nyhamna, prepping and laying the PL down the Storegga slide the slope terrain, water column variable currents, template installations, HXT installations extensive large 36" to 42" subsea pipe lay is one of the longest in the world..back to the UK. Good overview on:
Note: Total are facing a REALLY interesting development challange off South Africa
But we are obviously not at the developement stage are we. I fully agree that the 2013 crash was a disaster for the project and the know Argi issues..its the actions both before (contracts) and after (money squandering, very bad investment decisions, Snr wages ) of Moody and the BoD I have come to see and belive are a real danger to the companies survival.
PMO's issues are an obvious factor but good and tight contracts could have protected us more.
I also agree that mindless post disparaging the company is pointless and I continue to filter those that do....but I do I belive I consistantly remind as you suggest people to use their vote. It may seem a bit laborious but as you indicated with the numbers that voted against last agm...it appears to be required.
I unlike richer supposedly "informed" and supposedly brilliant investors have reached my ability (and nerve) to continuely average down. But that is my problem and not others.
Like ADFN bb Cyan/Sch etc etc I wish you and others like Much continue to input and debate (and point out (my) errors). (-:
GLA. Use YOUR votes
Good post Mogger
Great post Mogger
Mogger you have totally hit the nail on the head. When the vote came regarding salaries at the last AGM only about 3 people in the room abstained, I was one on them, and nobody i could see voted against. It would not make any difference anyway because of the big block votes.
You can only attend AGM and vote if you can prove you hold shares...an easy thing to do if you have them, so maybe there is a clue why there are so many here who think RKH and its BOD are dogs. I would like to see in these times a crisis the board take a pay cut, but removing them altogether would achieve nothing in my view.
Nothing will happen to Sam unless the city boys push him over...imho
Switch off and come back in Aug-Sept 2020. Hopefully by then the
Coronavirous is under control, The POO is $40-$45 range and the FID is the
talk of the town. Between now and then, keep following / trading the FT100-FT250 Companies, there are great opportunities to make few £ks.
P.s. Bluey, Thanks for the BP nudge, it wasn't on my radar till you mentioned it.
Made £kk (hold none at the moment)....Great Call, Thank you.
Moody is no worse or better than many in charge of AIM companies.
Rockhopper has had its fair share of bad luck over the years ( earthquakes/3 elections/brexit/ covid) that nobody could have predicted. but I agree that money has been wasted over the years of course. However, we are still moving in the right direction. For most of the companies involved, Sea Lion is the most important development for the next 10 years. They all want it to succeed. Look at Dril-Quips last update for example.
I asked the same question some months ago........
"can anyone show me a company that has found and then developed a 1 billlion Boe virgin territory oil province in less time than RKH/PMO are doing?"
No one yet has given me a decent answer which suggests to me that it is peoples' expectations that need correcting.
As to this band of "disgruntled investors " here that continually complain about the management board; there is only one way to get your voice heard that could potentially then result in action. Vote at the AGM. Complaining on a faceless bulletin board is pointless.
The problem is that these "investors" that say they hold millions of shares either don't vote or conveniently forget their voting slips on the day of the AGM. All rather suspicious to me!
Here is last years voting results. Only 874k votes against Moody! It will be interesting to see the voting this year
Wonder if they've bin tested?
Citizen. Spot on.
The narrative of 'Gozzie' et al is right out of the Rusky troll-farm playbook: cause disruption and distrust and all aspects of society in NATO countries; even RKH.
Far more plausible than been traders or shorters IMHO.
Yes found an artical with a date on it cheers.
Where do you stand Mogger: pro Moody? Do you belive he has done an adequate job?
I look at the likes of the Rockrose BoD and see results, commitment and an ambition to move up?
I obviously do not see that with Moody..from all points previously raised.
It was January this year
Found the sourse artical 18th Jan 2020 (Not 18)
Rockroses sp peaked in 16th of Jan 2020...
Again good find Mogger, appreciated.
Hey Mogger, good find....was this artical back in 2018? How did you dig that up? Was their share price was around 120p before that and rose up to around 320p by Feb 18...do you know why that would be? What happened after? Any other relatef info?
They do seem to have some support though...share price was pretty good before virus...of course there board has not issued as many as our leaders have....kerrrrching as our BoD would say.
Let's see what happens if oil goes over $40