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He would if it was any good and would also back it himself
Double up a Owner of a race horse wouldn’t tell you to back his horse
Imagine having the owner of a race horse telling you to back his horse when he wont even back it himself.
Its no relevant what. he does tbh, if the bod thought the share price would return anything they would buy, simple as that, Simon doesn't even hold £10k of his own company, ask your self why none of them want shares........
I agree and disagree. I don’t think it is a directors obligation to buy stock of the company providing they are contributing in a professional way. If Arnott was actually doing something of value then ok. I am having a hard time thinking he is adding value since he left his other company in that public s$&tfight.
How many shares does Arnott hold?, the supposed finance guru who has been in the background since the Whitby days. Well it's a big fat Zero, much like his contribution to the company thus far. I will give 'The Gringe' some credit for buying some, however peeps on here have held far more than that in the past.........
A lot more cash will be needed before any income will wash over costs.
Same old story over and over again.
Joke company. It's never going to make any money for anyone but Corsair and their crew.
First round funded Whitby retirement. Now it's Simons turn.
Of matches and set fire to what you were going to put into this bag of s***, at least you will get a tiny
Bit of warmth from it
98% down Robbed blind from Whitby to todays
Robbers
rinse at repeat at its finest :)
Resolution 5
That the Directors be generally and unconditionally authorised in accordance with articles 5.1 and 5.2 of the Company’s articles of association to exercise all of the powers of the Company to allot up to an aggregate of 500,000,000 Ordinary Shares of no par value (in addition to the Ordinary Shares in issue at the date of the Annual General Meeting); such authority to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months after the date of passing this Resolution, provided that this authority shall allow the Company, before such expiry, to make an offer or enter into an agreement which would or might require Ordinary Shares to be allotted after this authority expires and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
Resolution 6
That the Directors be generally and unconditionally authorised in accordance with articles 5.1 and 5.2 of the Company’s articles of association to exercise all of the powers of the Company to allot up to an aggregate of 1,250,000,000 Ordinary Shares of no par value (in addition to the Ordinary Shares in issue at the date of the Annual General Meeting); such authority to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months after the date of passing this Resolution, provided that this authority shall allow the Company, before such expiry, to make an offer or enter into an agreement which would or might require Ordinary Shares to be allotted after this authority expires and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
Resolution 1
That the Directors be generally and unconditionally authorised in accordance with articles 5.1 and 5.2 of the Company’s articles of association to exercise all of the powers of the Company to allot up to an aggregate of 4,000,000,000 Ordinary Shares of no par value (in addition to the Ordinary Shares in issue at the date of the General Meeting); such authority to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months after the date of passing this Resolution, provided that this authority shall allow the Company, before such expiry, to make an offer or enter into an agreement which would or might require Ordinary Shares to be allotted after this authority expires and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
Resolution 11
That the Directors be generally and unconditionally authorised in accordance with articles 5.1 and 5.2 of the Company’s articles of association to exercise all of the powers of the Company to allot up to an aggregate of 1,500,000,000 Ordinary Shares of no par value (in addition to the Ordinary Shares in issue at the date of the Annual General Meeting); such authority to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months
Resolution 5
Resolution 5 authorises the directors to exercise all of the powers of the Company to allot shares of an aggregate of up to 3,000,000,000 ordinary shares of no par value (in addition to the ordinary shares in issue at the date of the Annual General Meeting), being the Second Tranche of the Placing. This authority is to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months after the date of passing this Resolution, provided that this authority shall allow the Company, before such expiry, to make an offer or enter into an agreement which would or might require ordinary shares to be allotted after this authority expires and the directors may allot ordinary shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
Miker, little heads up.....
Here is where the company really looks you, they have just announced the age, look at resolution 5 as below, this is a carbon copy of what they always do.
Resolution 5
To appoint Lubbock Fine as Auditor of the Company to hold office from the conclusion of the meeting to the conclusion of the next meeting at which the accounts are laid before the Company.
To authorise the Directors to determine the remuneration of Lubbock Fine as Auditor of the Company.
That the Directors be generally and unconditionally authorised in accordance with articles 5.1 and 5.2 of the Company’s articles of association to exercise all of the powers of the Company to allot up to an aggregate of 1,000,000,000 Ordinary Shares of no par value (in addition to the Ordinary Shares in issue at the date of the Annual General Meeting); such authority to expire (unless and to the extent previously revoked, varied or renewed by the Company in general meeting) at the conclusion of the next Annual General Meeting of the Company or, if earlier, the date 15 months after the date of passing this Resolution, provided that this authority shall allow the Company, before such expiry, to make an offer or enter into an agreement which would or might require Ordinary Shares to be allotted after this authority expires and the Directors may allot Ordinary Shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
1BILLION SHARES BOYS AND GIRLS AND THIS IS NOT THE FIRST TIME THEIS HAS HAPPEND!
exciting times ahead as some would say
Have to concentrate on Indonesia short term and let them so out Colter over time, nothing else we can do imo.
Well that explains what the hold up on Colter/Purbeck has been. Disappointing: I understand that 30% of the Colter South target was in the licenses we had been awarded. So what happens now if we exploit Colter South and the license covering the other 30% remains unissued?
Think the last well is meant to be BTN - 04 and not BTN - 14
Workover progress
The workover of BTN14 has completed. The workover encountered a larger than expected amount of scale which necessitated a mechanical clean out of the well, acidization of the wellbore and perforations which extended the workover beyond the originally expected timetable. BTN 14 is currently producing at an average production rate for October of 24.7 bopd.
The workover on BTN01 encountered a 11-metre column of scale which necessitated a mechanical clean out of the well and acidization of the wellbore and perforations similar to the work carried out on BTN14. The well has been re-instated with a larger water injection pump and is currently producing at an average production rate for October of 36.6 bopd.
The BTN14 is currently producing at an average production rate for October of 38.8 bopd.
So what is BTN14 producing? 24.7 or 38.8? Even the company dont know lol
Thanks Mike. The worry I have is because if the delay in the workovers, the cash burn must have consumed the first tranche they got from the note and they need to reach 150 bopd to get to draw down more. They must be running out of cash to complete the workovers. I am sure the loan note holders will agree to more drawdown but it will be costly. IMHO FB
Patience has served me well in the past, it may or may not here but I do not rely on money I invest, doesn't mean I am happy in losing it either:¬)
Miker, I feel for you my man but a little is better then nothing.
I do honestly wish you all the best but these guys are toxic.
See my last post, I am locked in. I am fully aware of the situation.