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broadly agree with londonfish 18:30, altho’ not with the maths
on percentages (how could a share lose 600%?!). osa was utterly
(and very predictably) useless for shareholders, but he feathered
his own nest as much as he could while some suckers still fell for it.
now ADME is unlucky enough to have randy connally
dabbling - yuk! sensible pis should take a look back at
the utter mess & huge shareholder value destruction randy
connally presided over at NCT/MYN before he slipped out.
given randy’s previous entanglements with MXO(/ADME), i would
guess that he may be hoping to use some kind of fairy tale about a
prospective sale of aje to puff up ADME’s share price & then unload
some of his stock / get a placing away. he posted enthusiastically
about MXO and its aje stake several years ago, when MXO managed
to use a story about selling aje to puff up the price and get a big
placing away … but needless to say, that story about selling aje
for lots of money turned out to be complete codswallop and
the supposed buyer evaporated once MXO had raised money…
(funny coincidence, that?)
Ginksy, Osa tried but failed miserably at the expense of the shareholders and all that believed the hype, this is using a polite word. He collected massive compensation and delivered nothing but a 600% decrease in share price while oil prices skyrocketed. It IMO, that he stayed as long as he could cream the shareholders money but now that is a wash, he is moving on.
Frobert i wouldn't call Osa leaving as the good news we've being waiting for. ..the guy tried a few ideas that could have made the company but failed to get over the line.
Yes he has sold for a massive loss , Its called karma
Given that he didn't have to earn the money to buy in the first place, indeed this was funded by investors like us - its hardly a loss not him ;op
Interesting to see under the Directors Dealings the OSA share disposals are shown as buys!
We seem to be back at square one
Until AJE is producing in Phase 2 - i doubt it could be sold for a great price - but its currently worth more than £2m imho
randy connally knows that MXO managed a big placing & a spike in
the share price several years ago, when MXO claimed that they were
about to sell aje for a good price. …but that claim turned out to be
false… ? perhaps randy thinks the same game can be played again?
Pump & Dump to allow an outgoing Director out
settle back at this level again until the last update - Barracuda Injunction and Settlement update
kind of expected this - market hates it (or has loads of OSA shares now)
Outgoing Director owed monies and now selling shares
looks like he sold the last of his 1.6m this morning
hardly karma, karl.
osa bought / acquired only a relatively small number of shares,
in comparison to his hugely excessive pay and perks package.
so although he’s lost a bit of money on the ordinary shares, overall
he has extracted a very large amount of money from this company,
osa did very well parasitising this company. i doubt that the guy
ever really expected to make money off the shares (hence why
he bought so few, just acquired a few as window-dressing, imv.)
Sounds possibly more like sale and invest elsewhere with Tennessee Black Gold
Initial production wont be until at least middle of next year
Yes he has sold for a massive loss , Its called karma
Literally 1 day after Osa stepping down he dumps a huge chunk of his shares with still 1.6M to dump!
Osa Okhomina dumping, huge waste space this guy, pump dump,
soz, “Tennessee Black Oil”, not “Tessessee …, my own typo!
randy connally /NCT had history with MXO (/ADME) even before aje …
https://www.investegate.co.uk/northcote-energy-ltd--nct-/prn/notes-mx-oil-announcement/20160317101500P27B5/
? so how well did that mexican venture go for randy’s NCT & MXO?
(messy tracing NCT thro’ MYN to AOGL into HE1!)
hilarious website, and some well dodge proof-reading. they even
get the name of their own company wrong at one point, referring
to themselves as “Tessessee Black Oil” under ‘Company Profile’.
interestingly, this is not the first time that randall connally
has been involved with trying to make money out of MXO
/ ADME, & with that same old story that they are selling aje:
https://www.proactiveinvestors.co.uk/companies/news/122066/northcote-boss-connally-pleased-with-mx-oils-us18mln-asset-sale-122066.html
so, how did that $18million aje sale work out back then?
& how well did northcote do for the pis invested there?
(? does northcote’s history inspire confidence in randy?)
Tenblackgold.com
? how long are you envisaging that it might
take until aje phase 2 is in production, dan?
I did say good news was on the way.. took longer than anticipated. Hope you all take your positions. Good luck :)
we should hold until Phase 2 is in production before even considering - a producing asset will bring in a better price
(align and others on twitter seem to be hoping that the
plan now will be to sell off the aje stake. will be interesting
to see what they can actually get for it, in the real world.)
given the past history of serious spoofing involving ADME
(e.g. johnny hon, GPDC, the so-called sheikh, DBI … it would
probably be sensible to check that tennessee black gold do
actually exist, and whether they actually have any money.
but working for the moment on the assumption that they do, one
wonders what they hope to be getting out of this? ( - let’s assume
just for the present that they *haven’t* been paid any additional
undeclared sweetener, as that’d just be way, way too naughty.)
likely then, either (a) they are genuinely interested in the prospects
of how the stake in aje can be transformed into a cash-producing
asset rather than an uneconomic money-draining black hole, or
(b) they already have some kind of interest or connection to an
unlisted O&E ‘asset’ which they hope to inject into ADME at some
point, using this as the rampy talking point to generate a share
price spike & a placing, which they could use to sucker in yet more
pi’s whilst giving them chances to dump. [… my own guess is (b).]
it’s good that worthless parasite osa is being ejected, but he’s done
OK for himself, extracting loads of cash from ADME for zilch outcome.
the remaining BoD members have all been complicit in enabling or
tolerating osa’s worthless tenure here, & they should all go too. ajmho.