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A sign indeed of another 8% drop
We’re a Sub Contract Precision Engineering/Fabrication Company Scooby working in every sector, MOD, O&G, Mining,Agriculture, Horticulture, Power, Renewables, Food Processing, Medical, Marine, Construction, Industrial Valves, Waste Disposal to name a few. It’s not the BBC’s take on Engineering with someone sat at a computer , it’s hard graft, shop floor, stressful, dirty, dangerous, yet highly skilled for little reward. Working to tight tolerances of 0.0005 of an inch or 0.0127mm for those that aren’t bilingual.
Take that as a signal(!)
thoughts on the latest RNS ?
Amtech
Glad to hear that matey,
I have 2 sons that are in The Banking sector, one is in charge of the city HBOS Lloyd’s Banking group
The other is in the city with Bank of Ireland just started as a Graduate
I m being told that although interest rates are low they will be putting rates up, Crazy I know, apparently there will far more tightening now on lending than ever before, yet banks are told to help out businesses and people, yet they do as they lie heat again after being bailed out by the British Tax payers, disgraceful considering, may I ask what industry your company is in?
Cheers Scooby, she seems to be on the mend but still talking like Darth Vader
The information I’ve received goes something like this:
To qualify for the £10k you have to have a business rates value of less than £15k we are above that so don’t qualify, the £25k is for businesses in the retail,hospitality and leisure sectors so we don’t qualify for that either and the banks are like I said earlier. I’ll be ringing the bank again Monday to speak to someone with a higher IQ than last time. I’ve been banking with them for decades not that that matters these days. Thing is I don’t need it at the moment but might in the future depending on how long this goes on, just want to have it there as an option. Furloughed system should be up and running next week apparently so that will help with the selected few.
Ah Sgt Pepper and his Lonely Hearts Club,,,there was a group of Professionals who could put this mess right!!!
and don't forget MR Keyte
Just re read the rns and although still extremely unhappy about the lack of additional cost controls during these unprecedented times and the really odd departure of Algy Cluff who was supposed to be retiring yet a few hours later was starting another venture things I do now note that
Pensacola looks a certainty regarding a drilling decision at the latest November which seems is governed by the licence
Cupertino is looking extremely promising
So not everything is wrong just some of it
Love me Greta , Greta maid
Never let poo come between us
When you get dark thoughts
Let me pump them all away
Standing by a dotty teacher
The world stage goes to reach yer
Filling in expenses in a little white book
In platts she does’nt look much older
Than Mrs Noddy Holder
Lovely Greta may I ask
Would you like to bask
In our garden for tea ?.
With apologies to Lennon and McCartney
Boracic,
What is the point of a lot of things company announce that costs money, they don’t care, it’s easy to spend other people’s money!
What is the point of a name change if it gets swallowed up by PMO or PMG ?
The BOD will know the answer to that one .
Yes , I am still hanging on here . Is it the Wilkins Micawber syndrome in effect ?
Hi Mike q
Well maybe we will find out in a few years, but needs to be passed by shareholders! I would vote for it as Cluff doesn’t have a great ring to it, and I think it’s time For a new name, I still think it’s because partners don’t want to be associated with Algy, but that’s my tale on it, of course I may be wrong, but then again I could be correct !
Stay safe fellas !
Savannah Petroleum will be Savannah Energy next Monday .
Is (was) Cluffie with them ?
Sorry I can't remember from the book .
mike unless I have missed something, the share options approved last July have set base prices at which the SP must have exceeded for 30 days before exercise. The first exercise being this July when the SP must have exceeded 1.75p for 30 days prior.
The next exercise point is July 2021 or later when the SP has exceeded the agreed escalator price
Unless there are caviats within the option agreed it is in the interests of Msrrs Nunn and Swindells to enhance the SP.
That is my interpretation and trust it occurs
Why isn’t anything clear with Cluff Natural
mike/scooby
Scooby you may have a point if the International operator does not want to be associated with the name Cluff even the the joint Licence application would have been made by CLNR and a another.
It is an intriguing point
What has been happening in recent times is the share option price has been set lower and lower I hope we are not going to see share options awards at these levels
Scooby with respect I don’t think that is the reason for the name change it was hidden in the results and it doesn’t make sense to do it at this time as it is adding more expenditure
I am wondering whether to contact the company or write direct to the regulatory authority as am not happy there have been too many random things going on and I don’t think they are likely to culminate in my best interests
All imo
FD read these few paragraphs with an established international operator !
I would say this is the reason for the name change buddy!
32nd Offshore Licensing Round
Following success in the previous major offshore licensing round in 2018 when the Company was awarded six licences, the Company is pleased to confirm that it has submitted multiple applications for additional licences in the UK Oil & Gas Authority's latest 32nd UKCS Offshore Licensing Round.
The Company's applications are focused on its current core operational areas in the Southern North Sea gas basin and Central North Sea and are designed to be complementary to the existing portfolio. The blocks applied for contain oil and gas prospects that are consistent with the Company's strategy of organically growing its licence portfolio to provide a balance of near and longer-term drilling opportunities.
All of the applications have been made solely by the Company, with the exception of one which has been made jointly with an established international operator.
The OGA guidance indicates that licence awards are likely to take place in summer 2020. Further announcements will be made in due course.
Success in this licensing round would further expand, enhance and diversify the Company's existing portfolio. The Board views the blocks applied for as being highly prospective with many containing undeveloped discoveries and exploration upside which could significantly enhance both the pipeline of potential drilling opportunities and the overall prospective resources associated with the Company's portfolio.
When put n the way you do Mike, it does at the very least look suspicious.
Apart from those issues, the thing which puzzles me is at a time fiscal frugality the company are acting in ignorance which is not in the best interests of Shareholders, small PI's especially. I have always had in the back of my mind the levels at which Executive options can be exercised...the lowest being once the SP has reached 1.75p and progressively upwards year on year. The BOD can prove me wrong but at this time I am yet to be convinced we are working towards those increased Shareholder values. Time will tell, but time is not on their side(BOD).
As stated the CFO position is not clear, as you mike, pointed out her report could have been written by other Contracted Accountants and often are.
FD
I thought everybody had missed that snippet which is quite a huge factor to be honest, it was hidden amongst all the jargon very cleverly, I think it’s a combination of distancing from Algy, as the city isn’t really a great lover of him, and his past business associations with President Mugabe!
Same as Todd Kislev with GKP **** sticks, so a new name, a new brand maybe Shell insisted on it, also another major linking up with us in that last RNS, did nobody read it?
Amtech sorry to hear about your Mum fella, yes it’s all a massive stress for many people, and companies, luckily enough I am fine, others won’t be, the government are paying up to £25,000 not £10,000 Why don’t you qualify?
I think something is going on
Algy retirement for 12 hours
Algy share options sold at a premium
Massive fund raise years ahead of requiring cash
Random CFO appointment out of the blue
Now this stupid name change hidden in final results
Share price absolutely caned for over 12 months when supposedly the company in best shape ever
Come on what is going on because it will come out in the end?
Mike it could be an explosive event if it happens at a venue.
Unfortuneately Accountants often inhabit a different Planet and can regard PI's as an irritation.
Do wonder where Michael Spencer fits in to what is going on?
If as you suggest a reverse into Deltic is planned, what will the regulators attitude be?