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So the KEA saga, or tragedy, comes to an end. I have been in since the beginning, and when I should have lost faith, I didn't. I am not even going to bother saying "I should have sold then...", because it brings nothing except heartache and the inevitable feeling of stupidity. Sorry for all the other investors out there. I wish you all much better luck in the future.
...for a very long time now. Sorry for peoples' losses. I should mention shakeyourmoney who had been calling it right for a long time. I saved money by listening to what he was saying instead of blindly arguing every single point he made. It's been a major lesson to me to listen to both sides equally and not just automatically support the so called positive viewpoint just because I had money invested. So thank you shakeyourmoney. He's probably been banned - turns out he was right. All the best to everyone. It's good to see people who lost so much money are carrying on with their lives despite this horrible experience. All the very best.
Let's hope he doesn't come back to Aim.We can't all be wrong.This was a good prospect a few years ago with a good chance of success.We were all told the same thing,that's why we all got involved.Somewhere along the line things just started to get mismanaged.To me this is a serious missed opportunity in that region.Can't believe I've lost so much,especially under these circumstances.
Happy to hear things are better now for all involved..Hope this puts none of you off in future as there is life changing shares out there but Kea proves all the research in the world and great fundamentals along with a Bod with a track record means nowt if he is in reality. .a clown. The assets being sold for pennies is a joke...the production station was worth much more than that alone.Something is rotten in KEA thats for sure....As for pursuing any recourse I think he really has had enough of your resources. .Financial and spiritually but hey its up to you...I got out on day of duster at 1.3p old money and in hindsight that was a result.. making me one of the lucky ones!A lucky duster day?...and was so furious at him and myself for me not getting out when he let Rawson out the back door...a flag I ignored because I thought "hey..rawson must be wrong because Meo must know more...."....Not realising Meo were also Clowns.......The scary thing is IGS will resurface on Aim. .somewhere at sometime but this time we will tag team the punk and deramp and pour scorn on whatever that POS floats so that this doesnt happen again ..Not on our watch anyway ;)) And dont worry Guys ....one day in the karmic swing of life....he WILL get his x
the bills are paid off.. if any don't mind getting something back rather than nothing.. even £20 for Pizza would be good IRGS.. hope you starve for the rest of your life and somehow end up in Jail!!..
Hi Amypie - My personnel life was not in the same situation as yours but as a young professional when I came into this share.. having done my research and thought this was a small company run by a BoD with previous success stories.. and due to the savvy past I believed in them.. I too had many instance were I could have bailed out at break even at 15k at 10.5p at the time.. and then i had invested more totaling 30.5k and again on that Friday i could have sold out at 5k loss.. before the RNS hit on Monday... the 2 II's coming out during that week must have been given the nod by the BOD or knew the outcome before us.. it was a complete sham.. and shows KEA did not manage well at all... they had all there 5 fingers everywhere.. we had spent money on Seiemics that were not a priority and did not Focus on the PUKA as we should have done.. too many mistakes and delays.. Delays meant the cost was being used for running the company day-to-day and not actually doing anything!!... it's a disgrace IRGS.. you should be ashamed of your self for running a company like this.. as to why you did not rescue it your self shows the confidence you had in your own company.. PUKA was sold way too cheap.. and we should have retained some royalty or 10% rather than giving the whole thing in a firesale.. we were not that desperate.. and with the money from all the Assets we could have had a small stake in the STEP agreement with MSMN or something.. there is soo much they could have done.. who can we cry to no one i guess the FCA won't look into this company.. or shall we call the Nz Police.. for fraud..blown away million 20++ 30k for me would have had a good wedding next year or a new car.. crazy to say the least.. all curse IRGS
Hello fellers. well, it's been years since I bothered commenting but I guess this is my last. I was of questionable mental state when I originally invested (my husband had left me with our two year old and I was now entirely physically and financialslly responsible for us both). She is now 8! Following that initial investment, and after sound research despite being clinically depressed at that time, I continued to invest, with faith, perpetually attempting to bring my average down. To date, I have lost more than £30k. Our future has been affected and I could not be more mad with myself. Full stop. I still remember that valentines day a few years ago when we spiked and I thought Thats it. get out now at break even when I was in up to £24k. But I didnt. One bad choice after another. So, here I am, saying goodbye to £30k without so much as a stroppy e-mail or phone cal, because, alrhough I do think some activity has been suspect, I made bad choices (understatement). I feel so much for everyone in a similar financial loss situation to me and wish you all well for the future. By from this idiot. Amypie. Xx P.s. There is light at the end of my tunnel as I am now happily re-married and have turned our lives around but, honestly, this farce was a hindrance not a help! Take care. Xx
The board should be shot for what they've done to the company, but I suppose as long as they've lined their pockets.
And that's it
I must say .. It's been painful..
Gerhart, for collecting more loot to pay themselves ,doing what exactly would be an improvement on what they were doing, it wasn't looking after your interests or the other shareholders cash, the comedian in Mr Smith is suggesting we all stump up some more so he can go at it again. ever heard the one about the chairman the board and the ventriloquist .
I emailed the Co when they announced sale of the assets. Never got a reply. And still don't understand how they can be thrown away for a pittance. Puka was gerating revenue. But the money obtained in the sale is nonsense in comparision - despite the oil price slide. And I can't remember where, but there was mention of Puka originally been closed because a contractor had dropped a piece of equiment down the hole or such like??!! Like if there was a contratcor problem, wouldn't we have sued for lost revenue. And Shannon - supposedly our bright future if they had been able to fund - a pittance again; same for other once other great hopes. I still smell a rat here. It still seems incredible to me that these things could not have gone to contacts/friends etc for future rewards. And now they need to raise cash to keep the Co going - ie to pay directors for doing what exactly.
Hi guys not posted for ages had a message from my broker , smith and his henchmen will be looking to see who else they can rip off my 50+ k was for my sons at 68 will never be able to build that again they kept saying spend your money dad , I feel so angry there will be no criminal comeback having said that I do believe what goes around , well guys life continues Da-Gee wish you well for the future .
I've learnt a lot from this share.. and it has been bad luck I guess and management had the wrong priorities.. I've had corporate notification action is well so ,my 30.5 is gone never to be seen again!!! It is crazy that young successful professional individual who worked hard for his money and put a lot of effort in has lost a large some of money to these rats!!.. You would have thought that a guy with so much experience would indeed know how to run a company.. but it's come to a point where even our listing on the AIM is of no use.. no one used our platform to gaim access into the Market.. I'm sure a number of large holders could have put in a requisition and remove the board and put in a new one in.. gosh i just find it hard to believe this is it.. no one else has come to the rescue or taken KEA off these people.... this is just insance and believe they will not get anymore funding or I doubt they are doing anything and simply closing each light in each room before closing the door on the final day!!!..
sounds like a bit of a miss use of words, shouldn't that read (our) investment needs, in essence we just need more suckers like you to fund our mismanagement and mistakes, no reason to use our own cash now is there when we can sucker all you unsuspecting, Mr Smith isn't from Nigeria by any chance ,just popped over the boarder from Rhodesia. kind regards,( i'll say.)
what shall we do mr smith what shall we do, who in their sound mind would trust you and the rest of the kea bod with as much as a sixpence for the parking meter after your disastrous management of the company over the last 5 years. your note on the claim by the drilling company against the nz subsidiaries is interesting indeed as it appears that the Puka permit appears to have been re-managed into other ownership after the claim was lodged, this on the surface looks as if you were protecting yourself from imminent failure of your defence of the claim. this action can be clawed back by the liquidators. mr smith ,a bit of free advice don't embarrass further why don't you climb the sphere again and do us all a favour and don't come down if you do decide to ,try falling.
something the board of Kea isn't, from this day forward why would anyone gift them more cash to squander, they have already blown 20 something million with no result for the owners of the cash injected, run for the hills if you can still run... when the chips are down these monkeys slide, sledge, hide, distort the facts and camo assets not good persons to be supplying more cash too,it will never be seen again by you.
I think for us chaps this is just planting the seed that it's all over.How are they going to raise funds.This to me is just giving us a time frame as to the finish.Can't believe that I have turned so so bitter towards kea considering how enthusiastic I was a few years ago.There is very little as a forward plan to me in the rns.Just a case of seeing if they can getting backing from any friends left.So much to offer several years ago.This had so much potential.What a wasted opportunity.Guess we will never know where all the money/investment went.Really really enjoyed this board though over the last few years.There has been some brilliant comments regarding research and possibilities.I often think that sometimes the real supporters/private investors should be in control of some companies,especially this one.The research/time that has been spent on various topics is quite staggering.Enjoyed it all just a shame it nearly done.
are they going to raise more funds from the market.... incredible..
In other words they want more money. An absolute disgrace.
Totally agree with rongo. .....oil prices or even the sector had really nothing to do with kea.I obviously have let myself down with kea.Did a lot of research,probably about 5-6 weeks of digging around looking at everything that had history and future information connected to kea.Jumped in and even topped up on various occasions.Why is there no one to pull them up.Let myself down big style here.Just goes to show,don't believe the hype or even expectations.
unfortunately for the Kea shareholders is that the main contributing factor to the failure of this company was not the markets nor the oil price but the repeated failure of management, between them they have proven them selves unable to run a celebration in a brewery .i think that the shareholders had not been aware of what total lack of sensible decisions which later surfaced into the public arena ( all the hype was still being promoted at a time when the co was going down the gurgler) when they did it was far to late for them to react before the company tanked this is not uncommon on the AIM board, the turning point for the Kea demise was when IGS employed the monkey called Richard Parkes as MD, little did he know at that point, (or maybe he did know but never the less couldn't have done his due diligence at all) how absolutely useless he would turn out to be, when he did finally acknowledge his mistake took no steps to rectify a very bad appointment hence the total failure, once Parkes was gone IGS tried to rally the troops for another 3 million had already spent 20million but the magazine had been exhausted and that my dear friends was the end of Kea Petroleum as we knew it.,. the shareholders are only able to make decisions based on the information they receive and if its garbage its unlikely they will end up making a good/or best decision as they have discovered.
Morning, can I just say I'm genuinely sorry for anyone on here who has seen their investment slide, and hope that by some miracle things change soon. I also want to say that is it not obvious that these small oil explorers on AIM especially as there capital base is normally small, are inherently very risky and any money invested here is a bit of punt. Therefore, I can't understand why anyone would put anything more than a grand or two thinking it might work. I mean isn't better to put your money a bonafide fund (I can think of several) and simply go for a smaller reliable return than play Russian roulette with small cap oil explorers.
I hope these scum get arrested and charged and sentenced for their criminal activity that have ruined many honest people and families Kea bod shame on you,,,, I hope you rot in jail
IT APPEARS THAT THOSE STILL HOLDING KEA PAPER DONT DESERVE AT LEAST THE COURTESY OF BEING KEPT INFORMED OF WHATS HAPPENING ,THE LAST INFO WAS POSTED ON THE 30TH SEPT WITH A DIRECTOR RESIGNATION NOT THAT THERE IS ANY VALUE LEFT (BUT). UNDERSTAND THE LITTLE REMAING ASSET ( PUKA PERMIT) WAS SLIPPED INTO AN ENTITY THAT WASNT BEING PERSUED BY NRG. STORY IS THAT ONCE THE LIQUIDATORS HAVE A LOOK AT THE TRANSFER THEY WILL HAVE LITTLE CHOICE BUT TO CLAW BACK THE TRANSACTION,THEN THERE IS THE OPERATING WHILST INSOLVENT PROBLEM THE DIRECTORS MAY HAVE TO EXPLAIN.