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Saw this story and remembered the sad story of Kea and Puka... http://www.tagoil.com/news/tag-oil-announces-new-zealand-development-and-exploration-acquisition/
Started: spudulika, 24 May 2016 15:01
Last post: spudulika, 24 May 2016 15:01
Looks like IRGS's infamy spreads...
Started: Da_Gee, 24 Nov 2015 15:05
Last post: Dandi777, 25 Feb 2016 18:46
Imagine that is a Racing Certainty !
There is no question in my mind that it will have been a related party of IGS who scored the assets for basically free.
http://www.lse.co.uk/view-general-chat-thread.asp?forum=general&thread=BBE82602-73D3-4DFD-8015-0C4D0B61C85F#post_12711454 I've set this up in case anyone wants to keep in touch it's general BB titled KEA Shareholders!!.. I will be intrigued to see how the permits are linked to IRGS and his pals.. as they have sold them way too cheap!!!..
Started: Da_Gee, 22 Nov 2015 22:33
Last post: Dandi777, 25 Feb 2016 18:45
They are obviously ACE at shafting their Shareholders !!!
to run down the company and have impossible targets.. why did they need to raise £3 million when MEO presentation they would need $nz 2 million which and our raised money would have been close to $7 million nz 6,942,366 to be precise.. why did they need to raise triple the amount to get Shannon drilled??? and then when they sold the PUKA site they left us with no choice either as if we cancelled we would have to pay them odd 200k for cancelling it which would have been to give the assets either way.. they have been shafting the shareholders and do not know they did this to us.. Some serious mis-managements have been going on and left the shareholders shafted!!!..
The words Rot in Hell come to mind - thieving scumbag
ALF94 - Theoretically yes to both. There could be a last-minute reprieve if a white knight appeared. We could trade again and we could apply to relist in some form. In practice you're more likely to find a roasted snowball! Or the AIM will be cleansed of the incompetent/liars/cheats/down right crooks of management! Neither strong possibilities. We are now basically in the hands of the receiver. If the oil SP situation wasn't so bad (for us!) we might get some value for Puka/Shannon prospect. Maku seems to be in hands of another receiver. But buyers probably won't pay much. Any outstanding creditors will be first. Then undeserving pay cheques for some of the BOD...then something for the receiver...then what pittance is left will be for shareholders. Including the BOD. Still can't understand how/why directors allowed the £3m Primary Bid bid to fail. Could have totally transformed the whole picture. The cynic in me almost thinks they wanted it to fail...Puka/Shannon then gets passed on to some other cowboys for a pittance....wonder why? Only that failed. So now it's the receiver who will decide what happens. Might even get a cheque for £1.99. But probably not.
Sorry if this is a stupid question but is there a chance of kea trading again on aim and if so would your shares still exist? Thanks
so corrupt it's unbelievable, at least I've learnt what really happens when investing in company's like this with a small amount of money.
Started: myshare2477, 27 Nov 2015 07:57
Last post: myshare2477, 27 Nov 2015 07:57
wrong board...sorry
Started: bouncer, 27 Nov 2015 07:05
Last post: bouncer, 27 Nov 2015 07:05
RNS out, reckon casing will start sunday/Monday so last chance saloon for newbies
Last post: Yes2014, 24 Nov 2015 09:39
Yes, correct.
As this share is now worthless you can set the cost of your investment against any gains you've made elsewhere in 2015-16 for CGT purposes.
Started: TippityTop, 23 Nov 2015 00:58
Last post: splinos, 24 Nov 2015 00:43
TippityTop please could you give me some advice on how you reduced your losses after tax, thanks
In the end I lost 4k. I can consider myself lucky. Dagee my mate, I never meant to be too harsh on you I just wanted you to see how all the "noise" meant nothing. All the BODs shares, all the "rich mates" etc. etc. it means nil. Have a punt on a share purely based on the factual info. Mind you, that's what I did and still lost!!!! However I kept it down to 4k ( or 2k after tax). Good luck everyone on the next ride !!!!
Started: Da_Gee, 21 Nov 2015 18:04
Last post: splinos, 24 Nov 2015 00:42
Da_Gea, I would be interested in staying in touch if you set a forum
Harsh but fair.
I'm rather stunned you're going to waste more time on KEA. Look at Afren or Matra. Far bigger companies with far more active discussion boards. Afren had groups created because there was a real suspicion of corruption there (not including the actual corruption from a couple of years ago). People were up in arms. The Matra crowd created a mow unused discussion board. Afren now have one person still fighting but everyone knows he's wasting his time. Their discussion board is hardly ever used and that was only created months ago. You need to let this go and put it down to experience. You will most likely receive zero as shareholders are third in the list of those who receive pittances when a company liquidates. The group on the rung above you might (serious might but highly unlikely) get a percentage of 1p in the pound. Private shareholders will get nothing, nada, zilch, zero. The bod sof these companies are experts at what they do. There is no legal case, I can assure you. Being very blunt with you, it was pitiful watching you ignore the blindingly obvious for such a long time. Now you're doing it all over again. GET OVER IT for your own sake.
this forum will be deleted and there will be no more means of communicating with other shareholders in this company... I.m considering to setup a forum outside the this BB GROUP and want to trace what they do for PUKA and the MAUKU income... we have sold them too cheap!!.. 250k including infrastructure.. I can't believe there was no major revolt from out 3% plus holders.. we could have teamed up with them etc.. and complain to the FCA about false practises regarding the two II's being given the nod before the drill results... I just can't let go and think my 30.5k is gone down the drain!!... any lawyers out there..
Started: AmyPie, 23 Nov 2015 22:17
Last post: AmyPie, 23 Nov 2015 22:17
AmyPie, you're the one coming across as patronising. I like DaGee and that's why I spoke bluntly to him. He has obsessed about this dog for too long. And as I stated ((which you chose to ignore or possibly couldn't see from your high horse) I do have empathy. I opted the braver, honest route rather than the simpering idiot route.
I wasn't gonna post again but cast my eye over here this evening and couldnt help pass comment. Harsh, fair or downright rude and patronising? Whilst you clearly make some valid points, Kev4, the phrase 'it was pitiful watching you ignore the blindingly obvious for such a long time, GET OVER IT', I don't feel is necessary or appropriate when you are addressing people who have lost life changing sums of money through the 'legal' but morally questionable behaviour of the 'individuals' at the helm of this particular ship. Whilst I don't doubt that your knowledge and experience in this arena far outweighs my own, I pride myself on my ability to maintain empathy and not to come across as a heartless, patronising douche bag even when I know I am right. Particularly when the subject matter (to repeat, people, myself included, have lost life changing sums of money based on believing conniving, cheating (legal or not) 'businessmen') is as sensitive as it is. Make your point, by all means, but don't be a 'Chump' about it eh? N.b. Chump WAS NOT the C word of choice, I hasten to add!!! Cheers all, the good guys anyway. I am letting it go and moving on and it is probably wise, for your sanity and your stress levels, to do the same. But I do fully understand anyone who is reluctant to do so, believe me. Xx
Started: Da_Gee, 22 Nov 2015 22:28
Last post: Da_Gee, 22 Nov 2015 22:28
Seems like Celiera are looking to bring the wells online... WHY on did KEA management think of this.. why raise £3million just raise £1million and get the well fixed and online again..and improve on that!!.. we would have been break even but would have got us through the difficult period until oil prices were up.. Just bloody peed off our management are short sighted and were concentrating on too much stuff and little on securing an early income to be stable.. Puka oil accumulation - Shallow oil accumulations produced from 2 wells. - Discovered in 2013 - Produced at 110-115 barrels/day under long term test before shut-in January 2015 due to mechanical problem and low oil price - Recent assessment suggests 600,000 barrels of 2C contingent resource (100%) - Investigating potential to work-over Puka-1, which if successful would trigger recommencement of production at Puka
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.
Started: Kev4, 19 Nov 2015 17:32
Last post: Kev4, 19 Nov 2015 17:32
...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.
Started: laxeymouth, 19 Nov 2015 14:13
Last post: laxeymouth, 19 Nov 2015 14:13
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
Started: Da_Gee, 19 Nov 2015 12:59
Last post: Da_Gee, 19 Nov 2015 12:59
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!!..
Started: AmyPie, 19 Nov 2015 12:18
Last post: Da_Gee, 19 Nov 2015 12:46
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
Started: spudulika, 19 Nov 2015 10:18
Last post: spudulika, 19 Nov 2015 10:18
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 .
Started: Gerhart, 14 Nov 2015 21:54
Last post: Gerhart, 14 Nov 2015 21:54
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.