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A.I.M. is unfortunately full of 'SCAM' companies these days, hence why it is finished as a market for serious investments. Too many CEO's like the two 🤡 🤡 with their noses in the trough misleading investors it appears? JMO Adyor!!!
Pretty much moniman.
Just Another S.C.A.M.?
Let's just say, if we can't renew it then our 2 cretins should be removed ASAP (I think they should have been removed ages ago).
I think it's quite easy to renew it although I have to admit I'm not 100% sure.
How can we delay if the permit expires next month unless we have some provision to extend it?
Itsawrap, mislead is an understatement & the price we paid for out stake is also an outrage which highlights their woeful fiscal mismanagement.
Yes we need a major to take LNe out to get us out of it.
I'm not sure how the Nomad let them get away with it.
Moniman, I think there's a very good chance CS will be a success. However I still think rbd overpaid, plus the revenue forecast is ridiculously optimistic, imo it deliberately mislead shareholders. It's hard to see how rbd will monetise the investment in the short-medium term unless LNe is bought by a major
Another S.C.A.M.?
Great so LNe are proving to be a cowboy outfit. Stunning DD carried out by our 2 fools eh. When you look at the antics they have been up to for years with CS it's hardly a shock is it ?
This is just one paragraph but summons it up
"We learn from the press – says LNEnergy – of the regret expressed by the mayor of Bomba, Raffaele Nasuti, for our failure to present the Hydrogeological Study, so much so that we asked the Ministry to block our Project. We regret that you have missed our PEC communication to the Ministry on 11 April 2024. In this communication it was specified that by the end of the current month we would send all the in-depth technical-scientific studies, as well as the counter-deductions to the Comments of the Public. In any case, we trust in his willingness to discuss the investigative work carried out, hoping for a greater protagonism of the territory on the management of the project". "LNEnergy has always demonstrated," the Company continues, "its sensitivity towards the territory and its respect for the population, approaching its investigations with caution and respect in the ways and actions, precisely in line with the requirements that emerged from the Preliminary Consultation procedure (for the sake of brevity Scoping) referred to in Opinion 601 of 14 November 2022 of the MASE".
I cant translate it !
I meant clueless when it comes to the O&G Space. They're clearly very astute at being paid a lot for failure.
P1D, yes it's a disgrace but they clearly want the saga to continue. I expect the horizontal to be put back to 2025 now.
25.04.24 https://www.sviluppocollesanto.it/2024/04/25/giacimento-gas-collesanto-la-lnenergy-risponde-al-sindaco-di-bomba/
29.04.24 https://www.sviluppocollesanto.it/2024/04/29/gas-vicino-al-lago-ecco-gli-studi-tecnici-2/
Nothing is happening at WN which is a complete disgrace!
Hardly clueless, they are being very well paid for failure after failure
"Money to burn or playing the long game"
or
The apples don't fall far from the tree and they're just as clueless and inept...
At least the family are feeling the pain as well.
2.55% to 3.92% as at 08 Feb 24.
Money to burn or playing the long game.
Jack
It would appear they've been doing that for some time now.
Uggu, I understand what you say about the CEO's and them being clueless. However another viewpoint not really usually portrayed is this. The possibility that West Newton initially was to be the major asset to be developed, but once it became apparent problems were to be encountered (which they were) could it be that a new strategy became their future 'playbook'. With all the millions already raised, the two decided to play the long game, one which would enable them to keep reaping in huge lifestyle salaries whilst playing on the side lines with other 'assets', those to keep the mug investors (us) contented for as long as possible.
S.C.A.M.
JD, I believe the strategy has changed because, quite simply, they are clueless. Victory was certainly not 'a result' as they put it under any metric you care to apply. Yes back in 2019 they went in balls deep on WN with a huge capital raise which has proved to not be enough. OK Rathlin screwed up the drills when the solution was already in plain sight (oil based muds) we are the majority shareholders with Oza (at the time ) on the Board yet we just nodded the drill programme through. A terrible error culminating in the funding crunch we find ourselves in. If a partner can be found to farm in I suspect we will be heavily diluted. No doubt our 2 fools will hail such a solution as a success.
Re CS they clearly stated in October last that an early production permit was incoming...incorrect it would appear.
Throughout their stewardship they have proved to be guilty of poor project management & decision making.
They have a history of airbrushing out their failures with no explanation.
Quite why we have joint CEO's is beyond me as I think neither of them are capable in their roles.
Just how I see it of course.
🤡 🤡
I see you have been unpacking your own personal characteristics by following me across to Deltic.
That just demonstrates that you are completely clueless and apart from hilarious one liners, you essentially have NOTHING to say.
Whatever floats your boat I guess.
Jack
Uggy100
I agree. The strategy has changed to that below, but the assets you mentioned were all supposed to be low risk assets at the bottom of the valuation curve.
As you quite rightly state, two assets left, which if successful could Multi bag the existing SP.
Unfortunately early adopters have loss a small fortune, as Victory was the only “success” but I don’t class Victory as a success for Shareholders.
I think CS has all the right attributes but it’s down to approvals and management to gain value.
WN the jury is still out as to whether Shareholders will see a decent return. So far it’s looking like we went all in, without the financial clout to see it through. We may see a “thinking outside the box” solution but the current situation is far from idea.
Jack
“Reabold’s current focus is on its two key gas assets that have strong parallels with Victory; West Newton (UK onshore) & Colle Santo (Italy onshore). Similar to Victory, both assets are highly material, undeveloped gas discoveries in Europe that could begin production as early as 2025. Drilling of the first development well at West Newton is planned for 2024 and we are awaiting full production approval at Colle Santo.“
JD I have to admit I was rather shocked by the size of their victory in the requisition vete which I put down to KS & co being regarded as being untrustworthy. As for the assets & strategy we'll we have several NS licenses which I believe will be quietly dropped over time. Simwell was a joke imo, Parta I don't think will ever be drilled & Daybreak, well the less said the better. I'll give you CS although 1st gas in 2026 will probably be subject to delay. Maybe we can sell our share beforehand as by my estimation we will be running on fumes by then. That leaves WN, a project they regard as being their flagship but show no willingness to progress it. A worry in itself.