PYX Resources: Achieving volume and diversification milestones. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Contact your broker and vote them out. The ii app gives you the option. Tell the BoD what you think of their poor Comms and performance. A total shambles and they should be ashamed of their lack of results.
C.
I would love to go just to say how cr4p the bod has performed and do they think they are worth their exorbitant wages but I sold out a little while ago, took me ages to do it in tiny 10K lots as there's just no market (big red flag).
Two years ago I thought this share was going to rocket, everything was going for it unfortunately I didn't take in to account the continued falling production in Romania, the mistakes made in the drilling and work overs since (and no it was not just bad luck it was more bad management) and the total lack of comms/promotion.
If N2 is a failure as well (almost certainty from past experience) then it will be a long time before any new drilling is commenced. Basically I just lost confidence in the bod doing what's right for the long suffering shareholders and by the looks of the sp so has the market, if anyone's going to the agm please ask if the bod are prepared to take a substantial pay cut due to their mismanagement.
That's about right Research but don't forget there are reasons why we have lost faith. It's not just we don't like them cos they are paid more than we think they should be
So this company has $37m net assets or 29m gbp. Market cap is 5.3m gbp so assets per share are 29/5.3*current sp so 26p per share, a chunk of which is cash. The current share price is that shareholders have lost faith in the management. If they can do one good thing though there shld be a turnaround
Last agm vote there was 5.5% against JA and 4.2% against AF. Expect it to be higher this time.
02...Would you be kind enough to tell me how I put my vote in. Do I do this through my broker (ii)?
With a salary of 650k a year, there will be candidates to replace him. Last year's "mini revolt" should be a major one this time around.
Is anyone attending? Holding it in Jersey and not online seems a good way to get no one to turn up
Yes it is time to vote Auld out. The buck stops at the top.
What a shambles.
Put my vote in already.
They should be ashamed of their past years performance.
C.
sn88 to get so out you really need a replacement. You standing?
3 weeks until you're finally out JA. Enjoy it
Cheers Adon, 55+/- days until the next 'we tried but...' RNS
Rig moved some time in last week by looks of things.
Drilling a sidetrack will in this case be most likely quicker than fishing for old coil that is breaking up into sections. The KOP yet to be decided will be chosen by reservoir engineers and could ultimately give better production than the planned work over. Not sure it will show how effective the lift program will be though as it is a new well in many regards. Hopefully should have completed rig move by now and getting ready for next load of bad luck
Failure after failure following that debt removal. Just look at the chart for the last 2 years.
It cannot be down to bad luck all the time.
Incompetence feeding on itself?
Is it deliberate? (Sell off at mates rates)..
Stagnation due to poor planning and little new growth forward thinking.
It all starts at the top. The buck stops there...
BoD need some young bloods with alternative thinking, imo.
Time to turf out the pompous zimmer frame brigade.
Just look at the assets and then at the lowly Mcap.
It should not take much to turn this around with someone that shows interest.
Compare to sp on WSE.
The market is a harsh judge on failure and deliberate poor communications
C.
82% down. Research, to answer your question. The CEO needs to be replaced with someone who is more dynamic/experienced. There needs to be regular communication from the company using twitter etc. Rig on site type stuff, just basic updates. The competence of the operations guy is in question so would replace him. Failure after failure can't just be bad luck.
They then need a clearer set of objectives and be accountable for success/failure. Lower salaries, higher bonuses paid in stock.
It seems with W1 they'd need to drill a side track and run a new completion at hold up depth (ie where you can fit machinery down at). Quite hard fishing out old coils from what pple say. Anyone else an opinion? There seem to be lots of opinions here on how useless the management are but none on specifics of what shld be done
84.88% down
How much as a % are people down. The only thing the price has ever done is gradually decline
And no company buybacks as promised even price has halved since last buybacks.
Stagnation.
That is what happens when you do not communicate.
Old school'zimmer frame' mentality.
No ROI indicators from this clueless group.
So Mcap going down further.
C.
Will this go to £5m Mcap?
This BoD should be fully aware of what the market thinks of their performance.
A total shambles....
Not a single trade as the BoD seem to have gone into hibernation at this time of the year.
C.
Mcap going even lower.
Who is in charge JA?
A shameful past performance.
AGM not too far away...
Come on Sebastian it is time to turf them out of their comfort zone.
C.
O2 said it was cheap as chips at 1.8p, sorry that would now be 18p!... It's only that if they can actually get stuff out of the ground. Look at BLOE, producing less, but on a different trajectory having successful drills. Serinus literally seem to not be able to do one thing right for 2 years. That guff they add onto every failure RNS 'only 1% of Sabria due to low development blah blah' is pathetic and rings hollow.
O2... don't think it will. We are on a Serinus board and hold stock. All of us will actively tell people to stay away.
We need to push for a change at the AGM
In theory cheap as chips with a lowly Mcap of just £6m.
But will this attract any funds with the past performance of the BoD?
C.