Member Info for 3cardbrag

You only have to look at the number of shares in issue to see where the problem lies. We have roughly 9 x as many as SLP so you could argue our SP would be around 35p if our board hadn't been so liberal with placings. But then again, would we be where we are now in terms of potential but for the placings?

Pocko - it's not that clear cut. They also announced on 6 November a further investment of £100k in Vardar, followed by an RNS on 8 November stating a raise of £250k for investing in Vardarand for working capital.
What's not clear is whether the £100k came from the raise or existing funds

Can't help thinking our size is a factor in the way the Swedes are behaving. Can't see them pushing Glencore or Vedanta around like they do BEM.

You know what, I would be too embarrassed to stay at the helm after several years of such dire performance. Clearly doesn't have much of a conscience

I for one certainly wouldn't mind seeing a graph like that for JLP in a couple of years time.

Fact - Company has recently been reluctant to press the start button on a legal process re Kallak.
Fact- At a time when coffers are already low, company has invested a further £50k in Vardar.
This suggests to me that either A) We have the green light on Kallak or B) Budgie has finally lost the plot.
Hopefully the former cos a lot more will need to be pumped into Vardar before we see a single penny return.

Snaffle - You're an AIM investor and you DON'T believe in God?

This has to be a good play at these levels from what we have seen over the last year or so.

"Unfortunately, we're no longer in the EU. :-("
No longer in the EU but within a transitional period where we are expected to follow EU laws and rules, and, one assumes, the arrangement is reciprocal..

Hi Eric. Is it so fanciful I wonder? SP hit a recent high of 12.5p in early 2017 on a wave of positive vibes about a decision from the Swedes . Shortly after that we pressed the leave start button and the SP plummeted. News wise and SP wise it's been downhill ever since, with the Swedes doing seemingly everything in their power to frustrate our application. Coincidence? Stranger things have happened. Cheers 3card.

TBTT re 12.23. Too right. As anyone who ever invested in VOG will also testify.
A large oil play in Siberia which mug shareholders were told was worth at least £50m. Trouble was it was landlocked and surrounded by oligarch fields and where the local infrastructure was owned by the state machine.
BoD fobbed us off for years with stories of buyers for the play but later made full writedown provisions on it having spent £1m pa on care and maintenance.

All I would say is let's get it sorted before January 2021 when we should have finalised a trade agreement and left the transition.
I'm convinced that certain members of the powers that be are using the Sami as a smokescreen to hide their objection to a British and Ex-European company gaining the exploitation.

Talking of SXX, our SP is now virtually the same as that of SXX. Absolute blooody disgrace. Should be ashamed of themselves.

Yet another financial pen pusher suggests we are being lined up for a killer of a fund raise or a buyout. Either way, a massive hit to long suffering shareholders. And if anyone is sceptical just look at sxx
Shareholders left with no choice and huge losses. Why don't these toerags ever appoint someone who is an oil and gas expert?

You've got us all on the edges of our seats now. Care to share? lol

Baron2 - If you google Complaints To The Stock Exchange this comes up.
"Examples of types of situations where you should contact the Exchange:
1. You wish to complain about the way the Exchange operates its markets or the services it provides. This includes complaints about the Exchange's actions
2. You believe that a company whose shares are traded on AIM may be in breach of the AIM Rules, in particular in relation to the timely and accurate disclosure of information to shareholders.
Seems to me there is a clear cut case of shareholder abuse for the BoD to answer to. Most will have lost a lot of money today even after previous sustained losses. Is there any financial redress against the directors? Wonder how much Dik's Dubai pad is worth?

Bigeasy - with regards to the non payment by Eneo, and the suspension of facilities since September, should this price sensitive information have been released to the market earlier? It's all very well continuing to invoice Eneo on take or pay but if they're not paying, that makes a big difference to our finances.
Where has all this debt and credit guarantee finance come from. Hard to to see how a financial basket case like VOG could secure any funding on anything like affordable terms. When I saw the line about a new 60km pipeline, my immediate reaction was could we be heading for a Foo Mark Two where an offshore company lends the money against a royalty deal.
Thinking now that there is no light at the end of the tunnel for at least another 12 months if at all and if SP recovers some today I'm throwing in the towel.
Final insult would be Banjostring popping up to extol the virtues of our wonderful board.
I suppose one silver lining is that they appear to be cutting out Logbaba, and therefore Foo's royalty, for future gas supplies.

At least we know why update took so long. There was feckall worth telling us.

AGM's gonna be interesting this year.
Where's Banjo when you need him to sprinkle a little positivity?

So after all this wait for any information, what do we get?
Gas sales massively down.
Equipment being used to remove stuck gun is itself stuck.
Massive backlog of payments by our biggest customer.
Nothing on Matanda work programme.
More debt finance.
More pipeline when we're not even making a profit on the erxisting pipeline.
CHL legal action hovering over us.
Total shambles and now expect to see us back to 6p or less.