Member Info for 3cardbrag

You're absolutely right. UK industry, and politicians in particular have become lazy and apathetic whilst being shackled to the EU with all it's control and regulations. They've also allowed EU conglomerates to take over our major industries, many of which have been shut down and transferred to EU countries, whilst also hoovering up the tax revenues.
As a trading nation we need to step up our game so we can compete better in the wider world.
Sure it will be tough for a while but nothing compared to what the Eurozone is going to go through over the next few years, especially without our £39bn handout.

And there are the major supermarkets trying to scare us about food shortages in the event of no deal brexit. Total bullcaca.
We'll just eat British food. Who needs blueberries from Romania and lettuce from Spain anyway?

Not a problem for me. Long term investor with 40k shares. Not a huge amount but with average approaching 50p I wouldn't want to lose it. I did join the share group and attend the AGM with others.

When I mentioned a few months ago on here to ignore the continuous spin from the rampers on here, the SP was around 1.9 having peaked at around 3p within the last 12 months. Since then the SP has continued to fall to current low of 1.16p, despite what the rampers would refer to as a plethora of good news.
They will keep on banging on about 2 tankers a day as if that is going to make you a fortune. IT ISN'T.
This share has been and will continue to be diluted to death and if you listen to the rampers, with their ulterior motives, and you invest, you will lose money. That's one of the reasons why there are hundreds of posts every week without fail. They hope to bamboozle you with positive posts which swallow up the negative or realistic ones.
I post as a previous investor who made a small amount out of this a few years ago but now wouldn't touch it with a bargepole. Good luck all but with 5.5 billion shares and minimal amounts of oil, don't put these into your pension pot.

All this petty backbiting is getting a bit tedious now. While you are constantly sniping at each other, you're not talking about VOG and effectively letting the directors off the hook.
One thing, bob come on admit it, you are mjones.

Are you talking reduction or deferral? And how do you know anyway?

It was mentioned earlier that income on current peak levels of production is $2m pm or $24m pa or £18m pa.
When looking at this it's worth also looking at the last 2 sets of accounts ie full year to June 2017 and half year to December 2017.
The latter states that they are making " efforts to reduce costs in all areas, and restricting capital expenditure to only those required to maintain existing operations or connect new customers".
The full year accounts state that the 3 main directors received salary and benefits totalling over £1.4m. There are 6 directors in total and they plus 4 key persons received a total of £2.8m being part of a total workforce of 164 persons.
Now I don't know how successful they have been in their efforts to control costs but I wonder how much of their efforts have gone into controlling the total wage bill of £4.4m.
The £2.8m being paid to the directors of what is still a minnow company is shockingly high. Let's not also forget that royalties of £3.2m were paid out that year.

Have to say I was rather encouraged by the RNS figures today despite my early morning sarcastic quip.
That's not to say I'm not convinced there won't be a placing. It's very much on a knife edge and whilst possibly the latest levels of gas sales may keep us afloat, the devil is in the detail and we never quite get to know just how bad things are with VOG until it's too late.

No fcuckin' way. We'll be paying for the last one for evermore. Unless of course you were being ironic.

There we have it then. Placing on Friday. lol

Placings. And that's the point, when we were in the early stages we expected placings because no money was coming in. And yet here we are several years later having been selling gas to a supposedly gas hungry Douala basin for 4 years now and still being screwed over by these greedy and inept barstewards.
One thing they are good at though is enriching themselves.

They were penny shares then. Equivalent today would be 10 million shares.

" A minimum work programme obligation of one exploration well plus seismic reprocessing to be completed in the first 2 years of the assignment following the Presidential Decree
As consideration for the assignment, GDC will become Operator and will assume responsibility for carrying out the Work Programme agreed with the Government of Cameroon. The agreed obligation for this work programme is one exploration and appraisal well plus reprocessing of existing seismic in the first 2-year period of the PSC"
Knowing VOG's track record on drilling wells you should assume that work starts by end of year one so not too much time to build up cash reserves. Bear also in mind that even before Eneo was .lost, we had used up cash reserves and started to borrow.

Endlessly pumping out names of places where you supposedly live is not the way to convince posters you are a genuine fun loving Afrikaan.
Anyone can go on Google maps and see exactly the same places without ever setting foot in SA

He accidentally swallowed a lexicon when he was a baby.
He is very well versed in latin, a seasoned investor and a legal expert according to his BMR posts, but he doesn't have an email address, or at least doesn't use it 'cos he says emails are not admissible in court.
Make of him what you will.

Whether he goes or stays, the royalty scheme will still be there sucking the profit out of our pockets.
At least with a new, hopefully independent, CEO this would be less of an issue.
It hasn't escaped my notice that the price of our big power gas has dropped around 40% since the first contract so Mr Foo continues to make money whilst our margins are squeezed and we are in debt to the eyeballs and possibly facing a very low price placing,

Stamford Street and The Strand are a world apart.
As previously suggested it looks like they are just using their solicitors as the registered office. Solicitors/accountants it's quite common.
But does this mean they are keeping the Stamford Street premises on. It's only a serviced office so they don't really need to be there and if they are serious about cutting costs, what better place to start. Would that need to be RNS'd?

Down down deeper and down!!!

Whether or not you accept Vig's assertions of criminality, there is no denying that the current board under AB's leadership has been dire for we long term shareholders.
And purely in that regard if nothing else, we deserve to hear a lot more from him as to what has gone wrong, why and, more importantly, what is he doing about it in order to reassure the OWNERS of the business and remove the rather nasty smell that hangs over BMR.
The lack of contact, other than threats, merely encourages the suspicions that abound around this company and is a disgrace.

"Financial Sane"
34083 posts on LSE.
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