Member Info for AndytheMKDon

We have just been picked up for a price equivalent to 11p a share.. !! Thank goodness the management set up the whole business model for us to be attractive for a buy out... But, wait a moment weren't we £2.50 four years ago.. !! Seems there might have been a flaw in the plan !!! Now under 9p a share, absolutely shocking management.. And as for all the "just wait for the results of Izzy 2" do people actually think they will tell us anything after they've spent all summer saying nothing of worth...

I get that bit, but how can the company go from what was stated as, a "transformational year" to a "basket case" within 8 months, if the directors are not responsible.. ??

Need to resign, it appears the cash position of the company was grossly overstated with the likelihood we will never find out, as our accounts will be muddied into Rockhoppers prior to financial year end. The auditors would also be culpable if proper accounts were published. What will the FCA do to investigate these shenanigans ?? Nothing as usual.. Just another case of an aim board of directors abusing its investors for their own ends. Such a shame as many of us would have held FOGL up as a shining light in an otherwise cesspit of companies and practises, the reality is they are no better than the worst of the worst.. Lets hope this merger gets voted down and the FOGL directors get shown the door. I notice the share price is being walked down so no doubt the BOD will try and convince us this is a good deal if the sp is say 8p when the merger occurs.. At least Dick Turpin wore a mask when he robbed his victims, Bushell no doubt will wear a smug grin, as the salary gravy train continues.

you would think it would be x + y = z but in reality RKH will do a share issue for 160m shares to issue to us at a price probably similar to what it is now, so yes the mcap will increase to something like £155M. If you check my maths then you will see I state we would need a three fold rise for our shares to be worth the equivalent of 30p which in turn means the RHK mcap would need to be in the order of £473M.. It's all hypothetical as most likely the main aim of this merger was for our BOD to line their pockets and sod the shareholders who have so loyally stumped up wedge for the last five years to fund their big salaries...

Oil in the ground is very difficult to value.. The extraction of oil in the Falklands is likely to involve FPSO vessels which are not cheap...

RKH currently have 300M shares in issue, so post merger its stated FOGL shareholders will hold around 30% of the new entity. This suggests there will be 450M shares in issue by mid December. It means RKH would have to reach an mcap of £473M for our shares to be worth the equivalent of 30p... The current macp of RKH is £104M !!! Which in all honesty looks very toppy given their fall from grace from the £5 days... If it smells of fish its usually fish....

Completely agree with you, for FOGL to have reached 30p on a good outcome of the next drills would have been possible, for RKH to reach 100p plus is a big ask. Another thing to consider is what will be the size of the enlarged share numbers in issue post merger !!?? For sure they will delay any results on Izzy until after the merger, which is why they have said results some time in January, last time the drilled Izzy they said it would take 30 days, now they are saying it will take anything up to 70 days.... Really... Taking the p!§§.. RNS in April stated: The well is anticipated to take approximately 30 days to drill and no coring or testing is planned for this well. A further release will be issued once logging is completed. FOGL is carried through the costs of this well by Premier Oil and Rockhopper Exploration

Even if the merger goes through it looks very likely Noble will eventually end up with all the spoils in the FI. In a game of three card brag the man with the most money going blind always wins as the small guy can never pay to see the cards... The days of a 40p FOGL and a 100p RKH are gone for a while me thinks !!

The markets are pretty luke warm about the whole FI story, some years ago this merger would have seen both shares take off in value, now it's just more same old same old...

I hope you are right, but I get the feeling all the Machiavellian happenings this summer have nothing to do with oil, it looks more like a game of poker between FOGL, RKH, PMO and NBLE with the outcome being the winner takes all.. !!! My guess at the outcome would be Noble end up with the whole shooting match for a song with the Argies placated given Noble are a US company and not British !!

The share price has been manipulated to facilitate this merger, how can we be worth a third of what we were six months ago with two new finds under our belt. Also, they will suppress any news on Isobel until they have the deal over the line.. So much for all the "free carries" we so say had on the current campaign, Nobles five month drilling of Humpback has completely shafted the company, maybe that was the plan !!!

There has been no sensible news all summer with shareholders treated like mushrooms.. This merger wasn't hatched in the last few weeks this has been in the offing for months as the legals and due diligence will have taken some time.. Maybe it explains why Falkland Holdings bailed earlier this year. I mentioned last week how shabbily Tim Bushell had treated share holders, for which I got shot down, now we see the true events i.e. we didn't have a pot to pish in and the BOD have dropped their shorts to try and salvage something from the ashes. Shocking management of the company over the last 12 months to render the company so weak that we have been picked off without a whimper !!.

Look up Halliburton... Even more involved with rebuilding Iraq and take a look at the current and past directors.. Quite shocking...

The comms have been poor on all drills not just Humpy, even you have been calling for CPR's on previous drills given the complete lack of qualified information. As I stated lets hope it's due to not wanting to over excite the argies prior to election outcome.. But given we have had two finds and an unknown at humpy is there really a reason other than poor PR why the share price is one third of what it was pre-campaign?? It can't be the oil price as it was at this level on the first drill...

We identified the pathetic PR and comms after the first drill, since then it's got worse if that is at all possible. Can only hope it's lips sealed until Argi election over i.e. next week and an avalanche of news follows, really can't see it though.. Absolute side show how investors have been treated with such scant regard.. Appalling Mr Bushell.. !!!

The information flow is the poorest I've witnessed in a long time. At the start of the current drilling campaign the CEO stated we would be receiving regular updates of activities, the truth is the best way for us to get information is to hold a séance.. I'm hoping it's linked to the conclusion of the Argi election on the 22nd but I'm not holding my breath.. !!!

The rig is still on humpty which suggests there could be some news, in the meantime the price is dropping as people sell believing we should be on the way to Izzy... How the hell do we get a rise on this stock other than hitting 2 million ounces of gold with the drill bit rather than oil.. I guess oil above $50 a barrel might help too.. V frustrating !!

Water into oil... hmmm that would rank amongst biblical acts... But hey this is AIM, so expect the un-expected.. There must be a reason why they haven't moved on, on the other drills they were moving before the drill bit was out of the water..

Válerian.. I hate AIM with a passion, like you having been the victim of many of the scams and boiler rooms which have thrived unhindered by the FCA for years.. Then to top it off the FCA publish below you or I are going to get seven years porridge if we do anything untoward.. If they went after the corrupt directors who run many of these scams they would have to build ten new prisons to house them all... nighthawk. your right of course, best ignore them. Ö

49,000 posts and that's the best you can do.. !!!