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Its taken time, but we now have the transparency we've craved, the communication we needed and a roadmap and plan we can all research and follow.
I try and get the rampy nonsense to a minimum, but this looks primed to continue upwards for a good while yet, if anything positive comes of the North Sea assets during July, then anything is possible.
Whats sad is their seems to be more posts about Heid than UJO on this forum, which allows the ego/alter ego maybe to carry on pontificating, please let it be and concentrate on the company rather than a faceless individual
I've been one of the boards harshest critics, mainly due to their total lack of detail and information, well they have finally come up trumps and this now looks/reads a totally solid investment.
The response has been strangely muted, whether that's still a warrant issue or otherwise its hard to say, but right now at under 10p with 2 dividend payments within the next 4 months, its hard to see why you wouldn't want in.
Well done Majid & Co.
Maestro - you do have to apply a discount for a number of the following:
Insider dealings (as there clearer has been when things were going belly up)
Poor and late communication
Confetti warrants
if you add them into the mix, it gives a bit more balance and makes numerous others more appealing.
J, well if you draw a £600K a year salary from an AIM listed company and are continually late delivering news, you should expect criticism. Without those people you very weighty salary doesn't exist. So its give and take. Sadly the BOD have done alot of the latter, especially with the leaking of poor results as witnessed previously.
Now they have a chance to repay PI's faith who did standby and believe they were capable of turning things around, they should be doing all they can - but as yet they aren't - some people will not want to invest money if they believe the BOD classes them as an irrelevance.
I also disagree with J but for different reasons.
There appears to be nothing from the company in terms of ramping up media duties, interviews etc. Now considering Graham and Majid, were both quoted as acknowledging that they felt shareholders previous pain and that they had learnt lessons - there appears to be very little coming from that department.
When the dirty has been done (and insider leaks would suggest it was very dirty) then you need to go the extra mile to prove things, to enhance reputations, to rebuild trust.
They now have provided detail (which lacks in some areas as Tony and others have pointed out) now surely is the time to fill in some of those gaps and speak directly to their shareholders. Especially where the dividend is concerned, its very late and the "we are working in the background" fluff can only last so long.
Is the Canadian market seeing any of the II's selling over there?
The UK side of things is possibly being held back by the likes of Slater offloading, in quite meaty chunks. I'm more than happy for us to play second fiddle as long as progress is being made.
Alot of if's and maybe's there Maestro.
The update in Feb, gave info regarding a new field that they should have RNS in December as it materially affected our value. So lets not hold that up as a beacon of detail.
Divi was due Jan, Q update was due April - dates Graham and Majid detailed, here we are in May not knowing either or what we are making, daily/weekly/monthly. Which in our field is a basic to try and establish what our true value is.
If an update isn't here by the end of next week, i wont be a shareholder by the time one arrives, for all it should be spectacular, i'm not sure i can trust these guys with my money.
I wanted to say the same, but thought i'd almost certainly be accused of sounding like a broken record.
My faith in the BOD is now at the "why am i still holding this" stage, i have a date in my head where if we haven't received news, i'm off. I dont get replies to emails, they are missing dates that they themselves selected. If it was my own impatience i'd shrug it off, but its not, its information that we should all know and none of us do. POO is absolutely making this a sound investment case, but the BOD's behaviour is waving a big red flag for me.
Cut them some slack - for missing deadlines that they themselves set? I want it all to work out Maestro, but come on I3E management have been dreadful when it comes to timekeeping and investor relations and the Divi delay just shows that - that side of things haven't improved one iota.
I have seen very little from anyone questioning the quality assets, they will speak for themselves, AS LONG AS the board keep to guidance and timescales - which is why we are only at 9p
You could argue if you treat investors poorly (keep them uninformed and miss deadlines) then doubts naturally creep in - especially when this company has done the dirty on investors in the past.
Thats why newsflow and sticking to your promises are essential, we should be riding a crest of a wave right now, but yet again we are all clock watching waiting for an update.
If they had delivered news yesterday Barnyards, that will still have been later than Graham and Majid said it would be, so i'm not sure investors moaning about missed timelines can be called tiresome.
Its upto the board to address that issue.