Member Info for Banburyboy

Gord it's a legal requirement for a public company to have an AGM.

Your article refers to private companies.

So no conspiracy and accounts take a while.

Aimmaster how seriously thick are you ? All the guys that are going are Non Executives and Chairman.

Look up the principle function of the non executive and chairman

They have failed in terms of independent oversight and assurance obligations they have to company its shareholders and even yes the Board.

Refer to what we know about the Deloites report all of it GOVERNACE failures.

They have to go. They know it and that's why they are not standing for reelection.

Your ridiculous conclusion that they are going because there is more bad news is exactly that ridiculous.

They are going because of the Deloite report and wholesale failure by the non executive function. Nothing more or less.

AIM master - Sidera won't walk this is their once in a lifetime opportunity..The fact they are letting contracts in spades following commercial due diligence means they are a going concern even if Sidara walks. The danger is a highly dilutive rights issue.

All of the Board not seekiing reelection are the non executives and Chairman. This is right as these are the officers entrusted and paid for "independent" scrutiny and challenge, which clearly failed.

What is interesting is KG. Everybody here blames him. He will suggest it's the Independents above rather than him that failed. . The major PI will make or break if KG is relected.

If he does stay, it's because he's the continuity candidate IMO to get Sidara over the line.

If they vote against KG I'm hoping they have a Plan B . Neil Bruce ? I'm unsure about Sidera.

Really interesting one thing I'm sure SHs will get more than 18p and WG I'd not going bust.

I guess the point I'm trying to tease out MK is

- production is not one big well but lots of little ones. 362R was exploritary and huge to prove a resource. Once the field is proved it then has multiple small wells producing.

SR362R cost $7.5m.

What I'm fascinated by is what do the small producing production wells cost ? 500k a million.? I think knowing that would help the layman evaluate and understand what's happening. Adon seems switched on and Oilworker so really reaching out to them.

Like you Womo I'm no expert.

I know 36-2r was huge in terms of scope and exploritary to prove the resource inform CPR etc

I'm guessing production is lots more smaller and far cheaper wells grouped around the 36-2r area.

Keen to learn more and welcome anyone more informed putting me straight re production.

I guess the million dollar question is do we put it into production or sell on.

Also I know the drill massively derisked ZPHR but what's the worst case scenario re risks as of today ?

Sorry for all the questions but keen to be better informed.

Thanks !

Exciting and interesting.

A headline that stuck out for me was Jan 24 it produced 1.1m BOPD from 18,674 working Wells.

That's an average of 59 barrels per well.

Many are misunderstanding in my opinion the ZPHR test results from a single well.

Compare that result to the average, consider no franking water retention etc. Consider ZPHR have sole ownership rights on the basin.

The above plus the eye-watering numbers from the Willaston article demonstrate why Malcy thinks 20p might be conservative and CH is beaming.

I'm hanging onto my shares this is In my opinion a once in a lifetime opportunity.

Thank you obmuj - that's lit up blue and I can open it.

I agree Icecool.

Taverhams view a third it goes bust is wrong.

WG have won more contracts in 2025 than ever. These are material and with big players. Part of due diligence process prior to letting new contracts is accessing financially sustainability of WG.

Lots of uncertainties here but going bust I would ascribe a zero probability.

We just have to hope whatever arrangements prevail have SH interests front and centre.

Sorry - the article is being discussed a lot.

The link didn't work for me.

Really appreciate if somone could post it again as I'm struggling finding it.

Many thanks to anyone that does

BB

Gogadget another key board warrior.

Pretence of posting something relevant to HBR before the onslaught begins.

The interest will be the voting on Kens reappointment.

Little guys will vote against it in droves.

He will be doing the rounds with the big PIs who will either support him or dump him.

If its the latter they need a contingency plan.

Interesting times

Please posters do this board a favour filter Rookie.

Virtually everyone else has years back.

The board has been brilliant for quiet a while and I had forgotten him completely.

It's easy to avoid the nonsense.

Ice your post concludes the Boards entire strategy is about saving their jobs !

If it was they are pretty stupid having an AGM ?

Last time I looked in you were claiming having an AGM without the accounts was a con by the Board.

Your postings contradict themselves.

If the big PIs want KG gone at the AGM he will be gone.

My view he will go at the AGM or shortly after and if no other bid WG will go to Sidara for a minimum of 35p.

If I'm right and KG goes what's the next logical step in your argument ?

I just wonder if a little share issue after hours today.

The share issue milestone !

Lots of consideration points and stages but RRR guaranteed to hit twelve milestones a year.

Is that what you meant by I wonder what milestone Stephen ?

Sadly Speculative RRR is run by the few for the few. In this case major PIs and lenders. One character is front and centre Mr SPL Helpful.

If his head and is ego were not so outrageously large he could have avoided all the pain he gets.

His nicname on these boards was Loose lips Lundy for that very reason. Maybe he likes being infamous ?

Https://www.prnewswire.co.uk/news-releases/regulatory-news/wood-group-john-plc-result-of-agm-843170144.html

No - they have be done diligently and right. Board don't dictate completion. Auditors will be looking at all long term contracts which will require up to date information from a variety of sources. They can checked booked profit to situation as now.

No conspiracies ICE.

What's more interesting is the level of support the Board get at the AGM and mood music

What I would expect is a trading update albeit generic and perhaps some titbits on accounts which should be really interesting. If they have worked hard the board will want that front and centre interesting time.

I see 35p as a backstop plenty to play out here. Any one buying in at low prices before suspension will do well in my opinion.

ICE call they do have a legal requirement to have an AGM before 30th June.

Given all the governance issues they have had up to now you seriously suggesting they ignore this ?

You are over thinking as normal and adding two and two as five.

Give it a rest.

As late as October and November 2024 the company was issuing its famed precise and factual RNSs promising production by the end of 2024 in both jurisdictions.

Given we subsequently find out in late March 25 the kit was still in customs a very tall order.

In my opinion all nonsense to allow the big PIs to offload shares in the final quarter of last year per my earlier post.

The wording of any DRC news is crucial and personally I don't think the market will react to anything other than evidenced and visible cash.

They will see the housing , PPP nonsense for what it is.

Anyway morning Stephen . What's this milestone do you think ?

Work to do for your clients

Dukey it's a recovery play / cutting losses for Helpful Bolitho and Topham. Take each step logically.

1 - They invested in shares originally at SP s far higher than now. Capital Loss

2 - They lent company money at eye watering interest rates. Principle loss

3 - They have a gain in accrued interest but can't get it in cash. Unrealised Gain.

4- The accrued interest is no good so they switch to both a conversion [ CLNs] and the mother of all dilution [ 0.035p plus 0.035 warrents,] The percentage of the company they control is in my opinion once warrents are converted 90% plus of RRR.

That's the here and now.

Bell is successful they sell into the rise and convert. They get there money back and control the company. What do ordinary Joe's get ?

Bell is unsuccessful. They will have secured the loans on the company assets.

Main one is Soma - $3m which is realisable

Kenya / Cote / FASO are mothballed.

They make a loss but not as much as if they did not take the action they did.

Bell has screwed the lenders on DRC but they have mitigated those losses.

It's now a question of the longer the DRC fiasco goes on with no result the larger the lenders loss. They will pull the plug and say enough sometime and the delayed AGM is key to that date

Absolutely fascinating stuff and a window into how bent AIM is. Helpful there front and centre.