Time for a change7 Nov 2025 08:00
Naheed Memon has now been CEO of Oracle Power since January 2019, nearly seven years, and the results speak for themselves.
The company still has no meaningful revenue, still depends on small placings to survive, and the share price has collapsed from roughly 0.23p when she took over to around 0.04p today — a decline of more than 80%. That’s before factoring in years of dilution which have destroyed any real shareholder value.
We’ve had endless RNS headlines about “progress”, “strategic partnerships”, and “potential developments”, yet nothing has translated into cash flow, production, or profit. Even the occasional promising drill results at Northern Zone or the talk of green hydrogen projects never seem to move beyond the PowerPoint stage.
For a CEO earning ~£150k a year, you’d expect more than six years of talking points. The business model hasn’t evolved, and the market clearly isn’t buying the story anymore — hence the microscopic market cap and lack of institutional support.
To make matters worse, insider ownership remains tiny. With Naheed holding less than 1% of the company, alignment with shareholders looks weak. It feels like she’s kept the company afloat just enough to justify another raise rather than genuinely build value.
At some point, results have to matter more than rhetoric. After almost seven years, investors deserve delivery — not just the next promise.