Member Info for CalmSeas

Perhaps do the maths on the death spiral finance deals and continued dilution, plus the horrific production levels to date. 99% down on AP’s watch. Other than companies going bust, could this, historically, be the worst ever company on AIM??

It was supposed to be profitable last summer, then again in December. The production numbers are dreadful and therefore should surely only get better from here - but we're starting from a very low point. Am expecting a call for more funds 'imminently' and whilst we still owe Atlas $5m, and Mercuria, plus the extremely unlikely event of securing finance, I would expect a huge sell off here once the dust has settled. AP, the market does understand...you're full of it.

Is BP now profitable? Also, finance won't be confirmed for another 3 months so I would still be very cautious - we have all been here before. Fingers crossed!

Positives:
There will not be a placing for Botswana.
They’re training up the locals.
No placings between now and AGM (but left this open until after AGM)
They answered all of my questions.
Negatives: where do I start?
Very downbeat from the BOD. None of them had their cameras on either.
No jumbo rig (it won’t fit), instead a replacement 3 smaller rigs from CH’s mates in SA. The jumbo rig was already paid for, so what’s happening with that I wonder?
No XRT until much later next year (if at all as we’re not producing anywhere near enough for it), budget approved for this yet not paid for!!
BP still isn’t profitable and wasn’t be for a few months yet.
We owe Atlas $6.35m and have no way of paying them back by end of Jan - assumption/hope that Atlas will therefore renegotiate when the time comes - this is an enormous risk!!!
BP has gone from an estimate of $2m to get up and running, to $20m and counting...

I’ll see you all on the other side...if we make it (which I’m very doubtful of now).

Merry Christmas, everyone!

Good luck to everyone still holding. Hopefully this will come good one day, and soon. I continue to hold but I won’t be posting on here for the foreseeable future. It’s time for me to focus on more positive things.

Yup. I understand. What ever the result of the vote is, you’ll say that was how you voted.

Which way did you vote?

I think we'll see more Atlas conversions, followed by lots of jam tomorrow and fear-mongering during the live investor meet, then the rest of the headroom being used in a massive placing and finally the AGM. All in my own opinion of course. Let's see.

Here comes the expected PR drive leading up to the AGM. A few machines showing we are producing something. This stinks of desperation. Show us bags of the stuff ready to go; a signed document for the finance or the diamonds from the vault instead of what we’ve already seen and know

WH Ireland were to become joint brokers. This wasn’t to do with finance.

I’ve had loads of positive messages about people voting for the first time to make their voices heard. Fantastic effort so far. Keep voting everyone, regardless to the amount you hold. Every vote is very important. Please do not sit on the fence - get your vote in. AP comes with too many black flags for this to work. He’s had enough time and 97% down on his watch. We need a new CEO.

Partially why I think they’ll place after the investor meet at a time when votes have already been cast. The investor meet feels like it’s being manipulated into a PR session for current Vast board members and not what we originally requested it for - which was a live meet for investors several weeks ago. The q&a came out as a result of that but no questions were answered on Atlas. Therefore, please don’t let the rally call fool you to change your vote.

We are not disclosing that information publicly. I’m sure you’ll understand why.

In recent comms I had with AH I gave him the opportunity to quash the WHIreland email as fake. He didn’t. I also felt that renegotiations with Altas were off the table and it was finance elsewhere or nothing. The flags raised by WHIreland for me were probably about the jurisdictions but absolutely about the management, pipe dream plans for BP by the useless CH and failure to pay previous finance. AP is responsible for these things, so he’s the biggest flag of all.

Unfortunately, I think the big news coming is a massive placing to use up the rest of the headroom. This is likely to happen just before the AGM so that they can use the Investor Meet to grab as many votes as possible. We are in too much of a precarious situation with Atlas and unless we refinance with them or find funds elsewhere I don’t see any other solution unfortunately. AH will not comment on Atlas (he was asked many questions for the recent q&a but hid behind supposed NDA’s), will he reveal more at the live investor meet? I strongly doubt it. Remember, AP could’ve raised everything that was needed twice over for BP had he placed at the right times (or even at not quite the right times). Consistent placings at all time lows. No risk assessment whatsoever until backed into a corner and then bang, screw the shareholders again. Make sure you all vote and help each other out here as to how to do it. Now is not the time for petty arguments but for a collaborative effort to achieve a goal that helps all real shareholders here.

I would urge everyone to vote, no mater how small you consider your holding it all adds up. I’m not going to tell you which way to vote, you’re all intelligent enough to decide for yourselves, but this share was 60p equivalent when AP took over the reins. That’s a 96.7% drop in share price.

We have been promised a live investor meet in response to the announcement of the AGM. I have asked AH to ensure there is enough time between the investor meet and AGM to ensure that we can vote accordingly, based on their answers. I can assure you that we, as a shareholder group, will propose certain resolutions. We have done this before and will do our best for it to happen again.

AGM has to be announced by end of the day tomorrow. Hopefully AP will do the honourable thing and step down. I have personally contacted him to do so.

The questions mainly avoided, were to do with financing. Believe me, we did not hold back, and to Vast's credit, they included many of those questions, word for word. Vast also issued the Q&A in the timeframe given. In regards to the large group of very long-term shareholders I represent: let's just say that there have been quite a few devious characters in various other groups, so there are 'trust issues'. We found this out the hard way by opening up the group and critical conversation leading up to the AGM in 2020. In addition to the answers from Vast, they have said they will provide shareholders with a further opportunity to address the Company ahead of the AGM and details will be provided in due course.

Just to clear up the usual BS on here. The questions were presented to Andrew Hall at Vast and Susie from St Brides recently after several exchanges in emails between myself and them. I have been working on behalf of a large group of shareholders, who all contributed a number of questions, so unless you were a part of this group, then you didn’t ask a question. Therefore, yes the questions are real but not all of them (as expected) were answered. We hope for more interaction with the board shortly.