Member Info for CF73

Barra Report is very close to being released to market, as far as I have been able to make from contact with the company.

Even if we go into production before ownership is sorted, PREM get 100% of the revenues until the debt we're owed - $20million - is effectively repaid. So if PREM chooses, it can go into production ahead of ownership news and would still be beneficial. Looking forward to the Barra Report as that will show the way

I'm not a trader chippy but understand your anger an frustration - it's not without cause. Let's see how things unfold.

In the recent Proactive Interview, GR said on Zulu,

"...we had always said that there are a number of alternatives to Cadence. I hope that we're going to be able to, in short order, bring one of those alternatives to finality [...] In summary, we remain bullish. In summary, there are a number of other parties, there always have been."

Certainly, moving the webinar has helped at least to free up time to work through all this. Indeed, personally feel that when KDNC asked for the additional 20 days, it likely triggered parallel processes (at least it should have), especially since GR talked in terms of something not necessarily that far off ('...in short order.', as he put it)

Again, up to folks to decide for themselves how near to realisation these discussions are.

In my opinion, Zulu will be sorted at some point in the near future.

There's serious interest in the project. We need to let GR get on with it, so he can focus on getting the best deal for it.

We also have the Barra Report due. Personally believe that to be very close.

Looks very positive to me

"Isn’t the fact we have 13 mill in net gas and oil the telling statistic we were all waiting for or am I reading it wrong? Also 5 mill accounts payable means we are waiting on oil sold." ------------------- Thanks Richard, that's helpful!

I've always accepted that he deserves criticism and that anger and frustration is completely justified. But my view of him is that I cannot think of how anyone else could come in and rescue us out of this (I also firmly believe that he is committed to the task).

We haven't reached the end of the journey here, by a long way. But folks have got to come to their own conclusions and decide whether they stick with this or move on (getting rid of him won't happen and neither would it be good for PREM or holders at this moment).

Wolf, I am in your camp regarding GR being the best man for the job - given the job is tied, now, quite intimately to where we are and what is subsequently required. Replacing him would kill prospects dead here. Is why I have no interest those calls to remove him. I also belief that he's genuine in his commitment.

I also find puzzling how folks with sizeable holdings and who are hugely under want to problematise their holdings further by weakening GRs negotiating position right now, just when he happens to be in talks and discussions that clearly have the potential to turn things around. Yeah, I get it, he's got things wrong. But let him finish the job.

Again, only of those

We were always going to hear on shareholder loan towards the end of this month. That was always going to happen first. That then clears the way for the rest (we're still well within the time scale they set).

The additional time's not been great but it is what it is.

LOL Cahus, no problemo me ol mucker. Remember you posting from before. There is a major credibility issue here. Very hard to defend GR. And certainly trying to can seem to fly in the face of the evidence. But replacing him now would just kill things altogether. I also do believe that he's genuinely committed to PREM (what new CEO would loan PREM £300K?). But these are just words. Something concrete and irrefutable needs to happen ( - even one of those deals landing can change outlook here and feelings towards GR). We continue to wait, with news on the horizon, as always. Hope all good otherwise.

Been an entire month sitting waiting for this. We should soon hear on SHL and then soon after we should hear about this EDM CEO and then the letter and 'then we're off to the races!'

Good luck all!!

...we will be getting an update on Circum in that webinar.

Fair enough TDT, but we've certainly not been in a death spiral situation, as is frequently argued by some

If this was Death Spiral, then our SP should be somewhat lower. However, Riverfort selling has been absorbed, with questions as to how and by whom, given that it's not clear if PI interest/buying could have done this 'absorbing'. Instead, we've held at around these levels throughout this time.

For genuine death spiral, should look at how for example YA were mucking FRR about. That was somewhat serious. I always wondered how Gazzard's previous finance experience might have served us. Clearly, given the predatory nature of these funders/financiers, and the general predicament AIM companies find themselves in, he may have helped to make sure we didn't totally screwed.

*Representatives, and not 'preventatives' ;-)

Past record is a poor record. No doubt.

But we have the assets. And it's not the case that there is nothing going on with them.

RHA: 1) Barra Report due, 2) Ownership issue being resolved (albeit more slowly than we would like ). 3) Operations perhaps restarted

Zulu: 1) Ongoing discussions regarding possible JV (with the KDNC deal actually important for showing that we have been working on this). The ProActive interview GR did last week suggested (strongly, I might add) that there were potential alternatives for replacing the 'KDNC possibility' in 'short order'.

Circum: 1) They have been moving to make this happen. I believe we will be updated at new week's Webinar. I am sure we are all interested in getting some concrete feedback as to where things lie. Circum certainly owe us a favour given we came to their rescue when we took on the holdings of other investors last year (was not pleased about it at the time but it is what it is). It's no secret either that Circum/Dattels have been after Zulu for some time, added to which is that GR has been in discussion with senior Circum preventatives last week (perhaps meeting?).

So it's frustrating that with all our assets and with everything that's going on, we remain in this current state. But as I said, this will turn in an instant on the right news. These levels in turn provide crazy upside.

strongman, I for one appreciate your posts. Keep em coming.

xtra, having a different view is one thing - and I'm open to this - but predicting lower SPs and placing prices is crazy talk.

Anyway, we have news on the horizon.

Great stuff Aeasty and RTF!