Member Info for CrustyPete

Lol, you have to laugh; if you didn't you would cry.....

This looks more and more like my other African "disaster" managed into a financial corner by a combination of a shortsighted Board who have minimal leverage over an incompetent and corrupt Govt. Too many similarities here to cover other than to say that AAOG BOard are now at the risk of never getting that License Extension because they have neither the cash nor the ability to ever get a drill into the Ground. The only way that AEX bailed themselves out of the situation was by giving (yes, giving) the Lion's share of shareholders assets to a Middle Eastern backed Investor with very deep pockets and influence with the Govt of the country (and yet we are still awaiting the license extension two years after it expired)....

If the Board are to pull a rabbit out of the hat here they will need to do something similar; and they will need to do it quickly whilst they can still pay to keep the lights on. (I wonder how much their Paris legal battle is costing...?) Their problem is that they do not even have a CPR on the asset methinks so how many dimes would they get on their dollar?

Thankfully the recent announcement on the Rig / Drill delay at least persuaded me not to put any more money in this over recent weeks.

GLA

Well mow the 2nd December. Expect some Board member to tell us it is still "mid Q4".........

Well I guess that'll be anytime between the 1st September and the 31st December...?!

They ate taking us all for fools..... and, in most cases, would be perfectlh justified in doing so. Though really disappointing. I have been fed this bull**** before but expected better here. Which onlh hoes to prove that thetexis no fool like and old fool. It seems the govt in Congo is just as derelict as it is in Tanzania.... now let me think - who was it that warned me of this?

Well the claim that we are "still in Q4" could surely only last for the remainder of this week don't you think? Once we get to December (next Monday is the 2nd) there can be no doubt that we are in the final third of Q4.....

A day or two after more likely....

Rampers?! Oh really ohwhatif? A bit feckin' pointless without a market don't you think? I think even the most rabid of rampers might accept the futility of their activity whilst there was no market to influence don't you......?

We are being "pinned to the floor" by a total lack of meaningful activity. If we had that activity the "spread" would be a total irrelevance.....

Not forgetting the earlier 1,000,000 Sell trade at 2.22 of course... that 's a nice wide spread for the MM's eh?

Indeed wasnhers that is certainly one opinion and one that I personally subscribe to BUT I am not sure that all investors will be similarly persuaded of that approach....

Well Washers my viewpoint is slightly different. There will be many holders that bought expecting a 2019 spud, or close to it, who are now underwater and holding on hoping for confirmation before the end of November that the spud will be in Q1. If they get it they will likely hlld on. If they get the opposite, that the spud is likelyvto be in Q2 they may well not!! Biye the bullet and take the hit with a view to buying back in 4/5 months time.

The alternative is to sit and warch their loss escalte over the intervening period. Unless you believe TipTops view that there will be a number of materially positive announcements in the unterim? There are a few possibilities but will any of them be sufficient to stem the tide?

Another little purchase this morning. Though I still think there will e more and, maybe, better opportunities to come. Unless that extension arrives very soon....

The options were minimal by comparison with the many millions that he got for the AEX purchase of Canyon. Not sure why fgey wwere not simply bundled together...? Incentivisation perhaps? I do mot recollect the exercise price nor the market price at the time to be honest....

I agree with annearlier poster, that options should be used as an incentive, or as part of a performance related pay scheme. "Freebies" cannot be justified in any event dunder...

AEX should get that performance sheme in place asap unfortunately the horse has already bolted - and this recent incident is not the first example.

Well that would be good GL but it doesn't in any sense justify the bloody award....

As I said earlier I fully expect resolution of the outstanding License very soon and this may well be an indication of that but it also indicates the disdain and contempt with which these new Directors view their shareholders.

I do not mind any Director awarding themselves additional shares based on a performance related scheme BUT these are just "give-aways"..... At the AGM in 2018 I complained bitterly at a similar award and the pay rises handed out at the time bearing in mind the awful sp performance and management record at that point; particularly at the lack of a "performance related pay scheme" - at which point we were told that one would be put in place by the end of the year. So much for that assertion then eh?

This is an award for a total lack of performance; share a give aways at bargain basement prices.... the sp is where it is because of their appalling performance and yet they are using this sp trough as an opportunity!! An opportunity to load up on cheap shares without having to pay a bean for them. And if it all fails it still doesn't cost them anything....

Cynical, "ball's out" opportunism and it is a sneering, condescending insult to LTH's. But they are hoping that it will all be "water under the bridge" by the next AGM.

Yes Robsroom but that means they get free "upside" with zero risk and for what?! They will not exercise these options until they are significantly above the current price, they will exercise and immediately sell into the market or to an institution and then sell them to get a risk free profit.... Wouldn't we all like that? What the feck have they done to deserve that? I have been a shareholder for 10 years and others for longer; the BoD get paid a bloody good salary for what they do and to give, yes, give them, shares at the "bottom" just as they are about to rise really does take the fecking **** out of long term shareholders some of whom have spent hard earned money over many years to accumulate a shareholding far, far less than they are each being awarded - and the point is FOR FECKING WHAT???!! They have been seen to deliver NOTHING of their own creation.....

It is a bloody slap in the face to LTH and is smacks of greed and opportunism. How is that conceivably in "shareholders" interests - zero risk Christmas presents. I cannot bloody wait for the next AGM.... PIGS at the trough.

The timing may well be enlightening but the delivery is nothing but a cynical insult; timed now simply because they believe that if the SP rises as a result of a License Extension, Farm Out and Spud date that they have individually and collectively done f**k all to influence all LTH will swallow it.

If there were an AGM tomorrow and they were standing in front of me I would spit on them. They are taking money out of MY pocket for delivering NOTHING!

I would be interested to understand what it is the "new" Board think they have done to deserve the award of 48 million options? They have been in situ for next to no time and all that is currently "in-play" is in exactly the same "state" as it was left by the previous incumbents...... we have been in "stasis" for well over a year and any movement has been initiated by a marginally more positive political situation and nothing that the BoD have themselves created or implemented.

As and example I think that the License Extension will arrive very soon (hence Strong Buy) but it could just have easily arrived 6-9 months ago long before the new BoD were in place; so even when the license arrives what have they have done to justify the new option award?

Just pigs eating at the trough.....

I have some sympathy with your assertions below BC but with one caveat - that this is easy to say with hindsight. If the drill that they used for 103 had not been proven to be totally under-gunned then the drilling deeper into the Djeno would have appeared a sensible option at the time. Whose fault was it that this severe deficiency was not recognised?? Well I will leave that open - I have my view and others will undoubtedly have their own.

But Tiburn the longer we are made to wait for that "pivotal news" the stronger her position becomes..... Many have been arguing that because of the eventual delivery of that news people should be buying in today before the sp rockets on the back of it. Well I am afraid that argument has been proven totally flawed as those who were convinced by that argument 3, 4, 5 and 6 months ago will now testify...... and so will many more if we wait another two or three months for that news. And will anyone guarantee that we won't be?

Personally, I will be sitting on my hands over that intervening period and grimacing with every further week that we are forced to wait.

"are being made now"? Maybe but I would suggest not until the $3m "advance" has been received from APT and as of a week ago that hadn't happened...

Yes indeed TipTop, is has multibagger potential.. 500% just to restore the losses suffered since January... wow feckin' wee Lol

That is some commendation. You are fortunate enough to have had the wherewithall to buy more shares during that downward trajectory (I sold out and only recently repurchased) but others may not be in that same position and your post below will come as absolutely ZERO comfort to them.....