So Q4 coming to a close 1.5 days of markets left.... and lets look at ferriers achievements!!!...... communication ...nope!... shareholder value ...nope!!!... CPR,FDP 2NN AMENDMENT.... BIG FAT NO!!!!.... NEW OIL SALES AGREEMENT THAT EXPIRES DEC.....NO...NO ....NO...... sweet F A!!!.... How is this man still ceo ????? He has FAILED AT EVERY LEVEL!!!.... Enough is enough!!!! i urge every shareholder to email the chairman and demand answers!... ferrier has been a complete failure as ceo and now he needs to go.... 1.5 days to pull a rabbit from the hat..... but most likely will b a rancid turkey!!!.... ferrier out now!!
Well ferrier merry effing xmas.. 3% down and barely 1.7p! Another xmas of misery for shareholders, make sure you enjoy ur bonus and overpaid salary!! Still no fdp cpr 2nd amendment oil sales agreement communication shareholder value the list is just endless failure!!.... this man has got to be sacked soon ,how does a ceo with such an appalling track record still hold his job??? 10th year approaching !! PIs still sitting on huge losses!!..... get this dog sold!!
Yeah oilcan who proclaims his own self importance yet is banned from all sites!!... this crazy Paul fella is still posting constantly and even naming companies like citigroup who have done the share buy back for gkp allegedly?... how can someone continue to make these claims yet gkp, citigroup sinopec or whoever doesnt put a stop to this if untrue??? Well he is setting himself up for a massive fall and egg on his face if its just nonsense!!... hopefully find out in the nxt few days...
Oh and its been nearly 10 years since discovery and we're still not at 40kbopd!!!!....and wheres all the money we r owe by krg?? They av never contributed to their 20%!!! So make owe WI 80% officially or pay up.... and lastly the oil agreement ends this month!!!!.... 10 bl00dy years....great investor value eh!!!
The problem is the this woeful CEO and BoDs dont communicate anything properly!! Now i know they dont respond to silly speculation on BBs but given the stuff this paul is saying continuously is nothing short of fraudulent ,if theres nothing in it!! Why cant they for once at least comment on it to put it to bed!!.... but a bit like thru the keyhole... now lets look at the clues??.... so Dec 2016 bloomberg report sinopec 'approach and working with advisors'...no denial by either company!... then the restructure to reset the shares and pretty much hand the company to bond holders and institutions, PIs wiped out!... now only 230m shares in issue. Then the payments from MNR become regular...then the debt of 100m renegotiated but didnt lower the 10% rate!!! Why?? All it did was get rid of the M&A clause attached to it... shaikan continues to perform still without any work on the wells delivering over 50m barrels.... ferrier was supposed to use the restructure money to get the wells back up to 40k bopd asap.... hes done NOTHING!!... so then we get new chairman and also with immediate effect a big hitting M&A lawyer put on BoDs...why?.. theres more!!! Now we here of the chinese again have done field assessment and core samples?? Then we get from MOL their presentation... wheres ferrier????? So he we sit with around 280m in bank and the company in some sort of holding pattern for 2 years, ferrier has done sweet F All operationally in 2 years.. no production increase no fdp no cpr no 2nd amendment!!! So this is why we get all these speculations..... so is there a takeover?? I really dont know...ive always believed that it would just happen one day without notice.... rumours of take overs are planted in the press etc and designed to get retail to buy in heavily so wholesale can dump...ie 2012 ask Todd Kozel!! But at least hes gonna b banned up now...karma!! This rumour or actual facts regarding chinese has had zero effect... the sp has nose dived in 12 weeks..yes oil has tanked... but they say before any big rise theres a big fall..also the institutions have piled in holding around 170m of that 230m issue looking at the last holdings! So come on ferrier at least put it to bed if no chinese talks and get ur ar5e in gear and get this dog investment moving.....all imo
Look at oilman63 ,never seen anything like it, behaving like a spoilt child not getting his way! Really cringeworthy and embarresing! Telling everyone how theres water and problems and we're not being told!.... pretty sure they wouldnt get away with that especially as the big institutions have bought so many millions and a further 800000 by jpmorgan!!..... Makes you think that gkp might just be about to deliver some fantastic news for once? Theres been too many leaked snippets now, anything from psc, fdp 2nd amendement farm in takeover who knows but certainly not a moment too soon!! ... but can they wait till 30th so i can buy some more pls.
Well just based on current reserves and 58% working interest altho ferrier has used 80% as the mnr avent paid a penny of their share then you can see 3- 5 billion as industrial average around 1bn for every 100m reserves. But with the new cpr which i understand has been done by woodmac so damn more professional than those cowboys at erce!.... so will increase as MOL has stated. So top end of 5bn gives us roughly £20 a share. CPR, FDP and 2nd amendment should all be very favourable to us.
Lastly just reading the sinopec takeover rumour from bloomberg and reuters...it clearly states that sinopec were working with advisers and that they had MADE an approach to gulf Dec 2016.... SP then was 144p.... now 2years on and with 280m in the bank and with shaikan no further on development wise is there something more going on as ive stated? Silence from our management, chinese study of shaikan ,MA lawyer... and our sp sits not much better now than 2 years ago!!! The mind boggles
So given now that the cpr and fdp have been signed off and due end of year according to MOL... 'reserves upgrade' that must mean that the 2nd amendment is also finalised as surely they all go hand in hand?.... since we have not been paid by MNR for their 20% we must be entitled to use our share as 80% as ferrier has in the past?..... so we could be up to 600m barrels reserves? Just mayb ferrier has a xmas present for us at last.....if not sack the bum!!
I would like to know why they restructured the 100m debt yet didnt get a better rate? Surely if it was being paid off long term the would of renegotiated the rate? They just got rid of the clauses attached to it. We had CFO questioned about what he was doing with all that money in the bank? His reply being you can probably guess??? No Sami we' re sick of guessing!!!Then Oct we have kimberley wood put on the bod with immediate effect...'big hitting M & A lawyer' we then get the geologist info regarding the chinese interest and that they thought erce cpr was wrong!... but still Ferrier has delivered zilch!!! No fdp no cpr no 2nd amendment...On the restructure which destroyed original shareholders he said that he would use that money to get back to 40k bopd...has he? Nope hes done bugger all for years!!... so we are nearly 10 years since discovery and what has Gulf delivered for shareholders....nothing but misery!! So think that its gonna be another 4-5 years makes sick thinking about it...doubt i will see that long!!... something doesnt add up, surely now would be the perfect time to get bought out with POO low and our 'world class asset' sitting there doing bugger all??
Slurryscot?... thats not nice!.. wanting to know experiance and qualifications.... yep its oilman63 alright... banned from advfn apparently now goes under avatars citywatch and petrolhead... so wots your credentials oilman apart from used car parts pmsl..
The 12mmboe is mols 20%..its more the upside by end of 2018 , so are we gonna get the new cpr and fdp? And when are we gonna get all our money back from the mnr re their 20% that we have paid for??... but thats in the 2nd amendment if we ever see it!
Go to mol website presentation, lots about shaikan.... which is more than we get from our own woeful ceo!! Just spotted this bit..
Currently 12 MMboe 2P reserves, incremental upside likely to be booked at the end of 2018, further reserves upside at later stages
Is that you oilcan?... yes it will be sold by xmas. Not sure which one yet and despite what you think, you certainly won't know about it.lol but if ferrier does not deliver anything significant by year end then his job is under threat...and rightly so! Just hope kimberley wood has been brought in for a reason.. big hitting M&A lawyer, plus the debt restructure which didnt reduce the 10% but was to clear the M&A clauses....imo so we will see?
Also why is it that all good news that we find from other sources still has no imact on the sp? Chinese report on shaikan basically disagreeing with erce, now MOL presentaion saying shaikan to be self funding this year...and they price barrels at $8.... that pretty much puts us in the 3-5bn range with the old cpr.....yet DOWN OUR DOG INVESTMENT GOES!!.... The market can remain insolvent longer than you can remain solvent!!...this is taking the blatant p155....
So silence from our waste of space overpaid ceo!! And down our investment goes! How is this man still ceo, rewarded for failure! Unless he suddenly delivers in the next 4 days of trading that we have then he has to go! No value after nearly 10 years not even 40kbopd!!! No communication no cpr no fdp no 2nd amendment....nada zilch eff all!! I truely hope something is going on behind closed doors for all shareholders sakes...this being perfect time to be bought out...low poo no upgrades from our pitiful management...so would be based on old cpr 3-5 bn imo.....absolute steal.....if not the ferrier has got to go!!
RE: the end of an era
Today 10:14
Looks to me like this will likely be taken out. Hence lack of activity from the board. At what price is anyones guess...
I bloody hope so after nearly 10 years!!! I would of thoght that if ferrier was going to release one of his normal regurgitated rns saying the same thing he's said for years he would av done it by now?.... why leave it this late? Wot 5 trading days left?....lets hope the arrival of kimberley wood and the sudden release to us plebs the chinese interest is the final curtain....3-5 bn cheap as chips....
shareholder complaints about the collapse of its stock price and the hefty salaries paid to the company’s top executives!
Blimey its history repeating itself!!! Ferrier is overpaid and we have a collapsing SP!!....zero communication, zero increase in production to ofset poo, no fdp no cpr no 2nd amendment not even the new oil sales agreement that runs out this month!!!... What is this man paid for??? Nearly 10 years on....what do we have to show for it....F All!!...... FERRIER OUT!!....and i hope he chokes on a brussel sprout!!