Member Info for del929

Why does it matter what offers we may or may not have had previously. All I’m interested in is an offer sometime soon to hopefully buy the whole company and then this BOD & EUA will be out of my life forever! EUA v2 will not happen.

It’s a long overdue update that gives us the answers to the majority of our questions. I also note there was no mention of the 2 additional licences (Poaz & Travyana) which we thought we might have submitted in Jan. A decent RNS and good news ref cash available.

1. 12th May 2021; received a proposal from a credible party & exited the FSP 729 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 530 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 480 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 427 days ago.
5. Rosgeo JV; options on remaining assets expired on 26th March.
6. BOD options are due to expire on 2 May 2023.
7. MT DFS: submitted a minimum of 112 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.
9. 9 Jan 2023; Poaz & Travyanya Licence Applications submitted (TBC)
10. 2 x court cases pending Mispare/Queeld Ventures Limited & Logik.

1. 12th May 2021; received a proposal from a credible party & exited the FSP 724 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 525 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 475 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 422 days ago.
5. Rosgeo JV; options on remaining assets expired on 26th March.
6. BOD options are due to expire on 2 May 2023.
7. MT DFS: submitted a minimum of 107 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.
9. 9 Jan 2023; Poaz & Travyanya Licence Applications submitted (TBC)
10. 2 x court cases pending Mispare/Queeld Ventures Limited & Logik.

Layla1; I think the BOD could have done things much better, certainly the communications has always been poor and they can’t blame that on anything other than themselves.
With regards to your comment of us having a “bod of predominantly Russian heritage” which of them does that apply to?
CHRISTIAN SCHAFFALITZKY
JAMES NIEUWENHUYS
IAIN RAWLINSON
TAMERLAN ABDIKEEV
KOTARO KOSAKA
ARTEM MATYUSHOK
DMITRY SUSCHOV

Rickstars; I wish I did have an agenda, nothing could be worse that been so underwater with this share and watching the sp decrease almost daily with absolutely no support from the BOD.

https://oilprice.com/Latest-Energy-News/World-News/Putin-Approves-12-Billion-Payment-To-Shell-For-Sakhalin-2-Exit.html

More like best MIA (missing in action) BOD these days!

Sorry forgot to add, isn’t the Rosgeo (NYUD) JORC due “shortly” How long ago did they come out with that cracker, wonder if that slight delay is due to covid or the Ukraine war?

CTC; remember that there’s “supposedly” 2 licences applied for on 9th Jan. Travyana & Poaz. So I think Rosgeo is ongoing although they did state nothing further with Rosgeo until NYUD was complete!

Scottydog; they were very prompt in giving us an update on “Extension of Company Options” on 2 Nov as expected.

Maybe Queeld Ventures Limited might call for an EGM, they have 10.75% of the total shares and aren’t they one of the companies taking EUA to court? I find it very strange that they couldn’t resolves things between themselves rather than wasting time & money to go through the courts, maybe they got a poor response as well and had enough.

I had a very similar response;

Thank you for your email.

We do appreciate that investors are requesting clarity on a range of items.

By way of limited help, we would ask you to consider that the Ukraine-Russia war is only the most recent one of a series of somewhat unexpected geopolitical events of which we have no doubt you are fully aware. These mitigating circumstances have had effects on the company's strategy and timelines.

By way of example, over the last 12 months or so we point to the complications and complexities of deal making for other companies with assets in the region and whilst we cannot comment on their strategies and situations, which are inevitably individual, they are perhaps illustrative of some of the dynamics faced.

We cannot confirm timings of future updates to the market, but we shall continue to provide these as appropriate.

Wantacracker; this is SP Angel our NOMAD not EUA.

No call back so just called them again. David Hignell is our NOMAD and he’s refusing to take calls as we are only Shareholders and not clients! Asked the man on reception whats the point of putting their contact details on RNSs if they won’t ever speak to us. I’m going to try emailing their reception with my list as he did say he’d pass it on for me.

Scottydog; what have you got to lose? It’s better than us all moaning on here all day.

Scottydog; I think any genuine shareholder should speak to them and voice their opinion. You might pick up one one point like I did ref the sanctions, I dint say I got no answers, I said I didn’t “really” get any answers which is to be expected.

This was my list I asked about;
1. 12th May 2021; received a proposal from a credible party & exited the FSP 721 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 522 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 472 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 419 days ago.
5. Rosgeo JV; options on remaining assets expired on 26th March.
6. BOD options are due to expire on 2 May 2023.
7. MT DFS: submitted a minimum of 104 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.
9. 9 Jan 2023; Poaz & Travyanya Licence Applications submitted (TBC)
10. 2 x court cases pending Mispare Limited & Queeld Ventures Limited, Logik
11. The company continue to monitor sanctions and these do not affect the asset sale.

I’ve just called the company and went through my list and aired my views on the BODs lack of communication. Didn’t really get any answers (as expected) but it seems I’m not the only one who’s asked for clarity on the many pending items and conflicting information. The one positive I took was I asked specifically ref sanctions not affecting the asset sale and was told that they are continuously taking advice from experts and that we’d be advised if that situation changed. I’d suggest if anyone has anything specific to ask they call and speak to them. I’ve also contacted the NOMAD but they are all in a meeting but have been promised a call back.

I called them last week and they’ve now installed a very efficient answering machine, I used to be able to get Keith straight away. I’m considering calling SP Angel today to ask them wtf is going on but not confident I will get to speak to anyone.