The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Personally I would report it to the city of London police who have the national lead on fraud Action fruad is really just a filter system to pass low level stuff down to plod locally. The city f London use foresenic accounts if they think there is a realistic chance of prosecution. They have a limit of about £22 million for them to take a serious interest. I once had good contacts with them. It needs to made clear that although your actual loss is peanut money in the schem of things the
whole action ie all of the shareholder loss number is a lot more than 22 mill.
I would also just quickly check on what the legal definiition of fraud is on the dot gove law site, certainly when I had contact with the city of london plolice they found many cases of losses but did not fall within the definition of fraud.
I would aslo copy in the complaint to your MP
Re Issues with the next Gov. Firstly Labour do have a complete net zero commitment and are showing their colours on this. They have rowed back on a huge spend up on this but iis this just smoke and mirrors? It should not also be forgotten is that so far Starmer has kept the far left hidden and quiet ( but they re stil there and with a big majority may well b much stonger). What ever people may think Labour is Labour and they are spenders and disslike wealth and the people who have it.
I think you will find thatr negoations under Johnson and trump began imidiatly after the result of brexit was known and Johnson became PM (remember that the PM resigned the next say after the result0 they were scuppered when the trump lost the presidency and the "Am I awake president" took tenure. What has heppened in the mean time is the trade arrangments have advnced and some are in place on a state by state basis - never let the truth get in the way of good story!
Bigin
I would be carefull at this stage of things of putting too much reliance on the geo political situation. I do acept it does have a place but this is all background stuff it will not influence a court or judicial process. It may be able to influence any recovereay plan if one can be achived but the judicial and the deloits matters have to deal with facts unless there is total agreement of recoverary from all sides-crditors courts as in the views of a judge and legal definintions. it will not in my view be any sort of master stroke
There is only one thing to say about this. We know there are a number of Angels of death around the survival or not of our investment. They will use anything to get there evil way. We certainly do not know who are the bad actors really are other than zaza. On that I hope we can all agree. On that basis I personally what ever I may say on here or indeed else where is to protect the Company and its achievments in trying to return to some sort of stabilty leading us all to an at worst a return of investment or more hopefully a healthy profit.
With the above in mind and know that bad actors monotor the board or indeed may even be on this board stiring up share holder discontent ( and I have no idea who- thats half the problem) only plays into their hands and puts us not only off the bus but discarded in the trash bin. A large group of shareholders acting in unison may at some point become very important to our advantage. But all this sillyness in what is in effect a public forum just shows how easily we can be both wound up and diss united ie a rabble. that is a huge advantage to the angels of death. so please all pepes be carefull what you post, or what actions you may take. You may even be correct but it is an alert that does not need to be made public and cause a storm. If you maust act then do it quietly and not in public. That way as a lone wolf you do not destroy things for others
A very happy new year and lets hope a prosperous one as well
Sorrey troops -off message- Band of brothers stuff
Cogs -the prod has had a bad turn. out of hospital. more details on the whats app group
Thanks for the idulgance troops in advance
the Prod wants to hold out for £1 a share on buy out. Perhaps wisfull thinking but worth dreamin about!
Not only for me but others as well. Easy to forget why we invested even if high risk then! Certainly turned out to be high risk investment but for all the the wrong reasons. Sadly it reminds me of one person who will not be named but in general I take Dustin at face value. All i can add it that well tech will have advanced further (the vid is 2018) and its all still there underground.
A good reminder gotreal - thanks-
Did meet up with the Prod the other week in Westminster. He would only meet me at a sponcored event so the livations were paid for so he did not have to borrow either cash from me and hammered the bar bill He still has not cut the open the slits on his pockets from what looked like a new suit. As ever he was chatting up some Journo. I am also sad to say in very fine form and he even looks healthy- which is most disconcerting. I hate to admit it but it was actually good to see him after his own problems. Ps he is keeping some vary strange company- they even let him into Parliament.
Just as a side issue how are things with you? hope all is all Ok
It looks as though things are moving in the right direction with the Company but still hurdles to jump so no chiken counting yet but as they say" You don't fight over an empty box"
Apogise to others for being off message - Band of Brothers chat!
I only whish the chat was about down the hole pressures etc much more interesting than all this legal stuff important as it is. SN seems to have a legal team who both understand and impliment a stratagy. Sadley I do understand the silence but it is frustrating but there as so many balls in the air with even one or two to our advantage.
Time to make a welcome by the fireside and hunker down for Michaelmas- it will be a while still until the Company is fully back in shape if it gets that far.
Coggs You have woken up. How come?
Whilst I share people frustraion at no news there really is no good reson to keep harping on about it. We just have to acept that we will not get an official update until the Company deem fit to do so. We can all guess and have our own views as to why this is - indeed I have my own theory but it is only a guess.
I do think we aslo need to recognise of just what difficult position the Comany found it self in - Its main active director and the on the ground man was up to no good and defrauded us all. Putting that all back together is not easy and many would have given up and walked away. We should be gratefull the SN has decided to fight and as a general comment he and the legal team seem to be doing a good job - certainly not easy seeing the number of juristrictions that are referenced.
Please do not missunderstand me but I am afraid and I quote shakespere "The wheels of the Law turn rather slowly" and then add in the Judges at times are not helpful when trying to get Court time. This only adds to mine and I expect everbody elses frustrations except of course those who work in the Law who will understand the time factors.
All I can say with some justification is the SN is trowing the Kitchen sink in trying to get The Company bacl on an even keel - He may not suceed but he is certainly trying which we should all be gratful for.
Winge over- time for bottle or two of fine port
Many thanks Monti and looed. for your explanation over this.
I think it is worth noting for some perhaps that those who post on here who give their wisdom and advice so freely here who have professional qualifictions (and some clearly do) The Law in England and Wales is clear that "you speak with the knowedge that you have at all times" I would say even if hiding behid a nome de plume as on here . Sadley I have seen too many memebers of my own profession loose their qualifications by giving free advice which has been affected by too much time at the 19th in trying to help oout somebody. We are very blessed to have some on here who who are willing to give comment in a very careful way along with a sencible explanation of complex matters. A minor point but important thing which needed saying. Thanks troops
Looed/
Firstly as ever thanks for your update and careful comment. However for some of use mere mortals and I include my self I am yet again having a dose of the vapours or something.
What I am very unclear of is just how important this up and coming case is? Now I do appreciate that in leagal terms that all cases are as important as any other case they are simply up for judgement but from a lay point of view with still a number of other cases outstanding AND in different juristricions. Is this the crucal case where the outstanding case hopefully just fall in line? or just another case? I do appreciate this may be hard to answere especially due to the late night spanner in the works sadley I am not quite as positive as you. I preume the other side have a good legal team and other than a few late nights they should be able to come up with something.
I am gussing you an an officer of the court (I love that expresion reminding some people of their role is a bette noir of mine and to me often with some very amusing results!)
It appears to me on a global basis that there is a slow but sure decline in the race to net zero. Sure populations want to have such things as cleaner air and other things as well but when they start to see the costs and money flying out of their pockets they temper their demands. Thankfully some of the Politicians are seeing the writing on the wall and a few are actually acting. The changes in the UK whilst sencible are so small to affect world demand but Europe as a whole makes a difference and the EU have recently reclassed gas as a "transition source of energy" . The recent announcment that the EU countries have in fact increased their use of Russian gas by some 35% despite sanctions being in place. (Funny how there is no great howl from the usual suspects) Clearly there is a huge chunk of the western world that is no where near ready or indeed willing to hit net zero targets they just will not admit it so as to save face. China as yet has not yet returned to full production due to Covid but China is complex as I belive "peak china" may have already arrived. Africa simply can not put things like national grids in place at scale.
At the end of the day Lonney knee jerked Bp into going green and we have badly suffered and have only been saved thanks to the Ukraine war.
What we need is a sencible in terms of pace, to go back to what we were good at. and perhaps be involved at a much slower pace gain expertise in some of the other areas. It can and should be done.
I fully suport Exporations point of view espaecially as it is not too late
After the actions of the UK PM re both getting a new O&G field . The extention of hydrocarbon cars and from memory a new coal mine. Add to this the actions of many countries which are not widley reported in the UK press. It seems to me that the race to net zero has slowed down. Then add in the reduction in production of OPEC + which is more than just the relationship issues with the russians. The virtual stop to new wells during Covid and a very slow pick up afterwards. it is beginning to paint a picture. Quite what that picture is I think still unclear but the march away from O&G is certainly under review . Then add in western governments being scared of energy security and quite rightly so even going against the sanctions on Russia - there has been about a 35% increase in puchase of Russian O&G by EU member from the start of sanctions!
From what I have read the big boys are trying to mop up the easy O&G around the world.
If what I see through murkey vision of the picture of the future of O&G I think the future looks bright still if the legal stuff all works out.
What do others think of the changing picture?
Re Ulez I think this over complicates things. If you are taking about London then Marstons do not really have a foot hold however speaking from experience re London I live in centarl London (Just) but certainly at week ends I and she who must be obeyed go every week end out to say biggin hill area for sunday lunch and a stroll . You would be surprised just how many people do. In London terms it is a bit of a drive ( 20 mph. LTN'S etc so time rather than distance) although thanks to the blade runners so far have managed not paying the Ulex charge) However one day a week I go with my mates ( we are all retired) out to a country pub and have a good beer session and catch a cab back you would be surprised how many former work collegues who have moved out of London we meet (they moved because London Politics stinks) What is clear is that many of our old haunts in London are virtually empty except the tourists pubs , we all have the view that London is dying. My point is that Marstons may well do very well if it had some edge of London pubs /food outlets as these all seem busy.
As for the other parts of the Country which have have ULEZ schemes in place I can no longer speak for them from lack of experienece now, But matters that we are told are dividing the country such as Ulez LTN's etc from my experience are also dividing the wet trade and food venues. If you are outside these areas they seem to be do resonable trade.
A further example is I could go locally to a refurbished pub/hotel its 5 mons walk. I never go there food is an outraougeous price ( and I am not short of money) but the quality of staff is so bad it spoils the experience they are like teenagers who do not speak.
At the end of the day many things make a pub sucessfull some but not all can not be put down on a balance sheet or in a training course but if you do it right it works.
Perhaps with SN now with "Clen hands" does it really mtter what happens to za za ? Personally I am only really interested in the well being of the Company and its return to something positive to all of us ( That includes SN ) That of course does not mean I would not like action against he who must really be no longer mentioned especially if it can add value to the Company but I view this as a side show. As they say - venagance is a meal best served up cold - and yes I am full of vengance he must never be allowed any where near other peoples money and should be punished. but it can wait ( Especially if the band of brothers is able to meet with good cheer . Perhaps like the Cultutter light Horse !! ( Good film based upon truth) Battle scard but sucessfull!
Great to see you as well Prod. I agrre we can still keep dreaming. I wonder if Looney going from Bp will have any effect? If Bp refocus on what they are best at which is O&G they might re look at us!!!! Pipe dreams maybe but a possibilty. Remember other big O&G are not really inteterested in be an "Energy Company" and if my memoary is correct Bp have all our data.
We really should get that "band of brothers" back together happy times and a few hangovers! Onwards and upwards to all.
I am afaid I don't belive a single word of the reson why he has gone. Looks to me just a a PR reason which is invented to give less damage to the brand. I don't really think anybody is actually interested in either this reason or the real reason. Somebody just thought he he had to go
In agreeing that the world is very messy. There is a glimmer of hope as a result of the G20. In general this is just a talking shop at the best of times, but the adsence of both china and russia makes the headlines even more so. However what comes out from the sub meetings may have some importance. It seems clear to me that there is a POSSIBILTY that pressure in greater strengh may fall on India to halt it being used as transit point for O&G to China. (I doubt in india will stop using russian O&G for its own use it is just too cheap from them ) This can only take place if Uncle sam turns the screws but this is difficult as india is trying to face in both directions at once. However if this is sucessful there is no reason why georgin O&G will get presure even internally to push ahead with development - This may even suit many of the pro russian aspect fora t the end of the day the right people will want to mainatin/gain powere and for that you need dosh.
If the above is both right and achievable this bodes well for us. perhpas not to the higher returns we may want as this will need production that even with a following wind will take time but more likely for a buy out.
This of course is pie in the sky but may be about right as a direction of travel taking into considderation other geo political pressures. Of course the reality may push it all just downhill into oblivion but this is the kind of thoughts both diplomats and politicians think. They certainly do not get it right a lot of the time - just look at the failure to get bids for off shore wind farms of our coast. you Governments you can not make Companies spend their hard earned if they do not want to, and certainly this has set back net zero in the UK BIG TIME. Egg on faces all the way around to all the political groupings on that one and there will have to be a serious rethink on this won as there is certainly plenty of spare cash to invest lying around.
Just my muse