Member Info for Dulwichman

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

Meoryou. You comment re the lack of the anti mob I think is a good question. My only view is that the moment anybody says the words "Settled science" I simply keep quiet ( ther is no such thing as settled science it is a political inventions of dubious validity) What is clear is that a lot of opions are about -some from scientists some from business and some political. Take a simple, statement. "The world is 4 degrees colder than in medieaval times" leading to "the earth is cooling" The first part is recognised as being about right. The second part is judgment ( and was in vogue a few years ago). Now take "the earth is warmer the to beginning of the industrial age" - "so the earth is warmiong up" This is generally agreed as about right This is the current in vogue belief. ( You can look at CO2 levels in the same way) so from a science point of view the future is about beliefs based upon when you measure from as your base line. It getting complex now as you have to add in both the political and the business elements which are based on? Now come the trickey bit. Just what should the worlds population be listening to. Answere that and perhaps you are a God.

BP have real expertise in O&G rest is basic business - What they are not is any better at renewables than anybody else and in many ways they will be worse as due to its size it can not react in a nimble way. Its only advatage is that it has some spare cash it can afford to loose (which I admit may give it political favour on the world stage at present) which may give it a return but at present is postage money in the near term.

It all comes down being sucessful in business and having the right leadership. I can see BP selling of its renewables in the mid term. Its not what they are good at. My own opion of course.

As to if if renewables can replace O&G in my life time. Thats anybodies guess but I have my views

Fair dealer. Just a point of clarification please. Do you happen to know where we are re the valuation cycle? There is the statutory valuation every few years and the yearly? Many years ago I was a District valuer and shall I say politely that my then valuations were perhaps a little different to the values by some well known names in the business. All I would say (so not to upset some former collegues) that the yearly valuations untimatley they are not a cut and paste into the accounts! Not for the first time now I have been retired I have been able to challenge at an AGM of the company with the noirmal result being a shut down of the subject in public followed by an instant invitation for a chat with a senior director beginning "How come you seem to know a lot about this?" My final point I would wish to make is that after a full and frank conversation In more than one case it has resulted in a change in the property valuation in next years accounts thus a change in the value of the Company.

My last point is that Property when it perhaps seen as secondary to the main businesss of any company can be over looked. If mangaged well it does effect many things including taxation. loans and dare I say it image etc of any Company all of which efects us as shareholders. Just looking at the bottom line never tells the full story.

Well something is wrong within the Vet industry. Here in my neck of the woods vets charge between £250 to £550 for the same procedure (Spading of a medium size dog) the other issue is the price of drugs ie the % mark up by vets vary a lot. As to if vets are making excessive profits I think that is full of too many variables rents etc. I think this is a bit of a market over reaction but what do I know

Cogs

Have taken your suguestion but something seems wrong I have tried Asprin mixed with Jonnie walker. Bloody aspin will not desolve! any suguestions?

PS Do you happen to know of any good books that advise on investing on the AIM market or better still off market oil Companies? The ones I have seen are all out of date?

Hi Cogs Good to here you still poke your nose in. Your write is full of sencible commentary, However whist you are quite right to hightlight the good works of many. However it really must be said that your own contribution has been outstanding especially where there have been engineering issues and you have a gift for expalining the technical issues to idiots like me.

Lets just hope that at some point in the future those skills can come to the fore and looed can take a well earned rest.

I would like to add just one more point. Remebering those days when all called ourselves a "Band of brothers" . I remember so well the first time a number of us were actaually able to put a name to a face over a beer or two made then and for some still true today some good friends all bound together with both commen interest and a desire to be helpfull to each other outside that common interest.

We were that "band of brothers" adding what knowledege we indervidually have freely and openly and much against the odds that "band of brothers" has stuck firmly together - truely remarkable.

Its no over yet and look forward to (with a following wind) a probable recovery of the Company and hopefully a return of all our initial investments and hopefully a profit. Too many us of have had rather more downs than ups I just hope everybodies fortunes have a strong light at the end of the Tunnels.

Happy days then

Pity I did not know you were coming would have been happy to meet up with you

Whilst acepting the importance of Uncle Sams representative in trying to use their influence in the area. This is such a sensitive area in geopolitical terms it would be good if we actually knew what the others were up to and there attitude is (under instruction from their Governments) ESPECIALLY the UK representative. The pressures on Georgia are immence with real threats from both China and Russia and possible/percived threats (in diplomatic terms) from other Countries.

My own perception is that Georgia at the Government level simply does not know which way to face at present which always results in stagnation in terms of alligments. Georgia wants inward investment but from whom and when? As far as we are concerned (and leaving aside our own little difficulties) Big oil and gas do have experience of operating in challenging areas but more so in the past, it will be all about present day risk assesments which may sound negative however the balance is the BP did invest in the huge gas interconector which is not fully utilised and is not that far away form us and they did the the OK to just pour the gas in as it was clean enough to not need much processing (others wil have the expertise on this). I have often though we as share holders should actually find out what the attitude of our Ambassdor actually is! on paper at least one of their roles is to support UK PLC and the UK still has a large interest (and skill base) with BP and Shell (and others) moving away from their excessive green policies and of course they are sitting on a pile of cash.

Hi JME. Baically yes. Charles Dickens who was a regular visitor descibed it as Londons green oasis. The area was until recently all leasehold properties but now under the Athourity of the Dulwich estate (similar to the Grovnosnor estate). It was puchased by Edward Alleyn in 1609 who founded the education charity and basically set all the ground rules for the managment of the land. They give away about £12,000,000 a year mainly for education but other good deeds as well. 11Mins by train from Victoria yet 300 acres of ancient wwood land, golf course, and vast areas of sports fields. The Art Gallery is stunning and very valuable (formally the polish royal collection - it was donated!) I could go on as I was born and educated there and still live there but going Dulwich College the history was rather rammed down my neck! As a bit of fun as a kid I was sick all over perhaps the most important first folio of shakesperes works! It was just lying around in the school libary -how times have changed- have a pint in the crown and greyhound in the village (known as "The dog") In truth it is how most of London was until the advent of the Railways a series of villages surounded by farms. I can still remember the last farm just now a council estate on the edge of the estate.

Sorrey for the spelling mistakes! I was ranting

I am getting very fed up with those who seem to want to just have a go either at others or with the Company it self ( I will explain this) There are infact very few of us who have any expertise in what is basically an oil and gas exploration Company. I will admit I would rather go back to the days when the few experts on here where talking about well head pressures and how to deal with them etc were explained by people who had actually done the job. They were always will to educate me and I expect many others on why this or that and often why it causes delay. I learned a lot and it was ALLWAYS done in a very garacious manner. Remember they earnt a lot of money(I hope) problem solving at the well head. To add to this, some others had/have much expertise which covers the whole business from in the ground to in your tank so to speak. I am personally gratefull to all of them and hope those days come.

We are unfortunatly in a different position at present both us and the senior Director of the Comany have been duped by a former fellow Director possibly even criminality. It has basically caused a situation where most Compnies would have just folded. We should count ourselves lucky the SN is made of sterer stuff than most and is doing his best to get us back on track through what looks to me as a leagal minefield. This way outside my scope and I expect many others (most of us could not even buy a house in leagal terms) At present we should all just be gratfull for both looed and a couple of others who devote a lot of time and effort in their own time in doing what they can to keep us informed. This has also included explanations as to why there is no public information from the Company. Add to this that the Company does Comunicate without putting it self in jeopody - Most Companies would be more tight lipped I can assue everybody. I is about time time some people were a little more thankfull for what we are getting! I am sure those who are at the fore at the moment would rather not have to devote the time and effort as they HAVE to be very circumspect in even the language they use. They certainly do not have privilged information and they share what they can in a way that does the Company no harm. Thats NOT EASY!!!

I add that not as a side issue we are viutually next door to a war zone. I may say something on that in the near future but it does affect things.

I say we all have the same ambition to see some sort of return on investments - we all new it was high risk- and be more than gratfull that we are still alive at least. (Yes it may still go all wrong) but be very very thankfull for what we have got both in terms of the good people on this board and SN who seems to have a very tenacious tendancy to survive - he is after all able to just walk away and retire.

Rant over