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Hi Rocklawn - Yes someone bought a million shares - however the total number of shares traded today (bought & sold) was 1.46 million shares that is from shares at issue (724 million) - that equates to a 0.495% It might not seem that much of an issue except that I and many other share holders (I believe) hold many more shares than that as an individual investor. How does PH's salary stack up as a proportion of the company's value - the Mcap is currently 7.46 million
I would be very surprised if he is not being paid 10-15% of the company's value and for me at least - that is a real issue.
Having watched several other oilers over a number of years it seems that at least some of the companies you talk about have managed expectation and have seemingly pulled a "rabbit out of the hat" by way of new licenses, new MOU's, farm-ins, farm-outs - whatever - to shore up their SP. Here is seems that the SP constantly has failure priced in by the market. The spread is often high (15-20%) and in itself is not a great investor magnet. While it feels like the company is making progress, it seems the wider market does not share the enthusiasm of some on here. As I have said before, I am in the lucky position where I can write off my investment in here and if I recoup anything I will see it as a bonus. Contrary to what another poster on here has said - I have money but I will not invest one more pound in here to simply chase my losses.
Hi Chesh - I appreciate your reply. Having been here since the get-go and watched all of the twists and turns the company has taken - I have seen my fair share of schiesters come and go. My big grumble has always been with the very poor communication by the BOD in general and PH in particular. I do feel that the "Not releasing market sensitive information" line has been used as a smoke screen to withhold pertinent details such as drill dates, flow rates and decline rates. I know information "can be found" but if it is buried in a CPR or not clearly defined in an RNS it might as well not be there.
Rant over - let's hope the drill keeps turning and that there are more positive results to be reported in the near future.
MMR - Quote -" It upset a poster with a high average and no money to lower his average. But if you have funds it can be a good strategy. "
You know nothing about me mate so I would wind your neck in pronto. I am heavily invested here - yes, but my average is not what I would call "high" considering some people have averages in double figures. As far as having no money you are far from correct and you should be ashamed of yourself for doing that and I still don't feel the need to come on here to boast about my "low average".
Tomorrow seems to be the only thing on the menu. Having been invested here for more years than I care to remember I will definitely NOT be adding to my share holding here anytime soon. Interest in the stock is not driven by half truths and veiled language which seems to have been PH's modus operandi from the get go. The only people who appear to be making money here is the BOD and contractors. The real problem I see is that as soon as the SP gets a decent rise there will be people who have held for many years rushing to get out the door - many with losses ranging from the small to the massive. For myself I have written off my investment here - any money I get back will be a welcome side event. I am also 100% sure that there are many like me here sitting on losses. Its okay for people to come on here sprouting rubbish like "My average is only 1.3p and I am very happy with the current situation" that is rubbing salt into the wound of people like me and countless others.
Two years Chesh so it's not like "Jam tomorrow" is on the menu. A lot can happen in two years. Covid19 came out of nowhere and what did that do to oil prices.? IIRC it kicked the guts out of the global oil market - producers couldn't give the stuff away. There are other viruses and nasties just lurking in the background waiting their turn to jump from a non-human host and start another pandemic. Am I happy to wait for another two years to maybe just break even or get away with a loss here - "no I am not" is the short but honest answer.
KPI's - Well I don't think looking at the Key Performance Indicators that the BOD (and specifically the CEO) have hit many of them. The key point I took from that was that PH has the opportunity to add up to 100% of his salary in added bonuses there is also acres and acres or "guff" which sets out to justify paying bonuses against the a background of financial hard times for everyone else (private investors included). The fundamental things that they do not seem to have achieved based on any metric are the following:
1. An increase of uptake in Block Energy shares being purchased
2. An increase in the SP linked firmly to commercial activities/success
3. Reining in on bonuses whether paid in the form of cash, free shares or "options"
4. Attracting new investors - most days there are very few share trades and often they are made by existing not new investors.
5. "Communication" still seems to be something that the BOD views as optional rather than necessary.
And - before I hear cries of "sell out and move on" - I am still invested but after years and years of stagnation there needs to be some movement upwards and a cap put on the ever expanding number of shares at issue. Looking at the current share holdings by the BOD it looks like plain naked greed.
Tsbs1 - I have to say I agree 100% with the sentiments that you express - it seems apparent just who is benefiting from the increase in the number of shares at issue. Put it plainly - the BOD. As far as I am concerned, I do not buy the "employee incentive" BS the way the company has been run to date the BOD should have voted themselves a pay cut and not given themselves pay rises while stuffing their pockets with free shares..........its nothing short of a disgrace. People on here witter on about a lack of PR or even just communication from the BOD well it looks like the only thing they can communicate is how good they are at diluting the share price.
Deeez - If I felt as strongly as you have expressed it - I would have been up there in the big smoke giving Mr Paul ("Greedy Boy") Haywood and the rest of his Merry Men a damn good talking to...............Ah well, maybe he can start a new caper like taking from the rich (BOD)and giving to the poor (PI's). What happened to his so called "increasing value for shareholders" anyway ?
I cannot understand is how exactly 0.17% of the shares being traded can lead to a 3.9% drop in the SP. This is either a deliberate act by the people who make the market or it is not following logic. This share seems to be a soft target for SP movements that happen FNAR................in either direction. Good luck all LTHs we deserve a bit of reward for all we have had to go through.............look at some of the trolls we have had to stomach.
(Quote) "I hope at some point we maybe in a position fir a dividend".
Personally I would be chuffed to bits to have a decent SP - Lets not get ahead of ourselves here - the SP has risen about 0.15p to put this in perspective - another 350% increase in the SP and I will reach my breakeven point.