Member Info for Gary1960

There will have to be some sort of continued oil/gas production - after all how is PH going to continue with his outrageous salary if the company makes no money at all.? Don't forget he lent the company money (at 16% interest) so he also has to get that back - or take assets in lieu of payment..............This company seems to be run for the benefit of one group of people and it is not Private investors. Why the current silence? - well I am sure when PH and his cronies dream up another money making scheme they will be sure to let us PI's know - just to rub our nose in it.

Dire stock markets, low oil prices, a covid 19 pandemic or any other problems have never stopped the BOD in general and PH in particular from stuffing their pockets full of filthy lucre. For those of you who have forgotten or were not here to witness it - PH and his chums were busy working out their free share entitlement to FOUR decimal places. It's a pity they couldn't expend the same level of energy to helping the SP stabilize. If payment "for results" was actively applied to this company then PH and his chums should have had their wages cut not 40% paid in shares. As far as I can see PH and his band of merry men don't care two hoots about the parlor state of the share price nor the effect on PI's in general. While I am an advocate for the company I am no fan of this current BOD.

Actually they do not keep us completely in the dark the BOD are quite happy to tell us (PI's) just what fantastic pay cheques they are receiving. and just how many millions of shares they have added to the number of shares at issue. At IPO I believe there were 200 million shares at issue at 3p each now there are nearly 800 million shares at sub 1p and a 16.6 % spread. As it currently stands there is nothing to draw in new money , new investors or new interest - just more promises of "jam tomorrow". I really do hope that the SP will get a serious lift soon - we are all in need of a" positive" now and again.....................

Hi Hawkspear - Having been here since the get-go I have also had to average down but everyone has their limits and I have reached mine in terms of adding any more money in here. Currently I am sitting on the fence, I am not rabidly screaming for people to sell up but neither am I advocating for everyone to add more.

It needs a lot more than two trades to get this moving in the right direction. At present I am holding just over 2 million shares and will not be "accumulating" any more and I am 100% certain that I am not the only PI who would say that. As far as I can see there are lots of people sitting on their hands and waiting - like me - I suspect they are playing the long game.

At present time 350 K shares bought versus 355 K shares sold - a very low volume of shares traded plus low number of actual trades = no change in the SP - we are stagnant until such time as there is game-changing news.

Stop feeding the trolls. All I can see is green boxes………..

Rocklawn - I don't actually care if PH is paid in dollars, Euros or pounds sterling - he is paid too much in my opinion.

Good of you to pick up on my error with the "£" symbol - I won't be so childish as to point out all of your spelling and grammatical errors.

Hi Hepseal - Doing some poking about on the web - in March 2021 the average CEO salary in the UK was £ 362,000

(source - https://www.salary.com/research/uk-salary/alternate/ceo-salary/uk) Just to correct you post below I didnt actaully say what PH was being paid - if you are to read my post again what I said was:

(Quote) "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."

Hi Hepseal - Where do I find the most recent annual report please - looking at company filed records on Company House website only shows filing for 2020/21 PH's salary then was £ 567,515 - it surely must be way over that by now.?

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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".

Madmanrob - if the name fits - wear it. you have me on filter DILLIGAF.?

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.

Grower - no it’s not to be sniffed at but it should be presented accurately. There is a huge difference between 10 million pounds and 3.3 million pounds.

You missed an important detail Astec123 its 10million Georgian Gels (local currency) there are 3.3 Gels to the pound so its about 3.3 million Pounds...........

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.