Member Info for gordon1237

Wolf. Yes, IF they returned £7 million out of the £10 million in theory that gives 0.045p per share.

Allowing for that being some time in the future that might cause the sp to go to the high 0.03's.

Will it be as much as 7 million ? None of has a clue what s significant amount is. Might be half of that for all we know.

Wonder why they are doing it through buy backs rather than a dividend ? Maybe this way will give more bang for their buck. Thoughts anyone ?

Personally, I am not expecting further raises.

Neither us nor the company can be sure when the first tranche will occur as it depends entirely om when GOI approval is received. Last time that took 6 months. Let's hope it's quicker this time.

BTW. You would have thought that once the delist was cancelled it would have gone back to where it was before it was suggested, which was about 0.0175.

Thanks Toberino for the good wishes. I am nearly 80% down, so little point in selling now. Hoping to able to get out at some point with maybe 50%.

Gla.

Pleasantly surprised

Have a choice

Rossannan. Not sure that we'd have a choir but to tolerate it. Maybe we'll be pleasantly sure for once

Puzzles me that we're liable for any tax given the massive losses on Cambay of 125 million usd +.

Nice uptick with a steady stream of buys. Another 40 days like this and I will be in profit. Lol.

Surely by now they should know how much they intend to give back to their long suffering shareholders ?

Yes. Sorry sajad, they have been trying for many years without success to attract institutional investors. It's impossible to be believe any would be interested at this late stage.

Quite amazing the transformation of your opinion of the bod since you met them at the GM. Only a couple of months since you were saying they were crooks.

Wolfman. I very much doubt there will be any other potential buyers waiting in the wings. When they initiated the farm out process they said it was expected to take 2 to 3 months. It actually took 16 months, so I don't think they were queuing round the block to take part.

Rossannan. The valuation was backed up to some degree by the Baker Hughes/Schlumberger report of 2017 which recommended a methodology for successful fracking in the Cambay geology. This was partially demonstrated in the refrac of the 77h well, although the issue was confused by the massive ingress of water in this old depleted well. For these reasons you are right, the market never believed the valuation, even though it was much higher then than now. It has still not been conclusively demonstrated that commercially successful fracking is possible in the Indian geology. Presumably, Selan must have been convinced and must think it is worth much more than they will have paid in total.

The ironic thing is that in the past I was accused on this board of deramping and being far too pessimistic about future prospects. Lol.

I now have an average of 0.048 and will be amazed if I get even half if that back.

Wolfman. The asset is worth vastly more than £10 million which is why I voted against the sale. The company produced an assessment a few years back which valued Cambay at around 200 million usd.

Sajad. Thanks for your comments. Appreciate the change of heart.

The board may well sound relaxed but in light of their abyssmal performance over not just a few months, but the last 4 years it's hard not to take anything they say with a massive pinch of salt.

Thanks anyway.

Sajad.

" Im not providing an update on what was discussed.

I an not an official spokesman for the company.

Maybe contact Roland or attend the next meeting."

What a miserable churlish attitude. There are many including myself who would be unable to attend the meeting. What would it cost you to share with fellow investors any useful information gleaned from the meeting. Can't imagine why you wouldn't do so.

I'm afraid I see no way Roland will resign and no way of forcing return of all, or most of the cash.

If I sold now, I'd only be 77% down. Lol.

Don't like this bit

"In accordance with the result of the shareholder vote, the Company will no longer proceed with the planned delisting of the Company's shares on AIM at the present time and will focus on developing the Company's business and returning value to shareholders while remaining an AIM traded company."

" at the present time". Does that mean they will sit on their hands " until AIM ask them to delist +

Thanks Laura but all I did really was keep a tally of people's intentions.

Thanks Wolf. Appreciate it.

Quite comfortable in the end.

52.3 % in favour of delisting.

2.65 billion in favour

2.42 billion against.

2 billion of those in favour must have been Republic so of PIs who voted nearly 80% voted against.