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Marks is so lost ….here is a taster of whats wrong. FOOD DEPT The prices are going up. ( nice short term gain there ) long term pain. The quantity is going down. portions getting smaller. I noticed so will others. The stores are laid out incorrectly. example - the frozen dept comes first - it should be near the end so that the products don't start defrosting. nobody buys the ice-cream because it melts before you leave the store….no such problem in the German discounters, Put the 'dine in for 2" offer at the end of the shopping route, not at the beginning. offer luxury lagers too. ( no wino issues there ). yellow sticker discounts at the end of the store…..not in the middle of a shop. hits margins. The daily lunch deals are a complete mess… what's in the deal?, nothing matches, customers endlessly frustrated, great idea - executed in abysmal chaos . the point size on the price stickers needs to be much bigger…older folks can't read them. The products are too nationalized and not localized enough - dying days folks. The sausages are simply not suitable for children ….revise. Bacon range is simply dreadful - basic basic basic range, Eggs are over the top expensive …customers don't like essentials overpriced. Milk - seriously look at those labels, water is now a huge product ……don't hide it….put it near the tills. salads --- good but same auld same auld in a nutshell They need to work a lot harder. Now that took me 15 minutes….who do I bill?

The reason I look favorably 1 I think that horizontal drilling will really assist here. The flow is increased three fold. 2 the infrastructure is largely in place. 3 economies of scale coming into play. 4 lots of tie in wells in nearby locations to the centre of operations 5 oil india expertise at hand. 6 working capital now in place. 45 million $dollars, 7 the oil is already pumping there, they only need a few decent wells and the cash will start increasing. 8 they can soon export the oil at double the current price. to sum up its looking really rosy. they just need to get moving asap, a few lucky wells, the SP will really start motoring,

I would say Natlata is entitled to a seat on the board. 1 Largest shareholder 2 well connected politically 3 experience in the region . 5 has some good suggestions regarding using two drilling contractors etc ? 6 keeps the board on their toes . I think the current board is ok and deserve some credit for getting the farm out deal over the line. BUT……the oil has to flow in greater volume.

Good to hear Natlata saying they are not selling any shares and will retain or increase it's shareholding - the current BoD bit off more than they could chew and were trying to make a jigsaw with half the pieces - the Oil India money will help join the dots and make the most of the infrastructure . If they get lucky with horizontal drilling it really could be a bonanza -

kev odd that so many approved the Farmout but rejected the BoD, given that the Farm Out was cancelled if the BoD was overthrown … Perhaps Natlata has more shares than we realise.

consider this, what would you do if you were the CEO of Oil India. You have just spent 80/85 Million on a 50% of the license. when you can but Petroneft for half the price. I think as soon as the EGM is out of the way, I would start buying, citing the Natlata disruption fears as a reason for building a small Board Of Directors Supporting Stockholding. I would try to build up a 10% to 12% stake. when the license starts making money, this could be increased to 16 to 18%, enough to keep Natlata in check and enough not to scare the life out of the BoD with whom good relations are important. It would also keep manners on the BoD too.

Can't go tomorrow myself - Davy are voting with the BoD - so unless their clients instruct otherwise all shares held by Davy brokers are going with the board- that is a lot I imagine - there will be some Craic if Natlata win the day - but I doubt it - doubt Natlata will sell off shares if they lose - the oil Is about to start pumping - would you sell ?

given all that's happening with the company it is strange that volume is not much heavier. what I am hoping is the they get drilling the 'low hanging fruit' wells, close to the main pumping pipes, and make some good announcements law summer, and later some good financial reports. it's so quiet it is scary….

If the BoD carries the day at the EGM additional work will commence immediately (I read) , as both stakeholders are eager toget drilling and pumping -as soon as this become successful and profitable the market will react - with $45 million to drill cheap and easy to connect to the main pipeline wells - it looks like a winner - but once bitten twice shy lets see - EGM >>>

Phoenix magazine (April 25th) have a long article on the current site at Petroneft. as usual it is pretty much on the money. It states the shares 'look grossly undervalued). It is hugely critical of the current board but favors the Oil India deal over the Natlata deal. It says the game is up for Dennis Francis, but has lots of praise for Tom Hickey the former CFO at Tullow Oil who is a non executive director for the last two years… god knows they need someone like him on the team…if Natlata thinks it is going to get investors support at the EGM they will be surprised accruing to the magazine, it adds the only way for Natlata to win this is to buy bucket loads of shares in the coming weeks…No sign of that yet….and its opponent in OIl India and Petroneft BoD can start buying too……praise the lord…to win just once

when the farm out was announced the elephant in the room was the $45 million. for me anyway, they have given some clarity on that. It's first man up funding and not 'back to back' joint contributions. This was the main info I was looking for. Perhaps Natlata should request a single seat on the board…. as a compromise…I tend to support the board but then I am a new shareholder and have not the historical pain of it all.

when the farm out was announced the elephant in the room was the $45 million. for me anyway, they gave given some clarity on that. It's first man up funding and no 'back to back' joint contributions. This was the main info I was looking for. Perhaps Natlata should request a single seat on the board…. as a compromise

I agree. why is the price dropping? Trade seems very light mind you. I am a small investor and something of a beginner, I can't call the EGM, I can call my own value, and its a lot more than the current price. so I'm holding for now. also the BoD do little to help giving our scant details of the deal. also it may suit Natlata to have the price drop before the EGM….for me it's a hold.

Natlata is correct about the $45 million development money - is this first man up financing or is it' buck for buck' joint financing - in which case Petroneft won't have the money ( in time at lease)? As for the 3 years jobs - we don't know was that Oil India's request ? At My hunch is the day traders took profit yesterday , but there seems to be investors too - I expect them to keep buying ( in large blocks of 1m shares at a time - and again I think the price will rise . let's see -

It takes a bit of time for the bigger guns to rotate, thats what will drive the price up, I guessed 7.50 at the close today, and 9.25 by the end of the week. Investors in India are only waking up to this news today. If Natlata attempt to buy shares, PTR Mgt and Oil India will be forced to act. both actions will boost the share price. If Natlata sell at these levels they are selling out for 7p a share knowing that Oil India paid the equivalent of 9.25p last week. My gut feeling is the people selling are day trippers, in and out, the artillery hash' even arrived yet. and they WILL crunch the numbers - upwards.

If Natlata starts buying more shares I expect Oil India will do a cash for shares deal with Petroneft . Diluting Natlata every step of the way - they could also take an interest in licence 67 - the Company could do a buy back of shares or Oil India could directly buy Petroneft shares to keep Natlata at arms length - ah well - let the games begin

What would you do ? Me, I would express my disappointment and then demand a seat on the board - from there use the $18m I was going to use to pay the debt off to acquire more shares edging my way to 30% and a take-over. Time scale ? He can move too slowly or BoD will react as might Oil India - who won't want Natlata as a partner

The horse has bolted for Natlata. His best option is to support the deal, pretending to have some reservations , and aim for a seat on the board, then use the $18m he was offering to increase his stake holding in Petroneft .push from 16%?stake to 30% , anything below 9p is value .remember Petroneft still operates the license under this farm out -- crucial point for Natlata

Ok , finally crunched the numbers based on market values other operators are willing to pay today for the remaing 50 % stakes shares in petronefts assets here - it's pure fire sale market value as sold tomorrow to neighbours and partners it breaks down to 9.25 a share -could take a few days for the market to do the figures - licence 67 is worth 8m stg minimum so I used the lower guaranteed figure - also used the oil India valuation for licence 61 - shaving 50% off the 45 mil as they will be 50% benefactors. 4 million in cash - less 35 million us $ debt - the new base share price is exactly 9.25 - I only allowed half the 5 mill performance cash in the calculations - I predict it will hit a SP of 7.50 on Tuesday rising to 9.25 later in the week, let's see interesting times , it's now a buy for institutions

they got 85 Million for a 50% stake……hey for another 85 Million you can have the other half - sack the BOD and lets split the cash !!!!!!!!