Member Info for gwilliams316

I can confirm that i am in a group of 3 that are looking at the actions of the company and all of its Directors.

I must stress this is not anything to do with the "7", previous Directors or anyone else. It has been born out of pure frustration and bewilderment at the actions of the Board and in particular the leadership.

We are in correspondence with multiple agencies regarding the actions of the company. Not just one person, it must be stressed. However in this instance as Mr Lunn appears to be benefiting from such a vote we believe this should be made public knowledege.

We have consulted legal opinion and have a solicitor engaged at present and are working on multiple angles to hold them to account not just on the GM matter.

We are sharing the info we have found for you to make an informed decison in the upcoming GM. All i ask is that you vote with your eyes open on how it will affect the future of our investments.

Our preference is to vote no to the GM and maintain a strong percentage of the company in private investor hands. This will alllow us to have real influence at the AGM or EGM whatever comes 1st.

But in order for us to keep the Directors as honest as possible we need the weight of all of your shares.

Good luck, after all this time we certainly deserve some.

Were asking Lunn to be open and not try to control the business via the back door.

Do you not think we should have been notified of the affect of this vote.

Do you not find it strange where the chairman will either be a director or shareholder in over 50m shares if this goes through and we havent been told that will be the case.?

Personally for me id like for RM to run the company without any interference from Lunn, get the JV complete, deal with the petroquest loan and get the rigs on site.

We have to ask the question as to why Lunn is releasing all the news and is the petroquest issue the blocker to the JV happening. We should know as i would say this is material to the future of the business. But again nothing. Its why i cant back lunn.

Its failed deals, failed auctions and a wall of silence. If we think giving him 50m shares to control things will get better then we need our heads looking at.

Ive share my findings.

This share payback as far as i can see brings no capital into PPP. What is the reason for it now???

If Lunn wants complete control then id like to see what value or funds he has bought to benefit us.

At the moment i see mass dillution through Gem and a failed auction.

He hasnt managed to get the JV over the line nor deal with audit.

Im voting no and i hope others do so also.

We need are shares to count at the AGM not be watered down and in Lunns control imo.

How is this being held back???

I agree with gasman. We need to be in play at the AGM and Rm and Sl need to explain wtf is actually happening.

Weve heard nothing on Lunns rns updates concerning the apparent debt issues, the Jv deal or the accusations against current directors.

Nor have we heard anything at all from RM.

Its not good enough in my opinion and now were being asked to give all the power to Lunn, hes not set out that he has an interest in these other companies either.

Why would it not be made clear, thats a question we should be asking ourselves.

Lets give ourselve a chance to have a powerful voice at the Agm.

M22c im suggesting we all vote with our eyes open.

You can all look at the info provided and make your own decision if you think you should vote no or yes.

@zag

Me and two other shareholders.

I am not pro anyone to be clear.

Im pro PPP and returning a good number on our investment.

To be clear i will be voting no on this matter.

The board should be active in delivering for its shareholders, i do not see how the GM does this.

Guys and girls

Before anyone votes id suggest viewing how a vote for yes would put Petroquest(loan compnay) its Directors & shareholders in almost untouchable control of this business. Now you may think thats a good thing you may not. However we should be aware of the consequence of the vote.

We would be in a position where the company who is owed circa 3m is in complete control. In my opinion the cinflict is too much too ignore and not be challenged and is something that i am surprised that we have not had an Rns in relation to.

There would be a benefit not to have this relist or trade as the loan is linked to licenses.

This is of course conjecture on my behalf but the question must be asked.

We should have communication on this and in light of no communication from the business we are left to research and share between ourselves.

Please correct me if any of these numbers are wrong as i do not wish to share inaccurate info but this is the best we can do without information from the company on the matter.

Steven Lunn and Phillip Henderson are the shareholders of Petro quest.

After the share payback they will be share holders or Directors in the following.

YORK energy Ltd - 20.85m - Lunn is a Director

International immobiliare ltd 17.9m - Lunn owns via Anzcorp trust. Ex secretary estate

Fhf securities (A'Asia) Ltd - 5.45m Henderson owns( note Tom Evan was recently removed)

Griffin Asset Management ltd - 3.25M - Henderson mnority of shares via Pavjash

INVICTORIUM- 3.2M - Lunn (note recently Lunn has become tbe owner and director).

The total is just over 50M shares.

This is based on linking the companies via the registers in both the UK and NZ.

Hope this helps.

We will also be releasing a website and powerpoint with all the info on in the next day or two.

The Gm has landed on HL today.

No mention of the amount of shares that can be raised. Its open ended meaning its carte blanche for more and more dillution.

This would be turkeys voting for xmas in my opinion

I think they are very confident on the asset.

Hi Zag

I am putting soemthing together that i hope to share with all shareholders sowl we can all vote with our eyes open one way or another.

Before we get mass dillution we should all be aware of what the vote does and how that affects the future running of the business and if we think it is positive one way or another.

I will look the share hopefully Tuesday.

ZAG we have to understand the petroquest situation and how the issuing of the shares back gives SL control of around 50 millions shares.

For me the guess is 25p share price is not the aim here in my opinion, its short termism. As ive said previously i dont think he is here for the long term.

The share price will be linked to the GV deal which isnt over the line and the board appears split given the sporadic nature of releases, names and who is releasing them. This doesnt bode well considering RM links to GV.

Without that deal the sp will never reach 25p imo, in fact when this retrades it is ikely to drop without sifnificant news.

So we will be in a place where the chair controls circa 50m shares and have no JV with Global. At this point its unlikely he will be able to be challenged in any way in any decisions on financing, share issue and loan payments going foward.

That in my opinion is a disaster for private investors. This is just my opinion of the situation of course. Dyor.

The 60m isnt a raise. Its to pay back shares owned to the company by said shareholders.

You would think at this point its not the most importaint issue.

However as someone has eluded to earlier if the chairman was looking to consolidate power what better way, than to have circa 20m shares sitting in York energy new Zealand that said chairman is a Director of.

Not forgetting the Petro quest loan of course, that the Chair appears to have inherited from our former Secretary.

It tips the power of the company one way and the potential for conflict is huge and just too much for me to support.

Too many crossovers for my liking.

Relist and get the money from the placings. That simple.

No need for the Gem deal at such a discount. Its shocking.

Still no audit

No AGM to ratify directors who have not had sharholder approval

Potential for conflict over the Petro quest loan

Questionable rns releases on existing and previous Directors and actions

Questionable rns statement of staying solvent, were 5 months after the fact

No progress on JV

Failed auction

80m Gem warrants, 60m share payback means over 100% dillution.

Calls AGM, issues an adjournment before its starts.

Its for these reasons i do not beleive anyone should be voting for anything this chair has put foward.

Is there a way of finding out if the Audit is sitting with the company.

That would be a huge issue. Not finishing the audit so not to trade and hold the AGM.

Highly illegal i would say if that was the case.

Good thing theres no other pressing matter like audits to complete, adjiurned AGMs etc nope up to top of the list historic share payback.

I disagree this is all about control of the company. Im asking myself what a 75 gear old man sees as the long term furture of the business. Theres no guarantee he will be here in the next year. Im not being disrespecful to him but what long term strategy is he setting out when being honest theres a good chance he wont be here.

So my mind goes to, he wants confrol for short term money and gain. We know he has a claim to the peroquest loan.

Has issued 80m warrants at a shocking price.

Failed with the dutch auction.

Its a no from me

This about Lunn getting hold of close to 40m shares to dictate the play how he wants.

You were warned this would happen.

Ill be voting no.