Member Info for HawaiifiveO

Zumore

I cannot see Bell being able to buy a significant number of shares on the market to sway the vote, my 'concern' is the major shareholder(s) will vote for Bell to remain, I know nothing about them but goodness knows if I had the amount of money invested here (and losing heavily) I would want Bell out ASAP, his promises come to nothing for most of the time.

I have swayed with the argument put forward by Helpful but having listened to Bell since last June I have simply had enough, he needs to go, there is a share price discount of 50%-60% because of him IMO, even Doc Holiday suggests he should step aside and allow a more dynamic executive take over.

We will see what happens, thankfully I am not in high like some here (well under 1p) but have been around AIM long enough to see change is desperately needed at Red Rock.

The Action Group now have a chance to either work with the BOD or call a EGM with resolutions to have them removed, there is also the possibility that certain executives may be advised (or decide) to resign beforehand.

Readers need to be wary of bulletin board posters suggesting the company will go down the death spiral route, no way will the Action Group (the shareholders) allow the CFO to pursue this avenue, he struck me as somewhat arrogant during the presentation but now has to tread carefully and work with the shareholders.

The aim has to be restoration of shareholder value and regaining market confidence, the current m/cap is a mere £9m there could be a great deal of upside ahead.

Expect to see more upside over the next few sessions (assuming market conditions hold up) my bet is there is at least 20m-30m shares that have to be bought back by the forward sellers. We will see.

DYOR etc

Link to proxy form & resolutions

https://www.rrrplc.com/wp-content/uploads/2022/03/2021_RRR_AGM_Proxy_WEB.pdf

I see the AGM date has been set for 31st March (a Thursday) Bell has the time set for 9am - again he hopes no-one will attend.

It seems Bell is just itching to be able to issue more shares at will, no chance in my book, he must be stopped.

I shall be voting against the resolutions below & I hope anyone with real sense will do so as well.

2, To re-elect Andrew Bell as a Director.
3, To re-elect Alexander Borrelli as a Director.
5, To authorise the Directors to allot equity securities up to a maximum aggregate nominal
value of £20,000
6, To disapply pre-emption rights up to a maximum aggregate nominal value of £15,000

Nothing better than seeing the forward sellers burn - ignore the scare tactics - ODX management are in the palms of the shareholders now - well done Action Group

One hour into the meeting and no RNS concerning the placing vote, interesting indeed, when this is announced to the meeting it should usually be announced to the market at the same time.

Maybe the 'no' vote has it ?

Remember Petroneft sells the vast majority of it's oil into the local domestic market and has options to alter or stop it's 25% to 30% of export oil which is sold into the Asian market.

The company is under radar and the share price is not a reflection of operations but sentiment, sentiment can change very quickly.

The key statements from RNS are here......

'Historically the Company has sold 100% of its oil production on the Russian domestic market'

'Initially PetroNeft will export between 25%-30% of its production from Licence 61, however PetroNeft has the right to increase or decrease this volume, on a monthly basis, depending on market conditions'

https://www.investegate.co.uk/petroneft-resources--ptr-/rns/export-of-crude-oil/202109230700086808M/

The media was not quite as I expected whilst Elephant Oil and Red Rock were mentioned the talk was around Andrew Bell. Doc Holiday said he liked the man, could spend hours chatting but as a CEO he implied the masses do not like him and if he had any real thoughts on Red Rock doing well he should step aside and let someone else take the reigns pointing to other companies that have done the same and thereafter added significant shareholder value.

The event was more like a social chat, one fellow felt RRR had projects that could add significant value depending on market conditions etc etc.

https://twitter.com/MarketMusing/status/1498269737708576770?s=20&t=ngdf3NA_cNOadDHBWIH__A

Still awaiting the IPO of Elephant Oil and New Ballarat Gold as well as drill results from various projects, the AGM draws closer when shareholders have the opportunity to remove Bell.

It looks like Red Rock will receive some media next week with the long awaited (for some at least) return of Doc Holiday who has been absent of around 1 year.

Looking at the Stockbox Twitter promote it seems Red Rock & Elephant Oil will be featured, this should (finally) draw some attention to the farcical valuation anomaly of RRR to peers.

Recently RRR tweeted a nearby peer to Elephant Oil is valued a $1.14 billion, so what will Elephant Oil be valued at when they list on Nasdaq, it should be significant and provide a major boost to the RRR share price who pre IPO have a 5% stake, it seems Doc Holiday has latched onto this, he is well followed, as we know even modest buying demand can move the RRR share price significantly.

Could be a exciting week next week therefore.

https://twitter.com/MarkEJFairbairn/status/1497254481418989572?s=20&t=vxp33_X-mP8fV4JntgXjdA

They admitted they used to read investor tweets back in May 2021, I bet they don't now

Here is the infamous Tesla tweet dated 7th May, director sales (where their profit could have easily bought a Tesla) occurred in February and April.

'A quick clarification (because we read your tweets and we’re a bit worried someone will buy a Tesla over the weekend!)'

https://twitter.com/Omega_ODX/status/1390769834301050886?s=20&t=aLM3E3lk4YsZdxcperP0gw

Regarding tomorrows presentation, most company directors on the Investor Meet platform are happy to show their faces during the presentation & the Q&A, it was noticeable that both Coiln King and the new CFO decided not to in November, one wonders if they will be too embarrassed tomorrow, we will see, if they do not then you can draw your own conclusions as to why.

Having taken part in the November presentation event investors should be warned of the tactics used by the BOD last time, they counted the clock down by waffling on and on about nothing material, they were clearly aware that investors wanted the Q&A session but when it was due they had used up the entire 60 minute time allocation - I suspect they will try this approach again so be warned.

For those unfamiliar with the Investor Meet platform, once registered, you receive a link which contains a email address to submit questions, it is also possible to ask questions during the meeting via their platform.

The platform is quite professional, if the BOD use similar tactics to last time that will be a giveaway, frankly their performance has been diabolical and unprofessional to say the least.

Our long-time holding in Elephant Oil increasingly exciting as it approaches IPO. Just awarded PEL 101 (light yellow) in Namibia to add to its onshore Benin acreage. Reconnaissance next door (grey) has a market value of $1.14bn on the back of these Kavango Basin assets.

https://twitter.com/RRR_RedRock/status/1495740552096137221?s=20&t=RHjJOI6VYHS9mEFVI6cJmw

With all this news due now is as good a time as any to buy in or add in my considered opinion, AIM is like a casino, news-flow equals volume, volume equals share price upside, sometimes spectacular upside.

The body language of Andrew Bell seems overly confident and positive all of a sudden, I just wonder how much the equity stake in Elephant Oil (RRR are one of the largest pre IPO shareholders) could be worth, in the past he said $1m-$2m but recently he suggested he expected the shares to fly post IPO.

Buy low sell high !

It is totally obvious that ODX management were sounding out entities in the City for weeks ahead of the 5p placing announcement dated 11th February, they seem to have had no idea how damaging their apparent dithering would be to shareholder value.

Clearly there were major leaks from supposed insiders, it is a nigh on certainty that the apparent new 'institution investors' that management boast about plus other entities have forward sold ODX stock at prices from 15p downwards.

Having listened in to the 25th November conference call the Chief Financial Officer boasted that ODX had £2.5m cash and overdraft facilities, he also added that they could potentially secure new credit lines. THERE WERE NO LIQUIDITY CONCERNS in late November therefore, this is important as it strongly suggests that ODX will not go broke if the proposed placing does not proceed which some entities are trying to suggest, you might say scare tactics.

My view is that a NO VOTE is the best option for shareholders, it will stop hideous dilution and also mean that a significant amount of forward sold shares cannot be delivered, these will have to be bought back in a pretty illiquid market.

If the proposed placing is blocked there could be one of the largest bear squeezes on AIM resulting in a significantly higher share price and restoration of shareholder value.

DYOR etc

Looks like a NO vote could well be in the interests of shareholders, still chatter about significant forward selling of the proposed placing, if it does not proceed there could be one heck of a bear squeeze, one whiff of such an event would have every man and his dog trying to buy ODX shares in a very thin and illiquid market.

https://twitter.com/Oilplayer2009/status/1494574677175513089?s=20&t=WK6VAGQIdXw2og0q3M88yA

Interesting commentary here..

https://twitter.com/Oilplayer2009/status/1493920622988173316?s=20&t=xr-gANjHv5S56iasC-HbMQ

Congo drill results

https://tinyurl.com/ytrh7ty7

It is good to see a new large buyer and ex major holder taking a position here again, I suspect Bell will pull more rabbits out of the hat before the AGM to try and save his skin so expect to see more share price upside over coming weeks.

Volume should start to drive the share price higher, look what happened to PREM recently, the share price trebled, it could happen here.

Very good initial results indeed, lots more news on the horizon, I would like to see a sustainable value event nonetheless, conditions are ideal for the Elephant Oil floatation in the US, that could really deliver some meaningful upside for shareholders.

In the meantime drilling results are expected from Australia shortly, Bell does seem more perky these days.

I don't have Level 2 but someone just posted that market makers want a premium for 1m shares so it does look promising for a move up.

There have been some bulky trades over recent days as well.