Member Info for Helpful

Listen expert, I am so tempted to go to town on you. I just typed a very long message with very embarrassing information in it but on second thoughts deleted it.

Remember, I have all the emails and other correspondence between us.

Why not just hold your hand up and say that you didn't do the job that you hold yourself out as doing and that you just repackaged what the company told you: as you do elsewhere. Maybe a bit more effort is required, hey?

You forget I have seen up close how professional and competent you are.

How is going with Pathfinder? Rumour is that they are getting a bit fed up with your fun and games.

If I thought your judgement on anything was worth something, I would have mentioned it to you by now.

I cut and pasted it from the RNS. Again:

"Forest Hill Field, Wood County, Texas
As announced on 20 September 2018, Forest Hill is currently shut-in. The prior operator of the leases filed a complaint with the Texas Railroad Commission based on a claim of ownership of well bores and other equipment on the property that is creating potential lease and right of way issues. The matter is scheduled for a hearing with a magistrate in Wood Country in Q4 2018 and the Company is in discussions regarding settlement of the matter. Following a favourable resolution, the wells will be turned back on and production will resume shortly thereafter."

This time the whole para, taken from the London Stock Exchange website.

From the last operations update.

"The matter is scheduled for a hearing with a magistrate in Wood Country in Q4 2018 and the Company is in discussions regarding settlement of the matter. Following a favourable resolution, the wells will be turned back on and production will resume shortly thereafter."

It is always worth reading these things a few times.

DYOR

https://simply-docs.co.uk/Shareholder_Letters_and_Forms/Shareholder_Letter_Appointing_Corporate_Representative_At_General_Meeting

So people are clear.

1. If your shares are held personally you can fill in a proxy vote but it has to be with the company by the cut off date.
2. Personally, means not in a nominee account or in an ISA or in a pension.
3. In a nominee account such as IG.com etc you have to issue an instruction to the nominee to complete the proxy vote. IG.com need seven working dates to deal with it.
4. Failing the above you need a letter of corporate represenation. Again, typically the custodians want seven working days to deal with it. You would need to ask the nominee account provider to request a letter of corporate representation from the custodian.
5. In an ISA or Pension the provider has to make the request for a proxy or request the letter of corporate representation.
6. A letter of corporate representation is personal to the a particular person and they have full power to vote as they see fit. They cannot be directed to vote in a particular way and if they don't turn up, no one can vote in their stead.

DYOR
I would expect a market professional would be aware of the above but hey ho!

100% agree.

The thing that matters now is getting that production online and sold. Anything else is secondary.

I wasn't invited into Deloro, I was asked to invest. I get asked to invest in all sorts of companies all the time. Some of the companies I am asked to invest into would really surprise you.

I have the complete shareholder/unit holder list. You might ask around about who else holds.

Ask yourself whether Align and other parties's behaviour has helped the company, the share price and investors. What matters is getting the production online asap and everything else is secondary.

Well I am party to information that clearly makes me inside. This may help you undersand how the MAR and insider system works.

https://uk.practicallaw.thomsonreuters.com/2-629-0375?transitionType=Default&contextData=(sc.Default)&firstPage=true&comp=pluk&bhcp=1

https://www.williamfry.com/newsandinsights/news-article/2016/06/08/what-constitutes-inside-information-under-the-new-market-abuse-regulation

So are you denying that Align and you remain inside?

It is also true I am inside because of my Deloro holding but I was also inside because of the EG situation. I may also have other knowledge that is inside. The way it works is that the company is supposed to formally notify the insiders when they are "cleansed" ie., no longer in possession of inside knowledge. By inside knowledge what is meant is price sensitive knowledge. The company has not issued "cleansing" notices to insiders and so we remain bound and that includes Align Research.

Ok I will play.

What was the lie and why does Mayan have no chance of getting to 80bopd this year?

I have not met Paulo but I have spoken to several who have and they are all impressed by him.

The reason that I am insider is that I am a significant shareholder. I put money into the last placing and still hold the shares. So you reckon that everyone who is an insider is part of the problem? That only indicates to me that you really don't understand that on which you opine. Align Research and its close parties are insiders; are they part of the problem too?

What matters is getting that production going properly and it has been what has mattered for the last 12 months. If the former CEO had delivered on what he promised to me and others face to face this time last year, everyone would have been in different place. He also reiterated the promise several times and said he would deliver.

Look at what Paul Vonk said yesterday about how to value oil & gas companies: if we had had the delivery we were promised we would be at several multiples of the current share price. Now you may think that I am part of the problem but (so you understand); I didn't pick the assets, I didn't convey the assets, I didn't appraise the workovers, I didnt execute the workovers, I was never the operator, I didn't pick the operator etc. So how am I part of the problem except that I have shares and you probably don't.

Anyway I am going to put you on filter because I am bored with the drivel you come out with.

DYOR

I am sorry but I disagree with the comments about the need for a new board. The immediate and pressing issue is get as much production online asap. Once the company is producing 150/300 bopd and it has good cashflow the issue of the board going forward can be addressed. What the company does need is an experienced US-based oil & gas NED who can help the company source and analyse new wells and deals.

There are lots of deals of the type of Stockdale and the Austin Chalk wells to be picked up in due course.

I said a while back that a bunch of wells like the Morris 1 would be great and my view remains the same. If the issue about the title on the Stockdale wells we passed on are resolved maybe we can go back to them in due course.

Further changing the board now would simply delay production. The first thing a new board would want to do would be to review all the assets and the AFEs. They would be paralysed for a month or more in the meantime there would be no progress on the production. The consequence of that would be that the company would likely need a cash call.

No one who is a serious shareholder in this company should want anything to happen that delays the production wind up.

DYOR

The issue on access rights now only applies to the FH wells.

AJW

if you reread the RNS you will see that it states that they will run the two vertical wells for 30 days before deciding what action to take. I don't know but the reason for this might be that any money spent on acidising the horizontals will get a better result than the same procedure on the verticals and therefore there is no rush.

One of the things under consideration might be side tracking the verticals. Before committing it would be sensible to see what the verticals produce without any action and what the horizontals produce after acidising/perforating the Anacacho.

If they get a wonderful result on the horizontals then maybe the company should commit the monies to do sidetracks.

This will be about cashflow management and not committing funds to works that don't get a sufficient bang for the buck.

If the company's breakeven is really between 60 and 80 bopd and they are getting a good result on the verticals without any action they might let them produce until Zink Ranch is worked over, online and producing.

The decision will then be where should they spend money: will they get a better result on the Austin Chalks or at ZR? We won't know until maybe early November on that issue at which point maybe they will have the FH wells back fully under their control.

DYOR

Indeed. Some accounts would appear to be set up for the purpose of causing trouble.

The AGM is reconvened next week. Things will be clearer then.