Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
It is now obvious that the report delays are deliberate and being used by HEYCO to drag the sp down as far as is possible to enable them to take over UJO and Europa at the lowest possible price. Manipulation or what !! Cannot go on like this surely.
Wouldn't be the first time they had tried. Best to bring these things out into the open and be honest. HEYCO's operational activities and decisions are now indirectly having a massive effect in controlling the sp of at least 2 AIM companies. Making these companies ripe for a cheap buy out and robbing the long term investors of obtaining their true value. Could be seen as Fraudulent in some investor's eyes??
Egdon (HEYCO) as operators of UJO sites could be now held guilty of deliberately delaying, disrupting and downplaying projects (Wressle just one example) and operational activities on their sites, to severely depress the sp of UJO, so they become a very cheap and vulnerable takeover target for HEYCO. Maybe held to be pure indirect market manipulation as UJO have absolutely no control over operations on site, and the associated costs of Egdon, thus the performance of their own company !! Can HEYCO legally get away with this type of indirect market manipulation of sp and buy UJO and possibly EOG at bargain prices?? HEYCO are in a win win position with being in control of the operations at UJO partnered sites. HEYCO logic!!
Thanks for the brief realistic assessment of the meeting today. Definitely delusional Directors, without doubt, not one innovative idea for Europa going forward at all. Just sitting there taking the fantastic salaries and hoping something will come along to save the day. What a bunch of wasters!!
What's left of the Directors after today's meeting should thank the shareholders for pointing the company in the right direction and provide calculations to demonstrate how much money will be saved by Europa in removing these ineffective and expensive Directors from the company instead of praising them on their useless performance. All Director's pay must, must be linked to the sp without doubt . This needs to be a resolution that is placed before the board for voting on by shareholders. The way the Directors are stripping money from the company is absolutely atrocious and unbelievable for what they have done in the business to date. Pure charlatans the lot of them. Sooner we get bought out the better.
What's left of the Directors after today's meeting should thank the shareholders for pointing the company in the right direction and provide calculations to demonstrate how much money will be saved by Europa in removing these ineffective and expensive Directors from the company instead of praising them on their useless performance. All Director's pay must, must be linked to the sp without doubt . This needs to be a resolution that is placed before the board for voting on by shareholders. The way the Directors are stripping money from the company is absolutely atrocious and unbelievable for what they have done in the business to date. Pure charlatans the lot of them. Sooner we get bought out the better.
Oil tankers rolling again in and out of Wressle site, I understand, so surely cannot be far away from a very positive report being issued sometime this week, from the very thorough Edgon operational team . Rumour has it, I am led to believe ?? Fingers crossed all long term suffering shareholders!!
The poor shareholders only saviour now is Wressle producing in excess of 800bpd of oil for at least another year with little water cut and Europa and i3 selling the Serenity field to one of the big oil boys in the North Sea. We can only hope the board sees sense, for a change, and uses the cash it has wisely and backs certainties with instant returns instead of chasing expensive rainbows like they have in the past. Some Directors will need to go for certain as they are an expensive waste of money.