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Except that it is the exact same number of shares 40,215,002!
RNS not END
Those 40.2m shares traded before the announcement appear to be the one 's disclosed in the END from the 14th May belonging to R. O’Riordan and S. O’Driscoll.
There can't have been too much for the old BOD to handover following their departure. Shareholders deserve an update soon and shouldn't have to wait until next year to find out what the plan is!
Not sure how bidders could be mulling over it, how could they have access to it without the company disclosing it first? Hopefully they will publish it this week . . . not sure why it has been delayed perhaps the results were not as good as expected but hopefully not.
Reserve update was due end of Q3 so about 2 weeks overdue . . . hopefully will be published soon and will be good news!
Hopefully TA will let us know soon enough what the plan is, whether it be Dunraven, Karelian, Conroy or something else . . . should not have to wait too long as should have been in place already and hopefully we'll see some SP appreciation!
Pity it hasn't gone up more, though I expect that it will once TA announces what his plans are whether Dunraven or not. Does anyone have a view on the shape that an RTO would be if Dunraven . . . would we get 50% of the new equity ???
Correction sorry I read that too quickly, Brown also resigned. So all 3 directors are now Anderson's men.
Following the results of the meeting and particularly Mr. Livesey having not been re-elected to the Board, the executive management team of the Company, being Mr. Jonathan Henry (Executive Chair), Mr. Paul Carroll (CFO and Company Secretary) and Mr. Fraser Gardiner (COO) (the "Executives") resigned from their positions. Mr. Brown, the remaining independent director, has also decided to resign from the Board of the Company with immediate effect. Mr. Henry will step down from his Board position and Mr. Carroll will step down from his position as Company Secretary with immediate effect. The Board would like to thank these individuals for their service to the Company.
All the other directors have also resigned bar one, essentially putting TA team in control.
All resolutions were passed apart from no.2 re-election of Livesey. Results are posted now on ADVFN.
Can anyone explain how the H1 production for the 2 licences was 1,967 but the Q2 figure was 2,091. Did we produce nothing / burn 124 barrels in Q1?
Yes disappointing really but future looks much better with improving oil price, upgrade to reserves and better margins (export). Hopefully when the reserves/review comes out in Q4 we'll see an increase in the SP.
I emailed my broker this morning to vote in the same way as you below + I voted against Tim Livesey re-election. I just hope my broker actions my request in time and that it might make a difference but who knows. I figured voting against Resolution 2 was best as that would tilt the board in favor of Tom Anderson if his other directors are elected.
TA likely route is to put Dunraven into ORM as a few people have suggested. Hopefully that will at least deliver some value to shareholders but who knows.
50/50 but. . . in my opinion the old BOD had their chances and couldn't deliver anything, truly disappointing performance and the fact that they even contemplated winding up the company just says it all.
It's time for new blood and a new direction. Whether TA will deliver a return for existing shareholders or not remains to be seen but he can't do a worse job than what has already been done really.
"Tell Me, Mr. Anderson...What Good Is A Phone Call If You're Unable To Speak?"
YAWN . . .
The facts are that investors have already made serious money if they invested in PVR in or around 1+p. When they eventually go to drill/appraise the SP will jump as that is what happens with E&P penny stocks. There is huge potential here for the share priceto take off . At the end of the day this share is a very risky bet but investors know that already. Good luck to all long term and new investors !
It is a good time to avg down if you are happy to do so. I can't see any movement upwards until we have some news or know what the actual plan is! I would only invest what I'd be prepared to lose / offset against gains I've made elsewhere as Ormonde simply have not delivered and made a complete mess of the tungsten project. Tom Anderson needs to let us know what his plan is for Ormonde and then we might see some movement. The silence is deafening at the moment GLA.