I totally agree and if I had not been abroad I would have made my views clear at tonight’s presentation- just watched the presentation - how can last year be judged a success when the share price is a third of what it was a year ago - they are representing us shareholders - no mention of that
I agree it was worth taking a risk but not one that would dilute the shareholder base in the way that serenity did, was totally out of proportion to the size of Eog but not their money - no other oil company joined I3e just our band of merry brothers
I would love to see a share buy back - a small one - just some acknowledgement that the sp matters
Still the makings of a successful company here - hope they prove us wrong
That is something at least - maybe someone ought to send him the SP on the day of the presentation so he knows what it is this time if asked - should not be hard to remember if that is where your focus is
yes echo that - perfectly put Stas
For me a small buy back would signal a change of approach - sp is undervalued no doubt in part due to lack of belief in our leadership team - trim team, salaries and buy back until things improve - better chance of catching the easter bunny this year then that happening but at least I voted this year which I hope more and more of us will going forward
How lovely to hear from you Digger - we sure go back a long way
No, I was pi''ed off by the move to the US so sold out so lost a pretty massive sum here. I am however really pleased you hung on as I think Rhodi did too. Well done for trust and faith in the drug and I am very pleased you got your money back
All the very best to you Digger and Rhodi if you read this
Long horrible year for us despite how board tried to position it. I hope experience teaches them to approach future projects more judiciously, to re fear their salaries and pay roll to a tiny cap company and use some of the serenity returned money to buy shares that are now incredibly at the same bombed out price they were prior to Wressle
Merry Xmas to you all - you still feel we have a chance - god knows I need this to work!
Let's hope! Did receive a response this am saying the company would bear in mind my points as set out below going forward.
Well, let's hope there is a pleasant surprise around the corner - the only one I can think of would be Ireland but 3rd qtr next year and how many years have we lived in hope both re morocco and ireland with in the shadows discussions about to bear fruit - pretty barren tree. We were assured of months of positive RNS's - they have all been bad news especially the dilution RNS which took the floor out from under the company. Time to use Wressle for the good of shareholders whilst it is making money
Thanks for trying, kind of missed the point of your e-Mail
I also wrote having a large holding begging him to reduce the payroll until such time as it can be justified, to buy back some of our cheap shares and to not gamble with OUR money - that is no more dilution
No response yet
First time I have voted against a board as it seems a destructive thing to do but felt no choice this time.Proud of all SHs who took the time to vote and make their views clear. If we had been more conservative with our approach Instead of taking on a Vegas like speculative well we all would have benefited from wressle - first step the company has ever taken that resulted in a tangible gain and when oil prices were rocketing.
Will the board pay heed? Cut the payroll, but back cheap shares and take next step when we do not need to dilute
Yes totally agree with you - my fear is that another potentially dilutive deal is being worked up. Buy back shred at this ludicrous price which their failed gamble has caused and step forward much more cautiously, save for encouraging wressle development and Irish farm out and bloody buy back some shares - also cull the number of those non essentials on the pay roll
Yesterday’s vote should have given SO a clear message. Totally agree - he should cut his salary which is bleeding money from the company and take more incentive options - all on the board should. Whether unlucky with serenity is irrelevant - a diluted punt with our money which failed. Does no one ever take responsibility any more and set an example.
yes totally agree - this is one of highest levels of shareholder dissent that I have seen especially when you think many PIs won't have voted.
Still the basis of what could easily be a highly successful company but it needs grown up leadership
I cannot attend today due to a work commitment but had intended too - I truly hope there is someone who will put some of the below points at the meeting. Next time SO ventures out to a public forum I intend to go. I agree total BS - far better to be honest - cut the pay roll, buy some shares in the market and speculate without dilution.
yes depressing - the key point is that speculating on opportunities was fine and even necessary but not at the huge dilutive cost we sustained as shareholders. At the meeting I attended SO was visibly excited to be drilling this year but did not know the SP when asked - says it all. Should have waited until they could afford to take a risk not dilute us just as we were being rewarded for our patience driven by high oil prices which are now retreating. I guess they need to have something to do to justify the number of employees given wressle is managed by others. I would have been cheered if they had bought back some of our incredibly cheap shares. Ireland is the big play but will we find a partner in the next 12 months?
In the same corner - why on earth did we dilute at 1.8p - surely should have let the money roll in and then look for something to invest in - we have thrown away the last few years of high prices on a high risk gamble - I have a large holding and voted SO out. It needs new leadership and far fewer employees until it starts to grow again - would love them to buy some of those 1.8p diluted shares back at 1.2p
Does anyone have any insight into the numerous buy/sells at less then a tenner. Surely can't be 'investments' - at best like putting a fiver on a greyhound at Ladbrokes
Will be interesting to see votes cast at the upcoming AGM - less then a week away
yes I have not been able to find any reference to taxing turn-over which would be patently ridiculous and bizarre
The SP is now considerably below the grimly priced and heavily dilutive serenity fund raise. Given our directors are not buying shares we should be using the £2m we are getting back to buy back some of shares