Member Info for JamesOxford

@Bob Why so serious?! Cheer up. It was a bit of fun...AimMaster and me go way back.

@Banburyboy My only point is that to sell Zephyr now would be quite mad. I agree that 15-20p would be nice, but that is unlikely at the moment. Hence, no need to sell at all. My comment to Papaduke was to simply wait as CH has clearly lined his ducks/geese in a row, and is waiting on the investor's 'green light' to start production. With the tests prositive, and the oil prices on the increase now due to events in the middle east, I expect production to commence very soon (i.e. within 3-4 months), as the stars are clearly starting to align. IMO

AimMaster, AimMaster wherefore art thou AimMaster?

Well, well...AimMaster is now back on this Wood discussion board, and dressed up as 'PeanutInvestor'....'Peanutbrain' more like it! Lol

@PeanutInvestor 'He's back with a re-post, either his own or someone else's. Investors should already be well aware of this, but some here can't help but feed their fears. You should have sold your stock.'

Is it just me or does PeanutInvestor (who has all of 2 posts) sound exactly like AimMaster! Busted! Lol

@PeanutInvestor 'It seems like some people here are intentionally adopting a worst case scenario mindset and projecting it, so if things go better than expected it's a bonus and that's fair enough but if you truly believed it was that bad, why didn’t you sell before the suspension? You set yourself up for the stress and worry after suspension and can't own it is what I'm thinking.'

Is it just me or does PeanutInvestor (who has all of 2 posts) sound exactly like AimMaster! Busted! Lol

7 days until 5pm Monday 30 June - Sidara's D-day...

Will Sidara:

A) Choose to extend and stay at the table?

B) Choose to leave the table, due to serious war tensions in the middle east (that was Sidara's last excuse to leave and events in the middle east are far worse now than then)?

C) Choose to make a formal offer on or before 5pm 30 June (as predicted by Sky news)?

Interesting times indeed.

Personally, I think Sidara will choose to extend and stay at the table for another 21-30 days. Why? The ball is still firmly in Wood's court to try to comply with Sidara's conditions before Sidara is prepared to make a formal offer. There has been no indication that Wood are close to that position (i.e. compliance with Sidara's conditions) as yet.

@papduke To sell Zephyr now to the highest bidder, would be like selling the Goose that lays the golden eggs, BEFORE that Goose has laid as much as one golden egg! Give it a little time.

With the latest news out of the middle east, production at Zephyr is bound to start very, very soon. Zephyr is based in the US...remember what Trump said over and over...the Trump mantra: "Drill baby drill!"

Zephyr is a potential gold mine of that I have no doubt whatsoever! Be patient, and let the goose lay its first golden egg, then more golden eggs will follow.

@Icecool' @JO you treat worst case scenarios like they’re confirmed facts, when there’s zero evidence to support them. It’s pure doom projection dressed up as insight.'

Er, this is plenty of 'evidence' that the accounts when published will be bad. Deloitee's have already said as much. Wood is for sale that much is clear. If not, why does the Wood BOD simply tell Sidara to take a running jump with their 35p per share and $450M for Wood informal offer with conditions?! Why does the Wood BOD not renew Sidara's extention to stay at the atble beyond 30 June?! The answer is simple and is there for all to see, Wood needs Sidara's offer and in particular the cash injection for Wood in order to strengthen the balance sheet and liquidity, which in turn enables Wood's lender to renew debt facilities under reasonable commercial terms. Time will tell, but I am pretty certain I am right.

As for your AI search on JO posts on this Wood discussion board...you are becoming rather obsessed with AI old chap...and JO. Lol

Anyway, let's not clog up this Wood discussion board with back and forth talk on the same old subjects. You have your opinion and I have mine. Time will tell who is right.

Goodnight

@Metatron Your post is somewhat muddled in your rather deperate attempt to be funny. What narrative are you refering to and what red pill?

My 'narrative' of the situation is straigh forward: Wood is in serious trouble fighting fires, and is clearly for sale. Sidara is its knight in shining armour who is yet to make a formal offer. This is the reality and is the 'red pill'.

I do not agree with Icecool that the answer is to sack the Wood BOD and the Wood share price will automatically rise to £2 per share. I think same BOD or a new BOD will encounter the same issues, and Wood's lenders have been blindsided and are not happy.

@Bigsmoke I read the article and it looked like the Chairman purposely distanced himself. It was an odd remark i.e. 'your company'. Probably most who read the article thought the same way. Not sure if he has referred to Wood that way to shareholders before. Either way, it is odd. Storm in a teacup of course!

War in middle east could push oil price to $100 per barrel. Article below.

Zephyr and it's investor will be well aware of the situation. Production may start very soon.

https://www.thisismoney.co.uk/money/markets/article-14829655/War-Middle-East-push-oil-price-100-Experts-sound-alarm-Israel-Iran-trade-blows.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html

@Icecool Of course, I would like to see the accounts. That said, I like to read between the lines, and I am concerned (on several fronts) that the Wood BOD know that the revised accounts will be bad, very bad. That alone coud mean Sidara offers 20-25p and the banks may say they will not re-finance due to the mis-represenations made on previous accounts vs current accounts. Of course, all this is worse-case scenario, but I prefer to look at the worse case scenario with all my investments.

I have said that bank do not like surprises, let alone what amounts to fraudulent accounts, and those same lenders rely on said accounts to lend. This is a serious situation and not one that can be easily swept under the carpet. Lenders will not willingly accept an excuse such as 'Gee shucks, we knowingly over-stated the accounts, so I suppose we will have to adjust and resubmit the accounts for the last 3 years'. It doesn't wash. It is obvious the lenders do not trust Wood.

We may have our disgreements, but we both want the same result, profit on our investments - Wood included.

I am concious that I do not want to take over this discussion board with a game of tennis like you do with Kandos and PokerChips..both of whom I generally agree with also. So I do not wish to re-hash our same-old argument. Lets'a gree to disagree and drop it.

Instead, lets' see what happens in the next installment on 30 June. To quote the 1960s Batman TV series, which always ended on a cliff-hanger...'Same Bat-time, same Bat-channel!'

I very recently bought into an AIMO stock called: Pri0r1ty Intelligence Group PLC for .0235p - it is of course very cheap, so took a decent punt as it could be a potential growth stock. Risen from circa .0238p to close today at .0762p in only 2 weeks. I only mention this as an example of what could happen with Zephyr over a short 14 days time frame. To me, it is a case of when (not if) the Zephyr share price rockets and experiences a similar rise when the pathway to production is clear. GLA

@Icecool I am happy to take 35p as that will provide me with a decent enough profit. Equally, if Wood can clearly demonstrate it can go it alone and that it has full support of its lenders then that's fine too, as it that is the case I expect that Wood share price will recover to 40-45p in quick time at which point I will happily sell as I do not wish to be a Wood long term investor - far too many red flags for me. Lol

But let's be realistic Icecool, the Wood share price is 18p for a reason (not £2 as you dream it should be). I still think you are seriously underwater here, which is why your ears are closed to any scenario other than your scenario which is to sack the Wood BOD (you had your chance at the AGM and even whith a lowly 38% turnout, you could only muster 13% of votes against) and Wood will recover and climb to £2, at which point you can sell and break even.

@Icecool Cheer up old chap, you are sounding rather desperate of late. It will all work out in the end.

@Bob Thanks for the interal memo...there may be life in the old dog yet! Make no mistake I am a serious investor in Wood and either want a top price for a sale, or for Wood to go it alone successfully. That said, I am realistic and the Wood BOD is down and out with their 15 minute AGM. Even you said the Wood BOD 'treat shareholders with contempt' (BTW I agree fully). The Wood picture and path forward is obviously is far from rosey. My hunch is that the accounts will not be pretty when finally published. I suspect serious overstatements in key areas such as revenues and profits, which need to be restated. When/if that happens all bets are off.

@Froggle I would say when the Chairman mentioned 'your' company, it was a deliberate act to 'distance' himself from Wood. It is not often you hear Chairman or CEO's talk publically about their company ias 'your' company even when addressing shareholders. Usually it is 'the' company or 'our' company.

@Dazpink @Banburyboy I have been involved with finance for companies whereby revenues are 'OK', however, we still will not lend due to other factors such as over-extended credit, fair/weak balance sheet, cash-flow issues etc. My concern is with Wood's contracts that lately the RNS have not shown contract values...it feels more like PR than material contract wins worthy of RNS'. That may mean the substantial contract wins are becoming fewer and far between, so are substituted with for a lack of better word 'waffle'. I hope I am incorrect. My concern is that perhaps potential clients may keep their hands in their pockets in terms of signing contracts until such time as Wood's future becomes clear and assured. At the moment, Wood is clearly in limbo without a clear path forward. Maybe 30 June will be one step closer to assurity, or maybe not.

Just read the article AimMaster (non-investor of Wood) posted!

The article was pretty down in the dumps - probably as the Wood BOD know to some extent the level of writedowns expected in terms of revenues and balance sheet...and as a results are very down in the dumps...especially with reference to 'your' company! It doesn't look like the writedowns will be pretty!

Anyway, key next steps as per article:

'Mr Franklin also told those in attendance the timing of the independent review’s findings has impacted the 2024 financial accounts. He said: “The preparation has been delayed but we are working extremely hard to publish at the earliest opportunity. “Once they are, we will call a general meeting where shareholders can discuss the results. Aberdeen-based Wood Group is the subject of a takeover attempt. "Due to the delay, Wood’s shares have been temporarily suspended. “As soon as we publish the accounts, Wood will request the restoration of trading of our shares.”`

So it looks like Wood's accounts to be published, then trading commences immediately. Then GM called to discuss maybe 2-3 weeks notice. I do wonder if Sidara will make a play before the GM is called, or if it waits to 'test the mood' of shareholders at the GM, then makes a formal offer.

A few here talk about the recnet contract wins as though that will save Wood. It will not. Due to Wood's current predicament, it is likley to be losing as many new contracts to competitors, as it is winning them.

I doubt Wood can survive on its own unless it raises serious cash to strengthen its balance sheet and cash/liquidity position. It seems that Wood's lenders do not have an apetite to lend or renew finance when it becomes due. The Wood BOD have looked at all options and received specialist advice, and that the Wood BOD, lenders and institutional investors believe that the best way forward is to sell all of Wood.

The question is will another bidder come to the party or will they step back and decided it is not worth the risk.

Sometimes, as an investor it is better to take the bird in the hand (35p likley, or more at an outside chance) than two in the bush.

Anyway, let's all wait for 30 June, when Sidara says it will extend again (despite current issues in the middle east, which wil pass eventually).