Member Info for JD-Nau

Itsawrap. I agree. The more I look at the CS deal the more disgusting that the deal gets. It certainly does not appear to have been done in the interest of shareholders, and this begs the question: who does it benefit?

It is very interesting how the share buyback program started at the last requisition and was then stopped. Only to be started again as soon as they announced the date for the next requisition. Anyone would think that they only cared about the buyback program when it helped them win a vote to keep them in position. Of course, their own £750k options program went through straight away.

Colle Santo testing approval in the next three weeks or drain the swamp. Vote them out indeed!

TH output data at the moment it looking reasonably good if you ask me. With the share price low it is not the worst time to buy as long as you believe that the company will be able to refinance. And with those production numbers they will be able to. Better times ahead in my opinion.

I don't think shredding documents will help this time. Have you seen the list of questions that the Requisition site has raised on Colle Santo? They need to be answering these not hiding the evidence. Any silence is just an admission of guilt. The only thing that can save them is delivering the production permit in the next three weeks, but from what I have read there is zero chance of this happening.

As you know I have been a big fan of the Colle Santo asset and thought that this could be the game-changer for the company if the 24 month production license was granted this year as RBD promised it would be. However, reading the documentation on the Reabold Requisition website, it is clear that the project is a disaster.

They have been trying to get production from Colle Santo since 2009 and still not managed it in 14 years and all they have ever had is rejections. The Environmental Impact assessment was submitted in June 2016 and rejected in October 2018.

November 2022 Request for 24 month production test rejected and they were told that they need to complete a 2 year environmental assessment before it can be approved.

How can S&S have told us that they would get the production permit by the end of this year then? I was doubtful about Heid’s allegations against the company over the last few weeks but I have to apologise, she was right. The company have been lying to our faces again. They need to go. Anyone will be better than these two.

My main priority is to get the Colle Santo permit sorted by the end of the year though as that can deliver cash instantly in Q1 . If S&S can deliver this then they get my vote. If they do not then they don't.

To this end, I am glad that the meeting date is Jan 10th as it allows me to see if they deliver before I cast my vote.

The ones who are vague about WN are S&S - their line today in the RNS just said: "over the next twelve months we expect to see progress towards the first horizontal well at West Newton". It hardly sounds like this is a priority for them.

Carrot13 - so you are suggestign that Kamran has promised RBD shareholders that he can deliver better returns than the current clowns and this is a bad thing?

Nah, requisition date I reckon.

I thought that it was meant to be today?

Go on moniman, give us a clue...

But this is the point Colle Santo is not meant to be a long way off. S&S have promised us in an RNS that they will get the permission to test by the end of this year. This means that there should be money coming in from Colle Santo by Q1 2024.

If Colle Santo is now a long way off and they have lied to us all again then why did they spend another £1.65 million on it today. Unless that was just to get a bunch more shares issued to parties who will vote with them in the requisition - which is looking more and more likely.

If they do not deliver the Colle Santo permit by the end of the year as promised then they are a pair of lying crooks.

"Kamran is like the rest of us, the only difference is he invested much more and a much higher price, so not only has he wasted his clients money, he will get the same treatment as anyone else, and be grateful for it."

So Kamran should be grateful to be lied to by the two directors like the rest of us? I've got to hand it to him, at least he had the balls to do something about it. And he has given the rest of us another chance to vote who we want in control of the company. He has made his accusations, it is now up to them to prove him wrong. Permit by the end of the year please lads.

If the contents of the letter are true then the board should very much have considered them. If they are true then they have just thrown away another £1,650,000 of shareholders funds on a project that will never happen, potentially just in order to acquire themselves more votes for the requisition.

S&S now need to deliver this 24 month production permit before the end of the year as promised or they are in deep s*** if you ask me. I certainly will not be voting for people how lie to shareholders constantly.

An interesting announcement today. The engagement of the full second option in Colle Santo can be read one of two ways. Firstly it could be seen as a sign of confidence from management in the future of Colle Santo, which is a good thing for all shareholder. But secondly it could be seen as a desperate attempt to issue more shares to vote for S&S in the upcoming requisition. I hope that it is the former and not the latter, but the more cynical part of me thinks that the fact that a big chunk of shares being issued to board allies now is not a coincidence. If this is the case then it does not bode well for the future of the CS project.

However, S&S have promised that the 24-month test approval will be issued by the Abruzzo authorities in the next three weeks. If this happens then they get my vote. If it does not happen then I want them out as they will have directly lied to us all. The clock is ticking.

No finance company would do a deal on what the gas price is today, they would do one at a massively discounted gas price in order to ensure that the loan could be supported in the case of very unfavourable circumstances. Frankly, the gas price today would be pretty irrelevant to any financing, it would eb all about forward predictions heavily discounted.

Well it is good for the company that Shell are going to go through with the Victory investment, but the part payment still leaves us sort on any money to invest in West Newton.

As far as I am concerned, S&S have half-delivered on the first of my requirements to get me to vote for them at the requisition. Now they need to fully deliver on the production test approval for Colle Santo before the end of the year as they have promised. Without that, I am definitely voting to get rid of them.

I doubt that the requisition would be cancelled. If anythign it would make it more vital.

I agree Piscator1. But as ever with Block and their never complain, never explain PR strategy we just have to sit in the dark and wait and hope.

Yes, that is something of a nothing RNS. Posting general information about the Italian energy sector with no specific reference as to how it will affect Colle Santo. I agree with you Uggy, it looks like the first step in preparing to tell us that they are not getting permission by the end of the year as they promised.

I hope I am wrong, but it looks like there will be no Shell money and no Colle Santo approval by the end of 2023. That is going to have a big impact on the company cash position going forwards, and not in a good way.

I fully intend to vote S&S out when the requisition comes. If they deliver on the Shell money and the promised permission on Colle Santo before the end of the year then I may change my mind, but after today's announcement it is looking unlikely.