Member Info for John2015

Come on AEX we're all getting older, sadder and poorer everyday.
Do you want the gas or not ?

I have 1000 in an ISA and 1000 in a stocks and shares account both with HL which I believe entitles me to 2 votes.
I will be asking HL to register a no vote on my behalf for both accounts.

Max already a member but the point is a good one, the more people join the better.

I got the same reply to my email to SXX yesterday, re Chris Fraser etc, which got me a warning on here.
How do you call these people to account ?

The last few posts illustrate exactly why private investors need their questions answered.
Is the strategic review dead ? We don't know.
Are there any other offers ? We didn't think so but then it turned out we hadn't been told there were at least two approaches. Are there any others ?
Will the AAL offer be put to a vote after Feb 5th, if so when ? We don't know.
When will we find out ?
Why is it taking so long for any information to be given to us ? Is it to allow AAL time to acquire enough shares to influence a vote ? We don't know.
How many shares are held by Private Investors . We don't know.
What are Polygon up to, why have they acquired over 500m shares ? We don't know.
How can we make a rational decision with no information ? We don't know.
Is this fair and reasonable ? What do you think ?

Bid unchanged ? Looks reasonable. NOT.

Maybe they should have just lent us a few bob or bought a part of the company ?
We might have been able to help them out.
Tongue firmly in cheek.

Has been taken down. Seemed reasonable enough to me just asking for an explanation and I thought carefully worded not to be “too direct”, apparently I was wrong.
I also got a warning from LSE, for the first time ever, in several years of posting.
It seems losing £48k doesn't justify asking for an explanation !
Draw your own conclusions. GLA LTH

See Cliff Weights 09:59 for details of Share Soc action and link to their letter avaialble for all members of Share Soc to read.
It is a very good letter. If you haven't joined please do so if you want to help try and force SXX to explain their actions.
GLA

There is much to say about SXX funding etc in 2016 2018 and since then but by far the most damning for me is the point made about the offer from a consortium being wilfully held back and the “offer” ( more like daylight robbery ) rushed through from AAL while the consortium were still trying to propose a deal, completely unknown to shareholders. We can debate the rifght and wrongs if the finance fiasco's but nothing shows more clearly what the boards intention were and are, than their actions in December and January. These alone must be worthy of investigation and a delay in any deal being finalised. The offer from the consortium must be made public and we are entitled as shareholders (owners) to make a choice between the two IMO.
Join Share Soc and help push for this to happen - we must do all we can to prevent SXX being handed over on the cheap without a fight. GLA

Quite right Fred.
The biggest issue for me is the ongoing strategic review and the offer first made in December and repeated/enhanced? on Jan 9th which was never reported or put to the shareholders.
How can the board recommend a deal with AAL and seemingly make decisions on or ignore the review without consulting the owners ( us the shareholders ) ? There is no way selling all our shares to AAL is the best or by SXX' board own admission the only solution.
Having even a fraction of SXX as a result of dilution due to an equity raise or a real partnership with a an investor is obviously far preferable to having the shares bought of us, whether we like it or not, and being left with nothing but very large losses. GLA Join Share Soc !

Both very interesting reads - no actual timelines or set milestones but suggests thing are progressing at least.
AEX why don't YOU tell us this stuff - do you know what Public Relations is and how to do that stuff ?
Presumably as we enter the rainy season not much will happen on the ground for a few months - which is a great opportunity to agree a programme of talks, set out a list of " smart" ( stretching measurable and realistic ) milestones,and publish them.
You guys have heard of this planning malarkey haven't you ?
Why not just get on and do it at long, long, last ?

GL A sword of Damocles ?

The 2020 Work Programmes and Budgets for all licences in Tanzania have been submitted to the government for approval which includes a gross contingent ca $40 million programme for the drilling of Chikumbi-1 and the acquisition of extensive 3D and 2D seismic surveys over the Mtwara licence, the costs for which Aminex is fully carried;

· ARA Petroleum Tanzania Limited ("APT") has agreed to fast-track select Chikumbi-1 pre-drilling activities and has appointed a management team to oversee Tanzanian operations. APT also intends, in the very near term, to open an operations office in Dar es Salaam;

· The Company will shortly commence receiving advance payments of up to $3 million against the cash consideration due on completion of the Ruvuma Farm-Out;

· The Company has applied for a 3-year extension of the Nyuni Area PSA with a revised work programme.

So what is happening with Chikumbi 1, 3D & 2D surveys, Advance payments of $3m against completion of the farmout and the 3 year extension of Ryuni ?

Is it no progress on any of these ( all much delayed ) components of the project.
Nothing happening on anything anywhere ?
How about an update on why nothing is happening, or on which things might happen and when, or if anything will happen ever ?
This piece of string is long enough to get a 1000 Theseus like greek heroes out of a 1000 labyrinths. For goodness sake say or do something ! Procrastination is in danger if being redefined as a Tanzanian National Sport.

I see it as a declaration that a new company AAL uk will own SXX to keep the project a wholly owned subsidiary of AAL, but separate enough to stand or fail without impacting the main business, like a limited company ?
In which case maybe AAL uk would be worth buying, if they list ?

Anybody git any thoughts ?
FWIW I think AAL themselves are hoovering up shares at any price 5.50 or below, why wouldn't they ?

Shoelord can you provide a link to the document ?
I cannot find any detail anywhere.

Max Doom Share Soc tell me around 200 !

Hopefully the Share Society will at least be able to make sure the full facts are made public and raise awareness of the real issues, outcomes and impact on the loyal, discarded and disregarded long term shareholders. There are no words to convey here what I think of Chris Fraser, the SXX bod, JOM and multiple others who will make a fortune at our expense.

Francesca you should hang your head in shame your biased and lightweight article was one of the nails in the coffin. Thousands of us have lost huge amounts partly as a result of your thoughtless trashing of the project. You know what you can do with your request.

Bellers have you git a link fir that document ? Am I missing something ?
FWIW I think the offer should be publicised and considered alongside the AAL “offer” ( I can feel the cold steel of the revolver pressed against my temple) !