Member Info for johnpwh

Apart from that all good!

sham
I think that at current PoO the consideration is all about preservation of capital. Not a lot of point in drilling expensive new wells (with no guarantee of 100% success) on tight margins unless there is a regulatory requirement to do so.

Hi JAdam
No I don't. i think Trice was a fantasist who believed too much in his pet project - in the same way that the new BOD seem to negatively spin everything (can't quote exactly but there were a couple of occasions in yesterdays 2 updates when i heard something along the lines of 'normally this would be a positive sign but its hard to apply to a FB so we are dismissing it' ). The result is the same, but Madoff knew he was deliberately ripping off his clients, that's all I meant.

Albie
I am sorry to see you write that, and its pretty much impossible not to sound patronising which is the last thing I want. But onwards and upwards, because there is nothing anyone can do to change what has happened
John

Should have been a warning sign that Spirit was the partner when it was/is largely owned by of all people Centrica!
Trice appears to have been a genuine man who too desperately wanted his dream to happen. He was no Bernie Madoff, as ADUK said, he just became blinkered and there was no one to challenge him both from a public quoted company regulatory perspective and as a FB geological specialist.
Don't let it ruin your life.

AB****ELY NOT!
I particularly dont like someone answering 'thats a good question'.

Fred
Indeed. That is what we all want to know, but with the proviso that this new BOD may also be wrong. Having listened to this mornings presentation, with an obviously biased view/hope on my part, I find them far less convincing than Trice. My concern is the almost unseemly haste in which they re analysed existing and new data and seemed to put a diametrically different appraisal on it. They had condemned Trice's findings, and indicated a bloodbath was coming, way before today -only 2 or 3 months after 27th Aprils CMD. Of course I accept that Trice may be properly barking. but have we sufficient confidence that the current crew are correct in their opinion?

Thats why I qualified it Captain. Sorry, was just trying to help.
One thing that made me think was the statement that 1 million gallons of water was too much to be perched water. That seemed quite a weak bit of reasoning so looked up the number of gallons in an Olympic sized swimming pool. Turns out to be 2/3rds of a million gallons. Put like that it doesn't sound very convincing.

Hi Captain. Questions this afternoon? I don't know if you mean todays presentation, if so it has already taken place and will be available shortly on the company website under investors/ presentations

There is nothing to say about this collapse in fortunes.
I'd like to hear what Trice has to say for himself. Its less than 6 months since a CMD presentation that gave no indication of any problems. In comes a new broom and (15? ) years of work are suddenly irrelevant and was all wrong?

Just checking. Did this lot by a parcel delivery company a few years back for £100m. then sell it in 2020 for £15m just before the lockdown changed retail for good meaning good future prospects for......parcel delivery companies?

You have absolutely no reason to state that. No evidence. No logic. No thought. Just numbers plucked out of the sky.
Ramping is as pointless as deramping

Have to admit it is of a concern that the leading directors here appear seemingly reluctant, that CEO and Chairmans hats are occupied by the same man an that many of the others are non-execs. This isn't a small company with 119 EH and 59 Strathstones around the country. I don't know what to think at the moment.

Hi Bampster
Do Ganfeng have previous form in eventually taking over their joint ventures ? (ok, I dont think it is strictly speaking a JV but you know what I mean)

Yes 3300, they aren't good in the snow. A few years ago I came back from a Red Sea diving trip in January (and don't think the Red Sea is always as warm as bathwater, its not). Leaving Gatwick we came up the M40 in a freak blizzard, all the traffic stopped in front - not due to the cops but half the cars were stuck. I was in a tiny Panda Diesel, and we kept weaving past people in Mercs & BMs, left and right, just waiting for the moment when we got stuck. Never did. We just kept going, black motorway stretching ahead and a total sea of stationary lights in the rear view mirror. We chuckled all the way home.

Now searching for a second hat to take off to you!
Minis and fast Fords in particular seem to be the in vogue classics at the moment. I am no greater lover of the latter, never saw the attractions of RS2000s and Mexicos when they were new really, let alone now.
I regret selling Alfa GTVs (Bertones, 2 of!), Lancia Zagato, early Caterham, a Morgan or 2, even my 1936 Rolls Royce. Trouble with old cars is a) the space they take up b) the maintenance and parts costs. As I think I said earlier I have a 1938 Morris which I am working to get back on the road, as I neglected it so long I feel morally obliged to. But its hardly worth it. Forgetting historic costs it may be worth £8k when its done and my budget (which is holding so far) is £3k. And months of work and scouring the internet for parts (even if you can get them. A wheel cylinder for a mini less than 10 quid. For a 1938 Morris £80 - 100). Bit off topic but it is the weekend.

Any idea what the break even copper price is here now? Last time I heard it was $2.47 a share but that was a long time back when I invested quite heavily here (George someone was CEO followed by a bloke called Norman!)

Richard,
If I had a hat I would take it off to you. Cooper S with period Speedwell accessories - if you haven't still got it I bet you wish you did ! Bit better as an investment than AML shares! In about 1978 I went to an Auction at the Victoria Carriage Company while a student in London. I remember a 1976 yellow Lancia Stratos with 9600km on the clock which sold for about £7k. Now that would have been an investment!

Hi Richard, sorry think I mislead. I totally respect the 911, and own a Cayman myself. The choice of the Cayman wasn't a rejection of the 911, I just always like the wide hips pf early Caymans!
I would like an earlier, post DB7 Aston. But despite being a life long petrol head I couldn't tell you which was which. All I know is that I would prefer an 'analogue' car. I searched for ages before I found a basic Cayman without outdated Satnav or other electronic gizmos & driver aids. All she has are rear parking sensors. Its a bit like laptops, would you buy one more than 5 years old? Classic cars are essentially a thing of the past, none have been made really in the last 15 years except supercars because the electronics will be unmaintainable long term - look at the dashboasd of a late 1970s Lagonda - its just a joke, yet who would laugh at an XK120 or 246 Dino?

I think Aston lost its way under Palmer and glad he went. The new management have the wealth and experience to hopefully put Aston on a firm footing. We may see further dilution though I think. Trouble I found with Aston is that although I loved the look of post DB7 cars they started to be a bit like 911s - the new one looked like the previous one which looked like the previous one. Then when they did make a significant change recently (the Vantage) the replaced the one thing they should have kept (the classy signature grill) with the most pig ugly thing I have seen (apart from the latest ludicrous BMW 'kidneys'). I don't object to the Valkyrie as a halo car, and a demonstration that they can 'do it' if they need to, but I think they should be the high quality, high price gentlemen's carriage rather than try and compete in the supercar market (where people buy high spec cars to wheel into heated garages and leave forever). Maybe the experience with Valkyrie will give Aston their own exciting home grown hybrid power unit rather than resorting to 'bought in' major components - like the DBs and V8s were before Ford/ Jag/ MB components became the norm.