Member Info for LaticsRule

Are you referring to end of HBR exit or Navitas ?

Sounds good for Sam, that can’t be disputed.

PIs view will of course vary according to their entry point.

Since 2012 Sam has been disingenuous, at best.

Remember when we were going for full FTSE etc
….

Sam’s modus operandi would be to release an RNS announcing Heads of Agreement have been signed and begin either the search for an Operator Partner or start the process of bringing in Contract firms to provide the skills required to be and operator. Contracts would thus take payment out profits.

Kick the can further down road and Sam still gets paid ….

If FID was signed then perhaps many PIs would sell into the rise and exit ?

My concern would be, as LTT suggests: “ that they could offer up the shares to institutions but that would wipe long term shareholders out! It would make the deal PMO got from Harbour look excellent and generous! “

Would Sam do that to us ??

I suspect making a small project that makes a positive return may be hard as it may prove difficult to attract financing options. You only need to look at how hard RKH have found Sealion to finance.

Equity based on a smaller scale operation seems and option but many PIs would not stay.

OM seems the only option.

Sorry … OR Equity raising

Agreed a smaller operation may have a better chance of attracting bigger funding but RKH are getting so close to the financial wire that even this may be out of reach at present. Seems OM Award of Equity raising is the answer ?

Should we change the thread title to:

No Update from Sam

harpmandoodle, You may have a point.

How can we even be sure that RKH will not simply ‘ignore’ our Requisition Letters or simply choose to underestimate the votes received ?

Any one ever discussed timescales for the resolution with Sam ?

Do the BoD have any target by which time they will look elsewhere other than Navitas / HBR ?

I would hope they would already doing so but Good Luck in getting Sam to admit to that !!

Exactly… as soon as the position is clear. My point is that Sam may well be just like many of us. He knows what he would like the end position to be - Sealion production but his lack of ability is THE main factor that has prevented movement forward. We can only change the the things in our control. Agreed we have very unlucky : the very size of Sealion, Oil price spikes, Financial crashes but poor deals with PMO, FIG and Navitas are down to Sam.

Can’t disagree, SpaceHopper, Sam can’t report on what happening but my point is that he has an abysmal track record in getting RKH into this sort of position. I just hope OTHER oil AIM companies realise what a liability he is … end of his working life I hope.

No real surprise there and just re-Inforces the view that no matter how much Sam and the BoD squeal they will now find it even HARDER to move Sealion forward. OM now seems key and Sam seems to be adopting the same approach as when PMO allowed UK Govt Export Funding … sssh let’s not rock the boat. Seems the same approach with the OM
case. Hope it gets around the Oil Companies how useless Sam is and the lack of Comms ability. We’re in a different world now Sam. Jump before you are pushed.

So can we all agree there are THREE debating concerns : Navitas involvement, HBR exit terms and OM Result.

Each one of those three has a number of factors to be considered by each party.

Maybe it would be helpful to list them to determine possible outcomes or just to recognise how much ammunition Sam has to justify kicking the can down the road a little longer ?

How is a loss of 95% of RKH value an investment.

RKH is simply a Charity for less able Executives

The UK version is more logical. Math is an abbreviation of mathematics, which is a count noun in British English because there are different types of maths (geometry, algebra, calculus, etc.) and a mass noun that happens to end in an 's' in American English (like gymnastics in both dialects).

Today I’m going to look back at RNS to examine what Executives gave up in return for shares …

Any thoughts ?

Requisition Letter received from II.

Copied and forwarded to RKH and yourself.

What frustrates me is the manner in which Shareholders are treated. The basic premise being: We, the BoD are I charge and YOU, the shareholder do NOT need to know or are not entitled to know even IF they are still taking to Navitas or HBR.

Obviously we don’t expect chapter and verse and there is a Commercial sensitivity but the BoD have NOT covered themselves in glory with their lack of communications skills hiding a plethora of poor decisions. When will they learn to work with us rather than run the Company into the ground ?

And there you have the nub of the problem with AIM …. None of it is an investment but merely a betting shop. May as well go to William Hill.

Unfortunately we fell for Sam’s smooth talk and we’re convinced. Now we find out the reality !!

All we did was place a bet , Sam is able to ignore our wishes about how the Company is run and how much money it pays him….