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Anyone that has been in here or iii for some time will remember Newfie (rip). He said he was messed around and not paid by this company. I know of at least two others that have failed to get payment from Alan.
On this basis there may be merit in the court case, because the Mintys have previous for messing people around. If you believe what you read, they treat everyone but family and a select few with total discontent, shareholders included.
Is there a deal or is this just a way to keep the gravy train running. Who would put new money in here?
Only time will tell but the track comes to an end soon
The biggest noise shareholders could make is to vote Damian out at the next AGM if they deliver nothing by then.
£170k for drawing brackets round every number
I haven’t posted for a long time but after this last RNS felt the need to do so. Last throw, Lyndon and Mcadder have no option but to completely back the company and the placing, anything to the contrary would be detrimental to their over exposure in this “investment”.
Shareholders face an impossible task, at least that is my opinion after being invested for 10 years. First of all there is the will of the BOD to ensure their family are all paid well from the NUOG Board, MFDEVCO board to RMRI. Instead of the company investing in its future its apparent priority is to repay RMRI for undisclosed work, maybe for identifying marginal fields? May as well have paid them to find the meaning of live.
So if the array of companies designed to suck value out of shareholders doesn’t get you, the MMs will, the price has been bouncing around for no reason whatsoever.
Finally the relationship between Novum and the company will extract value from shareholders if all else fails. The timing between glimpses of good news and forward selling is uncanny.
I was all for the open offer because it forced their hand to actually deliver something and deliver before the money ran out. But why change the habit of a lifetime, nothing was delivered and now it’s rinse, wash and repeat - raise more cash.
Simon will run around akin to Manuel from Faulty Towers whilst Alan plays Basil stomping around and shouting. He is clearly a control freak, those at the AGM will have seen him constantly in Alison’s ear.
GTW, marginal fields, fracking and all the other fools gold this outfit have been involved in have, and will surmount to nothing. With the shift to ethical investment by the big oil companies, why would they engage a minnow like mfdevco and not just spend their billions doing it themselves. It’s hardly as if Nuog have a glowing track record.
The open offer is a done deal and not worth voting for, I see it as a white flag, a symbol of their failure to achieve. What happened to Brazil, the millions invested for nothing, when our chairman told so many it was the panacea. He will continue to leak to the chosen few, the open ears, the willing and the yearning. Sadly, it is my belief that the only thing this company will achieve is nothing. The only thing they have been good at achieving is nothing!
So a placing will follow the egm, of that there is no doubt. Most of that, if true to form, will be to pay for inflated salaries for achieving nothing. Some will pay RMRI for undisclosed services and no doubt some will repay loans to the previous chairman.
Those with large holdings will have no option but to recycle the BOD’s evangelical preachings.
I am a shareholder, I hold less shares than I once did but the chances of success are like seeing a donkey from Blackpool beach winning the Kentucky Derby.
I continue to watch with cynicism, waiting to be proved wrong.
The drums are rolling tedules............
Welcome back Tedules, I remember you from the old days on iii. A credible and knowledgeable poster. I look forward to receiving your thoughts later today
Big sells after closing
Jarem That is a pretty convincing read, it is unlikely that Alan has dropped his passion for this and technology has moved forward. The government would support this to reduce dependence on Russian gas and funding would not be hard to find. I see real potential in this and what if Simon were to retweet this news? I am sure a gas play has been mentioned on here before.
And to the contrary Royscott, please explain what will happen to the share price if it is TM?
TM has been mentioned on here many times and never been denied. Company tweets that have been through the nomad clearly stated projects in Brazil. If it looks like a duck, it swims like a duck and quacks like a duck, it’s probably a duck.
So what happens next............... The bondholders have approved the deal, so negotiations are complete. There maybe some legal loose ends to tie up but I now see several scenarios over the course of the next week. 1. Increased interest resulting in a rise of 50% and the Board being forced to announce the deal. 2. Board announce that the deal is done resulting in a suspension, if it is done then they must let the market know within 10 days 3. Nothing forthcoming as there are other known unknowns to tie up with partners. In any event I suspect a rush to buy in and top up next week before the shutters come down on any window of opportunity
It is clear that stockwizard, racey and all their pondlife henchmen are bashing this to get a lower entry and then buy in. Fundamentals have not changed, just the timeframe to get complex deals over the line. If people let these paid bashers and self centred sociopaths change their mind then you will lose money and line their pockets. They have sent threatening emails to those that challenge them and their futile existence. Keep an eye out for the games that are being played and the levels they will stoop to. Trust not what you read from their many aliases
The absence of trolls speaks volumes, expect buying pressure Monday morning. Looks like it will be the most interesting day for 6 months tomorrow. Might see 25%
I wonder if the sudden activity on here is related to a certain bond holder meeting that was held today. Perhaps something has leaked from this as all resolutions were passed. At what point do dots turn into solid lines
Rio de Janeiro 4 hours behind
Many have waited 10 years for this day!
Seadog, I think what puts this into perspective is ukog, they have a MCAP of £125m and are talking about 200 bopd. If successful we are talking about 30 times that in the short term and potentially 500 times that if full capacity is reached. I assume you are not adding any value for the reserves is the ground. I believe the first deal will give bookable reserves that would give finance for future deals akin to property investment. It is the first deal that will open many doors. Granted there will be a lower % of the income that goes to nuog with mfdevco and the operator, but these are big numbers we are talking. AIM shares are valued on potential as well and it could be in 2/3 years we are looking at FTSE 250, I know this was mentioned as an objective at the agm
Not often you see a £1b company gain 44% in a day, what’s Nuog’s slice of the pie? It appears the devil will be the detail and only the BoD know that. It does look like the current operators are going to be kept in. Biggest win win for all parties, looks like a master deal. If this is pulled off it’s the deal of the decade
So if you look at the MCAP of dommo and yesterday’s increase and then apply the same MCAP increase to this share you get a pleasant surprise. Even when you take into account nuog 50%
Well, first the bondholders and then a finish like that! Where there’s smoke there’s fire and the mms were stretched at what looks like a coordinated buying frenzy.
Will there be an RNS Monday morning or news over the weekend. Looks like there are some more in the know. Too big for punts
Just come in, guess they didn’t want to be out over the weekend