focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I think he should call them and mention the expert cost-effective drilling company Savannah, won't get better in Cameroon. I wonder what they are going to do with the 20 million rig that is now lying idle?
Do you ever wonder how FOO's family afforded 4 million for the first drill to get his royalty deal?
Send FOO a direct email he can't deny it that way, he won't answer any emails he can't deny so could be a pointless exercise.
Not gonna happen smokey, I have it on good authority the audit is happening but whatever it comes out at it will be put towards what is owed in taxes to the Cameroon Govt. Foo managed to keep this very quiet
3CB, VOG will never see a penny from the Cam Govt for the 5% because they owe the Cameroon Govt a **** load of taxes. The deal will be a write off on both sides so we have basically given away another 5% of the pitiful pot that's left.
FOO is a disaster he has constantly given away what isn't his to give away, he thinks the company is owned by him and his family. He should be sacked today!
That we have never made a profit and survived solely on bank loans and share dilution, paying extortionate salaries and bonuses to prepare a gas field for the Executive chairman to make millions out of.
You just couldn't make up what has happened here, and the sad thing is the same guy that has fed us the false promises and timescales who is unbelievably well renumerated is still making the decisions for the future strategy if there is one which I highly doubt.
You have to hand it to FOO he is some canny operator!
Again was thinking about this, the very man who is running the company is stopping it from moving forward. Without doubt we will never get any decent recognised Institutional investors onboard whilst this royalty is still in place.
M/T can I suggest that this is on top of the list of questions that need answers if FOO can explain why he doesn't see this as a conflict of interest then I hold my hands up.
Ten questions to help identify a conflict:
Are you a director of or a significant shareholder of a company which is:
• A significant shareholder in the company?
• In partnership with the company?
• In a joint venture with the company?
2. Are you a significant shareholder of the company in your own right?
3. Does any external body you are associated with have any of the following relationships with the company?
• Supplier
• Customer
• Competitor
• Banking
• Distribution
• Any other ongoing, but material relationship
Examples include where the relevant body is bidding for a contract against/with the company OR acts in any way as agent for the company OR provides financing to the company (or any of its subsidiaries).
4. Are you associated with any adviser to the company (e.g. audit, tax, legal, investment banking, pensions or investments, management consultancy)?
5. Are you a member of a committee or of a commission or do you have a material position with a regulator, any department of government, a trade body, a professional body or a Charitable Organisation (e.g. where the relevant organisation influences government policy, influences accounting standards or is preparing industry guidance)?
6. Are you in a position that you (or a company you are a director or material shareholder of) could make a profit as a result of your directorship of the company?
7. Do you know of any other circumstances that could give rise to a potential or actual conflict of interest or duties?
Before the investigation?
I agree with you B/S he has utter contempt for shareholders his comments say it all. At the last AGM when he made the comment I’ve lost money as well that was the catalyst for me, considering he will earn millions in royalties and his shares where awarded as part of an over inflated salary for years. IMHO he is totally unscrupulous and willing to trample over anybody or anything to financially gain from this company.
To see a rise in the share price it’s little consultation. To those investors that have been led down the garden path by Foo and co over the past 10 years. The price currently sits at a pathetically low .7p against a price of £9.30 some years ago. The fact still remains exactly the same NOBODY I am in communication with either trusts or beilive’s The Executive chairman Kevin Foo. This is a fundamental problem with this company as the rot starts from the top. Let’s get the EGM called and get some direct answers to direct questions, FOO knows his days are numbered I don’t want him jumping ship until this whole mess has been investigated. They say “time is a great healer” not in this case I will never forget they way I FOO has taken my peace of mind for years due to his greed and egotistical ways.
Firstly I would like to thank you for attending the GM today, living in a different country it's difficult for me to attend, however without a doubt if the shareholder group call a EGM I will make it my business to be there. The one question that really sticks in my gut and would appreciate you asking FOO.
a) Does he consider his royalty payments a conflict of interest with his position as Executive Chairman?
b) If he answers no can he explain why not?
Thanks and the best of luck today
Is that the management team in this company have paid themselves excessive salaries, yearly bonuses, share options, and expense accounts to risk SHEAR HOLDERS money in drilling for gas.
Not only have they carried out the above for years but they have also set themselves up for a lovely string of royalty payments for the rest of the gas fields life.
All of this and they haven't produced $1.00 profit in 10 years. It's an absolute F****** Joke
Are they going to pay back the bonuses they have paid themselves over the years for complete and utter failure. I would love a job where you take risks with other people’s money to pay yourself massive bonuses and stock options to get gas out of the ground to pay yourself royalties. What a job these two incompetence hustlers have.
No need to go to all of that trouble bulldog, every person knows the answer to your questions, it’s what we do about it and where do we start!
Banjo, crawl back under your rock and report back to your paymasters. Are you a partner, investor, employee or all!
I have never known a company have so many dodgy partners, investors and shareholders. They are like flies to s**t and the biggest culprit is FOO he has so many fingers in dodgy pies and nobody will ever get to the bottom of it.
YF's head office is located at Market Square, 3rd Floor, Yamraj Building, P.O. Box 3175, Road Town, Tortola, British Virgin Islands.
(just behind the phonebox)
company dealing with VOG, when will it ever end! Absolutely pathetic. Get FOO out!
YF's head office is located at Market Square, 3rd Floor, Yamraj Building, P.O. Box 3175, Road Town, Tortola, British Virgin Islands. TAG's head office is located at 2040-885 West Georgia Street, Vancouver, British Columbia V6C 3E8.
Why wait smokey, let's just get the lawyers on the case. I'll come over to help if you don't have the time. I am convinced it won't take them long to bring a case against the BOD. Go on make my day!
Maybe Savannah & Relatives will buy us? They seem to be able to magic money up from anywhere!
Thank you for correcting me 3CB I apologise for my previous comment however it still doesn't deter from the fact that the investors never really received straight answers.
End of the day I'm fed up with banging on about FOO in my eyes he isn't fit to be Executive Chairman of VOG he has failed the shareholders miserably and not shown one second of remorse for his utter contempt and failure. He is only interested in what he can get out of it, simple as that.
The only thing I want is an investigation into the dealings within this company I've basically written off my investment but will not stop until a full investigation is carried out into the affairs of VOG.
issues yet he refuses to answer any questions directly. His lack of transparency and failure to inform shareholders of outstanding issues tells a story in itself. There is a huge web of dec..t within the company. As shareholders, we need to ask ourselves why?
There can only be one answer and it's not good for shareholders.
I have another question for FOO.
Out of his busy schedule can he afford to put aside 3 hours at the GM to alleviate shareholders genuine concerns or is he going to do another runner straight afterwards?