Member Info for minimil

Thanks to the share holders who voted their distain towards these greedy mothers. I remember when they took a pay cut to see the company through hard times and even a director lent them money. I'm more than happy to reward success of Wressle, but it cannot just go to half a dozen pigs. At least we know what they look like.....oink oink!

As someone said a while back (10-20%) of something is better than 100% of nothing. Let's see what TOM can hold out for but I suspect it will not be a good deal for shareholders. Likely the BOD will get compensated behind the scenes. Disappointing RNS after the long wait but not surprising really. Hopefully we can get near the warrant price if a deal is struck soon.

LOL one often wonders at what stage of development the brains of these greenies decided to shrink to a size of a grape.

Sorry Iztar - read the latest annual report which was recently submitted. The bulk of Wressle revenues are going to fund the company of which the majority of that is going to Oddie and his mates salaries/bonus's.

We were marching to almost 4p a share before the give away placing at 1.8p to institutional investors most of whom bailed out upwards of 2p. How much did the BOD partake in the placing?? The company is run by crooks. typical AIM.

Most of the revenue is lining the BOD pockets - not being dushed out as dividends to suffering shareholders. No shame with Oddie.

Given the revenues from Wressle et al the bottom line profit is very poor - so where has all the money gone? It did not include the £4 million wasted on Serenity howler. The cash in bank waiting to be paid out in bonus’s no doubt.

Wressle is effectively funding their salaries/bonus's and other costs to run this outfit. Not really adding any share value whilst our typical AIM directors are milking it dry. SO should have walked following the Serenity failure which did not affect him one iota. But as for the shareholders - suffered a 50% dilution - no opportunity to get involved in the placing - a share price that should have been 4p+ now nearer 1p. Thank you Simon Oddie. Do you have any more plans to shaft us?

Fair summary Crownos but note that we have not heard a dicky bird from Potter and Groat since the interims were released back in June (apart from loan extensions which they appear to be experts at).
Granted I accept licenses have to be approved before any potential lender would commit funds to this project but you just wonder what these characters have been up to since the FEED was verified a long time ago.....The potential profits make this a no brainer so I just wonder how hard they have been trying to secure these funds.

I think we all get that haggis. If I was lending them the money I would want to ensure that all the land, licenses, permits etc were secured. Then I would be negotiating how many warrants I get and the price.

The 1% effect of the UKs emissions from a global perspective is a drop in the proverbial ocean. I feel sorry for UK citizens and Igas having to suffer this ridiculous environmental policy especially during these current energy crisis times.
I am glad I no longer have to put up with it. I've just ordered a new SUV, and guess what, it's pure petrol turbo :).

@asimpleinvestor - I am totally with you on that. Lets see how much is left of TOM if the funds are raised.

Torreaguas - Nice simple way of looking at it. However, if/when they start producing oil and the clean sand that go's with it, revenues at todays prices would be close to $200MM pa. So you are correct the MC would be far too low.
However, there is still lots to accomplish before we can start thinking about the potential here. I am surprised that given that they have struggled so far to get backers.

Whilst the RNS today was very disappointing, and lots of posters banging on their calculators about the new net worth SP for EOG. But has anybody not questioned the competence of the reservoir engineers here on both sides?
For me they gambled with 14 million quid and got it badly wrong. I would expect to see some heads fly on both sides. SP should resign because he took the SP down from almost 4p to where it is now. I did support him but if you take the gamble you have to go if it does not work out. Simon you have had your day go now.

The fact that any posters are predicting anything now when the drill is 30 ish days says lots. Hope is fine but crystal ball stuff please keep to yourselves.

Prefer it if was the appraisal well lol

I am still waiting for the last jerk to turn up with his "in the know" post following the last false dawn.
Let's see how this week pans out.

Keep going will buy more tomorrow ??

Agree Wonga, but without the funding they are promising the moon but don't have a rocket. Don't know why they cannot start small and build up....

Only a matter of time now before Inishkea gets approval. Brent back over 100 usd and gas above 9 usd. Can see gas price breaking its record high (and some) as winter approaches.

Thought I would bring this up as for me this is really where we all need to be focused. Confirming 197 mmbbls oil
initially in place will be the start of happy days. The conservative Tennyson report values the unrisked asset at 21.6p to Europa. Add on the onshore 2.4p and you can see the importance of a successful drill. Inishkea and Falcon if we get farm in interest will add another 12p but these are still dreams at the moment. What the SP would be if all 3 come in is in pounds not pennies. Serenity first though. GLA.