Member Info for mrc_mrc_mrc_mrd

I bet it is BTFATH1

Some clever dick trading strategy where he heavily shorts the share so he can get a couple of hundred pounds on long

AA - it sounds like you might be the pot in this discussion calling the kettle black.

If Caddy is right then you are certainly losing at the moment!

Lol AA - so someone who bought in at 2.25p would be feeling good about this investment now???

We are plumbing the depths here. No LTH are in profit under this BOD who have presided over incredible value destruction.

Stop blaming the old BoD who left 4 YEARS ago!!!

Chilting you are a very basic sort of fellow.

The U.K. should be striving for self sufficiency in energy. Even with renewables we need a lot more investment. It would be rather foolish to run down all the infrastructure. Especially when the strategy seems to be based on a hope and a prayer that hydrocarbons will quickly become obsolete. In fact demand is forecast to rise!

You have called this badly wrong. We are now seeing strong U.K. gov support for oil and gas developments.

Mjapac- I believe the BOD are desperately trying to sell. They think AD is the future and I think they are probably right to prioritise that.

My view is there will be a fire sale or straight relinquishment of Ruvuma. They simply can’t fund it in my opinion. Better to get rid of the liability.

Doubt they will get it away at 0.5p now

The money been spunked lads. Clear enough to me.

More delays by the looks of it which means more cash burn.

Not too clever of Tom and the goons at Gneiss

No danger of that I think KO- everyone has far too much to lose these days with total war. And there is no credible ideology to drive it.

Just a man measuring his Willy I think.

After all the personal rubbish today it is worth revisiting what this thread is all about - credit to oilriches for his analysis which I think most would agree is pretty spot on.

“ This board have shown after 3/4 years what they are capable of....my assessment of it all is high cash burn and lost shareholder value. There is very unlikely to be a sale at this stage and an inevitable fund raise will be coming whatever way you look at this. Existing shareholder don’t have a chance but there might be an opportunity for new investors in the near term. There is value in Tanzania but short term funding is likely to be 0.45 - 0.50 at current sp. Hope I am wrong but I don’t see anything different to the norm with this lot.”

Yes Chris - it would only apply if a potential buyer had bought shares last April when the SP was 1.85p. And the. Went on to make a bid for the company. All highly unlikely.

Your welcome

Maybe he really has just gone bonkers.

It has horrible echos of WW2. He is picking up some strategically important areas, and if he truly believes all this stuff then where does it stop? Which map does he want to roll back to?

The west will impose sanctions and increase military spending.

It’s very interesting. Putins regime is essentially a kleptocracy. Part of me wonders if this is manufactured to manipulate markets for his pals to profit from.

Can’t imagine he would have support to start an ideological war.

I see Chris dodged my question earlier:

Why would they have to pay 1.85p?

Don’t remember that being a rule of the takeover code…

More BS?

Fight the idea, not the man.

Come on AA and Chris! Let’s have a sensible discussion instead of bashing.

I disagree Chris

There will be another excuse I’m sure if they do manage to offload Ruvuma.

Same old SCIR

SHS - I am highlighting a major risk. Essentially BOD incompetence and misaligned interests.

It is a good reason why the SP is in perpetual decline.

Any rewards here will come when this risk is removed IMHO.

Micro cap is absolutely not an excuse. The BOD have stated an ambition on numerous occasions to grow into a mid cap.

SHS - this type of contract should be competitive.

Poor governance affects the share price and access to capital.

Even if Gneiss are the best guys in the world, the fact they bought their way onto the BOD and handed themselves contracts and lucrative paid positions looks terrible.

I’m sorry but this sort of stuff matters for a listed company.

Gneiss is being paid to do a job.

There is a perception that they have been given this “work” because they have influence over this BOD. A related party transaction.

The BOD should be extricating themselves from this relationship. First step is to get rid of rycroft and not to renew the retainer after the 12 months are up.

I do expect the rot is deep though and we need a brand new BOD to come in to affect change.

I doubt it SHS - they will just continue to draw salaries for doing nowt IMHO?

And this Weak AF BOD will encourage it IMvHO.

Why would they have to pay 1.85p?

Don’t remember that being a rule of the takeover code…

More BS?