Member Info for Mumbo_Jumbo

Surin I am asking the hard questions that you want to ignore. I dare say at your peril! The end of April creditor time bomb is not that far away.

The report is a very British way of doing things. As I said, if this was the US, you would have seen people being charged. Where is the FCA, they haven't started their investigation or more likely, are completely unaware. In comparison, SEC in US would have launched an investigation straightaway once the report was released. This is why so many dodgy dealers come over to LSE and treat shareholders badly and seemingly just get away with it.

When you are giving out figures in you accounts, people will make investment decision based on those. There could possibly be a lawsuit against Wood down the line. In anycase, have they fired those individuals or are they still employed by the company.

SWLC - If this was USA, you would see people going to jail for this sort of thing, and not for a short period of time but for decades. Especially after Enron, they take these things very seriously.

If they want key staff then they can give them golden handshake deals and poach them. Granted there will be 1-5 months lag depending on the contracts they have with Wood.

Never understood why PureTech is so under valued. world class bod and pipeline and cash galore. What am I missing?

That's my point, sidara can take everything to the brink and let wood burn itself (no pun intended).

You are glossing over the fact that they lied to auditors. Lenders don't take kindly to companies that present fraudulent accounts. Let that sink in.

They are basically stringing this along till the last possible moment and then say no. They know wood inside out by now with the amount of due diligence they have done already. They are waiting for the ticking time bomb of credit waivers to go off at the end of April and then pick up the company for fraction of the price it is today. Current equity holders are in for a rude awakening, the company will need to have a plan to recapitalise itself before the end of April if Sidara say no and waivers are not extended.

Recovery to what Stanley? Just hype?

This company should be delisted as they have no exploration or production assets. It's a dormant cash shell with few million in the kitty, thats it.

Possibly dallo. Would be interesting to know what they offered.

Quite possibly the quickest turnaround in bid to no bid? lol

Maybe wait for 2s now thanks to the Orangantun in the White House?

It has no fundamentals, as there are no exploration assets on the book... Should be valued at cash at hand minus the yearly PLC costs.

Caught on a big spike have we MEM?

How about proving first that gas is there and it flows before slapping on any valuation.

Until such point, its worthless.

In other words, we have no assets but look at the rich people on our share register. Then what is stopping the company from acquiring assets elsewhere with such backers? Should be a doddle then. But they have not and have sit idle. If you have no assets, you should not be a listed company.

I wonder if it was on AIM, the nomad would allow such behaviour. If you can afford to pay the higher fees on the main market then it seems you can do what you like. I have seen this another Jersey registered company PRD, where the CEO tells porkies and withholds info where the nomad would at least resign for it and bring the focus on the company.

Stanley - why are you so afraid to debate. What licenses/assets do they have? Usually companies have some assets that they tell investors that they will be exploiting or hoping to with a JV. But they actually do have those licenses in hand. Here you have nothing whatsoever. This company should not be allowed to trade until it has some assets on book that they will exploit.

What assets do they have on book that merits a £16m mcap. As far as I can tell, they have none. They did a technical study on a block with Petros few years ago and been waiting to get the exploration and production license for it since then. How long do you have to wait before you realise there is nothing forthcoming. In the meantime, there are no other assets whatsoever but yet commands a mcap of £16m. Utterly absurd situation where a company has actually no value but yet is allowed to trade on the main market of LSE unashamedly.

Maybe they just want Chinese onboard for backhanders for all the locals. Once the western companies find something, bring the Chinese in and siphon off millions through back channels. Just a thought.

Sack the entire board in that case. Not just one or two wronguns on there evidently.

Yes offer has to be made public.