Member Info for OofyProsser

Has anyone spotted a reference to the net proceeds of the placing? I can only see the gross.

Ocelot: what do you consider a “lights out” market capitalisation? This company has been and is a disaster and a money pit for investors. I think you know this. I trust you find polishing your list of turds profitable. A horrible way to earn a living.

Why are the shills so excited? They announced all this in an RNS at the end of January and it’s been on their website since then. Odd to have Alliance News popping up with it now, what?

This talk of the volume of available shares is a smoke screen. The fact is, Vast is desperate for money. Mr. Prelea’s £400,000, if it exists, will last a month or two at most. No cash, huge debts, no earnings, no diamonds, no “Swiss investor”, no re-financing, just pie in the sky and anxious creditors.

Yes, Ocelot. So, with the new compressor on site and strong gas prices, to what do you attribute the continuing weakness in the share price? It’s close to its all time low.

AIMforlife: is that what you think has been happening this week?

“interesting times”: there’s at least one more explanation for the absence of a fund-raising and that is that their financial advisers can’t find any appetite for a placing. That would also explain Mr. Prelea’s “loan” to Vast of €500,000. “Interesting times” is right. It’s part of an old Chinese curse.

Oh well, I wish you good luck with it.

Bubblepoint: “ WE are expecting modest progress throughout this year to secure longer term productivity and revenues, along with more transparency.”.

Is that really why you bought into this? If that’s the case, you should have bought shares in Shell, not Anguish.

Ooh look, it’s on Sharecast NEWS..

Ocelot: you know about RNS!s and news releases. Why have they released the RNS about the arrival of the compressor?

Crocqman: a prediction that the compressor would arrive late in January is not news. Its arrival is. The Angus managements’ predictions of timelines have been unreliable in the past. The fact that the thing has arrived is therefore news. The absence of any price reaction reflects shareholders’ disillusion with it.

Bubblepoint: you haven’t been following Angus for very long, have you? You’ll learn.

Not news, Bubblepoint? What would you call it? Yawn. .

Well, the big news this quarter is out. The compressor is in situ. And it’s been greeted with a massive yawn and a “so what?”. Two years ago the chat boards would have been lit up. You’d be forgiven for wondering whether the management is composed of Trappists or whether they’re actually Dementors. Perhaps Mr. Zielicki will be wheeled out again soon to talk it up!

Bubblepoint: there’s no denying that the Trappist management here took on a difficult inheritance. But Mr.‘Erbert is a serious, professional senior manager of oil/gas businesses. He knew what he was taking on. His job is to work on behalf of shareholders to secure them the best possible return on their investment. What’s happened since he arrived is a sustained, substantial decline in the share price. His reaction to this has been to retire within the monastery confines and send out the hapless Mr. Zielicki from time to time. Not necessarily to the benefit of shareholders. Interest from investors has dwindled with the fall in the share price and in the absence of regular updates. The booster compressor appears to be behind schedule. They’re cash-strapped. The share price is the only meaningful measure of the management of a company. However you argue it, they’ve not done a very good job so far, in my view.

Poor lemmings.

James2: I think it’s unfair to give the Earl of Lucan grief. He bowed out ages ago. The new management appear to be locked in their monastery cells, having adopted the Trappist code. We haven’t even heard from the temporary Interim Chairman for many months. His former pronouncements seemed to take their toll on the share price. On no news, no one is interested any more and the share price is just drifting back to its historical low. At least with Lord Lucan, Angus was a good laugh.

I repeat that there’s nothing in the RNS that precludes repayment of the “loan” from the proceeds of a placing. You are very trusting. Do you think Mr. Prelea’s record justifies your confidence in him?

The €500,000 “loan” was announced in order to get the share price to a level where a share placing would be possible. I can’t see anything in the wording of the RNS that precludes its being repaid (assuming the money has moved to Vast’s account) from the proceeds of a share placing.

Poor lemmings. They’re at the cliff edge, where those behind cry “forward” and those before cry “back”. But, desperate, they persevere in their fatalist dictum “we’ve got this far, we’re not turning back now”. Meanwhile the nasty, greedy little sharks at the bottom of the cliff are baring their teeth and grinning. A tasty meal on its way that should fatten them up nicely - until the next time.