Member Info for OofyProsser

It seems to me that, currently, these AIM oil/gas company LSE bbs are for people who want to exchange optimistic views - sometimes fantasies - with one another, like people walking through a graveyard whistling to themselves. There also seem to be a lot of people who have such extremely bullish views that it’s tempting to interpret their posts as attempts to draw in ingenues to support their price. And I’m reading that some of them (who may even be paid employees of the company or its advisers) are even combining to “report” posts written by people who post opposing views, with the intention of getting those posts censored and their authors banned from the sites! I can’t believe I’m writing this but it seems this is what is happening - and being allowed by LSE. Have people actually been permanently excluded from these sites by LSE at the prompting of these people? Does anyone know? If so, it’s ridiculous and should be reported to the FCA. It will tend to create a false market and small, inexperienced investors will be its principal victims. Is this what these sites, and AIM itself, are for? Insiders conspiring to mug small investors?

These bbs should be for anyone to argue the case for or against, and for people who want to ask sensible questions to request sensible answers, without the discouragement of attracting (sometimes foul mouthed) abuse. Can’t we try to achieve this with this bb? It would be good for everyone - except hopeless management and corrupt rampers.

If you don’t hear from me again, I think you can assume that some of the above, at least, is true. I’ll have been banned,

Cynderlad: I think your summary is on the money. It’s nice to see, from a novice’s point of view, that someone who knows how to has taken the trouble to read and analyse the recent report and accounts and share his sensible analysis on here. People should be thanking you, I don’t know what’s the matter with them. Yes, it appears to need money pretty soon and it’s then an out and out gamble on the success of the first Turkey well. The huge majority on here are apparently trying to support their price and are going to extraordinary and disingenuous lengths in doing so. Please keep up your good work.

That’s what running and jumping and playing every day does for you. Time to put in some time on research. Guesswork will only get you as far as the next placing.

Highly impertinent, suggesting I qualify as a troll. If I were one, I’d eat you for my supper.

What’s this about being banned? Who gets banned? From what? And by whom, and for what reason?

Mirasol: sorry, has that not been completed yet, then? I’ve been following the conversation on ADVFN, where the people seem a bit more clued up, what?

Wizard125, Skwizz: Many thanks for these replies, very helpful.

Can I ask why investors here are willing to gamble on this Turkey prospect when UKOG’s partner there was keen to cash in many of its chips in this game? Surely Wishee Washee at Aladdin knows more than UKOG knows about it? What will Aladdin be spending the money on that it received for UKOG’s new share in the prospect? If the oil prospect looks good, it should be possible to borrow the money required to complete drilling and bring it to production. There’s a small oil/gas company called Angus Energy (which also has assets in the Weald) which is borrowing £12million from banks to complete an onshore gas project in N. Lincolnshire, whose outlook is no more assured than this Turkey prospect. Aladdin/UKOG should get on the magic carpet and beat a path to the door of Aleph Energy, who are arranging the loan for Angus, innit?

Have UKOG got planning permission to inject water?

Any “big boys” fooling about in Kaz like this would have done far better to have switched into Anto or Glencore. Most miners operate in dodgy jurisdictions but you’d have to go a long way to find one dodgier than Kazakhstan. Still, with any luck one of the enterprising investment banks may be willing to arrange an IPO for Kazakhmys in a year or two, and everyone will have the opportunity to buy back the mines they paid Mr. Kim $300mm. to take off their hands a few years ago. What investment bankers cheerfully refer to as “a good deal for everyone”. Cheers.

gkb47: rather you than me! Even the dodgy AIM system and its participating beneficiaries must notice the writing on the wall. One of these oil minnows is going to be hauled out of the AIM sludge treatment pit soon and hung out to dry. The resulting unpleasant smell may affect some of the others. It’s a question of determining which has the limpest grip on its finances. I doubt it will be UKOG though..

gkb47: you’re entirely right about this, and about the appalling lack of any kind of oversight on the part of either the FCA or the AIM. If UKOG get to the end of their latest rainbow, they'll doubtless find a fat Turkish leprechaun greedily sitting on their sack of liquid gold, pointing his beastly stick and laughing loudly at them.

The Non-Exec Chairman’s remarks in the Annual Report were hardly calculated to ingratiate him or the company with the local planning authorities, were they? They read like one of Mark Barker’s nighttime posts on the other Angus bb. Shocking.

I wouldn’t be hopeful of realising any value from NMC shares. But if you’d like to follow the Earl of Clanwilliam, who was a Board Director and the Chairman of NMC’s Audit Committee while the events detailed in the excellent Muddy Waters report were occurring, he’s currently Non-Executive Chairman of a well known oil and gas entity listed on AIM, called Angus Energy plc, where he continues to weave his magic.

Ah, I see. An RNS to say no one turned up again, adjourned sine die. Not very good, is it?

Does anyone know what happened at yesterday (Monday 12th)’s adjourned EGM.

Quick work by FTSE. They couldn’t wait, could they?

Bottled: you never know, do you? Do you think Mr. Southam will get his just deserts and have to move to a new head office in Nur-Sultan - or Pevek? Ugh. They’ll all be glad to escape scrutiny of any kind, anyway, I should think.

Perhaps Mr. Kim will apply for a London listing for Kazakhmys, the proud owner of the profitable Central Region mines. It will be like 2005, and the whole cycle can begin again. Happy days.

Good luck to you, and to Shakhtar and Tucson.

That’s that, then and an embarrassment to the reputation of London as a financial has been belatedly removed. These boys can now play hard ball among themselves.

Shakhtar: yes, largely irrelevant, though true and interesting, I think.

Yes, I was banned from an AIM company site and wondered if a change of name would allow me back in. Sadly, all it did was to erase my whole posting history! So many insights lost without a trace..

It’s owned and managed pretty well the same as it ever was. Mr. Kim’s big windfall was a reward for loyalty, though how much he kept is not known. His % holding is similar now to what it was before he sold those shares. He got the job in the first place because Mr. Ni (President Nazarbayev’s right hand man) took him under his wing.