Member Info for oxygen

Quite a boost for RKH, was always a question of which project PMO would back & now we know.

Of course it is, but the market is completely irrational at times when controlled by II’s who frequently see the PI,s wealth as their target knowing full well most don’t have the means or knowledge to orchestrate short strategies to release funds in their direction. Couple that with the inside gossip circulating the City every day and you can see why many PI,s just hand over their cash to Fund Managers.....so they win again . Depressing isn’t it !

I have no doubt that if the Senior Terms are right then the cash will be forthcoming. The question we all don’t know is what impact , if any, those Terms which may now need amending , will have on the Equity holders, either short or longer term.

Excellent response and would be very surprised if MW don’t soon become Defendants as one can feel the anger felt. As a LTH have no intention of trading this, will revisit that decision in a years time.

Well lets hope this ‘stronger market’ arrives pretty soon and instead of the Lehman style crash that Nomura are now advising could hit the US Markets late August early Sept.

Only problem is they tried to get this Bond Issue away less than 3 weeks ago , and failed. Question is what additional terms will now be imposed ....they need to remove this uncertainty fairly quickly.

So they really believe market conditions will improve later this quarter .....thats quite an assumption !!

Unfortunately I can’t see matters improving anytime soon for AML. They need a capital injection , with capex circa £300m this year and less than £130m in the bank , its a question of what any new bond holders will require ....an equity raise currently looks out the question. But they need to act quickly before this financial squeeze starts to impact upon Brand image. Thankfully I’m not involved.

The problem with Oil E&P Companies is that the shrinking number of Fund Managers who are not ethically barred from a holding, will generally only look thro their rear view mirrors to see progress made ie. financial achievements, not whats ahead. The daily operational risks involved dictate such caution coupled with OP dependancy. Its encouraging to hear Cairns recent comments on current AK production levels but this in itself won’t move the Market, it would not have been said otherwise. Patience is required with this one !

“faith in the management and their ability is really low “ ...presume thats a personal opinion as according to us Shareholders who voted at the recent AGM, AB and his team received a resounding vote of confidence !

Confidence indeed given he now has the wife to answer to should all this collapse around him !

I think it does signify that there is no fundamental flaw with AK as some will have started to believe
otherwise this purchase would not have been sanctioned. Just don’t expect a sudden upswing in sp
as we’re still in the ‘unloved camp ‘ !

Good to see another 1.9m share purchase by the “family” .....at least someone else also continues
to have faith & we are not alone !