Member Info for pshepp

The past can not be changed, and if you think that by destroying the reputation of Foo and Dik will add value to your holding I think you are very much mistaken, in my opinion the shareholder group should be concentrating on making sure that going forward we understand what the board plans. I went to the AGM, I didn't ask any questions but listened and found it very constructive and find it very disappointing that we now have people who didn't attend critising those who made not only the effort to attend but also to give their take on the situation on this board.

Having been to the last 5 agm's I came away feeling slightly better about things today. There is a lot of logic in Dik's explanation on the Eneo situation and if this is correct you can see the logic in them now giving a commitment to other large generators which will without a doubt benefit vog and he came across with far more confidence than he has had lately. The CNG wasn't really mention in the Q&A but talking after the event would suggest that this could be good, with a choice of 3 options going forward and could start without any financial in put from vog. There were some good questions asked on behalf of the action group with regard to Savanha and being fair the board did a fair job of answering them. The royalties and wages question were well asked and I would agree that contractually they are awkward to get around morally the people involved could appease the share holders. The big question is...... After all the AGMs I have walked away feeling better about my investment but I'm further in the shit after each one....is this year going to get any better? We shared the lift with Kevin on the way down to the room and I explained to him that for the first AGM I stayed in the Dorchester this time I stayed in the Travelodge and guess what he said...... Stick with us we're going to get there, we'll never give Up! Nice to see everyone especially the one in the hat!

Hi Looneyloser You must be able to come as a guest, I bring my wife with me and she is always allowed in on the basis she can't vote.

Hi All I'm here on the edge, I will be at the AGM as I have been for the last 4 years, ( and reported after last years) and I'm hopeful that most questions will be asked there, who else is going to actually attend?

Why would YF finance put off other investors, or am I reading your post incorrectly?

I hold in excess of 500k and I am quite happy to add my support, there are certainly a lot of questions that needs answers my only concern in this call for resignations is who is the main contact dealing with the cameroon government?

I went to the show this morning but unfortunately missed the presentation , and so I went to the stand and had a reasonably long conversation with Mr Dik. Unfortunately there was very little substance to come out other than the old energy minister has been arrested for suspected fraud and it was implied that this would be good for vog, they are very close to signing new deals on large supply contracts (as always) they are close to doing a CNG .deal ( only 3 years late) and they still think they will get Eneo 're signed Up, but if they don't they will need to raise more cash. The stand was not busy and I think the only people I saw on there were current shareholders trying to get information on what is going on. I did ask about the mystery new share holder/s and theory are a number of institutions, and guess what they are not happy either, they only thing that does seem ok is the contributions from Grynberg are all in, but then I think he's got enough problems of his own! The presentation I believe is now available on the website. I would be interested to hear from anyone else who went today to see if they had the same opinion.

The interesting thing in all this is that someone is still interested in the stock, although at a fairly low price. We have managed to hold this level for well over a month now despite everyday being a majority sell day. Another mystery to add to the mystery 20% purchaser.

It seems to me we are now stuck between a rock and a hard place, we have little cash left having used the the last round of fund raising money to pay for the drilling problems when it was supposed to pay for future works. We have at lost at least 3 months of revenue from Eneo which probably means at best we have been breaking even , hopefully in profit and cash flow! If we now get Eneo back or sign any more major contracts we will need to do the work on the plant and probably lay more pipeline, so how are we going to fund that. I was hoping that someone was going to come in and put us all out of our misery at say .65 but now j can't even see that happening, so now I really don't know where this is going! Perhaps Kevin and Dik could answer the question for me as they don't seem to be doing anything else at the moment!

If I'd asked someone to dig a hole in my back yard and they'd told me it would cost £40 and then come back and asked for £87 I'd want to know why, so why did we just roll over and pay them? And then let them mess it up a bit more and agree to pay them another 3m to sort more shit out? The whole senario is a joke, I hope the directors sleep well because I know I wouldn't!

The whole thing seems very strange.

Unfortunately old timer I have emailed Mr Foo on a number of occasions, attended the agm's and in the past managed to speak to Lawrence on the phone but the one thing I've never managed to get is a straight answer to any pointed question.

Dik probably does read this blog and it is a real pity that he doesn't chose to answer any of our questions such as.... Have our partners made all their payments with regard to 107 and 108 as I can not imagine Grynberg being very happy with a 47m overspend. Has the Cameroon government paid their share of the previous costs for the 5% that they have been given as I can't see it in receivables? Who were the lucky people who have managed to change 22m in to 12m in the space of 2 months following their in vestments in vog, and are they likely to be sueing vog for non disclosure? Who are the owners of Savannah , and do any board members or board members family have any financial links to Savannah? Why when CNG has been talked about for so long have we not built the plant before now? There are just so many questions that need answering, roll on the AGM.

Well the good news, if any is that the Hoover is still after stock just been offered .3325 for 100k. 60p bid coming soon!

So we are on a 50/50 will we survive? What would you now take for your shares? A great deal for the unscrupulous Mr Foo sell the company off cheap but collect a major retirement pot by selling them his royalty rights. Unlikely? Nothing would surprise me, who brought the 20% and who's hoovering up all the stock?

If you got a chance to look at KF's bank account I don't think you will think he had bad Luck!!

Who apart from Eneo/actis would benefit or want to take over this company in its current state?