The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Sorry Yin Yang
That simply won't wash The February rns and other statements by the company clearly indicate with a fair amount if certainty and empirical evidence-geochemical analysis-that the Kimmeridge at Brockham "Is of the SAME MATURITY" as at HH-and even richer deposits.There had obviously been a deception and misleading if investors in the first instance,..as theseen two statements of February 4th and June 28th are totally contradictory
Sadly-despite slugging 3000 bopd and flowing 1500 bopd last autumn-GL now states that 300 bopd will be good.In this case,Balcombe will only have a marginal effect on our value,since Angus only own 26% of it.
You only need to read the rns of February 4th to see how far we've been mislead and conned-"geochemical analysis has established the maturity of the Kimmeridge at Brockham"
Fast forward to the conference call of July 11th and Andrew Hollis;-"The oil in the Kimmeridge isn't mature enough".
Somebody was obviously lying and misleading investors,or at the very least negligently misrepresenting the facts.Either way,it's the LTH''s who have taken the long term hit.I'm discussing this with senior city lawyers tomorrow.
If you'd like to know more,please contact me
keither197@gmail.com
Eurofil and mannaman
Nope.No ulterior motive at all-only a desire to maximise my return or in this case break even-the same as every other investor.I was bullish about Brockham,and looking forward to good flow rates based on the company's own repeated statements.Now I'm justifiably indignant because we've been mislead and fleeced.
You have a very peculiar sense of humour if you think its a joke that long term holders have been deceived and defrauded on false premises. ..and want to DO something about it.
The joke is on those investors who are seriously willing to trust this board and complacently follow them like sheep to the slaughter. ..
As far as buying too high is concerned ...that applies to most of us!-who bought at 3p,4,6,8, 10 or above! !!
Manama
Patience?
It could be two or three years before this ever hits 10p again....which it probably will never do because of the avalanche of placings that will come in 2020 to keep the directors' yachts properly maintained,and their Porsches serviced lol
*
RRR..surely you aren't serious? -how can most of us draw a line under this when we've been wiped put to the tune of 90%?
For LTHs this cannot be swept under the carpet and it will not be.
This has been one systematic act of investor fraud and deception from the beginning...Brockham isn't an isolated example. It's part of an orchestrated pattern.We had Paul Vonk grossly inflating and fraudulently misrepresenting the figures for Lidsey flows-400 to 1000+-much higher than any independent study.In 2008 it produced only 5 barrels a day.Just before Lidsey was tested, we had him saying Lidsey would be a prolific producer and would be self financing just 2 weeks before it yielded a mere 40 bopd-and the day after-a placing occurred All very deceitful and premeditated.
Then we had JTP shorting his own company-a credibility killer on the eyes of the city.Then of course,both Vonk and Tidswell saying Brockham will be a star producing asset,they just "need to turn the taps on".They even stated on their website that was of the "same maturity" as HH,and then all of a sudden in the CC it's "not mature enough".Yet another false premise and misleading statement.We had JTP tweeting "it flowed well", when according to the CC "it didn't flow at all".At the very least,this is negligently misleading.It is a consistent and systemic pattern of exaggeration,lying over the productivity of assets (giving figures well above previous production levels)-and so it goes on.
By the time Saltfleetby and Balcombe produce-well into 2020-there will have been a succession ifofhighly dilutive placings,in which we will be very lucky indeed to see 6p again.
LTHs have nothing to lose With no production for the second half of the year and we'll into 2020,the price will inevitably fall below 1p anyway.
Your only hope of recovering your lost investment us by joining our action.No.investor has to pay a penny,as there is third party funding.As well as the company,we can also claim from the insurers and the nomad,for lack of due diligence in preventing issuance of misleading statements,and the London stock exchange.
In all probability this could be resolved thi's year, with the likelihood that they will make an out of court settlement to avoid personal lawsuits and scandal.
Please join our investors group:
contact keither197@gmail.com
Penguins
Repeated rns releases have stated that the second stage involves prep work and then flow testing-read through Brockham Operations update rns of June 3rd:
"Once the (preparatory) work has been completed,subject to the agreement of partners (who weren't consulted!),WELL TESTING can commence,to ascertain whether commercial hydrocarbonf flows can be achieved"
I really hope you are right Sam,and I hope Lucan can influence the sp upwards...but 2p is of no use to the vast majority of LTHs or even recent buyers who bought in at 4p.
I can't foresee the scenario when the sp rises to 6,8 or double figures within the next year, can you?
I'm sitting on huge unrealised losses here,and there is nothing more I would like than to see this at 6 or 8....but in all honesty do you think Balcombe will make that happen?-I don't, we only own 26% of it.....
I'm sorry,but I'm afraid you are mistaken.A succession of rns releases state that prep work WILL be followed by flow testing...
I don't joke when I orc others have suffered 90%:losses-realised or unrealised.
The company's rns stated that preparatory work would be followed by flow testing.The letter of March 29th stated there would be NO flow testing.
Adam07
Just because GL thinks the sp is undervalued doesnt mean the market will pay attention to him.I was totally gutted when he announced that Saltfleetby would
double the share price..and the market reaction was that the share price fell.Sweet,weasel words to placate angry investors....bit all these disasters have destroyed the city's confidence in the BOD.
Penguins
The letter is as clear as daylight:-"There will be no flow testing".
Flow testing abandoned-no ambiguity there. This is the sp crashed as insiders bailed out,knowing this.
Sageman & Co
A group legal.action will cost investors nothing provided enough of them are willing to participate. There is third party funding avail able to pay lawyers fees. As well as the company's money,investors can also sue directors for their fraudulent misrepresentations and the company's insurers,and regulators for lack of due diligence.There is also a conflict of interests between the nomads duty as both adviser & regulator -they've got to incentive to strictly regulate their own client because they risk losing their fee!
And no-it doesn't take years.Companies often make out of court settlements within a few months.
People need to face the unpalatable realities here. Neither Saltfleetby nor Balcombe will come online until some point in 2020-by then I guarantee there will INEVITABLY have been several placings that will have diluted the share price to oblivion. ..
This company has totally lost any trustworthiness or credibility in the eyes of the city.You won't see previous Brockham levels if 4 or 5p this year,because the company will be producing NO OIL.
After a long and systematic pattern of misleading investors,and perpetrating the "pump and dumo" scam with yet another AIM oil and gas company , your ONLY
chance-and even my detractors admit it's a very good chance-of recovering your losses-is to join a legal action -that could see you compensated by the regulator or insurer or indeed the directors.
Also,if Brockham is sold,that's more cash for shareholders
Thus us your only chance of recovering your losses, and stopping thus type of investment scam happening again!!
If you want to be part of it
Please email
keither197@gmail.com
"The 60% fall in share price proves there were no leaks....and the decision had just been taken"
Seriously? -the sp had been crashing weeks prior to the rns-in unusually huge sales,and we now have the evidemce-the March 29th letter to the OGA-that they made the decision not to flow test Brockham months earlier,and simply lied to us all.
Sam
He certainly is,Sam.Don't worry we are all hurting really badly and it's not your fault or any of their faults.
We were lied to,deliberately deceived with false statements about the productivity of oil wells from.back.in 2017.This is a systematic fraud-you bought based on deliberately misleading company statements. They even lied to us about flow testing-telling us they were going to test, whilst at the end of March they had already told the OGA they hadn't.
Join our action group Sam-it's your only chance and hope of recovering your losses -from the directors, insurers and regulators.
And remember also,that they will either have the proceeds of a Brockham sale,or an asset that cam.be sold to recoup investor losses.
Join us!
keither197@gmail.com
Rxdav
I'm disgusted with your heartless and dismissive response to Sam.People's lives have been ruined here-and the old line "AIM is HIGH risk"-simply won't wash.This isn't just random bad luck,or chance,or like buying a lottery ticket...it us a systematic deception of investors, one long succession of fraudulently and negligently misleading statements ,asserting with confidence that "Brockham is as mature as HH,with richer deposits of oil" and in the words if JTP:-"the oil flows well"(excuse the pun).They conspicuously and deliberately mislead investors over the flow testing also.They stated repeatedly that flow testing would follow prep work,as late as June.However,we have the letter from the OGA dated March 29th stating that "there will he no flow testing".That is an outright lie and act of deceit to.investots.To brush it off as just "how AIM is" isn't good enough and is unacceptable, when this has been an orchestrated deception and defrauding of investors to the tune of 90% of their capital.
I'm glad you agree litigation has "a distinct possibility of success".Investors will.not be "wiped out" if they join our Angus energy investors action group-they will recover their losses.Please email me:
keither197@gmail.com
Joining the action is the ONLY chance investors have of recovering their investment.Balcombe approval will at most push us to 2p-half the previous Brockham price.The market has given a zero valuation to Saltfleetby. There will be more placements before Balcombe or Saltfleetby produces in 2020,which will inevitably push the price below 1p,so you have nothing to lose!
Also,we don't have to go after the company per second, we can take action against the individual directors and their assets, and also claim from the insurers,and the regulators have left themselves open for lack.of due diligence and failure to protect investors.
Please join our action.group Sam!
Is Alan still holding?-it would be really interesting to hear what Alan thinks about the boards technical explanation for the Brockham fiasco. ..
Exactly...they said in a previous rns that Brockham was the same maturity a's HH..so they were either negligent or lied in their statements..either way they have mislead investors ..because they've totally contradicted themselves.
Sageman
Move on?are you serious?'or just having a laugh?
None of us who have lost 80 or 90%,and in some cases millions,can move on..our lives gave been ruined..nit through bad luck but calculated deception
Not necessarily...we can go after the individual dI rectors, who have lied and fraudulently mislead the market..they're worth millions.
We can also sue the nomads and London stock exchange for lack I'd due diligence....JTP''s "Captain America" and Lidsey are just the start!
Also if they do sell Brockham as planned,Lucan says they expect a few million for it.That's more potential compensation for all the investors who have been swindled.