Member Info for regvarny

.......theres a pie and pea supper on Fridays.....remember to wear your thermals..... Reg

.......they can join the rest of us and Directors....huddling together at the Sally soup kitchen......Merry Xmas Everyone.....Santa Reg

They will be mortified.....Reg

My take......when MetalNRG agreed to buy a controlling interest in Sunswept/BritNRG.....PR interest in business should not have become important.....because MetalNRG would have control......Where this has fallen down.....is we chose to pay for asset later with our shares......thus leaving previous owners in control of profitable business......Metaphor.....you agree to buy a 50% share in owners home.....meantime property price increases......and owner decides to keep it......Reg

Hi Pete.... top of the morning to you mate.....its safe to say.....if we had control of BritNRG we would not be in this position......What I would like from Rolf;..... is a trading update.....our current equity position in BritishEnergy.....its revenues.....and dividends payable to us.....I would also like to know if we can legally win our case against PR.....Reg

......Come on lads lets huddle together.....with Rolf at the local soup kitchen......Whats tuppence......I spent it on a one armed bandit.....lol....Reg

.....Merry .Xmas Pete....how you doing .....ATB Reg

.......the hard facts are......If legally we cant stop BritishEnergy Ceo PR from honoring deal.....by accepting our shares.....in exchange for a controlling interest in company.....We can only look on .....Reg

Roadrunner......yes this goes back to the creation of BritNRG SPV......where Sunswept holders owned majority of equity......before MetalNRG could invest £450k value Convertable loan notes in three stages.....as payment for its half share of business......So effectively BritNRG/Energy Ceo PR has seen the cash flows coming in from business.....has control .....got greedy......and is refusing to accept MetalNRG payment......therefore denying us effective control.....The question is can we legally stop him......lol Reg

.......Further......PR shareholding could have been kept secrete.....Why has it come to light now....Does he want to scupper deal......or has outside due diligence brought this to light......My view is no one wins in this current stand off.....Reputations are on the line......while shareholder value is needlessly being destroyed.....My message to Rolf and PR sort it out and quickly.....Straight talkin Reg

.......MetalNRG confirmed it had completed.....technical and financial due diligence.....which was deemed satisfactory.....and is now finalizing a share purchase agreement to acquire the privately owned company Sunswept......MetalNRG is acquiring the company via a SPV.....50% owned by MetalNRG.....along with private investors who will hold the other 50%.....At board level MetalNRG will have the casting vote......20/1/15 MetalNRG announced.....extensive due diligence which included resource reappraisal.....realignment of critical working arrangements and.....SPV BritNRG acquired 100% of Sunswept had completed......IMHO.....with MetalNRG holding a casting vote.over BritNRG board.....Then surely the situation we find ourselves in......must be a technicality.....ie PR and his proxys......holding more of Sunswept than previously thought.....Therefore requiring approval from MetalNRG shareholders......Conclusion......looks like PR wants to use this technicality to scupper whole deal......Reg

Questions need to be answered about.....BritNRG or is it BritEnergy planned float next year.....MetalNRG have said flotation of BE will cost £250k....Indeed ....is it possible..... BE could be sold or floated with BE directors under litigation?......Simple answer is no.....So rapid resolution is required from both sides......Reg

Main points;.....MetalNRG are still minority shareholders in BritNRG.....less than 50%.....Due diligence was done.....Rolf and fellow directors still have major holdings in company purchased at much higher sp.....Talking about making further investments.....so cash flows must be coming in......Conclusion......I personally felt sorry for Rolf......but feel BritNRG dispute will be resolved quickly and successfully......Positive Reg

More Gold Ridge public domain site maps dating from 1940s.....have been obtained.....containing data on Gold Ridge and other little known mines on 100% owned MetalNRG property......These maps will save company expence and time,,,,,be incorporated into the Gold Ridge geologic structural model.....Geometric soil sampling will commence over 75m grid spacing .....of south eastern part of property where most historical mining has taken place.....To be completed by end of Q1 2022......Conclusion .....the Gold Ridge assets were valued at $20m back in 2005......with Gold price standing at £1374k per ounce......Rolf only needs to bring in partner.....to cash in......Reg

......recievables are turnover......so 1m in Q2.....possibly more in Q3.....and PR only resigned from the MetalNRG the board lees than a month ago......Conclusion something has brought PR holdings to light.....possiblya party ....interested in takeover of BritNRG assets.....Dyor.....Reg

.......well MetalNRG financial position is better than most investors previously thought......ie In the last quarter results.....we had £1m net reciievables.on balance sheet.....It is my view .....this could only be accounted for by oil revenues......Whats better.....I would expect similar recievables for this quarter.....The minority BritEnery shares we own .....may be due to the recent £112.5k value Convertible loan Note share issue.....On conversion.....this would effectively give MetalNRG a 3.5% shareholding in target BritEnergy.......Conclusion.....this may explain the threat of recission.....and will bring all parties to the table......Reg

Theres only one word to describe the current situation we find ourselves in Grand Fraud......MetalNRG vehicle use £4m of our shareholder funds to acquire 50% of BritNRG......Then we are told this morning by Rolf Gerritson we dont legally own it......An asset which could be making revenues of 5-7n by next year....Rolf goes on to tell us..... he is only seeking our intial £4m investment back....What does he take us for suckers.....Looks to me like MetalNRG have moved our cash......to an asset controlled by what were MetalNRG Directors.....Indeed they have milked MetalNRG shareholders dry......and affectively own 100% BritNRG.......Shocking!......You either own a house or you dont.....Rolf Gerritson....has questions to answer.....Reg

Money.......Whisby production could now be approaching 300 BOO per day......with 1m BOO recoverable at Newton Trent.....The later would need investment......I strongly believe..... MetalNRG could be tempted to cash out now for say £20-30m at current oil price......Its quiet......too quiet.....I fell a deal is brewing.....lol Reg

.......further......I would guess......with oil......we will get excellent production figures from Whisby.....coupled with proven recoverable Newton Trent reserves.....and Gold Ridge.....higher Gold mineralization assay reserves found.....in MetalNRG January winter assets for sale brochure......Reg

Money......Rolf is an asset manager by trade .....Therefore.....MetalNRG business model will mirror that of Melrose Plc or a Hanson Plc of old eg .....So all assets in portfolio will have a price at which he would ultimately sell.....Rolf will search for undervalued assets with near term profitability......put in the minimum investment required to turn them around ......then sell on quickly.....for maximum shareholder return......So my hunch is right now.....at current Oil and Gold prices.....these MetalNRG assets could well be on the block......for something north of £30m presently......BritNRG Ceo PR abruptly leaving the MetalNRG board....with little news to why....looks like a trade sale is coming down the line......Asset managers dont grow businesses.....they max the value out of a business.....and sell.....Musing Reg