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I think it's a mistake to look at revaluations in p and l as one offs. Effectively the company is a property developer that doesn't sell. Whilst that goes on, asset value goes up untaxed. There is more building going on so whilst that happens, I'd expect those warehouses to be revalued when they deem it appropriate. So I wouldn't be surprised to see more revaluations a

Probably same as the rest of us......the shares are worth 15p a share in assets alone, improve the oil production maybe much more

Can someone explain please why there is such a big mkt cap yet nearly no volume - and CEO spends 1 million without affecting the price?

Any take on the results Acton? Looks like work in progress still to me. N2 we still don't know - acidizing I gather can be expensive. My googling shows me there are 2 types, matrix and fracture with the latter being quite a bit more expensive

I think we can just hope the delay is down to equipment etc.. Does this CEO spend any time around the wells or just sit around his office?

So now the well is dug what is the process to get the oil out? Is it hard to get the equipment?

So it seems is the market......not a single share traded. Not sure if that's as no one is selling or the original enthusiasts have run away and no one knows about this share

Some positive news at last with successful well Workover. Let's hope the good news continues

He's been rewarded for all that work with 1.5m shares......I really hope this time next month we all think that was money well spent .. . .

That's a good point about Fairclough. I'm not sure what great financial skills are required here - they need to manage costs above all. I think big bucks shld come from big successes, not regardless. The SP is so low that someone who came in with some out of the money options Cld do very well if there were even a small turnaround. I get the feeling you'd be good at the job Adon!

Some very interesting points Agricore.

1. I didn't understand your point 2

2. On Romania I suppose there's a chance that the govt will reduce the super taxes that make it uneconomic.

3. Cutting costs seems to be the way. Auld looks a bit too grand to do that though - in that online interview I saw a while back, he came across as quite self-satisfied and pleased with himself, although it's hard to judge from a video alone. Maybe you shld give Hadron a call and apply for the position (Incidentally I tried to get him to come up with some costs of the sideline pipe at the AGM but he wouldn't be drawn or even give a ballpark).

Given Net asset value of 25p a share and a promise of cash coming in from an oil lift shortly and financially next qtr shld be better, I'd have thought this was cheap now.

I can't see Hadron doing that. More likely this is a fraction of a percentage of their holdings so doesn't come up much on their radar so maybe someone needs to speak to them?. I don't think ultimatums do much good if someone doesn't have the skill set. What I am trying to understand is what has gone wrong, how much management are to blame and what better management might have done. The set up is clearly wrong - huge salary regardless rather than huge salary dependant on results. Management can't be blamed for super taxes in Romania. Dry wells also happen - wld better management have made them produce? (Question not a statement - I don't understand enough). They presumably shld have had a plan B lined up in Tunisia in case of junk at the bottom of the well, which does happen despite protestations it shld have been on record. Anyone here offer some actual analysis (not just whining please)?

The interesting thing is 75% did not know or cldnt be bothered to vote at all and those that did strongly supported management. So who are they? My guess is that Hadron Capital have spoken to Auld and he's convinced them that the next wells will work out. Lots of people whining on this site but no one offers any suggested way forward with specifics. If you want to replace Auld who do you suggest he's replaced with and what will they do?

Given the votes at the AGM it would seem that some big shareholders do support Mr Auld. My take was he thinks Tunisia will come through. I hope he's right as if it does eventually, then it's a game changer.

My take was that they're not planning on raising money in the next year (ie no dilution), they think a sidetrack will work on one well in Tunisia, and the other will work. Also records gave no indication of the junk at the bottom of the well which wld suggest they weren't totally incompetent. So if that works out then the company should do well

Any predictions here? It's got assets of 25p share but bad performance. Will Auld be voted out? Will he have a winning plan? Was CFO forced out? Share price up or down come 1400? Winning prediction gets a gold star

If so wld appreciate a report please!

Anyone an opinion on this? Resigning the evening before the AGM?

Anyone got any sensible questions for the AGM? Seems the meeting is online which is better than going off to Jersey.