Member Info for Retour_du_Renard

All I ask is that the company bring out some clarity around why they raised £12m after hours..

Either they have something specific in mind or it was a cash grab.

The vague 'something in the future' justification just rings alarm bells with me.

Thats' it , no deramps just answers.

SEA7 - This is the point I was making in my original 'Voting' post.

Unless the start to clarify more their current situation then I suspect the could have a rough ride with this.

'freedom to explore fresh opportunities' - Herein lies the problem. How about realising the one you have here first. Why not focus on getting the revenue out of the ground first instead of getting greedy and getting beyond yourselves, making things too complex. AIM is littered with OGE companies that tried that approach.

Yet, they are not investing in storage or infrastructure. Had they announced that as part of the raise then I would have been fine but not even mentioning that indicates to me that perhaps the rates are too top end.

The mystery and timing too the raise (and the fact that everyone and their dog on twitter seemed to know about it) speaks volumes about their confidence in my book.

If they reveal it this week then fine. If they throw the stick and mumble through the GM they I think it won't go down well.

The company did that on Thursday night much to everyone's cost. We'd be at 14-15p by now had they been a little more open. I think people didn't like it , smell a rat and start examining previous communications.

They need 1000 bpd to satisfy the contract.

Sorry. Democracy is based on the truth and a fair representation for all. That after-hours raise was scruffy and they know it.

Now they have gone quiet. When companies pull stunts like that it makes me question all their other comms.

Yeah, those Phases were not RNSd so are barely worth the paper.

AJ - But you are making the mistake of beleving what the company are saying and BLOE have been caught wanting and contradicting themselves.

Hence the saying 'actions speak louder than words' and currently they did an after-hours raise for £12m with dubious justification based on a well that is yet to be proved up.

All I am asking is that Paul Haywood does an interview and maybe we get a clarification RNS with a little more news.

So what then? Another raise to sort that?

AJ - I ain't buying anymore of this until Paul Haywood starts dancing and shows us what he's spending the money on and those WR test results come in .

I can understand raising once you have invested in the storage and put yourself closer to an actual revenue stream but to raise that much and be so vague about it smells of pure AIM.

I'd understand if they said we need £12m to build out the infrastructure and storage but no, this is we need to understand the well a bit more and there maybe, possibly be some other opportunities, here's presentation?

I'm focussing on what has been released officially and not trying to read between the lines here with 'nods and winks' , had enough of that carp with SOUND and look at them now £1 > 17p.

AJW - Did you want me to post of list of all the times Haywood said they were fully funded and list all the contradictions?

That is the measure of the board. Operational success is one thing but it's the BoD's probity and actions that investors should use as an indicator as to wether you are likely to get shafted and if you are going to be kept in the dark.

Spout as much as you like about the potential but you put out an RNS at 18.20 on a Thursday evening and then go AWOL, speaks volumes in my book.

Not sure about you guys but I've just received my voting form through for the GM on the 4th June.

Unless I see some news this week or positive PR, then I'm going to vote against any further raises/tranches. I don't think we've had a particularly satisfactory answer as to what the money is going to be spent on. The reasons given were pre-exsisting and essentially contradict previous funding statements made by Haywood. A hastily updated presentation doesn't cut it I'm afraid.

I hold quite a wedge here and I know other with similar levels feel the same way.

Anyone else in the same boat?

Which makes me think they have gifted the institution before the news flow. It won't be down in the 11s much longer.

Put it this way. They have a general meeting, open to the public in 2 weeks. They are due to release an operational update amongst other things and have been tweeting since doing the raise.

This was always going to be hit a little short term but over the next few days this is likely to move back up to the 13/14p area quite quickly as news is leaked.

That's more about AIM I think.

This is a company secretary, technically a entity compliance role, so nothing that would ever usher in any operational change.

What is does indicate is that Dave Sefton is clearly shuffling the pack and changing faces in the background.

We surmised last week that they are probably the old 'stem cell' workers and BoD members judging by the levels that are being sold.

It demonstrates that the operational re-structuring is probably close to completing.