Member Info for retrosec

Not performance related pay. Just con men at their best. I can see why AD wouldn’t answer the first question he was asked honestly now.

As JB said to me, everything they did was run by the Nomad and legal; so it looks like they were also complicit in allowing the BoD to rip off shareholders.

Thanks for your efforts Jim.

The BoD should be communicating openly with all shareholders. I have tried numerous times to get in touch with the BoD via the phone number on their website with no luck. The last call with AD revealed that the new BoD were clueless as to where the cash had been spent by the previous BoD but surprisingly still wanted to keep JB on the books. Will the full year accounts reveal where the raises were spent or how the funds were ‘legally’ siphoned from the accounts... probably not.

In lieu of all the regular updates we were told would be forthcoming by the new BoD during the recent Tele-CON-ference. Even stuffy has stopped promoting this snake oil.

Well said Conrad. Looks like a lot of people are in the same boat, so agree, difficult not to look back at the history when there are people on this bb effectively telling us to get over it. I’m in the same position with a much larger initial investment and similar b/e point. Looks like we have another bunch of clowns at the helm of this fun boat!

So you shouldn’t look at a company’s history, track record and who’s been involved with it in the past...? Great investment advice Kashdog.

Thanks for your useful input kashdog.... as always. Guess in your day you would have been the class bully! However, good to know you’re adversely impacted by everything I post.

I spoke regularly to both JB and CH and having their direct dial numbers didn’t help. They consistently lied about their plans and reassurances that they were working hard to turn the company around didn’t help. I guess it’s the same with the new BoD.

I will post when I choose to and not when you say I can. Now get back to your tiddlywinks grandpa! :-)

At least PU5 knows where I’m coming from.

When the BoD stop lying to shareholders and start providing regular updates as they said they would.

£1!

So much for ongoing communication. Sure AD said there were going to be ongoing sessions in this period of uncertainty. New BoD as bad as the last one, and the one before that....

On the way up. Back to a decent sp 2025...it will happen long before that! Those who have a higher average, I wouldn’t worry.

Motley fools... well it’s in the name. Their articles are written badly and are just opinion based. Anyone could write for them and I wouldn’t use anything they say to justify my trades.

In relation to your question re seismic, it’s because John buggenhagen was clueless when it came to evaluating the siesmics. He told me and another shareholder that he’d asked someone ‘smarter than him’ to evaluate the seismics. Obviously this was paid for by us, so we got stitched twice..... guess it’s time to get stitched again.

Guess it was a choice between spending to progress the EIA or lining his own pockets...

All spoke about going down the legal route as ARSO were not following the advice of their 6 independent advisors but didn't progress it.

Thanks for your input Kashdog!

I was on the call and know exactly which questions were asked re JB by the same person. Q1 - Where the cash raised had gone. Q2 - Why we were keeping JB on when he was the one that had frittered the case away.

I don't think the response which AD gave was good enough. It sounded more like he didn't know where the cash had gone or wasn't willing to admit that it had been p'd up against the wall. Del boy couldn't have given a better response!

The reason for repeating these questions today.... because JB is still on the books and could quite easily have progressed the EIA last year instead of fobbing us off for a year. We need to get rid of the hangers on from previous iterations of corrupt AST Management.

My initial questions still stand to the BoD. Where did all the cash raised last year go? Why after all this debacle is John buggenhagen still on your books? The company has done f all for over a year now except rip shareholders off. Look at where the sp was in March 2019 when jb came on board and where is it now. Then tell me I’m wrong.

If you were a serious investor you would take account of what has taken place in the past with this company. It’s like the bankers disregarding all the mistakes they made prior to 2008 which caused the crash and doing the same all over again. Common sense really but thought a SIMPLE example would help you to understand. :-)

Please tell all your mates to buy this share too so the sp will move up quicker and I can cash out sooner. Thanks.

He sure has! Rebooted the company and doesn’t seem interested in legacy shareholders or Slovenia.

@Alwaysup

“ As reported on 14 June 2019, the Environment Ministry in Slovenia rejected the appeal from the joint venture partners against the decision of the Slovenian Environmental Agency (ARSO) to require a full environmental impact assessment for well stimulation of the existing wells, Pg-10 and Pg-11A.

The deadline for filing an appeal to the Administrative Court was 15 July 2019 and the partners have filed their appeal.

The decision of ARSO and the Environment Ministry ignores the opinion of the six independent expert bodies whose advice ARSO sought. In breach of EU law, the decision also mistakenly concluded that the project fell within a conservation area and misapplied EU case law in relation to mitigation measures.”

We’ve always had the 6 independent advisors on our side. It’s got us nowhere up to now, but I suspect it’s because the previous BoD weren’t actually doing as much as they were claiming to be doing. I spoke to colin Hutchinson and John buggenhagen a number of times and they both regularly asked what investors views were on what they should be doing. They then just proceeded to do what they wanted and ignored the views of shareholders. If the sp was still at a reasonable amount, between 1-2p in old money, then the approval of the permits would be great. However it’s not and the sp has been decimated by previous iterations of the BoD, whilst the just lined their own pockets. Any approval now won’t get us back to where we should be anytime soon. Litigation all the way i say but we’ll find out soon enough what the current BoDs views are.