Member Info for Rickylfc5

Didn't they plan for a new contract a month so I doubt they would announce now - prefer to wait until April to keep up with their commitment

Don’t forget RRE was floated when oil was $29 so conditions have been worse - good times will return

This is not the time to be borrowing up to £1B for blockbuster acquisitions - imagine struggling to pay off interest and debt if oil prices stay low for a significant period. Small acquisitions may be ok but RRE need to preserve cash to see this phase in oil prices through

All these metrics to give the 2 Directors additional free shares worth around £900K at today price whilst Shareholders could quite easily have little (or no) real benefit. Why don't they keep it simple and give them options (10 million or more would be OK with me) at at price of 40p - then we would all be aligned!!

Good summary Specky - I am looking to invest here but not sure how much further the SP will decline. I would also like to see an update re any impact of the Corona Virus and I would also like to see DC align his large salary with SP performance (maybe take shares as a part salary sacrifice??) I doubt I will get all of my wish list - I will contact the Company for an update about current trading.

No RNS today - no move on a takeover of Shell - AC must be planning something with all those Azer revenues

No update - Dan is probably at the Champagne fuelled mining conference in S Africa and when reminded that an update is due he waived the PR person away with a flick of the hand ‘they will have to wait’

AC is totally deluded - he thinks he is running a international oil Goliath spanning many continents

Why do they have to leave it until the last possible day in the month to release the outlook - should we be concerned??

You simply can’t trust AC, this is a dog
Zero profitability from any of its operations, missed every production target date, committed no heavy dilution (back when there were just 100 million shares issued) - I can’t fathom why he has wasted so much of his own cash though

They are only 10 baggers if bought now

Sorry misread on my phone the one off was the previous year

Also £1.6 million was a one off - so what happens this year if they can’t find another one off

Not good - DC lifestyle Company, no mention that he will reduce his excessive pay running at 10% of Revenues!!

They could have handled the cash generation alot better - They should have said that the Company generated $20m (or whatever) from operations and used $5 million to pay down debts $x million for substantial reduction in payables, $y million for Capex etc etc - they just left everybody guessing. Same old DB problem - a touch or arrogance about what he is prepared to release or do to appease shareholders

CRB - just a basic accounting lesson - you don’t deduct Capex from profits

Watched this over a number of years and wouldn’t trust AC (apologies to AJB who had been saying this all along) his failings and misleading predictions include
- Numerous targeted dates and misses for 1000 bpd
- then on to 3000 bpd
- Many predicted dates missed for new rigs
- Missed dates for new drilling campaign
- Predicted £1 share price
- Predicted 20p SP
- Minimal share dilution planned (shares issued went from 100 million to 400 million)
How they will get the rag bag of assets (all consuming cash) to perform is beyond me and they have over $12 million of liabilities due within 12 months

AA has 27% himself and buy backs would take him over the crucial level of 30% whereby he has to table an offer to buy the whole Co - that’s why he won’t buy more back

I think RRE would do better if they did a 1 for 10 share split meaning that the current share price works out around £1.70. Its only a psychological thing but I think some investors are put off when shares are in the £20 + range

Has a TR-1 been issued?