Member Info for rongo

lucky is all I can say if you have missed the bidding, some of you guys cant take a warning on the Kea management still beating away hoping for a miracle ( Wikipedia -- not an event explicable by natural or scientific laws such an event maybe attributed to a super natural being, --)" that ain't IGS" and his team of train wrecks that will/can turn the doggy doos management into lovely bee's honey.. too drill the Shannon from surface is going to take a heap more cash than they are hoping to muster (approx 15 million to drill based on their last several failures ) and its got to be from surface as the casing set in place in the Puka wells is unsatisfactory in its present state not robust enough in the ft/lb's and cementing quality for the extra pressures and temperatures. just no way known they can re entre these wells safely. this approach by them is most unsatisfactory when the industry on a global basis is trying operate in a safe and professional manner in all aspects of well control .

Ian, Ian, Ian, what are you saying here mate, poor old contractor taking it in the neck again and it not if you haven't had issues with just about every contractor you have engaged since you become the chair of Kea, Ian ,Ian ,Ian, seems that you don't know exactly what happened at the well, that's nothing new though, every day occurrence in the Kea camp. Well let me expand, a simple little exercise developed into a catastrophic fail (Wikipedia -- a catastrophic failure is a sudden and total failure which recovery is impossible ) -- but you are no stranger to these they follow you every where you go, the correct version from New Plymouth NZ is the wax cutter is jammed rock solid in the well surrounded by wax,fishing has proved futile, bit of a major problem here, looks like the best and cheapest course of action would be to drill another well along side the existing well and start over this time drilling a larger diameter well to alleviate the problem of waxing something that should have been done in the first place.. this prognosis shall be free to you and the company, as I know you wont and cant pay at the moment...Shannon I love you dearly,please come home.

the BOD must all have been at the pub, that's why it was close off at 5pm and cant release till Tuesday not that any disclosure will come as any surprise from these guys as no one can believe anything they say now other than themselves of course . one would have thought in every bodies interests to have it closed off by lunch time and have a nice little release ready on the out line for the disposal of the little remaining assets in a fire sale.. give the buyer time to sell the morris minor on ebay over the weekend to fund the purchase and still have cash left over.

in all the dealing in the stock market AIM and otherwise I have never seen so much hope bought for so little money,all this in the last couple of days for 5000GBP,i better forward this site to David Cameron so he can share it with the masses..this has really got a bomb under it now just wait till the fuse is finished burning , problem is still the management .

I had to go back and read this again,-- if -- what a read,some things are pretty clear as I have said before the BOD hasn't much idea at getting the best out of the shareholders dollar, according to this they were sitting on one of the most attractive discoveries possible in the country and now claim they didn't know it even after spending 20 million GBP, then went on to spend 15mill NZ on a rank outside probability, in some of the countries most complicated and least understood geology. Da_Gee to me this is not managing risk and managing the best use of knowledge perhaps they didn't pick up on this wonderful opportunity. there is a lot of poor management recorded here and it aint going away by the looks of it, trying same old approach looking for a different outcome, crazy.

not long till Friday Robinson ,darn,if they had got the 3 mill it would cover, BOD for another 12 months & office expenses and more travel, plug and abandon any suspended wells, if there was anything left that would go some way to fund the litigation if they could negotiate a deal, which they should have already so the BOD could focus on creating shareholder value, there isn't anything left for drilling or getting the Puka well to get back into production, Farm out looks unlikely as they have dicked everyone they have managed to sucker in so far.15 million for the Mauku well Methanex stumped 50% of absolutely nuts,Shannon is a similar well these guys cant do it .pack your suitcase.

Friday is Dee Day,its most likely pack a suitcase, rere has information that the market hasn't by the looks of his post not a good space to be in for IGS and the BOD...

if you have seen your cash unnecessarily incinerated by bad management, and then the ashes turned into 10% of their volume only to be reinvigorated and expanded by 300% and all for no extra value for the holder of the original stake of coarse you are going to be active to alert the unsuspecting of further danger ahead for the little that's left. I hope they can raise the 3 mill it will cash them up to cover the litigation pending, complete any plug and abandon, maybe another trip to PUKA for a look at what may have been, wont be much left for getting back into production so will spent it on meetings ect. as the BOD look into Shannons eyes and wish for hope,you are looking into the BOD eyes and wish for luck, l can tell you its not on the way...

of all the horror movies Kea would have to rank up there at number one, the sheriff of Notingham would be proud of IGS and his BOD the way they have conducted the demise.

the old Kea CEO chappie, Parkes that friend of a friend IGS installed pretty much destroyed what was left of Kea when he was in charge, now over in Singapore at MORL, lets see how long that can survive.

Jimmy2, are you holding out on us ,you better come clean and tell us what you know that hasn't ben published.Shakey provided a short basic description, is there something he or she has missed. Looks like that Shakey has it very much summed up according to the information released to date or has something be overlooked that maybe important.

IGS hasn't got any money to toss away on this so we cant rely on him as a source of funding any time soon this century , this whole exercise with Kea including 20 million GBP of shareholders cash, not to mention any capital value the company lost has just been an absolute train wreck since IGS appointed that Parkes chappie as CEO..friend of a friend with no idea... he was a sister of Shannon no doubt. there isn't any hope of any salvage here need to bulldoze it off the line and haul on through

why would any group of shareholders in their right mind let these parrots loose with another 3 million after hey have wasted plus 22 GBP to date and still cant get a well close to the good oil, let me tell you they forget the basics, if you spend a dollar you have to be able to replace the dollar in this game, (they are outta control, spent the house keeping and don't have a job) nothing of substance to offer any one thinking of farming in or a JV,if this wasn't the case then they would be swamped with offers. not so.

here is the bet,the directors wont put another penny into this dead parrot or nor anyone else in their right mind.!! if you look back the directors haven't spent that much in actual purchase of shares, 82.5% of statistics are made up at the time, their stats are no different , just a guess on hope.

thanks for the link,IGS is pretty desperate here, he claims it just occurred to him that it was in fact the retail investors who stumped up through the instos for the previous cash they raised and now they need a reward and not the greedy instos,,, give me strength...where have you been hiding Ian .mention of a producing field at Puka ,I don't thnk so its shut in and most likely without serious money spent wont be producing any time soon,and not under the IGS watch as the money they plan to raise is going to drill the Shannon remember and on the way there they are going to find another sub economic messenger well, well done boys.20/50/80% chance,what if I told you the track history will be about 99% wipe out,so much for your penny . you would have to be nuts to put any cash in here.sorry boys games over get real.shouldn't be allowed to peddle , reminds me very much of the old snake oil peddlers out west...

I agree with you, any one else could most likely drill it economically ( you or I) but these parrots have proven that under their management with farm in partners they are unable to contain costs, or manage things with any purpose Beluga and Mauka costs are testament to that so if they were in control, as they are control freaks I promoted 15 million as ball park. dont/cant see them letting go of the money reins if there is a small probability of some extra cash floating past, just yet as there is another month of fees in the bank ...poor IGS speaking of a fire sale of assets worth much more than a million pounds, garbage is all I say to that, the market has placed a value on the company correct me if I am wrong...dithering of a desperate Chairman with no place to hid from the market as Tippity Top will tell you, rightly spot on again TT.

how many new wells have been drilled in the Waihapa permit in recent years, answer none .why, risk and cost...with this much bad luck stacked against Kea to date isn't it time,why not call it a day, more poor decision making by the management isn't helping the prospect of any success...value of 500 million I don't think so some how....yah cant drill a well there for under 15 million if the last performance is anything to go by ,mate you gotta be dreaming. again.

just watched most of the interview with IGS, how much did they pay to get on that show, even the interviewer had to sit through a pretty boring heard it all before speal,she would have rushed out and bought a cup of cocoa if possible. notice IGS has bought a new watch tho. the major risk to any Kea shareholders small remaining stake is still the management..nothing has changed.

present captd value I million GBP, issue 300million more shares captd value stays the same, cant see how that is any benefit for shareholders.capital raising might make sense if it was going to a good cause but it isn't and there isn't a plan moving forward that the company could or can capatilize on to return some value but it will be enough for a few more months directors fees and wages.

sorry mate,you must have known that IGS approves everything right down to the last stamp and tea bag in all his divisions and subsidiary companies , although he may not be a director of these we can only speculate that this is sort of a matter of distance if something goes amiss which we have the present share price to judge that record by...