Member Info for rongo

their bath water would be like Goldilocks first plate of porridge. the rules are quite clear knowledge used to or by to advantage selected shareholders that has not been made available by way of company release is insider trading ,best put in a written complaint to the relevant authority if you have the names...the nomad should be able to assist as they are the sponsors of this zoo.. -- Note to Gerhart, if you are hell bent on dividing your money again by 4 go in at a penny you will get all you need.!!

in the last week there has been approx 15k GBP done in Kea, that's not race away support as I know it, and then divide by possible dilution if it ever happens,is that Dr Ian.

you only have to look in the directors deals in the last 12 months (although this information could be pretty unreliable in fact as nothing has changed much for the better) , to note how much faith the directors have placed in the beloved company. the reason they can monitor the bidding process is so they can pull it if there are no bids and save some further embarrassment, the likely hood of any of the directors placing a higher bid than any other bidder is absolutely nil,and on the off chance one /all/ they had been drinking at a board meeting and accidently did lodge a bid isn't that insider trading with them having the benefit of undisclosed knowledge not released to market.. very much so !! we are on our own again.

don't mean to be to negative again but am trying to outline the facts here for all , puka 1 and puka 2 need the oil price at the 75 dollar mark for a margin, it wont be 3 million after expenses if it makes it that far,a profit on paper is fine but with the skinny market in Kea how do you materialize that into cash when the average weekly sales only manage a couple of thousand quid. Abodong and Jimmy are only going to buy 20k worth between them on market and that's at the top end of the buying if it takes place. sorry.

Abodong/Jimmy fill your boots while you can that's all I can say seeing you are in love here ,the ramping in progress albeit just a couple of thousand GBP so far is just a mechanism to suck another bunch of unsuspecting investors to a situation that has nothing to offer but it has heaps of appeal for the management and the board because the monthly pay check and expense account will be maintained.. amazed the cost structure hasn't had at least a trim to date so this reeks of arrogance in it self. show us you can do it go on the buy for 20kGBP,that will work to get the 3 mill if that wont nothing will, its a pig put it into First Quantum Mins or any other company for that matter instead ...

rere , unfortunately I have to say there is a deep trodden trail of now ex small oil companies in this region that have burnt up all the shareholders funds and along with funds of unsecured creditors, broke and gone forever, most based overseas London and Canada is where they seem to congregate in mass. the old Crown minerals were sucked into the hype and garbage for political reasons its just another replay looming up there again. more suckers on the horizon...don't be fooled.

todays question for viewers , how many trades at these levels to claw back 40 million GBP, answer quite a lot.!!. S/P nothing unexpected here guys, as you know if you want to raise 3 million GBP your share price has to be higher than the offer price so this little bump has been expected so the unsuspecting can get bundled in here thinking they are on a winner and all for the princely sum to date of a 1000 odd quid.3 million quid for 1000 that's quite a good return, oh yes and just remember there are the undisclosed fees to be deducted first.. and most likely plus the cost of the Fokker to sea Coral.

the way the BOD operates the fold of the company and the mess behind wont look any different to what S/Holders have been subjected to from them to date,IGS can start another conflict in the Coral sea,( incidentally I hear that Coral is the name of his extra surprise new Kea well after Shannon ). 50million way out there in the middle of the Coral sea wont buy much ask the Japanese who went into Fiji to build resorts and at least there had some infrastructure like a wharf, looks like a lot more loads of Fokkers looking to unfortunately get a rough ride if Kea is anything to measure by.

we are on this subject of placements, there was 900 odd million on offer before the last consolidation 10 to 1,whats going to prevent that same senario again ,at least the new guys in will help share the haircut.!!

IGS became manger of the Kea Group we have watched shareholders equity disappear with one bad decision after another ,in complete support of this disaster, (poor supporting actors within as that's all what they have been) extremely poor execution of the few projects the s/holders have funded. lets not forget to mention the poor old JV partners who have been beaten up alongside them also for millions of dollars. in todays financial environment where every dollar has a value which needs to be replaced with each one spent plus some this track record is not by any means a solid foundation to attract future partners to pay to drill Shannon .personally I would not send any of them into a bazar to buy a bag of onions..the truth is recorded in history of this sad sad example....

guys, for starters IGS would not have a liquid half a million quid and couldn't raise it at the present time so that option is out the door,now 3GBP million to drill a well, settle their legal battle, the rate they get through it in head office that would hardly complete the paper work for the consent process required if their track record is any thing to go by.i like all the banter in the latest RNS of what the companies share would be if all the hypothetical numbers play out but alas still more banter the way the illustrious BOD are promoting them once again. Shannon will cost in circa of 15 million NZ dollars history tells us that from the last 2 encounters with a drill bit. i am not an accountant but how can that work if you only have 6million NZ and you need 15, MEO would be up for 30% so its still short 10mill.spending on Puka to get it operating again, it wasn't economic before it was shut in producing 40 bbls per day and the oil price isn't 75 bucks, they are using production figs of 30 dollars that's not an accurate expense if their past a/accounts are anything to go by. the companies problems have not gone away they are still sitting round the board table, this latest release is further proof of extremely poor judgement. nothing is going to change. I don't buy this at all.

perhaps someone send an email to the BOD and the managing director or CEO of Kea Oil and Gas in New Zealand, that's Ian Brown now I think, if the system is working he should be in the prime position to give an update seeing IGS is unable, apparently the claim is I hear that they are a stand alone subsidiary as is Kea Exploration and the major source for funds (Kea parent) has nothing to do with the management, yeh right, what are they saying here.

thanks for that shakey that is very clear the BOD should have you do their releases , all I can say is yeh yeh yeh ,from the horses mouth (IGS) we have heard it all before with such enthusiasm and unfortunately nothing of any substance yes phase 1 and then phase 2 , Beluga, Douglas, Puka, Makau,Shannon Mercury ,Ensign Methanex and any I have missed,production shut in shut out, faulty seismic, more garbage to come no doubt. isn't it about time they gave up wasting cash on a hopeless situation and came clean for the first time in the history of the company since IGS has been in control.

well if you were Methanex you would have to be pretty jolly annoyed being charged half of 15 million for a supposedly 3000 odd mtr well at mauku when if they can get 2drills for 7.5mill with MEO.. something not right here, back to management for an honest explanation. what did douglas cost in time and money by comparison when it was drilled by the drilling company they sacked.. something still not right here.

correction, just had a look at the previous well costs it would be way over 15 mill the way the last wells come in

there is little value in the management structure of Kea the way it is, you have a good point about the AIM listed company and there maybe some value there,but trying to arrange 12/15 million for the present management to drill Shannon is just too much they are not capable so who would risk their capital again with them.no one I know of.

i can answer that question you ask, its because they aren't stupid they have witnessed the chaos for the last couple of years and as you know all investors need and rely on the security of their project capital with an expectation of getting it returned with some premium for the risk involved. you summed it up if Puka did have oil able to be obtained and sold economically with a handsome margin it may make sense but it don't that's why. only chip is a chip butty

I don't think there is any or enough energy for any sort of one last rattle, perhaps like the Puka wells just enough for a little quiver around the BOD looking for a spine to run up for its last horraaaaaah.

don't be too tough its only been a month since the last peep from IGS and what's left of the board ,perhaps the strategic review has thrown up assets they didn't know they had, it must be a lot more complicated to liquidate something than try to keep it going if there isn't any cash in the tank and there isn't a good track record of management here anyway .. silence isn't golden for the shareholders ,far cry from days gone by when every little useless detail was shared with the market, or maybe the BOD have forgotten that there is still a company listed under their care. I know, they could be still busy finishing off the Easter eggs that explains it and will get back to it sometime later on if they remember.

no egg,no cash,no oil, no plan, no help.no value I think that's how it works, one would have thought by now if with the limited assets held by the parent it would have been a 5 minute job to work out what to do for the value of the remaining shareholders , the silence is very cruel, I think I hear munching, maybe the BOD are eating all the easter eggs.