Member Info for SEA7

what annoys me about outfits like gp etc... is that they have no credible plans for the company,have no idea how to run it, no way of doing anything other than attempting to act like big shots and no credibility of their own.

they demand resignations with no real justification or follow up action plan to ensure progress and continuity - these guys are fly by night chancers.

what the likes of these dimbo's seem to forget also, is that this meddling isn't going unnoticed by the regulatory bodies in georgia - they will likely take a dim view of the interference and can quite easily cause far more problems for GP jerseys little band of shareholders, than they can cause for block.

block is furthering the georgians domestic production of its resources to reduce reliance on imports - forest and co are adding to delays to this - they will be sought out no doubt for discussions, if they continue to make trouble.

when forest and co lose, they will sulk and may even dump their holdings.

and the concert party would no doubt have insisted on numerous studies, meetings, discussions, fact finding missions all invoiced to the company by their associates, which would deplete the cash balance.

as you can see from the notice - the shareholder group wanted the board to actively defer drilling, which would mean delaying plans and creating more negative sentiment and reputational damage to the company - which forest would then blame the management for this delay.

forest and co are making trouble, nothing more -and are acting like petulant little children instead of astute investors - what they are forgetting is that we have long memories and these individuals are tainting their own market reputations - still, if that doesn't matter to them, so be it - they will struggle to get future deals over the line in other areas and will be seen as pariahs

The Shareholder Group then demanded the Company defer the drilling of the current WR-B1 well. This action would have left the funds raised in December 2020 dormant in the bank and have been against the mandate given to the Board to undertake the promised work programme. In December 2020, 99.9% of voting Shareholders, including the Shareholder Group, voted in favour of resolutions to support the fundraise directly related to the work programme. Having assembled a strong team of international and Georgian professionals, the Board disagreed with the Shareholder Group’s allegation that the Company lacked the technical and operational capability to execute the drilling campaign safely and efficiently. Having ensured the adequacy of the plans and received independent assurance of the capability of the rig, the Board instructed the team to spud the WR-B1 well, which is now underway and expected to reach target depth in August.

The Board also resisted the Shareholder Group’s proposal to appoint a member of the Shareholder Group as a director of the Company, subsequently preferring to engage a specialist recruitment firm to provide a list of candidates from which the
two independent non-executive directors were chosen with the aforementioned member’s participation. After these efforts to cooperate with the Shareholder Group, particularly their demands for participation in the share placing and the appointment of two new non-executive directors, both met as recently as December 2020, it was a surprise that two months later they demanded the resignation of Paul Haywood, the CEO, as integration of the ex-Schlumberger staff and assets were in full swing and the preparations for drilling had begun. The Shareholder Group complained that the Company’s share price had dipped below the most recent placing price, but did not offer an alternative strategy. It was, therefore, difficult to understand what they wanted at that time.

https://www.blockenergy.co.uk/wp-content/uploads/2021/07/261684-Block-Energy-Notice.pdf

because it shifts the focus of the board to this drivel rather than the drill bit - the progress will slow up, the share price will fall, retail players will desert the stock, others will walk away and GP and co, will install their people on the board and walk in, ready to do whatever they want.

yes- forrest are being stupid.

if wrb1 comes in spectacularly then they will be seen as a meddling child that is hell bent on wrecking a good thing for their own spite because they cannot get their own way and they will have lost support for their cause.

if WRB1 doesn't come in, then forrest will be blamed for distracting the boards focus from the drill to a puerile fact finding trip

forest will no doubt be glancing at sites like this to gauge sentiment from retail players, who could quite easily be a threat to their plans, if enough vote against.

perhaps they would like to justify their reasons - you know - "we have called this meeting because..."

not just the standard BS in an RNS, an actual explanation in public and transparent - if they are accusing the company of being opaque, then they need to be as transparent as possible, to support their stance.

so come on then forest - start talking. we know you and others monitor these boards.

market players have abandoned gold and the miners, because they feel that it is a risk on environment, with covid restrictions being lifted and signs of things heading towards a sense of normality.

Meanwhile the gold price itself has remained higher than pre pandemic and the miners are having a field day, with balance sheets that look far better than they have ever done.

What does this tell us...

miners doing well, balance sheets strengthening, sector out of favour, stock prices hitting lows and inflation building- this is the sector to be buying now.

When the tide turns and it will, there will be the dash for cash, all will be sold off, however, gold and the miners will be first out of the traps higher.

look at paf - the debt reduction is nothing short of spectacular ..down from well over one hundred million to thirty million in about a year or so and likely to be debt free in a few months.

This business is doing well - the stock price will follow soon enough.

Buffalo Oil Field – Geophysical Success Under Big Bank

https://www.tandfonline.com/doi/pdf/10.1071/ASEG2001ab099

may only be 17 people, but how does that impact those around them who depend on them doing their jobs, to enable others to do theirs.

https://www.bbc.co.uk/news/uk-england-lancashire-57888048

Rolls-Royce Barnoldswick: Fresh strike action amid job cut fears

lol

however, no proof- they had cases on a cruise ship where they only permitted those on board who were vaccinated and had provided negative tests before boarding.

the vaccine is doing its intended job - reducing the likelyhood of serious symptoms, hospitalisations and deaths - that is key to opening up and returning to normal - the number of cases is likely to become irrelevant soon enough, as well as transmissability - reduction in seriousness of symptoms and deaths removes the pressure on the NHS and removes the need for any covid measures.

as indicated by those figures of positive cases and still rising in vaccinated - the jab doesn't prevent you from getting it

you will note newby, that 15537 is 47% of the two figures added together in my previous post

newby ..here is one article...dated three days ago..

A weekly update from the ZOE study at King’s College London, said there were currently 15,537 new daily symptomatic cases in partly or fully vaccinated people, an increase of 40% from 11,084 new cases last week.

By contrast in unvaccinated people in the UK there are currently an average of 17,581 new daily PCR-confirmed symptomatic cases of Covid, according to the ZOE figures, a drop of 22% from the week before.

But he added: ‘In the UK, new cases in vaccinated people are still going up and will soon outpace unvaccinated cases.

https://www.pulsetoday.co.uk/news/clinical-areas/immunology-and-vaccines/gps-and-data-indicate-continued-rise-in-double-vaccinated-covid-cases/

newby - this is nothing to do with hospitalisations -

it it to do with positive cases being recorded, nothing else... this has been reported in several media outlets from official sources - just google it.