Member Info for Smellyben

Ilovesushi - where did you get the announcement of 2000 barrels a day for 2024 ? I can't see that anywhere?

No idea what you mean by putting everything on the line ! We force an egm with a resolution to appoint a new CEO of our choosing who would be actually look out for us - how is that risking everything?:if it suceeds we will get-a board who will act in our interests if it fails no difference but at least we tried

The jv is dead and they probably won't be able to name who it was with - not sure why that would help in any case.

They must have had a contingency plan as it was always possible it would fail so I want to hear the new plan that they promised BY YEAR END - if not we need to take action or we deserve to be shafted - we only need circa 45m shares and Mr Gooze has 20 m of those !!

The directors must call a general meeting if so requested by the holders of 5% of the voting shares (or 5% of the voting rights if there are no shares). (The figure was reduced from 10% to 5% by the Companies (Shareholders' Rights) Regulations 2009 (S.I. 2009/1632), reg. 4(2).

Then we need to organise an egm to get rid of some of these directors

It also cost more than the current market capbof the company !!!!

Yes it will be subject to shareholders approval as they said in the RNS and it makes no sense to announce it will be completed before yearvend if they wanted it just after - let's face it something has delayed or derailed this sale and the company has not updated us as it shoud

Then why is everyone saying production is down ?

What is the latest production? Is there a link as I can't see an RNS ?

Hi everyone

Loads of posts saying production down but I can't see any official stats - can someone post the link to the numbers???

Why not both !

Maybe - hopefully more !! Buy even if it does the CEO has hurt his credibility by missing his first target

But I thought they have the option to pay the interest portion in cash rather than shares and they have 45 days (? Please check) to do it

Could be Mr gozzee

If the Board don't give us full information on why the talks broke down - was it valuation, reserve levels, management dispute or whatever then its time for us to try to organise some kind of shareholder action before itbis too late

Yes but they said before year end - twice and recently - and they will have failed - dont want to be pedantic because it could come Monday morning but trust is a key part of whether to invest in a CEO - in the past I've been in Kefi, Prem, EUA, IOG and COPL where the CEOs promise big and fail time after time - big flashing red light if this isnt done next week (PS I have had a few good ones as well!!!)

I remember that comment from Harry that finance was days away -i bought in heavily then but he has lied and lied again that is why the market never reacts to any of his statements no one believes him.

At the time there was around 400m shares and we owned 40% of Saudi now there are 5 billion shares and 25% of Saudi

People posting estimates from Harry as some kind of proof it will happen need to look back at the many mistrust and take with a very large pinch of salt !

Well I for one am very disappointed that the transaction will not now complete before year end - a deadline the company set for itself and reiterated a few weeks ago.

I've been burned before by AIM CEOs missing deadlines and given this guy is brand new it is not a great start to his tenure.

Of course the transaction could and probably will happen but setting expectations and meeting them is an important part of a CEOs job to build credibility in himself and the company and on that he has fallen at the first hurdle.

In the company's last investor presentation - it was also disclosed as a note in the last set of accounts

Tomorrow or friday only days left to complete this year !

Any info on what interest rates they charge for similar projects recently?