RE: EL19 missing post3 Feb 2023 09:04
A precedent was set at the High Court hearing, when our BoD tried to stuff ordinary shareholders and gift the company to their mates for circa 1p/share. Justice Antony Zacaroli was quite clear in his summation, that he didn’t accept the beyond useless/criminal forward projections presented by Mari & Chaffe etc, that we had no chance of meeting our targets, clearing debts et al, over the coming year. And now the BoD arguments at the HC, with hindsight, can be seen for what they truly were…a complete scam attempt. They continue to do nothing positive our BoD and the thought occurred to me a while ago, that they may be waiting for our single well to run dry/become unprofitable and then once again, try to gift the company away for their own gain. They have a couple of problems heading their way if they try this again though – firstly there is much more oil in the sandstone on Lancaster than in the fractured basement…so why don’t they focus their attention on coming to an agreement, that enables them to extract it...we have the financial resources now to at least triple our monthly income by doing so..and the flaring issues etc can be managed with a little bit of thought and application. The main thing our BoD need to be fully focussed on though, is that if they try to scam us s/h’s again, then they are putting themselves personally at huge risk, as following the HC precedent, if they try another such scam, then their own personal assets are at risk, as they can be sued in the Courts personally and all the millions they have pocketed from HUR in recent years will be lost. If they read this and don’t grasp the importance of their future actions relating to us s/h’s, then I would strongly suggest to them that they take legal advice on the matter, as like I’ve said…another attempt to rip us ordinary s/h’s off, will be the equivalent of them shooting themselves in the foot. GLA