Member Info for steve58

Not sure when the seismic money is due.
That will have a bearing on things if they want it all upfront and they have to tell them to wait.

Agreed.
They have had over three years.

One screwed up deal.
Disposed of assets with little of the proceeds actually being used to enhance shareholder value.
None in fact.
Millions paid in fees for little benefit in return.
Mustn't forget the name change which took about a year and probably cost a fortune.

They were supposed to turn the company around.
They have in fact sold off legacy assets spent most of the proceeds on fees on an aborted deal and a piddly little asset. I'm thinking that maybe most of their time is being spent elsewhere.

Unless something is done big time in the next few weeks I think come 2022 there will be a few jobs up for grabs.
To be honest the board came with all the credentials plenty of talking, however that about
sums up the last three years.

Not very promising
Seems your talk to the board just went in one ear and straight out of the other.

The board are brilliant at spending millions in fees .
Trouble is shareholders get little or next to nothing in return.

Morning Chris.

Seems the board are back to normal.

Complete silence.

The sp is responding accordingly.

Regarding your post covering Africa in solar panels.

30.37 million sq kilometres.

Costs £10k to do the side of a house.

Think they may take a rain check on that one.

Maybe everyone can have a small panel to light up their front porch (not many of those in Africa).

Right there.

Maybe they should have changed name to soslo.

Could Wentworth amd aminex merge then buy us out. The combined company would then have 50% of Ruvuma and over that in kiliwani North.

Maybe they could take the remaining stake from the zubairs and develop it themselves.

As I keep on saying anything possible.

Morning Chris.

As I have said in my previous post.

Interesting appointment just before seismic.

Maybe they want our share and then do a tie up with them combined 50% stake.

Anything possible as usual here.

Ex aminex ceo at Wentworth.

Something brewing!

Not sure if it affects potential ruvuma value but LNG price up 100% in a year.

So if weather favourable may as well get the seismic done. As you have said many times this should increase the value once results in.

So could be sooner than we think.

Maybe a major gas company will come along and just buy the whole lot out.

I'm sure the zubairs would take $100 million profit save the additional $100 million expenditure.

Cove had an offer they couldn't refuse and that was offshore and still not developed as far as I am aware.

We live in hope.

If they don't sell then their so called new strategy is in tatters.

Saying one thing and doing something completely different or nothing at all seems to be the way forward here.

Of course I may be completely wrong and that elusive rns will drop tomorrow morning

That's probably what will happen.

I'd rather it be sold sp to be 2.5 to 3p.

Give many the chance to get out.

Need about 6 to 7p myself but very tempted to sell up and look elsewhere.

There are not many companies paying huge fees for next to nothing.

I assume the aborted deal was all arranged and probably due diligence as well by them.

We certainly didn't get a refund on our fees.

As many people have stated the whole set up has not looked right since the new board arrived.

They have constantly failed to deliver giving shareholders one excuse after another.

The end of another eventful year is coming to an end soon. We have had a puny little deal and a name change. If anyone else can think of anything else the board have actually done this year I'm sure we would all like to know.

Interviews have dried up their strategy seems clueless our share price is hopeless and our board are ???????.

Afternoon Chris.

What Frank did was very good.

Just a pity that is all seems to have been in vain.

I think a good roasting next time.
As for the stuffing.
Where did that onion go.

Maybe an early Xmas present for shareholders here. As many are saying their loyalties seem elsewhere. Another company making hundreds of thousands out of us while we lose millions.

Agreed.

Very disappointed with the slow if any progress by the board.

Strategy seems to be all over the place imo.

Regarding their plans we should be grateful that there are only 26 letters in the alphabet.

Maybe another phone call is needed. Hopefully someone to answer it. Could always try the London number if you get my drift.

I sometimes wonder if they do in fact have a strategy or even have a clue what they are up to.

Four years one failed acquisition and one so small it is hardly paying any bills.

I remember many years ago I held about 12 million shares and had my finger on the sell button for about £156,000.

Instead I now have about a tenth of those shares at 1p and that after a 20 to 1 consolidation.

It is basically the same investment but worth over 90% less. How I wish I'd sold then.

The board need to get real.

All these different strategies and talking count for nothing and less they are implemented.

I think the board have dropped themselves right in it. If no buyer is found for Ruvuma then the money has to come from somewhere. Maybe the zubairs could give us say $5 million pay all our seismic and drilling costs for a percentage of our holding. We would then have a small warchest to expand the biogas business and then sell the remaining stake prior to production or a small free carry to the zubairs.

Anyone's guess but obvious that the boards loyalties are still elsewhere. Just look at the other company's tax liability.

Not a very impressive performance given it has taken two years just to sort out the small investment they have recently made.

Evening Frank and Chris.

Very disappointed since your brilliant interview with Tom.

Lets hope the board haven't decided to go into hibernation for the winter.