Member Info for steve58

I agree, but two years and absolutely no shareholder value delivered.

Just not what we all expected given all the promises and predictions that were being made.

Maybe a change of directors is required.

We need directors that are fully focused on the company they are in charge of.

Seems our board are too busy with their time earning money for another company.

It’s all well and good having an experienced board that are good at earning money elsewhere but should I say awful here in the two years they have had to bring shareholder value to here.

To rely solely on the sale of our Ruvuma stake doesn’t seem logical to say the least.

For all we know it could be months if not years before the farm out completed if at all.

The licence was extended six months ago so will need extending again soon.

The whole farm out is farcical and our company isn’t far behind being the only thing the board have done in two years is sold a couple of old assets and changed the name and that has still to be done.

Revise my figure to just over 9%.

See significant shareholders under investors section on their website.

See block energy rns 16.09.2020.

Mr Ferguson.

It may be of interest to you than Mr Fitzpatrick holds a similar size stake.

Over 10% of the company between them.

Could be interesting if any future deal is forthcoming.

Morning Chris.

Gneiss latest accounts show tax of about 140k so about £750k profit.

I wonder how much of that profit is derived from fees charged to this company for services rendered.

A few hundred plugs to pot so busy in the garden.

Have a good weekend.

Morning chris.

Maybe new name will mean better future.

The last 8 years have been pretty dismal to say the least.

I trust they will check the spelling of the new name.

At least it will give them something to do before the drinks and canapes.

Hope for news soon on ipo etc.

Helium airships are being developed.

Apparently helium is not combustible and completely safe.

A helium balloon if ignited will just pop.

Agm tomorrow.

Red dot tomorrow morning would be great timing.

Thanks.

Morning Chris.

Looked at theTPDC website.

Last news update Jan 2019.

Seems their website isn’t updated very often.

We need that farmout signature soon.

Why give us a years extension and six months later still not signed.

At least we have the name change to look forward to.

Regarding value.

If ipo at the figure quoted about $1.90 we would make about 6 times our investment.

If you include tax losses I would estimate at almost £3 million pounds or about .009 p a share.

A holding of 100,000 shares being worth about £90.00.
A holding of 1,000,000 shares about £900.00 and so on.

Correct me if I’m wrong.

It will be interesting to see any comments that are made in the final accounts which have to be filed by 30th of this month.

Hi Thomson.

Not sure if that is your first name.

As it stands we still have our original number of Leed shares.

IMO as nxt have stated they want to have an ipo and be listed on the London market probably aim or could be a full listing depending on size.

The best case scenario would be a Leed reverse takeover of nxt tec.

The advantages for nxt tec would be a ready made London listing and use of about £4 million in tax losses which would be a tax saving of about £800,000 against future profits.

It has been slow going but looks much rosier for the near future.

If the directors had wanted to call it a day and wind things up I’m sure they would have done so when the limestone investment went belly up.

Only time will tell.

Evening Chris.

I assume this means that the farm out and subsequent drilling programme should definitely happen soon.

I'm glad someone else translated it.

I'm not too fluent in Tanzanian.

Hi there.

You still have your original number of shares.

It's just we cannot trade them at the moment.

Hopefully we will relist or rto into nxt tec so would then own a number of nxt shares instead.

ATB

Patent granted for all eu countries including uk for innovative flooring system.

For 38 countries.

Flooring saves on time and materials. Huge potential here.

Hopefully the marketing is being done with ipo not far behind.

Leed involvement maybe for uk operations.

IMO at rto into Leed giving us shares in nxt tec who have said they want a London listing.

A few million of losses available against future profits.

Expires 30th April 2035.

Maybe things moving at last.

Morning Chris.

I hope you were just referring to the forthcoming name change.

Good Rns’s from other small oil stocks this morning.

Nothing here as usual.

Hope all well.

E mailed Charles Zorab got a reply saying the annual results delayed hoping for news from nxt.

He says projects are in the pipeline and nothing really started.

I sincerely hope something happens here soon for the good.

With the bushfires last year and COVID this year we have been unlucky.

Still shows pre ipo fundraising on website link from leed and no news since March.

We should get the delayed annual results by 30th but not expecting much of interest.

Nxt are still trading and have a strategic investor that has so far invested $2 million aus dollars. So someone thinks it’s worth investing in. If the ipo takes place it will supposedly be at about $1.90 a share. Our investments were made at about 31 cents a share so potential 600% return on investment.

ATB.

Steve

An awful week here as usual.

Suppose I should say an awful year as well.

A ***t year really excuse the language.

Just how much longer do we have to wait for that signature.

I trust the directors have had another busy week.

One of them has been busy and increased his holding in another company.

It’s a pity shareholders cannot attend this years agm.

Should announce the proposed name change. That should be followed by a round of drinks congratulating the directors for the one company changing decision in the last year.

Have a good weekend everyone.

Something certainly has to be done.

The board are waiting solely on the Ruvuma sale.

IMO they have done nothing to enhance shareholder value since being appointed.

They have taken out millions in fees for one aborted deal in two years.

All this talk about deals being done seems a load of bull to me.

A company cannot wait indefinitely for one deal to close.

We may as well have stayed as we was with nr in charge .

We do have him to thank for our Ruvuma stake.

I cannot at this point in time have anything to thank the new board for.

This should eventually change but the treatment of shareholders has been awful imo.

Confirmation statement a month overdue.

Companies can be struck off and directors prosecuted or maybe they cannot get someone to sort it out. Ignorance or just a simple oversight. The way things are going or not going on at this company gives me little choice in what I think.

Shareholders are being treated badly to say the least.

I can’t believe it’s nearly a year since the company transforming deal was announced subsequently aborted.

Even more unbelievable is the company changing events that have happened in the year since.

Sale of reef stake for £1 and change of name that still hasn’t happened. We mustn’t forget the million or more in fees earned in the process.

IMO the directors are too busy elsewhere. I would after all the talking and interviews we were going places. Promise of mid cap status within three years. Still seems very difficult to believe their are no deals to be had. As economies recover so will asking prices or maybe they think otherwise.

Nearly three weeks overdue.

A simple five minute job.

Just how much longer will the Ruvuma saga go on.

Six months since licence extention granted and three months since tax paid for farm out to go ahead.

The accounts also show accounting related and auditors fees of 220k.

For a company with so little going on and no income that seems high.