Member Info for steve58

What was that being Crosby song.

Busy doing n******.

I can think of a few names we could change to but not printable.

Good afternoon Chris.

Does make me wonder the mentality of some people. Over a year to change a name.

Good joke by the way.

So they spent over £500k on fees for the aborted deal. With the extra £300k in March for part of the deposit not returned I reckon well over a million pounds wasted. Still waiting on signature and then hopefully a complete sale for an inflated sum.

Doug Rycroft is on the payroll at gneiss energy.

It does concern me that some of solo’s directors may be spending too much time elsewhere instead of sorting this company out.

Does seem that the only thing to happen is the name change and that is only nine months late.

As I previously said the fees paid in the year seem high. A breakdown of whom they have been paid to and for what would be interesting.

I for one can’t wait for the Ruvuma farm out to be completed and maybe then this company can start moving in the right direction. Four years ago we had more assets which have been sold off and the money spent on administrative costs.

Seems we are not even in the process of acquiring another investment at the moment.

One dyas aborted deal costs over a million.

The fees figure seems colossal given it must just be regarding the aborted deal.

I am not impressed one little bit.

I just wonder if the market will be.

Seems we have little to look forward to here until Ruvuma and helium one are monetised.

One of the most pointless Rns’s ever.

And I thought they had ran out of tea bags.

Still producing unlike here.

Maybe a deal soon.

As I said maybe they jumped ship too early.

The aborted deal took at least six months and hundreds of thousands of pounds to set up.

Time and money wasted.

Could have another go at it.

Not sure if the rule is if you withdraw an offer you cannot then make another within six months.

Correct me if I’m wrong.

Could be they are just waiting.

Still hinges on Ruvuma sale IMO.

Apologies.

Complety forgot.

Strange that they wait until Tuesday, although it will give them time for additional information regarding the farm out if it drops by then or longstop date is extended.

Regarding the gas price, it was $2.23 on October 9th last year, currently $2.48. On the day the deal was aborted it was $1.76. Maybe the board were too hasty in aborting it.

My posts are becoming so.

I shall refrain from any more, just getting impatient I suppose.

If signed off it does concern me if we would then have to get permission or pay tax to sell our share.

Let's get the farm out signed off first.

Anyway have a good evening.

It’s not only the website problem that concerns me it is the total lack of communication.

Basically other than the aminex long stop extention updates we have had nothing since the aborted transaction.

Clarification that the board are still alive and kicking would be a start.

Of course their excuse is that everything hinges on the sale of our Ruvuma stake.

It seems that no further deals are forthcoming. They are basically running a dormant company and taking unjustified remuneration by way of share options at advantageous prices and fees through management company.

I have been a shareholder for eight years and am thoroughly disgusted with the lack of any action by our so called vastly experienced board.

They had access to millions in available finance when the aborted deal was announced.

Maybe it is not as easy to get finance when you are basically running a dormant company.

Looking like yet another long stop extension this week.

Just looking through.

It says Bounty still hold a 10% stake in KN1.

They in fact relinquished it in October 2018 as they hadn’t been paid for their share of gas produced. The fact that our board cannot even be bothered to get their facts right on a simple website speaks for itself.
They have promised so much and delivered nothing.

They all seem to lack any direction as what to do next.

First it was explorer and producer, now it is gas and battery storage.

If Ruvuma is sold they may just as well return all the cash to shareholders and wind the company up because if the last few years are anything to go by we have got a very long wait for anything creating shareholder value to appear.
So we are still owed for the gas produced three years ago.
What chance is there of this farm out being signed off
News on anything next week.

I have sent the company a friendly e mail.

Just asked if we can expect the ipo and drilling soon.

Probably wasting my time but you never know.

Hi Alan.

I do post occasionally on the Leed board.

Look at nxt tec website look impressive.

What if ARA are not prepared to extend the longstop date any further and call it a day.

They will want their loan repaid. This would put aminex in a very precarious situation.

This would not of course help us although could it be worth us just taking over say more of Ruvuma.

I agree.

At least nr did communicate more often.

I found it easier than counting sheep.

Afternoon Chris.

The company has to implement its investment strategy it definitely has not.

They could be delisted if they don’t get their finger out.

Although we have investments nothing is moving there is no income being derived.

I invested in Leed Resources many years ago. Because they failed to implement the company investment policy within a six month time frame they were subsequently delisted.

I still have my shares but until they are relisted I cannot trade them.

Our board should take note.

Have a good day.

Agreed.

Then hopefully company can move on at a fast pace and generate that shareholder value we have been promised by various board members for nearly 10 years.

If the Ruvuma asset does not come to fruition then I hope our board have a plan B.

Just hope it’s not as bad as the film of that name.