Member Info for steve58

Thanks for that.

I just looked at companies house records and the helium one company being
struck off has been dormant from formation. It could be it was formed just to hold the name.

To stop another company having it.

Still no accounts been filed.

Probably filed by post or handed in as last year.

Quicker online.

Still not showing as being filed.

Nothing filed at companies house house as of now.

Should be showing tomorrow morning.

Hope the deal or deals are worth the expense. I am expecting a minimum 1000 barrels a day on first deal alone and an sp in excess of 10p once the income flows in. If no deal arises in the next few weeks the board will get a grilling from the shareholders at the forthcoming agm. Sounds familiar.

Hope it startsunami soon.

£700K is a lot of hours doing what.

Selling our stake in IOW for £300,000.

This expenditure relates to maybe four or five months of the new board in charge.

Would be interesting to know the cash position now.

Seems we are paying twice for the same service.

Of course paid to a company incurs no tax and national insurance. Of course that wouldn’t have anything to do with it would it.

Probably to save on listing fees.

Their cash won't last indefinitely.

Seems to be the same old story.

No news complete lack of confidence.

We have had the talking very little action and we shareholders are still suffering.

Of course if the asset is already producing a loan can be had against the asset and paid out the income from that asset. That way no dilution for shareholders.

Regarding gneiss energy I will withhold my comment but I think it should be explained just what has been done to earn that vast amount. Must be to cover the cost of selling two assets. Just how many hours of chargeable is that. How much and too whom is this money being paid to. Seems like a reasonable question to be raised at the forthcoming agm. Seems like remuneration in everything but name only.

Does concern me that the directors although they say are reducing salaries are taking the money out by way of invoicing from their other company. I’m not saying they are lying, however, imo they are very near the mark.

I’m sure they can justify their fees, however, selling off horse hill and iow doesn’t seem an expensive task.

Overall not very impressed with the accounts. The loss is about the same and most of what is said we have already heard in the recent rns’s.

The chairman states that he will talk the same time next year about a very different company.

How different is the worrying bit.

The cash on hand seemed rather low considering asset sales and fundraising. In business £3 million doesn’t go very far.

The hmrc tax is another liability which I assume we will pay. Seems the director just wanted out and took everything he could get out of the company with him.

A bit of a damp squib imo. Plenty of talking about what the strategy is almost word for word with earlier announcements. Mr maling took all his options and of course the tax liability with it. I was of the opinion that the tax went on the persons tax return and they paid the tax. HMRC I think take it as remuneration so it it taxed as salary.

Pretty awful to say the least. I have left them feedback.

I know they needed fridges cooling units.

Maybe it wasn't helium. So long ago now.

I will look into it.

As far as I can remember it involved injecting gas into the reef and extracting the condensate ( oil) by way of reducing the temperature with helium. Interesting if my memory serves me right. I will have to look at 8 year old Rns’s to get more detail.

I can see the reasoning in buying into an already producing asset.

Let some other company do the initial drilling etc and then move in for a share of the spoils.

Regarding reef. I thought that the amount of reserves in place and the expenditure involved may have made it worthwhile for us to bring it into production ourselves. It could be the sale is by way of a third party paying all the costs and us retaining a small percentage as a free carry.

Last working day of June is today so accounts have to be filed today. Rns this afternoon then.

Actually as the deadline is 30th which is Sunday they have to be filed today. The last working day of the month.

We have had lots of talking but very little action in nearly a year.

Still not that impressed. Maybe my opinion will change once they start acting on their new strategy for the company.

I did think the annual accounts would have been announced earlier this year but looking like Monday rns now unless they get one in this afternoon.

Looking at the Wentworth news this morning. Looks as if their is more than enough gas on stream to meet current demand. Could the delay be that the gas we have just isn't required at the moment.