Member Info for steve58

As you say we have no water in our oil.

If pressure drops over time there are ways to increase it again.

This paid report for what it is worth was imo a waste of time and money has cost shareholders over £15 million so far and has knocked confidence in what is still a great investment with even more potential going forward.

Very well indeed.

Income over £100 million a year mc £500 million plus share price 50p plus.

Instead we have income of about £700,000 a year a mc of £2 million and a share price of .25p.

Quite some difference.

Seem to remember the directors saying 5000 barells a day oil equivalent and mid cap status within five years.

That was over three years ago so still some work to do to meet that deadline.

£15 million reduction in mc in three days because of some half baked report that the company paid for.

Had a reply from opus.

Documentation should be posted to nominee provider who should update shareholder accordingly. Shareholder then has to instruct them to act on their behalf should you wish to sum it a vote or attend the GM.

Hope this helps.

If the vote goes against them they certainly will.

Reminds me of what happens when a manager loses the support of the team.

Basically the sp is just showing how much confidence shareholders have in the company.
Ruvuma is basically valued at nil.
Value is cash in the bank and helium shares.
Just shows that there is no confidence in the path the company is following or should we say not following. A strategy that at the moment barely covers the fees paid and overheads.
They also of course have no way to issue additional shares to raise capital.

Really early start 9 am. Usually 10.30 at least.
Let’s hope their is no rail strike.

If the vote goes against them I’m sure the same works in reverse.

No mention of what the board intend to do should the votes go against them.
They reiterated that the Ruvuma sale is final.
Surely a company can change its mind.

Strange that you would incorporate three new companies all based in Ireland on the same date.
Could be each company will have an AD plant that we then buy a percentage of.
Just seems more waste of shareholders cash and complicated structure of own
ownership.
Just read the GM notice.
Given the wording the board are not very happy.

May need some checking out.
A very strange coincidence.

Checked my account for corporate actions still nothing.

Don’t think it’s our Tom.

Couldn’t see scirocco on the list.

They probably forgot they had it.
At least it pays the performance bonuses.

Just checked not there yet.

Morning Chris.
Can this lot get anything right.

Hi there.

Still trying to find out myself as shares in a nominee account.
Should appear on account.
If not maybe need to contact liquidators.

A members voluvoluntary liquidation is because a company’s assets are more than its liabilities including the investment.
The liquidators will if approved wind up the company and any cash and our investment will be held in escrow until such a date the investment can be monetised and distributed to shareholders. I’m very surprised the two major shareholders who own almost a billion shares a third of the company weren’t interested in getting the company going again with the losses alone worth a million in tax savings.
We live in hope. If shareholders vote against it probably just be a liquidation where shareholders get nothing as the investment would probably just get written off.

I won’t bother starting a group.
Probably wouldn’t be much to talk about regarding the company.
It just needs a last minute offer from a wealthy investor to buy the company and then rto into another one.

We are not insolvent as our asset is theoretically worth more than our liabilities.
The problem is valuing our investment and ultimately selling them for distribution to shareholders.
I have calculated that for every £100,000 surplus available to be returned to shareholders we get approximately £30 for every million shares held.

Of course if the directors cannot sell the investment or just can’t be bothered then we will get nothing. Considering we have been suspended here more than six years it does make you wonder if they have really bothered about shareholders at all.

Let’s hope for something back.