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Shares are passing hands at slightly more than the company is worth today. If the shares are taken of the exchange, they will probably be worth much less than the cash available. Not sure the controlling shareholders will allow it to be booted off the exchange, but they might allow it to get rid of our leader who over the years has excelled himself.
Odds of 10 to 1 are a lot better than horse racing and miles better than a Casino.
We were unlucky in the Philippines and in Alaska.
Some people are lucky others aren’t, but betting is a mugs game, we had two goes with Red Emperor but our leader is not really in the game of finding oil just in finding a cosy way of life. Worse he is happy to let years pass by without any action at all and when he does and then changes his mind there is no explanation!!
Suthy. Apart from being only interested in his well being, there is no indication that he is able to do anything.
As far as I can tell he has only got involved when a mate of his has offered a risky proposition and he has joined in.
Most of the time nothing has happened for months and months and months. Never has he ever shown the spark of leadership or the desire to get ahead. Good luck to you all your going to need it.
So, no reason to pull out of the last deal and now you have the real possibility of RMP being removed from AIM.
He is quite incompetent and should be removed from his directorship.
6 months is all that's left, his track record is not good on speed of deal making, and everyone in the business now know that he is going to get desperate as time passes.
Two months without any explanation of why we pulled out!
Only another year or two before we get another deal that will probably fail.
Good luck to you all who are holding on but it’s a mugs game tying money up in hope
of a good deal.
The shares need to drop to around .02 before it's worth a put.
So, we didn't do the deal because he thought it would be better to keep the cash in the bank!
So, he will be able to draw his salary, for doing very little, for yet another year or three.
Money in Red Emperor is a dead asset for at least another two years which is why I sold out as soon as the deal was cancelled.
You will be able to buy in next year at under .003 as people get bored.
See you next year.
Your better getting selling all your shares and not throwing more money at it.
Keep an eye on the share price and if there comes another deal. Most people are not looking every day so if there is a deal around you can get in quickly.
I sold all of mine the moment he stuffed us. But I still keep a regular eye for his next con and I'll be on it. If your quick then you might be able to make a turn and make some money back.
One the 8th June Bandy decided to not exercise Red Emperors option on the Perth Basin Permit.
It is now one month and still not a word of why Red Emperor pulled out of the deal which cost us 150,000 AUD dollars.
His track record is beyond a joke.
You have said it all. Bandy has stuffed everyone again. Good luck to those who are still in, but don't forget that Bandy will be out getting more funding if there is a deal out there. Eventually he will run out of punters!!
Looks like around £80,000 a year
Spends the same on advisors.
Looks like Red Emperor is now down to £2.5m in the bank. Throwing away what was according to our great leader a superb chance to make money for the first time. No explanation yet on why he changed his mind and no explanation why he threw away the deal. Bandy, has as far as I can see, has no experience in either oil or gas. So, who advised him to walk away and why? I think we deserve a reason not stony silence.
Gets worse.
Pilot Energy also issued 21,458,332 new shares on the 27th May.
I trust that Bandy will ask for our money back or could it be one of his friends?
The " Sophisticated Invertor"
Pilot Energy have propsed to issue 5,000.000 new shares to be placed with a Sophisticated Investor!! Notice raised on the 2nd June.
So it looks like Bandy has been stitched up as usual and has walked away.
Can't trust anyone in OIL
I have closed my entire position I suggest you do the same.
For Bandy to turn down a deal is very unusual.
Most of the time he is hanging around the periphery of the oil and gas business picking up the scraps.
Also, he needs to get money into the business to pay his salary and would normally use this deal as an excuse
to raise money.
So, this is a first and somehow maybe he has been approached for a real deal?
But how long will we have to hang around!!!
I expect the permit will be next week or the week after. The oil price has risen so things are lookng a bit better.
Looks like only 35% of the shares are not held by Nominees.
This looks very good.
I think Bandy has improved and seems to have got into some sensible deals recently, also the shares are still at a reasonable volume.
I thought the last drill stood a very good chance of finding oil, they did but not commercially viable.
The off-sea drilling also stood a chance, but the oil had seeped away. They did find a TESCO trolly which I was expecting!
Alaska was unlucky, a few miles north if would have been another story.
Yup your right. Did make some money on the last one as I sold half my holding which was around 600,000 at the time. So the loss was not that bad. If I got 300,000 at say 5p I would probably keep the rest.
My cost price is £0.02388.
600,000 shares, 300,000 bought about 4 months ago when this venture was first mentioned.
My aim is to get my money back, and I think there is every chance that Bandy may have a last got
something right.
My Shares are now down to .0239. So I have every hope that we will at least reach .05 p.
A lot of us on this board have stuck around for years!!
Time to get my money back.