Member Info for tvhold

I’m sit here thinking

- RMD don’t hold any equity yet

- the management act for the wider interest of ppp (not just RMD group) and the views of existing and potential new shareholders are really important

- new brokers oak securities are very influential and are likely to be telling board to target operating yield today, specifically US and Canada - safer markets for their institutional investors where they can raise funds more easily - Ukraine is really challenging today irrespective of how good the asset is.

- we shareholders at the next management meeting, or before, should really encourage the board to refocus activity on Texas and retain and restore value there - we have already made substantial investment and even if there is no lithium and the potential is less than what we think it is this is still low hanging fruit. Please don’t give it away to Petroquest or global vision or anyone else. In this market retaining the option on these assets is critical and impairment can be unwound over many years it’s still valuable. If we swap it out then this impairment is permanent.

Just my thoughts and look forward to the management interaction next week and hopefully back to trading as soon as practical

You don’t need an AGM to return to trading. You need to cure the issue that caused the suspension namely the audited accounts and interims.

I think the best part of the RNS is the appointment of a new broker - a seriously impressive outfit who wouldn’t have touched ppp under the previous management and governance.

This action gives me amazing confidence that they can raise further funding and have satisfied the broker that there are no skeletons and any outstanding issues are being dealt with.

All genuine shareholders should be very happy

Gasman - what options were there ?

Gasman - Lunn introduced RMD because there was absolutely zero option. PPP bust.

- Dutch auction fund raise in Dec 24 failed

- gems CLN failed

- global vision failed to deliver and looks increasingly suspicious

- RMD turns up with two CLN’s

Without RMD then this was certainly headed for liquidation no doubt. So we correctly blame Lunn for lots of things but actually he “inherited” the absolute mess from Evans/lenigas and did the only deal available through his connections (not Menzel or Rapp) and managed to preserve some value even with substantial dilution. Anything is better than nothing and I agree following 7 Nov / 23 Dec we are pretty irrelevant.

Gasman - the RNS said there was an agreement with Petroquest (just like an agreement with Global Vision). If it had completed then there would be a subsequent RNS which there is not. It will be in the accounts as a post balance sheet item if it has completed.

I hope the visit to Texas has caused them to reflect on this transaction and find a different solution that allows PPP to keep the opportunity (given the current tensions in the gulf it makes sense)

Affrm

What are these 30 oil and gas assets - are they on ppp former leases ? Are these being pursued by Robert in a personal or GV capacity or for the benefit of ppp where he is a director ?? Is this a live deal and how do you know about it but rest of us don’t ??

Dear ppp board

The tension in the gulf, the spike in oil prices, the commissioning of a new refinery in the US, the reduced sanctions on Russia (extending Ukraine conflict) must lead to the Texas operations being more attractive than before even if it costs a bit more to restore the licences.

Must be a better story to capital raise than anything else at the moment and would have shareholder support if done right.

Please don’t give this opportunity away

Hi - I’m also not selling immediately but only because I don’t think there will be any significant and sustained buyers until some positive news is communicated and confidence restored.

Simply retrading on the back of another set of audited accounts and current interims (which will show more loss) doesn’t make any sense.

I also suggest they get rid of the legacy board members and evidence they are refreshed as a board. Hopefully these individuals won’t have the audacity to stand for re-election anyway.

Wonder if RMD will be a buyer at the retrading price or whether management have engaged with enough market makers to get them interested. Must be quite a tricky task given off market for a while

I think there could be a great film in this . Let’s

- round up a bunch of oil exploration licenses in a foreign jurisdiction. Let them lapse while still sending millions across to fund “operations”. Just normal leakage of the funds I’m sure.

- Ah dodgy corporate secretary dies - let’s play a game now.

- select a suitable and convenient stooge and big them up - mmmm what about - Menzel and global vision (perfectly cast) woohoo game on

- issue a bunch of huge announcements that stooge know nothing about (lithium)

- see stock rocket in a week and sell along the way or have all your mates buying and out

- have your buddies at the market makers take a massive short position making a fortune

- suspend the stock immediately

- appoint another stooge Lunn who you know to be toxic to investors and is only there while the stock blows up and can pick up the pieces. Great that he’s a villain - perfectly cast. Playing his part superbly - shareholders love him ! And he’s calm and confident.

- ignore your judgement creditors winding you up (hoping they will) - all legitimate not my fault gov.

- bugger it’s not working - let’s take soen suckers money, retains some big payments for ourselves, gove the chairman some as well (he then resigns immediately) - we can elevate Lunn in an even better role. Ignore the obvious cash flow problems that should just put it out of its misery - can’t pay the bills - sorry guv not my fault - all Lunns haha

- resign and refuse to cooperate - don’t even mention I was at PPP - new job - let’s go again where my stooge - Robert, Robert - ever seen gold, don’t worry neither have we.

- then spread lots of rumours, noise, sue the company, actively engage the FCA to investigate, try to change the directors etc - let’s stir the pot some more so it looks even more unappetising for anyone

Oh on top of this setup companies that raise money and swap it for shares in PPP then put them onto insolvency. More the better

If only that muppet Lunn had done his job properly we’d all be home and clear and he’d be hanging out trying to work out what happened. Bugger that pesky Richard Spinks getting investment and finding all those documents that we hoped would stay hidden. And he has the cheek to bring in new competent people - drats drats and double drats

If the people behind this don’t go to jail I’d be surprised. What do you think Gasman/townman/affrm ? are you also actors in this show playing along even on a small part hoping to get supporting role nominations and a few bob ?

RMD Sunshine will reveal all and all those innocent investors taken for a ride will get front row seats when it comes back.

Perhaps a musical number on the west end - “off to the clink we go… “

Tuan - that’s not true.

Potential investors always read these bb’s as do management, advisors and brokers. It can and does do harm if there is negative comment and sentiment.

Opponents of the management, current and historic use this platform to express their view and there was an RNS last year issued by management advising they would use the courts to identify posters on this platform who spread lies and make libellous comments directly because of the effect it was having.

Affrm - yes that was loose language - apologies

Better I reflect it to say that company has no surplus funds from the historical raises and some of the funds that could have been used were paid in preference to historical directors. That’s factual.

Affrm

Fund raises at 6p, 12p raised money and large amounts were nicked by evans and Lenigas. Tecent trades at 9p didn’t raise any funds for the company.

The running costs of this company are not insignificant and without income from production is all funded by capital raises. RMD had to put more funds in via a CLN so there is no “savings” or cash balances to play with.

Agree with ASI the growth strategy will be share issue led and should be accretive. The challenge is getting back to trading and allowing this to happen rather than focus on what volume of shares there are or the opening price

Before you even get to RTO there will need to be more capital injected. So dilution as per the 23 Dec of 100m ish then a raise of 1m or so when it starts retrading ( which I expect will have to price at 2/3p max)

If we survive then we will be looking at 200m plus when we retrade then another series of issuances - I do expect that any acquisitions will be done in shares so the raises will be for working capital associated with that. As someone said a few month ago it will be 800m to a 1bn shares in no time - but that may not be a bad thing. We have no influence anyway so may as well be a small part of a big thing I hope

Tiger - you bring some sense here - they are a new management and have secured a lot of shareholder support, have invested some £500k and want to disassociate themselves with the past and clean up whatever they can.

As per gasman / The Texas report must have been done weeks ago and I expect the consequences on the company, RMD support and the ongoing listing are being worked through by the board and auditors.

We can only be grateful at the moment they are still actively engaged and let’s just wait the time to see what happens

Gasman / I expect so.

hopefully Richard and auditors will disclose what the qualification is in due course.

I don’t think the current delay is evans or Lenigas - it’s already disclosed they took funds from the capital raise. This has to be new disclosures and it can only involve the flow of payments in the US subsidiaries and attempts at hiding it. Got to be payments to Lunn and Menzel.

Hepran

Very true / easy to forget the extreme and coordinated actions taken to terminate ppp. Looks like we will find out why soon enough. Then it can be put behind us, authorities can take action if they are able to and we move on.

It can only be more information secured in the US by the CEO.

My bet is it will be status and ownership of Texas assets and detailed bank statements over this period - evidencing multiple undisclosed payments to Lenigas, Evans, Menzel and Lunn and links to the financial qualifications in last years audit. Always follow the money

I voted yes to the director appointments at the last AGM (other than Lunn). This time I really can’t see why I should vote to reappoint any of them ???

Menzel should step down or be fired - he was ceo in this period and there’s a problem with the accounts. He needs to take accountability and go - actually anybody associated with the past are complicit and need to go.

Word spaghetti - what is the court case against Petroquest ? Is PPP being sued ?? That should be disclosed shouldn’t it ?