Member Info for Uggy100

If you think Rathlin will find their share of the cash then possibly. If we have to help them then basic maths says no.

I know what I think.

persi i don't give a **** about a divi which i agree will never come. i'm hoping for a sp corrections i can bail out. i've had enough of their lies & incompetence.

Persimmon it could be a good move if successful but it has become the only move. Rathlin have been looking for funding for some time & got nowhere.

I take it poiu that your ramblings mean you are ecstatic with our BOD's handling of the company over the last few years ?

It would seem you're right persi, I have nothing but contempt for the pair of them.

They may think its funny to invest in marginal projects(at best) whilst destroying their shareholders & making themselves rich in the process....I don't.

Moniman, the last RNS stated Shell monies will be used to invest in WN & CS. If we bail out Rathlin there's no way a divi will be paid. I've never believed it anyway.

Moniman the Victory deal was a crap one but that's what happens when Corralion were, in effect, a distressed seller. Forget about the npv10 valuation RBD touted and that was never gonna happen, just another lie from Williams.

Herbert, you're right about Rathlin screwing up by using water based muds even tho' the problem was well known was already well known within the industry that oil based muds were the answer. Dreadful mistake by Rathlin which was a waste of millions of £'s.

At the last agm the 2 goons said the oil was still there but they were concentrating on the gas reservoir.

What's really needed is progress on WN to send the sp on an upward trajectory.

I'm with itsawrap I want Rathlin nailed to the wall on any funding deal. They have proved to be even more useless than our 2 fools (if that's possible).

Itsawrap, I hope its the former as that means they're just useless rather than the later which means they're corrupt !

Lenin, the reasons are simple.

1. The 2.chumps are clueless & despite their assertions have no idea of the nuances of oil & das.

2. Lack of any due diligence when making investment decisions.

3. A dreadful sale price for Victory after being told pie In the sky valuations by the 2 liars.

4 A complete screw up by Rathlin when conducting the drills at WN.

5. Purchase of Simwell which no-one else had been interested for years.

6. Disastrous handling of the Daybreak fiasco , highlighting their inability to run the Company.

7. J

Involving us in an Italian project that we seem to have paid way over the top for & has more holes in the prospect than a Swiss cheese.

8. Utter contempt for their shareholders by continuing to insist on joint CEO's who are grossly overpaid.

9. Their willingness to lie at every turn to their shareholders.

Is that good enough ?

So am I GP, I've been concerned about the Rathlin funding & what RBD might need to do for some time now. To me RBD have shown no financial prudence by embarking on the CS project which is a disgrace.

JD-Nau I agree with your points which begs the question- Why on earth did we enter into the deal ? MF atone seems to be dodgy to say the least.

S&S's original plan was to aid development for WN which to a large degree has been put on the back-burner while they squander cash on projects which are nowhere near as lucrative.

You would hope S&S are working on an operational update. Question is if they do will it be believable?

They really should provide us with more detail on CS as, to me, there doesn't seem to be a great deal of benefit to us for years. If it actually gets the permits.

That's true Watts. The problem we have is that after their clear victory they'll be even more inclined not to communicate. They know they've been shocking so why would they go out of their way. Indeed, it wouldn't surprise me if SW thought it wasfunny, the smug bustard.

I guess, at the last agm it was prolly 98% 2% split.

Wild west yes but i should have known this was a train wreck coming some time ago. I don't care about KS & co particularly but I honestly believe changes are necessary as do many in both camps.

I don't know how to run multiple handles, nor would I wish to. Yes you've identified my main concerns but S&S are guilty of lies & misinformation as well.

Poiu=an insidious human.being who will bad mouth anyone who has a different point of view to him.

I don't know why listening to heid gave me some hope for change as its never told the truth.

I wouldn't have minded a much closer vote to give them a wake up call but, as I said earlier, S&S will sail serenely on without much of an attempt to keep sh's informed.

My major worry is that when the balance of the Shell monies are received the majority will be spent in bailing out Rathlin leaving us with very little cash. If that's how it plays out you can forget about any divi (I already have).

Moniman, when you've been in this dog as long as I have you just get worn down.