Baron Oil Share Discussion Threads

[simon8] 19/9/2017 15:15

It just gets worse and worse, a couple minimal value sells and down we go........

BoD are you looking at current shareholder value and working out how you rectify this...

Market has this down as a dead duck

[simon8] 19/9/2017 11:20

Pembury - you can but hope - has anybody told UOG / Boil, perhaps an email to their respective CEOs pointing them in the right direction would help as they seem incapable of doing anything themselves!!!!

[pembury] 19/9/2017 09:49

The majors are moving in offshore!

Karoon Z38 and BOIL Z34 must surely be on the radar!!!!!!!!!!!!!!!!!

[pembury] 18/9/2017 12:04

oil at 3 month highs so assets should be looking more attractive for deals

[joetricky] 16/9/2017 14:26

I think that we are all in agreement that this board have done absolutely nothing to progress this company and give shareholder value. Sundagas is a dead duck and I for one see it as a Butler family leg up. It is draining resources with no deadline in place to avoid this continuous extension of the agreement to Sundagas' benefit and certainly not to the benefit of BOIL shareholders.
I see XX1 as our best chance to recover this. Let's face it if we do nothing we are stuffed. The money is running out. The board are reluctant to throw all available cash into XX1 because even if we do strike gas or hopefully oil we will not be able to afford to develop the field. I say that once we hit gas or oil we will have a scramble of companies willing to help us out in that small matter and will pay handsomely for it. Board get on with it. If nothing from Sundagas at the end of this month then terminate. Drill XX1 and bloody quick as.

[peruoil] 15/9/2017 08:02

If no Asia deal this month then that is it.

[2admiral] 13/9/2017 13:27

cylic, If I were Mrs P i would be banging the door down demanding an explanation about performance, results and lack progress about six months ago.

[pembury] 13/9/2017 13:06

yes the board have been saying all year about bringing in a partner to drill xx1 in 2017, securing a deal in Asia since March and drilling Z34 in 2018.

Exactly how many of those objectives have they completed on. A big fat zero, but still get paid and keep their jobs. This was also the same case for 2016.

I for one would be more than happy for success to be rewarded but not failure.

alarm bells!.

[peruoil] 13/9/2017 12:54

Fair criticism of the BoD.

Great money for absolutely no results anywhere for 18 months!!!.

They need to cut it again to about £30k pa/ 1 day per week duties would do it.

Has M Butler had success anywhere else as CEO because I have looked and found nothing?.

PO

[phil up] 13/9/2017 12:48

Agreed 2admiral.And/or a partner/s to drill xx1

[cyclic] 13/9/2017 11:32

Mrs P owns 20% of Baron oil given to her in a divorce settlement but is probably out shopping and no clue whats going on here.

Mark Pritchard has 66m shares just under 5% can't believe he is just sat back letting these clowns go from bad to worse!

[2admiral] 13/9/2017 10:47

I am expecting a deal with Sundagas this month. If it doesn't come I will expect
the Chief Exec to be replaced immediately.

[pembury] 13/9/2017 10:28

They won't need another gravy train as you put it tommo41, it will be a nice retirement now after this end of career bonanza guessing imo. Boil has been great for them. Butler holds just 1m shares i believe at 0.5p so hardly backing himself or losing out there- like us mugs. Put them on no salary and shares until farmout is completed (as BPC have done) would have been my call a year ago but now it's too late the cash has been paid out and still is.

I agree I just don't get the continued backing. If it all rests on Asia then September is the deadline, end of for Sundagas. What an earth do they do all day, same here?. The answer is in the news flow.
Northern Ireland was a waste of time and money and now Asia not far behind.

About 90% of posters here have voiced their concerns for about a year on this current rudderless ship.

[pembury] 13/9/2017 07:43

Baron Oil have now been funding Sundagas (nephew of CEO) for 1 year for no return. They have extended the deadlline yet again to September for a deal. If this doesn't happen then things need to change 100%. Salaries are far too high for what is being achieved, the sq route of F All, how can they be paid so much?.

2016 was a non event and now 2017 fast becoming the same yet the money keeps rolling in for management.

I am amazed this being allowed to continue.

[peruoil] 11/9/2017 19:49

Share all of yours concerns with the current set up. Let's face it Baron Oil has been brilliant for the Butler family and nobody else. I'm sure they will be hoping it continues as long as possible.

[pembury] 11/9/2017 19:36

I don't want a non productive board for another week let alone another year, this company has sat still for too long while the money gets whittled away to a point where change must happen NOW.

This is a results business and simply there haven't been any signs for 18 months since the change to justify continued backing imo. Very alarming this has been allowed to continue.

[nlmbidc] 11/9/2017 19:20

Appointed by the board in May 2016. Approved at the AGM in June 2016.

2 year vote to reappoint in June 2018.

[pembury] 11/9/2017 18:48

Not that I recall, it was the Chairman we could vote to re elect but not the CEO

[nlmbidc] 11/9/2017 18:34

Pembury,

Actually we did.

[pembury] 11/9/2017 17:02

Yes we never had the option to vote on the current CEO at the AGM! Stinks.