Equator Exploration Share Discussion Threads

[geordieduke2] 19/7/2017 14:31

:-) there was a straw poll regarding "the nuke" about a year or 2 ago, that was in favour but the turnout was low and it was made clear that whatever the result it wouldn't happen anyway. It's the doormat strategy, never works unless you are happy for people to walk all over you.

[boris cobaka] 19/7/2017 12:50

Er I think you're getting the SLG confused with the EU...

[geordieduke2] 19/7/2017 10:32

Aftre the poll last time we were told it was not a democracy and we were pretty much told that a few in-the-know knew better and it was for our own good that it would never be pressed, which kind of defeats the object. Basically, regardless of any poll result it was made clear it would never be used. That is assuming it exists in the first place. To execute a long fraud though you have to have something like this in the mix to provide the illusion that you are secure in the knowledge you have it there just incase. It's all part of the ruse to keep people in check. Doesn't exist, just part of the con.

[exile] 18/7/2017 15:24

Before this poll is taken would it be too much to ask for us to try and arrange a meeting of minority shareholders with the SLG ?? It would require us all to make the effort but 1 meeting in 10 yrs would not be too much to ask surely?

[boris cobaka] 18/7/2017 15:04

I'm surprised spp119 hasn't offered us the benefit of his wisdom.
He as I recall used to be quite ready to unleash the 'nuclear option' and the tone of his commentary made it clear that his view of Oando was at an extremely low ebb.
The absence of his thoughtful contribution is rather worrying.
I'm not saying the SLG are in anyway 'stooges' but everyone's circumstances are different and we are after all only human.

I remember carrying out a poll on the nuclear option a year or so ago and there were surprisingly quite a significant number of investors that wanted to proceed.
It is time to do it again precisely because of Kosmos and apparently interested parties. The poll itself sends a message even before the decision is known.
However even before polling we need to know does the option still exist?
If not I will be extremely disappointed that the SLG or the keepers of the button didn't inform the group that there was in fact an expiry date.

So as a start we should collectively bb-wise indicate our readiness to undertake a formal poll. I realise not all holders read this but enough of the regulars that do would at least provide an indication of a desire to proceed to the formal poll.

[gpmh1] 18/7/2017 13:48

100% behind the SLG & Mr. K and thank them for their continued efforts over the past ? years.

I'm going nowhere and will happily wait for KOSMOS to start drilling our EEZ blocks, that's when things will get interesting...if not before.

More patience than sense possibly, but at this stage we got NOTHING to lose and EVERYTHING to gain :)

Regards,
Gpmh1

[digger2779] 18/7/2017 12:39

Quite some while ago the slg went through an asset valuation which was countered with some derisory value from Oando. That was years before Kosmos came on board and as we now understand certain interested parties are looking at our other assets.
What value do we stand at now (apart from zero) taking into the account the above?
Can't they just list the company again with what is going on at the moment? Lets face it lots of exploration companies float with just a few licences that need developing and then build from that. We are further down the line from that surely.
The problem is, is I can't see us getting any of our money back unless they list us on a recognised exchange. Until they do that then any monies available from our assets will go straight into the majority coffers and access to that by the minorities will not happen.
At least with a float there will be a certain amount of accountability and once the stampede to the door is over we can leave Oanda to make it's money however it pleases.
Based on what we already have I reckon a float at 30p wouldn't be out of the question and would bring in a lot of working capital cough cough.

[goulding1215] 18/7/2017 12:19

Absolutely Geordie. Agree 100%.

[geordieduke2] 18/7/2017 10:34

unabkxb17 Jul '17 - 11:51 - 64336 of 64340
My view is that we wait and play the long (er) game

Whatever is going on behind the scenes, the minorities have been played and have played right into their hands. After 10 years of being played with a catastrophic almost total loss at the hands of Nigerian scammers what do you mean when you say that MrK et al are realists, as opposed, for example, appeasers, doormats or something else? 10 years is a lot of patience!

[paulie1] 17/7/2017 15:46

Thanks Mr K..kinda feel i completely out of my depth with this!

[dreamtwister] 17/7/2017 13:36

aquilla i have all proof documented in reflection to tmc,i have no fear of any further actions taken and i repeat see you in court.in fact a court case may attract a journalist to highlight the oer/eel tax scam.... i am at present drafting a complaint to the local mp which should highlight this issue further.slg members should also voice their concerns and bring this scam to the public domain.so aquilla jog on.

[aquilla] 17/7/2017 13:00

Exile, Thank you for your kind comments. But I do hope that there are more genuine attendees than you are implying!

Dreamtwister, re post 64332, be careful what you wish for. Your comments about TMC are complete nonsense but when you state that "this pair of parasites are not to be trusted", referring to Mr K and myself,it might just be worthy of further attention. For the record, I have long since ceased to be part of the SLG committee and have no say in their decisions.

[geordieduke2] 17/7/2017 11:57

exile17 Jul '17 - 09:33 - 64331 of 64335
Doing the accounts? How long would that take? How many transactions are there? There is only payment to Oando that will be paid until EEL gos bust and Oando acquire the rest of the assets for nothing (which is what have done so far). This a game that they are playing brilliantly and all we are doing is helping them. The dividend simply served to give them their money back. They will get these assets for no net outlay on their part. Who is Dimmock going to be loyal to when Oando call all the shots? What are the choices we have? Why not present to choices and let the minority shareholders have a free vote on those choices? What is wrong with that? As it stands we're being denied those choices. Why?

[unabkxb] 17/7/2017 11:51

My view is that we wait and play the long (er) game particularily now that we have Kosmos as a partner. If we splinter now then we will have divided and conquered ourselves. Mr K et al are realists unlike some of their detractors. Lets stick together and see this through . More patience required.

[morningswimmer] 17/7/2017 10:26

There is a lot of negativity on this board. I understand the irritation and mistrust of Oando particularly after the cynical offer to buy back some of our shares a short period before the unexpected dividend was paid (when the signature bonus was returned). However my sense is that Oando don't want us out of the picture as some very valuable assets are in Equator's name 1) OML 122 awaiting recovery of millions spent on development,2) OPL 321/323 sought after by the largest of oil companies and 3) EEZ Blocks 5 and 12 on which Kosmos Energy could weave their considerable magic. If Oando tried to buy us out while there is bad feeling with us the minority shareholders then there is the chance that the government would not readily agree to a straightforward transfer of ownership so it is best not to do anything until one or more of the assets has released its true value which should dwarf any debts Oando has laid at our door. I particularly like the potential figures for the value of the EEZ assets suggested by the SLG team and I'm grateful to them for the continuing work they are putting in on our behalf.

[goulding1215] 17/7/2017 10:16

Just caught up with all the posts. I get the feeling that the majority want a change of SLG personnel. Having been a loyal supporter of the SLG. I would now vote for a change. If I held the nuclear option and have been shafted and lied to for 10 years, I would have used it at the early stages, and taken the consequences. I feel the SLG have basically achieved nothing but held the fort secure for OER. we need a resolution. To not have renegotiated the debt by Dimmock, speaks volumes of his loyalty to OER. Get rid.

[exile] 17/7/2017 09:33

Aquilla.... Precisely !! The debt has doubled in a very short time.

I called Oando's office some time ago (can't be bothered to look back in my dairy for exact time) and spoke to a lady with a South African accent in accounts. She told me that she was doing the accounts, yet in the conference call it was stated the 2015 accounts had not been finalised (correct me if I misheard) surely we should have up to date accounts and the SLG should have access to them ?

Aquilla... for the record I have met you and I think you are probably one of the only Genuine people at these meetings, you ask the right questions and seem to have a handle on the figures. I have convinced myself that 20% of the attendees at these meetings are stooges.

[aquilla] 17/7/2017 09:08

Those of you watching Wimbledon yesterday, spare a thought for a former star.

From today's headlines:

Boris Becker Declared Bankrupt.
"Wimbledon legend Boris Becker lost a huge part of his £100million fortune in dubious investments in Nigerian oil firms, it has been claimed."

A familiar story!

On another note, to my mind the SLG need to put a lot more pressure on the company regarding the ridiculous rate of interest that EEL is paying on its debts to Oando. We pay 16% to Oando at a time when base rates are a mere 0.25%! Bear in mind that 81.5% 0f EEL is owned by Oando so that makes the situation even more ridiculous.

I asked Wale at a previous AGM when would the company come up with a decent offer for the minority shares. The answer came back "When it is mutually beneficial." I just have a sneaky feeling that "mutually beneficial" would be when EEL is declared bankrupt and Oando get the remaining shares for nothing!

[astorcourt] 17/7/2017 06:37

dreamtwister, why did the slg avoid asking the difficult questions? they need to appease their paymasters?

[astorcourt] 17/7/2017 06:26

slg members must be getting on in years now. what will happen upon their death? we will be without representation, we dont have 10 more years. this is a lost cause.

[maff96] 17/7/2017 02:30

Dreamtwister,I wonder how many others feels like you maybe you should have a vote to kick the slg team off and replace them with people who are not afraid of answering the questions you are asking

[maff96] 17/7/2017 02:30

Dreamtwister,I wonder how many others feels like you maybe you should have a vote to kick the slg team off and replace them with people who are not afraid of answering the questions you are asking

[dreamtwister] 16/7/2017 20:18

lets break the code ! the last post from the slg was a dear john letter to tell slg members you have been" shafted" now if you go into regression the slg member was offerd a shareholding in oer this offer was not on the open market but a sweetner to keep slg members quiet and prevent any further noise.whilst oer took eel assets,the slg lay doormant as kosmos farmed eel assets,i highlighted this issue and recieved a negative response from the slg and on the recent cc i highlighted this issue again and asked for the slg to make further enquirys,once again no response.so sadly the sell by date for eel shares are not fit for human consumption.....you have been shafted by the messia of the slg