Vialogy Share Discussion Threads

[twix386] 28/5/2014 12:16

me too Prophet re AR's new start. I can focus on that and will when it comes, as will we all.

It isn't on when it all comes to light and it seems we learn the truth only when the old discredited BOD are in their death-throws and then depart and no further hiding or gamebook play I witnessed can occur, though no answers of course and that's not fine with me when we have SG still a serving Director of Vialogy. You will be right however. We will undoubtedly never know because some force/compunction would need to be applied and there s clearly no appetite apart from me for that.
Heck, we haven't heard a word since SG got our vote!

I feel hoodwinked, possibly occasionally lied to and certainly misinformed over a decade, with information clearly withheld on occasions AND partnerships, progress and ramifications over-egged. I said for years certain clear behaviour may come back to bite us in the rear-end!

The more we do find out in all areas only seems to add and support the above feelings for me whilst SG is silent and failing yet again!

aimho and ATB

[the prophet] 28/5/2014 11:28

twix
I would like to know what happened, as SG is a clever guy but, its becoming apparent, not enough commercial nous. QuantumRD, by all accounts, had something going for it,but not enough, it seems, to persuade folks to hand over hard-earnt for it. I've mentally written VEC off,whilst hoping AR may yet acheive some value from it.
I don't think there is much chance of SG doing anything now. If we find out the inside track, great,I tend to doubt that, but if we don't, I'm not going to have sleepless nights. To be honest, I'm a lot more interested in AR's new project and what that might bring to the table rather than concerning myself with something that I don't think is going to add any value to my household. I quite understand if others take a different view, that is their prerogative.

[twix386] 28/5/2014 11:16

inspite of it all we ran aground as oilers struggle to replace reserves etc.

Now where is SG as we enter June!!!

and the funding if we had anything like the promise and progress with our partners we've been told!

SG deserves to answer to shareholders, but he only had one real attempt at PR when he needed our vote. Am I the only one who resents it enough to want an answer or two. Rhetorical, as it seems I am.

[humphries1] 28/5/2014 10:03

Despite increased spending, oil majors are seeing flat or declining production as they struggle to replace reserves, according to a recent analyst report.

Exxon Mobil Corp., Chevron Corp., Royalty Dutch Shell plc and BP plc recorded declines in their 2013 production. ExxonMobil reported an average production of 4,175 million barrels of oil equivalent per day (MMboepd), down 1.5 percent from 2012, and Chevron saw its production decline by .5 percent from 2012 to 2013 to 2,597 MMboepd. Shell's average 3,199 MMboepd of production for 2013 was down 1.9 percent from 2012 levels, while BP saw its production volumes fall to 2,256 MMboepd, or 2.7 percent, from 2012 to 2013.

France's Total S.A. was the only company to buck the trend in declining production, with average hydrocarbon production in 2013 of 2,299 MMboepd, Zacks Equity research analyst Nilanjan Choudhury said in a May 16 report.

"But overall, most 'Big Oil' is suffering from marginal or falling returns even as crude prices stay strong, reflecting their struggle to replace reserves, as access to new energy resources becomes more difficult," said Choudhury. "As it is, given their large base, achieving growth in oil and natural gas production has been a challenge for these companies over the last many years."

Rising capital expenses also are hurting the oil majors. Despite capital budgets of anywhere from $25 billion for BP and Total each to the $37 billion and $40 billion that Shell, ExxonMobil and Chevron plan to spend this year, these expenditures are not augmenting output.

Choudhury recommended that oil majors such as ExxonMobil and Shell curb their future spending, noting that indications are appearing that drilling expenditures have peaked, with huge budgetary jumps "likely to be a thing of the past."

The inability of these firms to generate enough cash from operations to address their rising spending and shareholder payouts has forced most of them to take on more debt.

"Though the situation is no cause for alarm, it does raise some questions regarding the companies' ability to finance shareholder returns," Choudhury commented. "Notwithstanding the fact that almost all components of Big Oil hiked their dividends recently, there is no doubt their balance sheets are under pressure from spiraling capital spending and shareholder distributions."

To maintain production rates, oil companies have had to race to find new reserves faster than the old ones dry up, Bloomberg reported in January of this year. That essentially puts them on a treadmill at which they must run faster just to keep pace – a horrible problem in any business. As a result, majors are making significant investments in costly megaprojects such as Shell's Prelude floating liquefied natural gas.

The fact that the oil and gas majors entered U.S. shale plays late also has contributed to the problem, according to Bloomberg. Many companies pulled out of the United States to explore in places such as Africa and Asia, leaving smaller companies positioned to acquire North America's shale assets cheaply. The timing of shale deals has proved difficult for the majors such as ExxonMobil, who acquired XTO Energy Inc. for $41 billion in 2010, right before natural gas prices declined.

Shell announced earlier this month that it would sell its Eagle Ford asset stake to Sanchez Energy. The company has also divested interests in other North American shale plays, with planned divestments for 2014 and 2015 to reach $15 billion, as it seeks to restructure its North America portfolio to enhance profitability.

[alimo] 26/5/2014 18:37

Don't know. We'll probably wake up to another done deal in a few more weeks with our only involvement being to agree another Scheme of Arrangement which is the AIM buzz phrase for take it or leave it. Can't imagine what else is preventing AR from disclosing his plans for VIY. The working out of all the legal niceties and screeds of type is what takes all the time. Lawyers have to earn their corn as well don't they?
Let's be positive (difficult I know) and hope when the news breaks, we will find it's all worth waiting for, and the news is something that really shows AR to be a fantastic wheeler dealer, who might have volunteered his services years ago. Let's hope he has plans to bring VIY technology to several small companies who want to go public, as well as pinpointing the drill sites for many high value metals.

Fracking-myth? Science says the resources are there in huge quantities, so maybe the prices drop, so let's lie again and say it's all a myth, so prices strengthen again. We can be sure that the SMs who are already involved, will not get involved in myths.

[lundylou] 24/5/2014 10:52

Has anyone information on how long limbo companies are usually out of the loop?

Whilst under suspension, are VIY obliged to update the market or website should there be any price sensitive news?

[1marvin] 22/5/2014 18:56

Thks jammytass, (this is twix)

In UK, booked flight to return this coming Wed. Typical

Spec, indeed, so why keep asking? My view is clear and I think reasonable.
I would like to see the old BOD held to account. No 'end of game' analysis other than to prosecute persistent and clear wrong doing, just like in every other medium. We have a serving director instrumental in consistent examples of hiding a wide range of news and information over a decade with enough proof and example imv.

It's nothing to do with the new Vialogy and moving forward. Unlike some, I have said VEC is probably history and AR is the only way forward. However, two different and separate issues if you read my 'they are not mutually exclusive' and I can deal with both. I CERTAINLY do want recourse for past crimes having MOVED ON completely in terms of where we are now and irrespective. It's my view of things. period.

Anyway, let's wait for AR news.

[spec7] 22/5/2014 17:41

Twix
There is only so many ways you can say the same thing and i think you have covered most of them. You dont like SG or the way he has behaved but really it doesn't matter, the past is the past. As TP says the future here is in the RTO and anything that comes our way from QRD will be a miracle and a bonus.
End of game analyses will get you nowhere, if the horse had not fallen at the last, if the ball had ended on black, if only the bonus number had been one less.... You bets ya money and you accept the result, looking back will get you nowhere. Move on , forget this, find another VIY to stress over for another 10 years. "What if" will get you nowhere except depressed.

[jammytass] 22/5/2014 17:03

twix be carefull if your still out there!!!

[twix386] 22/5/2014 10:10

believed in the tech and the progress we did make. Thought it would yield profits all round inspite of the clear issues I raised. Also, nobody but me thought it very relevant, so I did get to wonder if I was over thinking it.

Buying was a clear risk/reward to average down as I didn't actually think my doubts would end up as bad as we did. The old BOD never told outright lies, so we had some great progress and SM names/contracts. Had I thought my warning signs could mean BUST then of course I would have sold. None of us actually saw it coming when it did.

I take full responsibility for my losses and I would like the old BOD to take it for their misleading and withholding of information.

Spec7, it's not a black and white issue. There has been plenty of grey along with good news. I had my views and expressed them. I was basically right. However, I was looking at a significant paper loss and decided on balance to try to retrieve rather than realise the big loss. Bought more. imv that will be seen to have been the best decision in the end and in the circumstances. I expect with my much lower average price I will recoup a heck of a lot of my losses when we relist and going forward under AR. It will see me even perhaps reach a profit rather than a life changing loss. My buying in desperate times does not invalidate or change my issues with the old BOD. It was a rear-guard action of desperation at finding the reality much worse than even I warned of but still on balance didn't expect delivered quite so starkly and a possible way out being presented that I did have faith in and still do. Like all of us, I wish i'd followed my concerns out completely at much higher prices and stayed out. I didn't have that absolute conviction with the great progress being RNS'd and a firm belief in QRD. Not that I need to explain my actions to you ;-)

[spec7] 22/5/2014 10:00

Didnt stop you buying into it though ;-) or more to the point why didn't you sell up while you could.As you say "It was all there for anyone who looked"
Fact is you were still buying this right up to the end i seem to remeber

[twix386] 22/5/2014 09:34

That's about the sum of it

No. 3 yup. I'd like to send the Lone Ranger after them and bring them back for a horse whipping. We were deliberately misled and allowed to believe stuff was good and/or ongoing when in fact it had often stopped months/years ago!

I remain amazed people think this was okay or never mind.

Evolution, ASTFS, BP, financials/funding position, etc.

Absolutely terrible imv when originally trumpeted via RNS news and just the better known items.

A 3 year business plan that had no element of revenue measurement and was secret/internal and nodded through. lol

It was all there for anyone who looked like I did and posted on its future potential ramifications.

[twix386] 22/5/2014 08:43

alimo,

imo SG views QRI as his and acts accordingly whilst having total control on direction and decisions through VEC. VEC own the ip now the transfer has been confirmed and we have access for certain defined applications which VEC likewise cannot utilise so long as in a given timeframe we have proceeded. However, currently nothing at all from VEC due to no funding and I think we are firmly looking at AR's new business only for now. The patents are not SG's, but he has full operting control via VEC through ip transfer.

I would like SG replaced. It's not possible though realistically. imv he is not the man to drive commercial success or likely even to get funding on evidence thus far.

The small oilers should have been great and the potential recognised. However, if you remember we just about did enough to get noticed and a foot in the door with the SM's when the situation with the small oilers was dire and approaching terminal for us. We raised more funds on our progress to SM's and future prospects. The small oilers simply in the main did not drill and would not pay so we had a Working Interest model (5%). It was in commercial terms another in a long list of failures with no compunction to drill and apart from our partner Atascosa, they didn't!

I expect SG is doing his best and may well be being strung along (again) or possibly will succeed just in time. It isn't looking likely though and I am perplexed that there appears no meat, catastrophic delays or holes to anything that's put forward with such excitement, hope and promise. We argued over terms of the restructuring, when it looks likely he can't even raise a penny. Why is that? imv it is as much SG wanting too much with too much control as it is being strung along or indeed his fanciful $20 mill valuation. It's looking like another commercial mess-up with sights set too high and expectations raised and dashed, though this time the last one for SG and at least we have another lifeline with AR.

I agree, oilers in the main don't yet NEED our tech. We are best applied for particular geology as otherwise fine without us in the main. This is recognised and targeted, but still progress is slow and measured for a host of reasons including legacy, vested interests, slow SM processes, our poor commercial ability and contract closing negs, not a must-have offering, etc. If we had something they really wanted, we would have been bought at multiples of our old price well before now. Instead they have barely paid any revenue for all we have done to date whilst everything was talked up and hiccups hidden and information and financials withheld wherever possible!!

If QRD is not superceeded then one day it will be sought after and handsomely paid for when oil reserves do get tighter and as we used to state 'all the easy oil has been found'. That was premature and now there's a Shale revolution that doesn't NEED us either. We add value and save costs if deemed this added value is worth paying for.
QRD is likely not to be for the benefit of current shareholders who have equally been strung along by the old BOD's disemination of information M.O.

aimho

[alimo] 22/5/2014 00:41

Twix - Is QRI/QRD the baby of SG? I'm aware that he was the Tech Director or Officer but the IP and patents were surely always VIYs - now split between VEC and VIY. There are many highly skilled computer whizkids in the world that will understand our tech - our potential customers will know all about it. How long do the patents last? Surely the oil producing cartel can afford to sit this out and grab all for nothing in due course. The large companies can afford to make discoveries as they always have - win some, lose some - the cost of which is all part of the business, and they employ their own teams of geologists who have a vested interest in the status quo. Where we might have gone wrong was when we headed in the direction of the major producers. We should have worked harder with the smaller producers who go ouch when they get a duster, and QRD would have gained a quicker reputation for its quality for the industry if QRD had been measured by many small successes. The share price was also much higher in those days, because news of successes was more frequent. We have been gobbled up, stifled, and spat on by the SMs, who are not really that interested in QRD and their shareholders couldn't care either(they don't even get to know about QRD), so long as the profits keep increasing as the oil price rises keep oiling the gravy train. So whoever made the quantum shift decision to concentrate on Chevron and the other SMs probably are responsible for where we are now. Hind sight is a great thing.

Maybe this is a load of rubbish, but just maybe it explains why no news is coming out of SG, because the SMs are still stringing him along. He needs to tell them to FO and get back to the minnows that can be helped to save on major costs. The SMs just absorb those costs. Wrong strategy has knackered us, but with some hard work for a change QRD can perform. Just maybe SG has become jaded by disappointment, and we need enthusiasts that are paid by performance, and not because they started the dream at NASA but lost their way.

[twix386] 21/5/2014 09:33

understand your position Prophet.

However, I talked (perhaps too often) about the issues I saw and what they could mean. fwiw I consider I was more or less spot on. I don't like letting people who misled and suckered by ommision, waltz off with options hoping to benefit in time from AR's rescue. It just doesn't sit well with me. It was a consistent and identifiable M.O. to withold information and financials.

SG may pull it out of the bag. Even so, my view would not change. He was clearly ill-prepared and had nothing tangible. As the time elapsed and our subsequent 25% partner offer confirms. For me SG is QRI, yet also very much the problem. period.

EDIT: Here's a thought......
does SG have a multi-pronged plan to secure funding, maintaining the search whilst engaged in discussions with MULTIPLE potential partners OR has SG been over-promising and funneled down to one viable option and hope? By now I suspect the later. He's no doubt got positive feedback and made progress as usual, but there's nothing else effectively left still in play. After all, long delays are quite a familiar scenario to Vialogy shareholders and eventually time always seems to run out!

SG needs to measure his own expectations to reality. The old BOD didn't do plan B's very well. I doubt VEC will have anywhere to go if plan A strings us along to our deadline, which on the face of it seems a very possible and plausible situation to me, on all the evidence and experience available to us to date!!

I hope I am wrong, but the old BOD worked tirelessly to prove me right. lol

[the prophet] 21/5/2014 09:24

twix
nothing wrong with being optimistic!
Agree with (most)of your post, and yes, perhaps VEC might be better off with someone else in charge. I think the reality is the new company/board will have very little interest in VEC as their time will be more profitably spent on other matters.
Each to their own re looking back, imo its a pointless task and waste of energy, but whatever.

[twix386] 21/5/2014 09:14

ever the optimist. lol

Does seem some others here really can't open their eyes, but optimistically I'll give it a 50/50 until we get to July/August when it must become a 90/10 against.

How strange it is after a decade to be viewing QRI/QRD as a side show, but that is waking up and others still need to do it.
imv, we should though hold the old BOD to account, but that's looking back. I can do both and wish to. I don't like being misled and info withheld etc.

Also imv SG is now absolutely part of the commercial problem and not the solution.
It would be best if he was not in control of VEC, though obviously that is impossible, but just saying. SG is too close to this and not up to the task now in hand. aimho

[the prophet] 21/5/2014 09:07

50/50, now there's an optimist!
Yes, I agree, SG is a clever chap, one would have thought he would have something lined up re the pep talks at the GM. Sadly that appears not to be the case. There is, imo, next to zilcho chance of securing funding at anything remotely like the $20m valuation that was, apparently, SG's suggestion.Probably only slightly more chance at any valuation, in which case I also have to agree with your assessment of the commercial abilities of SG.

VEC is best forgotten, least in terms of future shareholder value for VIY,imo, and shareholder value is the thing I'm most interested in, everything else is a side-show.
We may be able to get some value at some point from someone for VEC. But the future belongs to whatever AR can bring to the table.I think the next month is looking good!

[twix386] 21/5/2014 08:42

well, there never has been anything wrong with the tech or its performance afaik.

What has been wrong is the commercial ability of our old BOD and in SG and VEC we can see that remains. Will SG get funding? It continues to look like the promise and hope will deliver disappointment in that regard, even after AR has offered 25% of our holding, which in itself is a clear sign all has not progressed satisfactorily to date in this endeavor of which we are basically into H2 of the provided year. I had absolutely assumed SG's pep talks at the GM etc meant he had some commitments/undertakings already lined up for (part/full) funding. Again, that obviously was not the case!!

Fully expect SG to remain the last failure left standing until time runs out.
NOTHING SINCE THE GM SOME 8 MONTHS AGO!!

POOR doesn't even begin to cover my view of SG's commercial aptitude.
imv, he will likely play hardball with his baby (QRI/QRD) and seek terms and commitments to his liking and run out of time, if he can even find a willing partner as we comit to give away yet more of our holding than originally planned in desperation to secure a partnership.
I now rate it at best a 50/50 and there is no ongoing work for customers imv, so we cannot even demonstrate or deliver anything meantime. Just the usual SG hope and promise that has served up this very predicament.

[major courtenay] 20/5/2014 20:58

I'm with Ngen. There's nothing wrong with our tech. (Or our "shared" tech as I should now say :)

[spec7] 20/5/2014 08:54

Its difficult to see why this is suspended ? I mean price fluctuations due to rumour ? isn't that the AIM and how it works ?

[twix386] 20/5/2014 08:35

don't tempt me. lol

[ngen yap] 19/5/2014 21:57

And call me silly / ignorant, but aside from waiting on AR's RTO initiative, I remain hopeful of a VEC deal being completed. Let's see......