re: Ann: Requisition for Shareholders Meeting... Im thinking...

re: Ann: Requisition for Shareholders Meeting... Im thinking along the same lines as jelly09

The current situation is untenable for share holders and a change was imminent to use one of their preferred terms. The share price was not reflective of a company that is an oil producer, cash in the bank and sitting on a potentially huge gas play in Tanzania. Instead share holders were left watching the share price dwindle to all time lows and what has the board done?

- Trying to sell our interests in Tanzania
- CR for a wild cat to Sophs with free options
- UK our only income producing asset is becoming a working capital money pit.
- Italy well that can be put down to bad luck.

What I hope a rejuvenated board can do,

- Reassess the Tanzanian situation.
- Unfortunately I think they will get the 50% to support it at the GM , but a rejuvenated board may consider share holders more favourably next time
- UK, they have the money do the Horizontal at Lindsey lets see if we can increase output and reserves we need that cash now, not in 6 months .
- Italy will be a waiting game.

In summary share holders need a board with direction and commitment to growing the company and creating wealth in mind.