goodbye mr. gamble

In August last year I placed the posting below on this board. It was called a 'fictitious board room talk 2014'. Between allan Gamble and his loyal assistent Nick.
I do not know why mr Gamble did eventually decide to leave. Was it that the company coffers are now really empty? The risk management imposed by Kerogen made AJL now only submit bids with zero risk; but also zero change of sealing any deal? ((Contracting is about taking risks, not excluding every risk. It is about accepting risk you understand. Too many accountants on boards only result in not taking any risk anymore).
Epic is the whole episode of the Monument Prospect. Who conned Who?
That is the main remaining question.
Recently I posted the court verdict on the non payment of lease cost of $20k. This took away our rights, or more specifically, it has taken away the rights of the company in which the title to the lease was. On that lease we had a 10% net profit right. It did however not seem important to inform the market.

Another epic situation was the capital issue, where no capital was underwritten, and the underwriter still took millions in fees.
I can actually go on and on. But for now, it's game over.

One thing is clear. If mr Gamble has time in hand now and will sit down to research his family tree, he will find that his ancestors were shipped to Australia from the UK. It runs in the family.....

All the best to mr Gamble, and success in your new job, working for mr. Knowlton.



My original posting:
Mr Gamble, we need to do something about the profit. It has to be split with all these shareholders, and surely that cannot be the intention!

Well, nick, let's play Ball!

Play ball? How do you mean? We have played ball for over a decade! We moved every visible barrier within the world of corporate governance, and now we only have to work on the final act. By the way, i have been advised by an illusionist for a trick that you will appreciate.

Which trick will that be, Nick?

It will take some exercise, but what it boils down to is this; we bend over backwards, and we disappear up our own a..e!

Nick, that is briliant! They can never find us that way!
But first we need to deal with the excess profits from the Cuadrilla sale. One billion is a lot of cash, far to much for the 'retail' shareholder, and definitely for Kerogen.

Mr Gamble, it is easy to deal with the 'retail'' investors. We simply do not pay out to foreigners. To complicated. For sure the ASX has some creative wording we can use. The biggest problem is to deal with the board, with all these outsiders in it nowadays.

No worry mate, as you know Nick, we have our ways. I say loans!

Loans sir?

Yes, loans Nick. Always works. I will simply suggest I need a directors loan, of say $175 mln. I need to fix up my garden, my pool and driveway, and my yacht needs maintenance.

Sounds very plausible sir, but still it seems a bit much, although your driveway, yacht and garden are quite sizeable.

You have a point there Nick. I always appreciate your advice, as you know. Therefore I suggested to play Ball. We also promise him a personal loan, of say $25mln. He also has a driveway, and maybe some other hobbies to spend it on. Then we make a sideletter in which we agree to write of the directors loans in the next two years! I am convinced we can all live with tjis cunning plan.

But , mr Gamble, that still leaves hundreds of millions to share! We must come up with a better plan!

Calm down Nick, I am not done yet. I have an investment proposal. It is called the Black Hole prospect, and consists of 150.000 acre of prime oil shale, on the left and right side of the road to nowwhere!

That's briliant! May i gues, is our friend involved?

On the Ball Nick, you guesed it right! Tom will take care of the paperwork. He claims this time we can do with less then five a4 sheets!

And the total value?

Well we thought this time we take 75% of the equity. It may not go unnoticed, but I am considering retirement anyway.

Retirement? But are you not afraid you will get bored?

No, I don't think so. I still have to do my garden, work on my pool and my driveway.

But sir, you took a loan for that, you should not do it yourself, that would make the loan unfair!

Nick, what is wrong with you? You realy need to straighten up your act!


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