letter to karoon board- do you sign w/ me?

To Kar Board,

We,shareholders of Kar from small to medium size,would like to express our high dissatisfaction with the events as follows

a) We understand the secrecy of negociations is been used to just not inform and update the shareholders about the real situation of each area but also cover the low results in the negociations and the transparency all need to decide investments.

b) The communications are most of the time with very low level of transparency most of the case being used by shorters to increase their position w/ several times doubt about the real meaning of the text.
Very frequent after announcement people buy people sell and they cant identify if was good or bad announcement.
Also some words creates really a conflict and serious gap ..

c) The lack of real positive attitude towards each annoucmenet in reality promotes the opposite.. The concern to “don’t express the existence of more..” ends to promoting the existence of less

d) The board have no bought one single share since the dramatic drop from 7’s levels all the way to 3’2. That gives and leaves the impression the board doset recognize any espetaculat buying moment.

e) The company doesn’t promote roadshows and doesn’t create a ositive input to attract new investors everysingle montj. The result is the amazing loose of retail holders and the highly concentration in the top 20..

f) Other consequence(on top of lack of daily new buyers) is this concentration always can be used and seen as a easy target yo a hostile takeover in low levels of agreeents

g) The capital raise was advised as to “strength” Kr position under negociation. The reality is most of that money went to drill Grace.

h) The drill of Grace was not clearly informed to the market what kind of efforts and/or consequences and laternative(like request a postpone the drill for 1-2 years using the argument that other areas will be drilled making too much cash burn effort.

i) The information that “several” people is looking and in end nobody accepted to come together should be the best sign to the co that the place is not interesting to invest so much money in a moment that the share is victim of tarders and shorters.

j) In that sense (shorters) the Co struggle to be creative and just repeat and rpeat the old and very poor of imagination explanation that..we checked with Asic and we can’t do anything and they informed also many other companies are complaining about predatory actios…
That shows the Co really need better legal assistance and more creativity how to deal with such events

k) The marketing just doesn’t exist( and if exist is so poor results that is like non exist). Why we don’t have 2 press releases per month ? One to general press (The Age, Australian,and major newspaper all around Australia? And another exclusively to finantial newspaper + manager funds ?

l) Doesn’t exist or is poorly informed (and for sure the result is nihil) the level of contacts with existing funds with pre-schedule lunches,dinners,coffees in such way that every 3 months all top 20 received a especial attention and close info how the things is going in a way to excite them and make them friends… and rarely friends feel confortable to stab in the back.

m) Doesn’t exist or is poorly informed (and the results are nihil) contact with other funds… Considering we have 4 or 5 funds and Australia have at elast another 200,should be essential the board have weekly guests to lunch dinner coffe just to present the company, show videos, invite them inclusive to go to Brazil and Mr Barbosa could host a helicopter flight around our areas (he has plain access and most of time that can be with very low cost).
Each new fund even if 1% can make a huge preassure up.Target,lets say 12 new funds per year with 12% of capital target(and for sure just one can be so enthusiastic and have 3 or 5% !!)

n) The communication of announcements must to consider :

1) THE FIRST PART OF ANNOUNCEMENT MUST ADDRESS small,medium investors and even manager funds(that don’t understand about O&G)… Just the second part provides to technical people details about the drill and aspects.

2) In both parts is absolutely essential spread amazing enthusiasm (without breach any law) and show how excite is board is with the development.

o) The PR must have close contact wth all communities (chats,forums etc) to :
1) Give a feed back to board
2) Give and raise answers to the company address trough announcement like questions and answer seccions alive by net.
p) The attitude of board cutting his own wages and options should be a strong demonstration of real concern about the cash. Even if that will not represent any major solution,at least will show commitment and emphaty with the high losses most of shareholder are having.
q) The action sometimes "per si" promote strength of company. One single announcement showing the company engaged a solicitor company to chase all trades from now on trying to sue the ones that maybe are acting in disagreement with legislation promoting a predatory action..Just inform that could cause a positive immediate reaction. Even the ones acting with the law, they doesn't want have in some way reveal their names and their intentions..
Be creative is not breach the law...Is work with the law in a smart and new way.

Q) the board should stop immediately evry single bad event blame something,somewhere or provide excuses. Informtion about the market prefer yield shares, or the "cycles" of economy very easy can be benchmarket and show how untrue is the excuse. But much more than that... The market expect board the provide share results not excuses...

R) finally the board lay down all time expressing their self adiration o such good performance in the drill wells with such discoveries is absolutely irrelevant. if the share doesn't goes up any of the discoveries transform our investments in something good.
Sharelholders expect share price UP. Nothing else. the board can do a lot to ptomote and facilitate .
Expressions like "we can't control the share price is one of most ignorant and lack of understanding about expectations and market mood.
If the board is not prepared they should hire somebody that can make such changes to create a positive impact in entire market(and than all discoveries will e properly recognized)