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This is my view on everyone involved in the company SER and the requisition for an EGM, I hope to give people the information they need to invest, hold or sell with a clear picture.
Well I guess the best place to start is with the company as it stands.
SER is on the brink of total collapse, they have NO assets LITTLE free cash, a very poor reputation, a very uncertain future. This is how I see SER without an EGM and with no changes to the BOD.
Next I want to talk about what the current BOD’s have achieved since BMD and co left the team. The list is…………….. well its not long is it.
They have done nothing at all apart from throw a huge amount into Due Diligence on an asset that might or might not be taken in the end anyway.
They have an asset that was approved by a lot of real oil experts under Broker man Dan and co’s request and are spending more on due diligence than the said asset will make in a good year plus.
You have to have a business head! SER needs cash flow and at the moment they have outgoings and nothing coming in. If they don’t take the asset and regain the money they are spending on DD they will end up with nothing and the need for even more funding at the expense of the share holders.
Now lets look at those involved. Raylene Whitford CFO.
Raylene is an accountant, she also is a grafter who isn’t scared of hard work from what I know of her past.
However, Raylene is also either corrupt, misled or out of her depths as she is being actively slow and indecisive in her role as leader of Sefton. Infact the first and only time I have seen her take a active role in SER is now that she might lose her job.
Since Raylene took charge the share price has regressed into 10% of the high it once was under Dan and co.
Next up is someone who I feel shouldn’t even be a consideration in the decision to vote for or against but who people seem to need to know about for whatever reason.
Dan Levi:
He was a bank robber who probably traumatized those who had to witness his crimes. I would be disgusted to associate with his younger self, I would actively go after anyone who would dare do something like armed robbery and would celebrate their arrest and sentence.
But that isn’t what we are looking at now, the man who stands to force change isn’t that man.
He did his time and instead of going back to the same life he actively changed. He is someone who put everything he gained after his jail time on the line to help Sefton holders avoid losing everything they had invested.
He helped make SER into a funded company with a plan and target asset.
Like I said, I wouldn’t have back his young self but I back him now.
Next its MR Chris Oil.
People forget who he is. He is the man who made a fortune in the North sea oil boom. Chris is a man I talk to a fair amount and I have learned to respect him and his views on the oil and gas sector. He knows more than most about what makes a good oil company and he has the money to make his opinions count.
Lets now look at the plan.
The requisition is just the start, a Nomad is in place and will remain in the background to avoid being attacked before the EGM.
The assets are all but ready to come on and the sellers are eager to complete to access the AIM market.
Everything is set and ready and lets face it, getting an EGM called is hard work so do you really think they wouldn’t have the plans in place to back it up???
They want Clem to run things, I for one have to say that he has a proven track record and helped last time so why not again?
He is a man who has contacts and a business head to go with it, he will mate the tough decisions that are needed and has strong investor and other support. He has my support as well for what its worth and I will do anything I can to help.
The only decision is to vote Clem in and help make the EGM a success.
I have a track record for giving a fair and balanced view and have never been part of a pump and dump or placement flip or any other mess. I hope that people understand that this is simply me telling it as I see it.
All the best and as always.
All in my opinion and not to be taken as fact nor advice.
Always take professional advice before investing in any company.
