Witholding or Not Acting in Our Interest????The share price is in the toilet and Regent’s management is looking for scapegoats other than themselves. Certainly others have shared in the blame in the past but this current mess is the creation of Rick, Doug and maybe Ed. Just to make things clear, I certainly would NOT be selling Regent’s stock at these prices and any further selling of even small amounts will drop the share price significantly because no buyers exist. Even with all the unresolved issues, the Carpathian oil and gas deal with Polish Oil and Gas is more than worth a share price of $0.50 and if the well is successful, over $1.00. If I were not already over balanced in Regents, I would probably be a buyer at these levels. My explicit purpose is to pressure Regent’s management to exercise the 4.5% and thereby increase the chances that we will make a lot of money owning Regent’s shares due to the partnership with McCallan and Wolfgang and the added value of the concessions.
Why Regent’s management has not taken this action is very perplexing and seem to indicate some hidden agenda. So what are the specifics of the blame game that are being used to avoid taking responsibility and explain their behavior?
BLAME THE EXCHANGE: Start the rumor that the Vancouver exchange will not let us exercise the additional 4.5% because of the increased reporting requirements. We want to do the right thing but are victims of the cruel exchange. The fact is that an additional 6% giving Regents 51% of McCallan’s revenues, may indeed be an exchange issue but 4.5% is not. Conversations that some shareholders have had with Regent’s management reveal that this fact is understood and correct.
BLAME WOLFGANG: Start the rumor that Wolfgang is telling shareholders to dump Regents and buy EuroGas. Everybody knows that Wolfgang will look out for his best interest and he is not Snow White. Seems like a good story but just NOT true. He stands to make money on Regents, especially if he had more shares, and the major buyers for EuroGas assuming he settles the lawsuits and acquires assets are the European investors. Why else would he open an office in Vienna? Oh, I know, he is going to sell to itinerant tourist.
BLAME THE BULLBOARD: All these negative posts are hurting the share price. If these stupid and unknowing shareholders would just stop criticizing us the buyer would emerge. For the record, we have had mostly negative posts for the majority of the time since the stock dropped from almost $1.00 and the negative posts are based on the fact that Regent’s management has no creditability and has not provide updates based on what is occurring. So, how much do you know about the meeting in Austria and the rumored meeting in Poland on August 7, 2007 between all major players. RW’s pumps have taken their toll on our current investors. The attitude is now--PROVE IT and announces it!
BLAME THE POLISH GOVERNMENT: We all think that we know that the Polish government is a communist bureaucracy with too many procedures and regulations and just doesn’t understand that time is money. Except that the Aurelian deal is closed now and the Polish government needs the concessions to be in operations and in fact if McCallan doesn’t get moving, the concessions may be given to somebody else. This fact is probably one of the reasons that Wolfgang has not previously declared Regents in default and cancelled the deal.
BLAME THE DEAL: We don’t need Wolfgang and the Polish concessions; we have killer deals on tar sands and coal gasification. Our deals will make the Polish concessions seem like child’s play and pennies. The problem is that our management has no record of ever making anything happen even in mining an area that Ed knows and certainly not if the deal is particularly complex. Remember the ASD fiasco. We know for sure that tar sands technology and coal gasification are complex and are being pursued by all the large energy providers and “I just feel comforted knowing that Rick Wilson understand these deals and that people with investment funds like him so much that these properties and deals will happen” without the our share of the Polish concessions, being diluted. If this big payday was the case, one might ask one’s self, if our stock is going to the moon in 30-60 days, then why give Haywood’s an additional year to exercise their warrants and not an increase the price more than the original $0.35? Additionally, I guess the insiders at Haywood doesn’t understand the magnitude of this tar sands deal because they don’t seem to be buying Regents in quantity at these cheap prices.
CONCLUSION
Regent’s management should explain in detail their reasoning and justification to the shareholders for not exercising the additional 4.5% if a decision has been made. If some problem exists with Regent’s current 45% interest in the concessions and this problem is why the board is not exercising the 4.5% option, we should have been notified of the problem. I have seen no such notification. If we are not notified in a reasonable time and a problem exist; then, the board members are personally liable for withholding “material information”. If at the same time, the members of the board are selling shares through Mercap Investments, Haywood or some other vehicle, then a serious problem exists.
If the delay in acquiring the additional 4.5% is not due to a problem with McCallan or the concessions and the acquisition of the additional interest adds significant value to shareholders, then the delay is not in the best interest of the shareholders and the board is not performing according to their sworn fiduciary duty. Now that is a double edge sword. So Regent’s board of directors, which of the charges is correct, withholding information or not acting in the shareholder’s best interest??
So give us the reasons or exercise the option. I believe in the concessions and am just trying to get the board to make the right decision for shareholders. I believe in the value of the properties and with a responsible board, we could be well over $2-$3 with the option exercised, Wolfgang’s promotion and CBM funding. If the tar sands are real, so much the better but right now, I want an additional interest in the Polish concessions.
The share price is dropping because the Polish concessions are why most of the investors are still here and Regent’s management is not ACTING and not EXPLAINING but is giving SWEETHEART DEALS to Haywood and creating a is bogus smokescreen of lame reasons to explain their behavior. That’s my view.