B.N.E. making its first returns to investors

Report from the Belize paper – Susan Morrice tells the paper she found the oil. Let us get real. TQ was against this oil crack when it started thinking it would mess with his Educo game plan. Then he saw the writing on the wall-Everland-reality. Dollars shrinking and so he now realised his Educo wells were dry. Quick jump on board and take over the board mentally first, kick out his best sales woman and then get people to do the Educo so they could be softened up to buy shares. Then when they cop on suggest they take out a loan.

Nice one one send in your cert and take a swine flu jab in the butt and TQ laughs all the way to the bank. Susan would you please send me another legal letter and this time please inform the solicitor what you are about. I had to explain: Don’t mess in the oil company and connect it to Educo= + means I mess with Oil and Educo all the time. I sell oil when my snake oil rep is selling Educo.

For goodness sake Cranberg cut her loose and go back to what you are good at oil and philanthropy.

I assume you have heard about the Jew that visited Belfast and was asked what religion he was, when he replied Jewish he was asked whether he was a Protestant or Catholic Jew. Now when TQ asks you do you accept him as Messiah you should tell him he watched the Life of Brian too many times.

Banner The Belize Reporter.JPG

Sunday, November 15, 2009

B.N.E. making its first returns to investors

Belize Natural Energy (B.N.E.), Belize’s only petroleum-producing company, has announced that it is to begin distributing returns totalling about $10 million to shareholders in the coming weeks ahead.

B.N.E. is today producing some 5,000 barrels of oil per day.  Last year it had revenues of $113 million and reported a net profit of $26.7 million.

B.N.E. employs a staff of a little under 200, and most of its investors are from Ireland. The company has recoverable reserves of 20 to 24 million barrels of crude, official reports say.

The Government of Belize gets royalty payments, and has a 10 per cent equity stake in the oil fields.

The first time returns are causing controversy, however, because it comes to investors as an interest-free loan. B.N.E. says it is doing this because it wants to keep part of the loan proceeds for further exploration.

Belize Natural Energy was founded by Irish businesswoman Susan Morrice

4 Responses

  1. Unfortunately this company found a perfect place to operate its fraudulant business – afterall it is just following the Government. The truth is that the Government could step in and do something, even though it has itself taken illegal booty from the oil company. How else could Susan Morrice and Tony Quinn operate unless that did it in the open with big pay offs. It’s always been the way of doing business in Belize. The country is indeed beautiful, but it’s not the country, it’s the corruption and Susan and Tony will keep on ripping people off until our Government does something.

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  2. As a person from Belize that invested late on in this I am aghast at what is going on in this company. BNE had an excellent reputation going back a few years. Now BNE is seen as a joke in this country. The do not play by the rules with the Government, the do not pay suppliers on time and they have a very aggressive policy as employers.

    Now I see all this happening to shareholders. It is not the type of corporate entity that is liked or needed in Belize.

    The very few people that I have met that are investors that have visited our beautiful country seem good people although many are dillusional about how this country works. This is a corrupt society where the highest in Government lead by example of ripping people off and robbing from the most needy. The most in need in this country are also quick to help themselves in order to get even.

    The mentality of the company is all wrong and for those of you who have not visited Belize please understand that the comments you are hearing (as I can see via the news) from the company representatives is not the real story.

    I am a very small investor and my shares I guess do not make a difference, but they are alot of money to me and my family. We need dividends as investors. The sheer waste and spending attitude of this company could easily be curtailed to pay back to those like me and the people who were courageous enough to invest in the early stages and more importatnly the people who come to Belize and make it all really happen.

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  3. The Belize consulate is in Foley Street in Dublin why not stage a protest there!

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  4. I see that the press releases going out are very selective. The one in the Belize newspaper failed to mention that Tony Quinn Hypnotist is an “investor” which is what the Irish press release said. One would wonder if there is a fear that the Belizean people will find out that the quack they have been slagging off in their news reports and on their radio is actually the brains behind the new regime in BNE. The Belize Reporter has it’s own comment section under this story on the web – maybe it is there that we should be posting these posts and not just on Dialogue Ireland.

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