I agree Crusty re. Ruvuma extension but it will be interesting to see in what form it arrives. It would make more sense to have a 3 year extension across REA and a 1 year extension for RAA. Once N2 is drilled and proves gas we could then apply to have RAA area ring fenced under a 25 year development license (RDA). This way we will have 3 years to explore the rest of our Ruvuma acreage although if N2 fails it would put us under some pressure to drill another appraisal well to prove up Ntorya. What does the TPDC get out of this deal. Well Jay has some leverage if the TPDC want us to concentrate on developing our Ntorya discovery to supply a faster gas source, rather than drilling the shorter REA deadline which would be wildcat and not necessarily close to new gas line.
Having had the conversation you are undoubtedly in the best position to make that judgement but my view is that the news announcement is more likely to be about Ruvuma extension - at least I hope it is.... That to me is the biggest and best peice of news as it facilitates conversations around funding and farm-in; though KN1 flow rates at commercial production date also required.
Am starting to get a positive feeling about this one after 3 years on edge. Bod and pr company giving off very upbeat positive vibes of late .it will just take time and patience and thankfully I have lots of both 😀
Just a ps to my last post,reading between the lines,I feel that the April invoice has been paid and this will be confirmed soon,only my opinion but now feeling more upbeat.Billy was most obliging but has to be careful what he says.He asked for my e mail address so I could be kept up to date.
I agree with vike; the RNS said that T&C gas would be paid on invoice but does nlt make clear the invoice terms; I think it is simply a case of the RNS choosing not be be clear. I am sure this was known all along as I said earlier today. Indeed weeks ago when I said "it will be interesting to see how long it takes to get paid....?" I was anticipating months rather than weeks due to the experience of WRL et al.... So I can't say that I am the least bit perturbed by the issue. As long as it comes by September when we need it to drill NT2 fine by me.
And for me the T&C gas has always been a red herring (and will be peanuts anyway imo); the real issue is the "Date for Commercial Production" and the blessed flow rate - for which as vike has repeated yet again we will be paid "IN ADVANCE".... Hopefully in July or August at the latest.
I haven't looked at this board for a while, so surprised to see how bitter it seems to have become. What a shame, as it used to be one of the best ones.
On the RNS language regarding payment for T&C gas, there is no doubt that it is saying that payment was due on invoice which would happen each month. So I am surprised that the BOD would give different information at the AGM without a clarification. From a commercial point of view, I don't see this as a major issue in the long term (as long as TPDC pay when due). But any clarification now will probably result in an overly negative short term reaction, so any holder is probably happier to leave it as it is and not rock the boat.
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