East pande is next door to our Nyuni acreage. Jay is currently in talks with a company about carrying out deepwater seismics over Nyuni licence. Our deepwater gas barely been explored and could reveal some huge prospects. Everything appears to be happening at once. Very exciting times
A GSA is not just about setting a price for the gas. Contracts have to be made with companies receiving the gas I.e elec generation companies or industry, we have to prove we have the resource to supply the gas I.e CPR. Plus lots more red tape. It's an important contract that's usually set over a long period. ....not something to be rushed into. Plus Tanzania is being very cautious about the process as this is all fairly new to them and the residents could create problems if they feel their not receiving value for money.
It appears to that the existing pi were lucky on the 29th as this tiddler would have dropped to 1.50p but for these few large trades -------always happens penny shares in the absence of positive news if there is a prolonged delay we will likely go in that direction g l and d y o r
A Reserves based loan or even better a streamed loan would be a great result for us. Oil/gas exploration is heavily front loaded and requires capital when you have least income. A streamed loan provides you with monies to exploit your assets properly which is then repaid with part of the income you receive from the gas/oil produced. This is non dilutionary to shareholders and would be well received by the markets. Our latest director (Tom Mackay) is head of Gemini oil and gas who provide streamed loans!!!
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