As suspected it's going to be an increased flow between 20 - 30 . That's a 50% increase to suspected income. This well can produce 40 so 30 is very reasonable for stable production . That could increase income to $22.5m per year. Turn up the taps chaps :-)
FWIW I am told the Tanzanian Central Bank have finally agreed to stand as guarantor for payments under the GSA. Can anyone else corroborate this? I would only classify this as hearsay at present Perhaps at the AGM a question could be asked.
An honest and transparent answer CP - thank you. Is anyone reading this attending the AGM? If so could you please ask a couple of questions on my behalf..... Firstly why were Senergy appointed as it appears their work has significant overlap with or even duplicates that which Bernard Andre was commissioned for? (GasL your point might be quite astute on their requiring independent verification on numbers linked to 3rd party interest) Secondly (and I have asked AEX this question directly with no answer to date, three weeks on), please can they clarify what exactly their outstanding debt on the Argo loan is as at the date of the AGM and (most importantly) whether this figure includes the $3.3m already received for the initial 6.5% tranche of Kiliwani North and whether it includes revenues expected for the second tranche of 6.5% of Kiliwani North to be purchased by Solo, as this is unclear in their financial summary. Ritson has answered this question saying that he believes the $3.3 paid for tranche 1 has been used to pay down on the debt, but conveniently sidestepped the real question which is "does the outstanding debt stated ($7.8m) take account of payments received and expected from Solo" for the initial and subsequent 6.5% purchases on Kiliwani North?
Rather melodramatic prose but I have a lot of sympathy with many of your sentiments and if there is no significant progress on many of these issues in the next few weeks the recent rally in share price could very well evaporate very quickly. I hope that there is to be some significant progress to be announced at the AGM or shortly afterwards - however the company is obliged to release such news to market as and when it becomes available NOT when the Company chooses to let the market know. Hence my assertion that if there was anything to announce it would already be out there. The reason that they have said nothing is simply because there is nothing to say.....
From a diehard holder to a morose sceptic! Someone tell me why I should keep holding these. Nigh on 4yrs down the line and six weeks and a day from loan repayment date, and b*gger all from these people to bolster confidence. Yellow Jersey - pro PR outfit? Sweet FA! Bernard Andre - Cove deal BIgShot pulling the strings on the CPR? Sweet FA, ok some significant upgrades on the way, but where has he disappeared to and why! Alternative finance streams to fund forthcoming obligations with 4 drills in 18 months or whatever it is? Sweet FA! Egyptian news - sweet FA! American income news - sweet FA! Farm out - sweet FA! GSA signature - SWEET FA STILL! Way back I was one of the first people who stated 'patience would reward'. Starting to think there's more honesty down the local fruit market to be honest. What on earth are these people going to table at the AGM? Such an enormous information vacuum can surely only be explained by one of two facts - there is nothing, literally nothing, or alternatively there is something pretty seismic about to occur. And I'm afraid a few medium size transactions aren't enough for me to think it's going to be huge game changing news. Someone give me some hope here. I saw a guy in the pub this evening wearing a 'Tanzania' football shirt, which was a bit out of place in West London, but beyond that....... heaven help us!
With such a large trade, patience isn't an option. All these shares have to be hoarded by the mms without pushing the SP much higher. The buyer could have a maximum price set for this trade so the mms will be very keen to keep the SP lower while this deal is cut. It can take weeks or months for this order to take place if it's really big. A trade can be hidden until complete if the buyer can prove it would spook the market or cause an uncontrolled rise if released. I think we will have to wait for official confirmation why this stock is being purchased. Another coincidence to note is these large deals often take place in a news vaccum........very coveiniant ; -)
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.