Tower Resources #TRP, Hardman & Co and Edison speak at London South East’s Oil & Gas event Watch Now
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My 2:25 post includes "Then $30M will be on the table and" at the end.
This shows how my mouse moves the cursor while I am typing with my right hand and using my left hand holding the screen so it lights up this rotten keyboard's pale letters with the screen out of sight. I typed that bit and it was not on the screen! This computer does not beep if you type into a void, so I forgot about it! Clearly the cursor was at the bottom of the box.
I'm wondering if the stress on the casing makes the keyboard field a key sequence that hasn't been typed because without a click on the mouse it doesn't matter where the mousepointer goes. Perhaps I should stop typing while lying on my back.
Wednesday 9:27 post has the link to Colm's podcast, the last 2 minutes of 10 is so heartening .. please listen to them.
Colm's final words were of more interest NE.
Anything about gas flows is "arty farty" it is evident the timings are "airy fairy", even for expert CBM engineers.
But the finances, and Colm is at home there as F.D., is known and those last 2 minutes are incredibly positive, Andrew Scott pressured him and BDC sound ready for the challenge whether we need $10M or $30M.
Whizzer has been asking what the board have been doing. I reckon they have been looking for a way to get the ball rolling - and they have found it!
On many occasions TLOU have stated that solid coal agreements are quickly agreed because Botswana are familiar with them. They, understandably, expected the same process for CBM. Alas no!
So what are they attempting? Imo they are just getting anysort of agreement from the govt , a fart in a collander for a 'cent' will do - and then Botswana will hopefully be up and running on CBM.
Bit like my Xmas shopping when my wife dragged me out - took ages to choose the first present (reluctant me) but once I'd bought the first one I used to be happy go lucky and she loved it , and she loved giving, bless her.
Good posts guys. Add to that Colm's opening words on the last interview, the gas flows are, 'going fantastically well...'
We'll see what TG's interview brings but I expect it ot be more of the same.
Keep in mind the final sentence:
BDC is owned by the Government of Botswana with a mandate to provide financial assistance to commercially viable projects.
The company, TLOU, describe their mandate as to assist 'COMMERCIALLY viable projects', which has to be a clear signal to the market that flow rates are commercial, if not yet stable enough for the engineers to sign off. The Botswana Development Corporation (BDC) is under the direct control of our Ministry and Minister, the MMGE. The company reported this, 'During the quarter the Company was very glad to see the appointment of Honourable Minister Lefoko Maxwell Moagi to MMGE and are working closely with the Honourable Minister to deliver Tlou's CBM project.'
Interesting thoughts there Brad. Well worth recalling what the company actually said. The BDC have produced a term sheet for 10Mw, and the company is negotiating even now to get the PPA underway:
To prevent further delays and allow Tlou to secure finance, the Company has requested an initial (or interim) PPA so that development of the Lesedi CBM gas-to-power project can commence sooner rather than later. This initial PPA could then be superseded by the final PPA once the MMGE has completed its assessment and negotiation.
Crucially for Botswana, Tlou's project is consistent with the Government's objective of a Botswana which is energy secure, has diversified and cleaner energy sources, and is a net energy exporter. The Government will also benefit from the development of a new industry, additional employment opportunities and a cleaner source of local independently produced power, ultimately leading to energy security for Botswana.
The Company's continues its negotiation with Botswana Development Corporation (BDC) to fund development of the first 10MW of the Lesedi CBM Gas-to-Power project in Botswana and has received an indicative non-binding term sheet as the negotiations have progressed. This initial proposal forms the basis for further discussion and negotiation prior to finalisation and remains confidential. Further details will be provided if and when a binding term sheet is agreed. BDC is owned by the Government of Botswana with a mandate to provide financial assistance to commercially viable projects.
I reckon the podcast will give details of a PPA proposal for 2Mw rather than 10Mw - as an interim agreement.
That would then be in place opening up immediate talks with BDC for $10M which will hopefully save the placing everybody fears but also boost the sp to make a placing more beneficial for TLOU and less dilution for us.
Personally, I think the BDC agreement will be enough as long as they give us enough grace to get the generator installed and power lines up before we start repaying them. I also suspect that having got the ball rolling, they will expect it to gather moss as flow rates of the order they expect materialise. The interim agreement can then be reviewed and amended back to the current plan.
I don't see why we cannot discuss this openly with the relevant govt forces. If this is the plan, it will be an interesting 2020.
It seems to me that it is just about the only way to achieve the TLOU project plan timings.
It also keeps the project on the rails so neither party need risk billions of dollars that will bring about another Sirius disaster.
Then $30M will be on the table and
Restore defaults seems to work.
I was talking to a fellow dog walker yesterday and mentioned shares.
He recommended gold! Physical gold.
Reminded me I have an ingot that my wife's uncle from Canada gave me years ago.
I found an identical one on Ebay .....
Added a second webbrowser into my search engine for febugging and got a warning message from Mcafee that LSE was corrupt! Program was looping so when it said LSE was unavailable I did not know if they had blocked me or if it was Mcafee?
Mobile was ok so saw the 2 posts since and knew it was available.
I have finally found out how turn off the firewall. And it must have been Mcafee (aka BT Vrus Protect).
It is off for 15 mins so now need to find how to removed LSE from the block!
I am worried the jockey was put on the horse in this race before this particular horse was too much for him to handle And the groom had no idea how to look after the horse.
Personally I'd just like them to pull their fingers out and generate some revenue before I die !!
In fairness TG has not taken the sp down at all.
Investors have done that.
TLOU are doing exactly what they set out to do - but some of us decided to change it into a race.
I have bet on them completing the course , others have bet on them finishing in the first 6 , and others on winning the National!
I am now happy, my horse is jumping beautifully and doesn't look like falling, and importantly it has completed the race twice before!
The others are worried about the opposition, either any 6 of them or the whole field , and are yelling at the jockey to speed up, some are laying their bets because they are worried about the finishing positions. Their comcern worries me in case the jockey rides too hard and my horse falls or stamina fails at a faster speed and is pulled up! Yelling at the jockey can have consequences?
I've got £250 at 2/1 to complete the course i.e. slowly slowly catch a monkey is my advice to the jockey.
Not a threat. As he’s took the sp from 17p to 3.9- 4.2p area. He needs to inject some positivity into this god forsaken share. Anyway you seem awfully interested in what I do, your like a stalker. What I do has absolutely nothing to do with you.
that sounds like a threat to me. or else what? you gonna sell your other half ? dont make me laugh :D
Thanks minor, he better have something positive to say!
Now my viagra pill has worn off (joke, I should be so lucky to have a purpose) I have watched Colm's last interview again with Andrew Scott. The soon word was not on gas flows but on PPA and BDC financing.
The whole interview sounded superb, TG could not have improved upon it imho.
It is 10 minutes long but here is the link if you need to refresh your mind.
The PPA/BDC summary is in the last couple of minutes and that alone is enough to convince any PI I think.
The early part is all you need to to know about gas flows - a brilliant layman's explanation of where we are and definitely no mention of soon. It is all consistent with the RNS so I'm wondering my head was at on Monday.
Sirius Syndrome as NE suggested looks very likely - having Tlou as my only sensible way back to beating ISA interest rates over a decade was never in my plans. I have £49k in USOP and Avanti on GXG and Jenkins and theoretically worth 12.5p and 12p per share but I have written them off in my head. Avanti has been fantastic technically, but never really sold themselves to Africa and the Middle East. Who knows, once we supply CBM electricity perhaps Avanti will have a colossal demand for broadband in and around Botswana. My great great grandchildren might benefit after all :o)
I don't have many shares in either in fact, they did not come cheap at around £3 and over £5 each.
But how cheap is TLOU? I feel like I'm in a dream when I see 4.15p now puts my account in the black on each TLOU entry on AIM.
My ASX average is 9.6c against 8.1c last night but I have demonstrated before 8.1c is a wet finger in the wind.
Yes, Sasha has said that media is being lined up from Botswana.
Minor is it true gilby is going to be in an interview this week? Has Sasha confirmed this?
Quite so Brad.
Once the coal around the well has reached the limit of its permeability, and the pumps win out, the the gas flow should increase exponentially - at least for a while (months/years).
Those coal fines will be washed downstream by water but am I right in thinking gas flows will leave anything heavier than dust behind?
So the growth of the flows once gas flows is probably going to be something like exponential.
Perhaps we coud throw some baked beans, guiness and senna tablets down the vertical bit of the lateral wells :O) they work for me.
Good post MM
It is the short term trade mentality of AIM - most 'holders' know little of their investment and see the SP down 15% so presume that the news was so bad, it was worthy of a 15% drop
I actually posted yesterday saying I didn't expect the market to react so badly, an interview could certainly help clear a lot of these 'concerns' investors currently have, then hopefully we can venture north
I'll wait to see if there is an interview this week. The latest RNS was simply a Q4 2019 summary. There would have been nothing new anyway. We'll see what this week brings. It would be good to hear if flow rates have increased even if not commercial and what the upper and lower bounds are. A technical summary would be good also.
Kind words guys , good luck whichever way you go.
NE, as usual I think you're right.
Thinking about those coal fines cluttering up the channels and there is the problem!
What a decision to have to make?
1. Speed up the pumps to 300rpm(if that is the max), and, maybe, block the channels to upset everybody!
2. Reduce the pumps to a more gentle rate, extend the time to complete the the dewatering and upset everybody because they are impatient.
Choice 1 risks having to bring the gear back to Lesedi and postponing Mamba.
Going back to MM post, as well as the Aussies knowing CBM better than us, they no doubt know the TLOU better too!
Pehaps St. Anthony has been ordained already out there? It is probably Aussies who shared the 4BN from Arrow and Sunshine gas? They know a good thing and penalty kicks are not always turned into goals. All our money is on the hat-trick I think.
Anybody managed to get 123movies onto KODI and a Fire-stick?
Brad that’s nothing to worry about, I had a little over 14 grand in here until yesterday. Sold half so my loss is quite substantial, had an average of 7.8p. So not good but I’ve put that back into txp plus more. I’m still looking to get the rest out as well as I have had enough of the lack of progress here and have just lost faith of anything getting done in a timely manner. For me there are 2 many unknowns at this time. Hopefully minor is right and tg will be doing an interview this week. God knows he needs to.
Sirius Syndrome Brad not a panic attack would be my guess. There's 85,000 retail investors out there going through the same thing.
The take away for me from yesterday was there is no guarantee here but That TG is abiding by a strategy. He gave the reason we are moving slowly and it wasn't necessarily to do with coal fines etc although they will play a part. We have two wells on the go not a full field development which would probably have hammered the dewatering. Regardless of the risks here it is important to understand that forward shareholder value comes from a commercial flow attained under the two well scenario. Slower but we haven't given up a significant percentage of the company to move faster. It's a great strategy for us if we get the flows we want.