Member Info for Aimster

Posted 22 Feb 2021:
“Tanzania’s president admits country has COVID-19 problem
President John Magufuli’s comments come following WHO warning over the country’s ‘very concerning’ coronavirus situation.”
Could be the reason for the drop

Posted 22 Feb 2021:
“Tanzania’s president admits country has COVID-19 problem
President John Magufuli’s comments come following WHO warning over the country’s ‘very concerning’ coronavirus situation.”
Hope it doesn’t effect progress.

PoC .... I’m a little confused. Im not sure what situation ARA would have to give AEX $35m. As far as I’m aware after drilling CH1 the decision is to either go for an EPS (early production system) which could be say LNG or build a pipeline to the processing plant (albeit not sure of the customer base) OR full field development where they drill multiple wells and then build a suitable size pipeline. The FFD could be to supply gas to Kenya and also to heat the oil pipeline (via electricity generation). Either way the project would spend most of the development monies.

All day using HL can’t get a buy quote for £2k but can sell at 1.175p ??

Blackgold ... The big problem here is that most investors realise now that this is ‘dead’ money. There is a 99% chance that nothing of interest will happen until sometime in H2 and probably more like Q4. So IMO it doesn’t matter what happens with SCIR.

Vegas... it looks like wishful thinking from yourself and spawny. The RNS clearly states “ construction programmed” . Programmed means Planned / Scheduled. So construction scheduled for April with 2 months work and then spud in June. ALL work in Q2 but the drill part at the back end. You can’t spin the facts.

Guercif MOU-1 well pad construction programmed for April 2021. So that’s April & May for Well Pad construction and the associated groundwork’s and then hopefully a spud sometime in June.

Yes. Some PIs that sold up prior to the rise are attempting to deramp in order to get back in at 1p. Why else would someone spend so much time on a BB that they are not invested.

Agreed (£75m MC) after CH1 if still owning 25% of a world class asset.

Guercif MOU-1 well pad construction programmed for April so spud date when? July/August?

AA ...yes obviously.
After Tom Reynolds interview yesterday quoting a deal in weeks rather than months perhaps an announcement mid-March til end of April at the latest.

A lot of truth in what you state. Rumours that they considered crypto & blockchain but had seconds thoughts. Any RNS with blockchain in the text and the SP takes off!!!

Colin ... I thought that you had sold up a few days ago? ... sounds a bit like sour grapes. Perhaps any deal is on condition of a Ruvuma sale.

Bamb ... what are you on? If we get to 20p which is £100m market cap I would be over the moon!

Hope it’s not a just lot of hype. Lots of surface analysis had been carried out but the depth analysis carried out to date has used 2D seismic data from the 1980s. Just hope the 3D seismic finds some nice big pockets of helium.

A line in the sand was drawn at the end of last November with the announcement of the development plan for Ruvuma with the associated timescales and costs. We know that it takes roughly 6 months to carry out a business sale with negotiations, due diligence, etc. so IMO that gives the BOD till around May to bring home the bacon of a sale or part sale if it’s going to happen this year.
Last month Bigdouble approached the BOD with the possibility of pushing for an EGM to demand a strategy update. That ended with Bigdouble posting “ I may even take a massive gamble in the next few months and double my stake.”
Ie Bigdouble doing a big doubling of his stake.
I plan to stay in here for H1. The SP will double in an instant if a deal is announced. Imagine yourselves being out when that happens!!!

“ Not sure how our share of drilling costs will be treated.”
Scirocco have no drilling costs associated with HE1. Scirocco are just shareholders like any PI and have no influence at less than 5% holding. That’s why we have a delayed RNS release on news for HE1. Scirocco BOD doesn’t know about it until it’s released at 7am the same as us.

BlueDiver ... I have a small stake in HE1 and will pile in when the Spud date for the 1st drill is announced. IMO HE1 have set themselves a too aggressive exploration plan during Tanzania’s long wet season. I hope I’m wrong. On AIM it’s best for the SP if a company under promises and then over delivers. Most the investors here know the timescales and some inexperienced will get nervous when delays occur.
Also there seems to be a lack of pump and merchants around now, that newbie investors follow like sheep. Remember DYOR.

J2M... I would assume that over the last couple of years there has been some type of management power struggle. The 2 Australian founders of HE1, Tom and Josh don’t seem be around anymore. I know Thomas Abraham-James (original CEO) has gone. Not sure about Josh Bluett who was technical director, as his LinkedIn profile still has him as Technical director of HE1?? I’ve never had good experiences with Australian miners/o&g. David Lenigas as a prime example. Pump & Dump merchant. Let’s hope they were pushed rather than jumped.
Ps. Thanks for the video links that you provided a few days ago.

I’ve just reviewed the latest HE1 presentation as highlighted in RNS dated 20 Jan. Slide 15 of 18 titled Rukwa Exploration Timeline was particularly interesting.
Tanzania has a long and a short rainy season which affects this type of exploration. The long rainy season runs from beginning of March until the end of May with the short season in November and December. Ideally HE1 should carry out 3D seismic acquisition in January and February, processed the results during the rainy season and then start the drilling campaign at the beginning of June. The plan shows the 3D seismics starting at the beginning of February and I suspect that contract negotiations have delayed the start and IMO put the project timescales in jeopardy. Also the normal process of subcontractor contract awards for Seismics and Drilling are announced well in advance of the start the project. Tanzania is notoriously slow at making things happen mainly due to bureaucracy. Let’s see what happens in the next couple of weeks.