Member Info for Banburyboy

Yes - I think I would have done similar. Lots of positives.

Of all the RNSs the one yesterday gave me the most reassurance because.

1 - Colin will look pretty stupid if he doesn't get a deal. I think it's most likely.

2.- All the risk of a dud sits with the investor. The minimum payback for them as I posted yesterday is 200k barrels. I think 500k plus is nailed on as a floor on expectations with a range presumably up to 2m.

I think the SP downplays that key fact. The investor has seen the flow data and its good enough for them to carry the whole risk. To me this is superb.

I billion shares is Bothero and Black.

Bothero is the guy loaning RRR money as his holdings declaration was 4 days after the 400m issue for debt conversion. ( ISA man).

So any billion share subscription would push both up to 20% holders [ assuming they took it up and I am right]. If its all Bothero it takes him to 25% territory with company owing him money.

All IMO and peicing together the dots as the company tell us very little as the approach to vote information shows.

Risky too mum beer last night ?

2m barrels so $140m

Still good news although 2m is top end.

This drill is about proving the concept and applying it to other potential wells in the field.

Happy to hold.

Thanks Ajay.

I clearly owe the company an apology. Where did you get the figures.from ? Were they published ?

I billion is not a lot looks like some very major PIs chose not to vote. Wonder who Black ? Botharo ? Topham ? POW ? .

Interesting thanks

Https://www.lse.co.uk/rns/RRR/result-of-agm-tgujlvh5p1pchtz.html

There was a time these cheaters used to publish the election result.

For all we know they could have just ignored the mandate as they did not like it. Show of hands chaps.

Run by the few for the few

The lender needs an outcome of at least 200k barrels to get there money back.

That's derived from 200k barrels @$70 = $14m - half to investor to break even on $7m investment.

Obviously this ignores taxes and the fact that the invester share might be lower so 40% or 30%.

Can't see an investor putting up this level of cash with a strong view that at least 500k barrels is nailed on.

The bigger prize is obviously proving up the wider area and method of extraction.

I'm really happy to hold here.

There's absolutely no point in voting. It worthless if they don't present the result and resort to a show of hands hands at a minimally quorate meeting.

Anyone know of another company that does this ?

This and Bells proven record of not facing up to bad news and making up stuff to fake progress has all the hall marks of North Korea.

Incredible stuff.

Tray great post.

RRR is mind boggling.

He doesn't even have the nouce to big up RRAL and present that as the jewel in the crown which given how much he's gambled I would hope it is.

Show of hands - you could not make it up.

I wonder who of the four people present voted no.

Bell probably raised both hands in his duel role as Chairman and Cheif Executive.

If FASO is our best asset agree switch the lights out

Adon or anyone else.

Newbie question.

I'm interested in the up to 2m barrel estimate. Will there be any CPR / professional opinion on this before they drill the lateral ? Or does that happen after ?

Thanks

Here he is world's greatest investment advisor.

Relevant post for once no neighbours or gold price or lithium muti national merger nonsense.

RRR is in a good place :)

Joining the prediction competition Helpful ?

Talkinto that was more than a chuckle it was priceless.

Legohead at 6.30 ask him how much they will export and sales income.

He's massively bullish

- think we have mentioned 200 tonnes !

- thinks that's quite satisfactory.

- predicts 200 a months for a few months then increasing as we establish the pipeline.

- partnership with extremely serious people with large expertise in production and sales.

Very keen to tell listeners it's small scale as RRR are funding all the pipeline its a significant investment for RR and they need slow consistent sales to " recycle" there initial investment.

Which begs the questions where is the 200 tonnes and our substantial investment.

Surely he could not have made it up :(

Towards the end and this is Dec 23 he is mega bullish [ about 8.30]

The only people who could have delivered

- Lithium exports

- settlement of DRC

- near erm FASO production

Are RRR. He says no one else could have done it.

You could not make this stuff up:)

Just to clarify Dukey so 1.050bn shares ? [ 350k at 0.03p) .

To be honest Island I would take that.

It completely derisks the drill which ultimately is the key to the much bigger prize.

I hear on other shares lots of talk of risk reward.

For me the floor here is say 2p and it could be anything.

Next steps = sign deal then drill.

Anyone know if reserves estimate up to 2m barrels will be supported by a future CPR ? If so that's also next steps.

My read Island is this a free carry ( not a loan) for a less than 50% share of benefits ? Anyone disagree ?

If that's the case invester will be keen to crack on.

Good luck all

So, the big show of hands day arrives.

Time for the RRR sweepstakes to kick in.

Three variables

1 - what date will next issue be ?

2 - what headline price ?

3 - How many shares ?

So, twenty points for each one called correct and ten points for either (1) a day either side or (2) within 15% of the headline price or share issue.

To start the ball rolling

Banbury

Tuesday 15th October

0.035p

1.6billion shares

Nike I have reserved the no issue space for you, so lets hope for all our sakes you win.

Think this is the bottom.

Solid balance sheet

Nike I would expect no less from you :).

" An excellent and believable interview with Ettie as expected. The president of DRC wants to raise the economic profile of his country and his people, and has therefore invited the only credible person who can to that - Ettie. All systems go"