Member Info for beardozer

Feeks you make yet another good point! It begs the question: why would Anglo American pay "an inflated $5.5 billion for the mine at the peak of the commodities boom"? With certain commodities rapidly running out I would argue we're in permanent boom territory as long as each commodity lasts. There would appear to be plenty of iron ore (but maybe not the right type) to go around ATM but even iron ore will eventually end up in short supply. Maybe by then we'll have colonised Mars and found nothing worth mining!

" If the licence is reinstated which I could see happening, then possibly huge upside here." I hope not - I'd much rather take the compensation! LOGP is dead - long live LRES! Wouldn't surprise me if PRD took a 20% interest in a new Barryroe licence bearing in mind the Boldy connection. At the same time, who would want to be involved with Goodman?

"What would 4000bod look like in terms of share price?" At last, the $64 million dollar question! And the answer could be $215m, roughly one hundred times the current Mkt.Cap. Based on: 4000bod x 7 x 52 = 1,456,000 barrels per annum. Assume $60 per barrel with a profit margin of 14.46% implies $12.64m profit per annum. Assume PE of 17 implies Mkt.Cap. of $215m (£161m in proper money). Hence, an SP of 2.66p. Does that sound about right bearing in mind I must have overlooked something?

Why is everyone ignoring "Approaches received from multiple parties interested in the development of the Zanaga Project. Discussions continue with various parties, and the Group will provide further updates in due course." ? It fits my analysis that the RAM-raiders were never serious and are desperate for a bigger boy to take over.

Ever thought about re-reading what you've written before posting? I'm finding it incredibly difficult to understand what you're trying to say. You might find the SP priced below the warrant exercise price "intersting" but I think it's inevitable!

Only your second comment on this board since 3 Jan 2020 in which you mention "Egg on face comes to mind but on which face?" so welcome back! The egg question remains very pertinent. As for a guaranteed 15p if RAM prevail I think it's highly likely but not guaranteed. Much better to believe a higher offer will materialise after "Approaches received from multiple parties interested in the development of the Zanaga Project. Discussions continue with various parties, and the Group will provide further updates in due course." Multiple sounds good! I'd prefer to see an auction rather than discussions behind closed doors. There's far too much mutual back-scratching behind closed doors! It's time someone scratched my back! I hoped for 25% up on Monday but 10% on Tuesday is a step in the right direction and it's up again at the moment but the queue of punters following the money is somewhat disappointing.

"While the Republic of Congo could be suitable, current market conditions are less competitive than those in other jurisdictions. The Group continues to explore locations near steel producers that offer lower-cost long-term gas and power tariffs to improve investment opportunities."

So they're thinking of moving the mine?

PPP certainly has a "chequered past", to say the least! Incredibly, "since inception, and for many years thereafter, the company did not have its own bank account and a third party managed and processed funds with the most basic level of oversight or protection." Hopefully, after trading is resumed, the company will be squeaky clean, do things by the book and not put a foot wrong.

PPP currently suspended from trading but they say they are "focusing on identifying, reviewing, and then acquiring one or more material oil and gas assets currently under consideration, in Canada and/or the United States." It's a shame those assets are in Oklahoma but Kalugin presumably also sees value in TOM.

The UK-based company Pennpetro Energy plc announced on October 16 2025 the appointment of Mavriky Kalugin as Executive Director and Chief Operating Officer (COO), who will be responsible for the company’s technical and operational activities.

Kalugin has 20 years of experience in the oil and gas sector and vast expertise in managing upstream and service companies, greenfield development, and production optimization.

Over the previous five years, Mavriky Kalugin worked for Ukrnafta JSC as upstream advisor to the chair of the supervisory board, deputy chair of the executive board, and executive vice president for production and refining. Thanks to his new approach, Ukrnafta has managed to stabilize production of hydrocarbons despite a tight investment programme.

Earlier, Mavriky Kalugin held senior positions for Petrofac, Cairn India, BP, TNK-BP, and Arco Oil&Gas. He is a graduate of the University of Idaho and a US citizen.

So that would indicate Spreadex/Cantor Fitzgerald are expecting the LRES SP to rocket after a compensation award? But when? So far, shorting LRES has proved profitable but surely very high risk from here on? Not if the compensation takes years to arrive. It's stressful enough for me owning shares apart from betting on share price movements.

Anyone who sold out in disgust/despair must live with their decision!

They certainly don't deserve any kind of compensation FFS!

What kind of world are you living in, extrader?

I have always viewed my shareholding in ZIOC as a tiny fraction of a sheet of paper held in a filing cabinet.

It's the key to untold riches and is worth far more than RAM-raiders would like us to think.

I certainly like the sound of 60p per share which would be more than acceptable - bring it on!

Presumably, prior to that offer all the cheap 4p shares would be quietly hoovered up.

Except with such a bright future they ought to be being hoovered already!

Not sure what would happen next - SP rises towards 60p before offer is made by RAM-raiders to LTHs.

That outcome would certainly boost the coffers of Herr Knauth et al who bought cheap shares in ZIOC presumably in the hope of a massive short-term return. If your musings are anywhere near correct, extrader, then the SP should rise at least 25% on Monday!

I hope you've found the time to vote Yes to all the proposals? Hopefully, the only way is up! But how high? It's a very long way to 1p from here but I'm more than happy with 1p!

Is "keep the faith" worth more or less in monetary terms than "patience grasshopper"? Sadly, extrader, you are reminding me more and more of Keir Starmer! ZIOC has reduced us to this. Since August 2025 £60k has evaporated from my PF. It now needs to rise 150% to get the money back. "You've got to know what you're doing" says my neighbour Kevin and, obviously, I don't! Yet another private investor destroyed by AIM which is 99% populated by lifestyle companies . ZIOC was the honourable exception until the RAM-raiders put the boot in. A veritable turkey waiting to be plucked! A similar word springs to mind! It's not over yet - any hedge fund would be sure to make a 50% return if they offered 40p and sold it on for 60p which is still a bargain price for any major miner. 40p = £396m

"In a 2002 interview with Michael Parkinson, John Cleese said that when he and Palin were performing the Dead Parrot sketch on Drury Lane, Palin made him laugh by saying, when asked if his slug could talk, "It mutters a bit" instead of "Not really." When Cleese eventually stopped laughing, he couldn't remember where they were in the sketch. He turned to the audience and asked them what the next line was, and people shouted it at him, causing him to wonder, "What is the point of this?" He also says that when he and Palin were asked to do the sketch for Saturday Night Live they sat down together to try to remember the lines, and when they got stuck they considered just going out and stopping somebody on the street to ask how it went, since everybody seemed to have it memorised."

Indeed, what is the point of ZIOC and where will the SP be if RAM is a Norwegian Blue? I currently require 35p per share to live happily ever after.

Dr Stephen Boldy is a petroleum geologist who led the flotation of LOGP in 2006. Having taken the company as far as he possibly could before it was sabotaged by the Irish government, I see nothing wrong with him deciding to become Non-Executive Chairman of PRD rather than remain with LRES.

Obviously, he prefers oil to graphite!

Your shares are ordinary shares and you should have a similar number of preference shares which my broker describes as Lansdowne Oil & Gas Irredeemable.

What a disappointing investment this has been so far. Let's hope tiny buys will raise the SP in the same way tiny sells have sent it plunging.

I have never expected anyone to offer NPV! Even bearing in mind future value could be multiples of NPV.

So, working down from that, all us long-suffering shareholders require is a higher offer, however disappointing.

If that's the best we can do, job done! Couldn't care less about "career, reputation or business-destroying."

They'll get over it.

The more important point you make is about losing the licence which makes a low takeover offer even more valuable to LTHs.

Imagine being invested all these years only for the Congo government to pull the rug from under us.

It's always been a Very High Risk investment but I never expected all this in the final furlong.

"At the end of the day....if companies were queueing up there would have been a better offer....and there wasn't" - incontrovertible (so far)

extrader - your last email is clutching at straws and makes no sense at all! Surely "any serious potential bidder" would've ignored all the RAM-shenanigans and made an offer regardless - money talks! However, I do agree that there are huge conflicts of interest between the RAM-raiders and the Zanaga BOD. Maybe on those grounds alone - and it's very blatant - the RAM-raiders might decide to improve their offer to such a level that no LTH could accuse them of being unfair. I still believe in flying pigs and Santa Claus but, at the same time, all shareholders MUST be treated equally! On a brighter note, on Thursday I dined at my favourite restaurant - the one I intended to dine at every month until I died post- Zanaga jackpot. It was as excellent as ever despite the courses requiring a microscope to examine. So tiny yet so mind-blowing! Nothing an extra portion of chips doesn't cure. Major discovery was an English wine which came from a few miles up the road: Burnt House Bacchus which cost £39 while it's £21 from the vineyard. Stunningly impressive - make a note, extrader!