Member Info for Bishop190

I may be wrong, I hope not as I have a fair amount unvested, but I am not inclined to give up hope too soon. It is only 13 days since JA wrote this in the half year review:

“ . In our annual report I already discussed the events of this period up to 6 June 2020, and since that time we have continued to work on finding solutions to the challenge of executing the NJOM-3 well while accommodating the various health and travel restrictions in place, and also the natural concerns of a range of personnel across a number of different subcontractors. We are confident that this can be done, but it is not simple. ”
I guess he would not have been expecting to complete the financing within the following two or three weeks.

I tend to hold in mind the money that JA has at stake personally, he holds nearly a third of the equity, say £1.5m at today’s market cap of £5m plus his company holds £750k in loans. I don’t think he will write that off without making every effort to secure the financing.
(NB - The Shard loan was taken on 28 August so it runs to the end of February.)

I intend to continue to hold for the time being but of course everyone must make their own call according to their circumstances.

Well, look on the bright side Brig, it is in 13 days time, maybe his talk will be about how he raised the funds for the drill :-)

Cannot disagree with that JamesII.

My worry in all this is Covid going round again. If Cameroon gets another wave travel and work could be stopped for a second time.

With all that is going on it would seem harsh if it is not extended.

That’s good news Harel, thanks fir making that contact.

Certainly agree with that sentiment OB. I am hoping JA will indeed come up with something game changing, it is in his interest too!

I agree Reggie. I think if OilLR has made the deposit there would have been an announcement by now. As you say, if JA is finding a way to fund this without third parties that could well be a big game changer.
We shall see!

I agree JamesII
I will not be surprised if the loan comes as a result of the Shard connection. Shard Capital Partners LLP (SCP) has £1.1bn of assets under management according to its website and the two directors of Shard Merchant Capital Ltd which provided the short term loan are the Designated Members of SCP according to its filed accounts.
DYOR though :-)

Agreed Reggie.
Anyone who wants to can make their own assumptions from the data in the Oilfield International report of 12 March this year, it is a download on the Tower website.
DYOR as they say!

Doh, my mistake, I put it round the wrong way, it’s the advancing years effect I expect :-) Of course I meant fusion, as fission is what we have now. I should know better living as I do half way between Harwell and Culham!

Well I like even numbers so I have rounded up to the next million with 350k shares at .003696 via my SIPP trader. I hope I made a good decision :-)
No doubt the buy will show as a sell on here!

Hi Willowman, well I am only two chapters in so far but, if he is right, he busts some theories presently held by the “climate catastrophe” supporters.
I get a lot of stick from my green mate about him because he promotes nuclear, however I too think nuclear plays a part in future energy. I hope that will in future be fission not fusion though.
I think the book will be worth a read, if for nothing else, to get a view which is alternative to “we will all be gone in 50 years”. He is doubtless going to upset supporters of that extinction theory. Maybe I can add more when I have read all of it.

You are right about JA Brig, he is usually on the ball when there is something to report.
The summit looked interesting but I couldn’t really justify £195 to join!

I agree that it could be a biggie, but they have to get the extension. I continue to hold in the hope that they do and that then they get a partner pronto.

They may well be experienced @jazbo but what have they actually achieved for GBP? The principal achievement seems to be the imminent loss of PEL29. If indeed that is lost then there isn’t much left.

Thanks Sanibel

I agree, £30k is small beer, especially compared to what Asher has at stake in TRP. (Loan of $750k plus his shares).
In the absence of other takers you may be right AO about better the devil you know.
It will be interesting to hear Jim’s take on all this, I am a bit surprised that so far he has not commented.

You are right AO, but I’m not sure what is in it for Namibia to do that?

I agree with you on all counts AO. It is also shocking I think that existing holders were not invited to subscribe at 0.75p.
I read elsewhere some time ago that this company is a “lifestyle” for the directors. I was minded to regard that as sour grapes from an investor who lost money on it, however I now tend towards the same view.
Luckily my loss as of today is small and only irritating rather than life changing and I will put the shares in the “bottom drawer”, others may not be so lucky and I feel for them.