RE: AIM Admission Appendix15 Oct 2024 12:54
Donkey , preaching what I KNOW , or what MY UNDERSTANDING IS (imho is abundant in my early posts).
Thank you for the heads up , I found the information but the link https://tlouenergy.com/aim-rule-26/ that would have been simpler for both of us.
I'd never seen that info before and it is a delight to read e.g. Stephen Hemsley has been involved from the start. He lives in the New Forest area not so far from me , and his presence as a major shareholder has been reassuring. I suspect he was a leader when TLOU raised UK money from sophisticated shareholders. That heralded the drop in SP by stupid investors who thought the price was too low despite not being offered the 4.4p share price option for 2 years. 2 years of effing Covid that ruined a great initiative for long-sufferers like us. 8p was likely not 2p or less.
A passage from our AIM admission was superb, as you hinted at, in the History of TLOU.
Not knowing things is never a disgrace imho, being told over and over again or not understanding the evidence is!
I was hazy about Seka , KE , Saber and openly admitted I did not understand the history , especially on the Royalties front!
And the I read Seka was a subsidiary of Saber!!! That was something I did not expect but I did at least consider ssomething like that was possible.
Here is that para from the link https://tlouenergy.com/download/638/ .
I never thought I'd learn more about Seka from TLOU's history than KE's , who would?
Royalties are payable to Sekaname because of their Saber connection and sfa to do with KE - who'd have worked out for themselves I ask? Back to my spreadsheet and blood pressures - should be a low reading now that mystery is cleared up.
"History and development of the Group
Tlou was established in 2009 to develop prospective CBM licences in southern Africa, principally in
Botswana. Historically, the Lesedi Licences were owned by Saber Energy, Inc. (“Saber”), and held pursuant
to a Farm-In Agreement between Kalahari Energy Ltd and Sekaname (a subsidiary of Saber). In 2009,
Tlou entered into a joint venture arrangement with Saber in respect of the Lesedi Licences and certain
other licences in Botswana held by Saber. Under this arrangement, Tlou funded and undertook an
exploration programme in respect of those licences and drilled a number of exploration wells.
Subsequently, in November 2010, Tlou acquired the companies that held the licences that were subject to
the joint venture with Saber, in exchange for an issue of Ordinary Shares and certain options over Ordinary
Shares to Talon Metals Corp, the parent company of Saber. Accordingly, the joint venture terminated, and
Tlou is now the sole operator and owns 100 per cent.(1) of its most advanced project, the Lesedi Licences.
The other licences acquired by Tlou as part of that transaction were not pursued by Tlou and have been
relinquished.
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