Member Info for chrisev1

14:26

How do you think they will find 39 million?

I guess Burgundy thought we will pay upto $39 Million for this cup of oil - think about it!!

I really don’t know why you keep moaning and winging like a 2 year old. If you didn’t want to take a chance you shouldn’t have invested in a junior oil exploration company drilling in Alaska. You knew the risks.

I’m waiting for the quarterly report. Should see a tick up then. Hoping for another 15% to 20%.

00:14

Scott,

You sound just like Donald Trump. Never mind. When I give my opinions that is just that, my opinions. No one should take them as gospel and that is the same for everyone here including yourself. In this case just because I didn’t go into great depth about the financial side doesn’t mean I’m trying to hide anything it just means I didn’t think it was worth mentioning at the time. I’m not like you and have the time to write an essay for every point I make.

15:28 Scott

07:59

chrisev1 - I see you keep comforting yourself that the Burgundy deal is welcome. Hey-ho. Direct question for you. You posted the following: "...so that means we just need to pay for Namibia (part of anyway) in 2026." Can you and will you detail for the forum 88E's cash payment obligations to their Namibian partners in order to fulfil the terms of the farm in agreement? If you cannot or will not detail those obligations, and you've refused to do so thus far, why is that? Is it because you have calculated 88E has insufficient cash at hand to fulfil their obligations and thus will be unable to deliver on the terms of the farm in agreement? Are you trying to pull the wool over the eyes of people who read your content?

I said the details are already on the RNS and I told you to look for yourself, which you have already done. So why do you want me to? If anyone else wants to see the terms then it there. In terms of getting the cash I’m not 100% sure, I have trust in the BOD to come up with the money.

08:41

I saw that as well. But something is not right. It says buy at 0.08 and sell at 0.08. I’ve not seen that before.

The more I think about it the more I like the deal we did with Burgundy. Ideally it would have been better if we had the money to pay for further drills, but we don’t have the money. By doing the current deal we do not pay for the next drill. I don’t think we will get the farm out done for Project Leonis so that means we just need to pay for Namibia (part of anyway) in 2026.

If Phoenix gets into production we will still have at least 25% income coming in.

00:45

You know (or should know) that Dave got his name by saying there was oil on his drills but didn’t produce any. Ashley produced oil on his very first drill. That is the difference. I am not saying it will be commercial, that is why we are doing further drills, starting next year.

How can you say Duster Ashley. He has proven oil and Burgundy have great faith otherwise they would not be spending up to $39 million.

20:34

Scott, a lot of questions. You say what happens if Burgundy says they don’t intend to invest at the end of 2025. I’m sure 88E have some assurances and I think it’s more likely they will invest more than not.

Project Leonis - the BOD have already said they need a farm out partner.

Namibia - you can find out yourself the terms of the farm in and when the money is due.

I think a lot on here have missed the point of this farm out.

How can we afford to pay for 3 projects within the next year or so. Completely unrealistic. This way we don’t have to pay for one, still keep money coming in (if commercial) and concentrate on the other 2. We are not one of the big boys, we have to prioritise.

Scott:

I take it you have just read the RNS that has been put out?

15:08

Sorry to disagree, but the wording of the update was awful. They gave very little information apart from not testing the main target. Unless I mis-read it. The Webinar gave better information.

There wasn’t an uplift when Recon released the latest update as the wording was awful. No wonder why their own shares went down.

Here is a link to the Recon webinar, gives more information to their recent drill in Namibia:

https://www.reddit.com/r/ReconAfrica/comments/1iouwqx/webinar_and_conference_call_replay/

Idiot troll.

No mention of Project Longhorn.

09:04

Prices on LSE are just an interpretation. Normally fairly close but not always spot on.

00:36

Just expanding, the CEO said:

The primary objective in the Otavi above the main fault was not penetrated due to seismic uncertainties, however, the Otavi was penetrated at predicted depth below the main fault, which contained evidence of oil.

There was oil below the main fault and they are currently further testing the side wall cores. I guess they will give the full results when done.