Member Info for closettrader

TLOU featured by Zak Mir on ********** today......initial target of 2.8p ('which should be hit pretty soon') and next target 3.3p........

....and can't buy more than £170 worth on Barcs........

For those that didn't see the recent interview on ProActive Investors with Colm Cloonan, FD of TLOU, here are a few snippets:
- Recently received A$5m from Dr Ian Campbell (at a premium to the then current share price) a HNWI and long term committed supporter who wants to get the project into development and beyond
- We are keen to get the project into development as soon as we can starting with 10MW, on to 25MW, building up to 100MW and more
- We're currently undervalued.....and have massive upside potential
- 100% owned, onshore gas development in a stable jurisdiction - Botswana is an African middle income country with a huge power demand
- Primed for significant growth

All looks very promising..........

How many other companies are sitting on a resource worth over $100 billion, partnered by an enormous company to help exploit the resource, in a country where use of the resource is vital to keeping it financially solvent and where the Government is finally now realising that it has to move forward on the project.......all at a market cap of £12m?! Nope.....can't think of another one........

He also urged the government to solve the energy crisis by encouraging the use of coal in power generation.

"We have to use our own coal. In addition to increasing investment in industry, environment-friendly energy cooperation will be needed for the development of the country," the FBCCI chief said.

https://www.bssnews.net/business/92126

I know it’s aspirations, but can someone tell me what WCAT actually owns or what it does?

Much as we await in anticipation of a rise here, I was also excited at the recent large trades above the going price. However, I then realised the 2 smaller trades add up to the larger trade…… so might this have been just a roll over?

Nice shout out from Nadhim Zahawi on Question Time last night - when discussing green energy Zahawi was referring to all the water around the British Isles and mentioned the 'fantastic' company Nova Innovation (I think he called it Nova Technology) involved with the huge potential of tidal energy.

From a previous news item (apologies for the caps): SCOTLAND’S TIDAL TITANS TEAM UP TO TURBO CHARGE THE TIDAL ENERGY INDUSTRY
By Admin | November 9, 2021 | 0
SCOTLAND’S TIDAL TITANS TEAM UP TO TURBO CHARGE THE TIDAL ENERGY INDUSTRY
NOVA INNOVATION AND ATLANTIS ENERGY DEMONSTRATE THE HUGE INTERNATIONAL AND DOMESTIC TIDAL ENERGY OPPORTUNITY TO SNP WESTMINSTER LEADER IAN BLACKFORD, AND CALL ON THE UK GOVERNMENT TO BACK AN INDUSTRY THAT DELIVERS JOBS, INVESTMENT, AND HOMEGROWN RENEWABLE POWER

Still tracking up nicely.......now 7.05/7.30 with buys at full ask.........not many Companies have over £100 billion worth of reserves, especially at a market cap of £15m!

Consistent edge up on smallish buys......any large or consistent buying and this could move very quickly......

Thanks guys .... having delved further with your help it was indeed the Ntorya-1 drill in Feb 2012. The well was drilled to 2500m with Aminex, Tullow and Solo as partners and had no gas shows (it was anticipated that it would be found at 1800-1900m). Tullow dropped out and Aminex and Solo carried on and found a 25m gross interval of gas bearing sandstones (in 2 sections - 3m at the top, 16m below) at 2660m.....only 160m deeper from when Tullow pulled out...... thoughts were that Tullow were looking for oil, knew that only gas had been found and let the other partners carry on. With the way the world has moved on since gas is now obviously of much more interest.
Subsequent testing found the upper section flowed gas at a maximum rate of 20.1 million standard cubic feet per day (the equivalent of 3,350 barrels of oil per day) and an estimated 139 barrels per day of 48 degrees API condensate through a 1" choke. The lower section (5 times bigger!) was never flow tested.
I think my connection to oil was that oil shows were found around 3000m in the 2010 Likonde-1 well drilled in 2010, 14km to the north of Ntorya-1.

I have been in this share a looooooonnnggg time! All this Twitter talk of potential oil in our licence reminded me of a situation regarding an early drill (Likonde-1 or Ntorya-1 maybe) around 2010 in the Ruvuma but unfortunately I can't remember the details. I think it was either Total or Tullow that drilled a well, supposedly reached their TD target, they abandoned the drill then another operator came in, drilled a further 50ft and found oil! Does this ring a bell with anybody......apologies for the ramblings......just shows you should take notes on your investments!

Just a reminder of the potential of the Ruvuma basin from the results of the NT-2 appraisal well (March 2017):The overall results of the Ntorya-2 appraisal well have ‘substantially exceeded Aminex’s expectations’, according to a statement from the company’s CEO Jay Bhattacherjee.
Ntorya-2 was drilled in the onshore Ruvuma Basin of southern Tanzania, on the Mtwara License which is governed by the Ruvuma Production Sharing Agreement.
Limited test flow rates with a 40/64” choke produced ‘dry, high quality gas’ at an average stable rate of 17 million cubic feet per day, or 2,833 barrels of oil equivalent per day.
“Now we have the potential for a commercial development project in the Ruvuma Basin,” Jay Bhattacherjee said.
“Ntorya-2 is currently being suspended for future production…the Ntorya-2 test clearly supports our belief that there is a considerable gas basin to be exploited in our Ruvuma onshore acreage which we are looking forward to developing,” he added.
The well was drilled to a final total vertical depth of 9,169 feet. At 8,507 feet, the well encountered a gross gas-bearing reservoir unit of approximately 167 feet.'

Jay Bhattacherjee, CEO of Aminex, commented:
"A tripling of resources in the Ntorya appraisal area is clearly excellent news for shareholders and partners and highlights that the Ruvuma PSA is a basin that is of national importance for Tanzania. We continue to work directly with the Government to gear the near-term work programme to fast track production to both local industry and ultimately into the national pipeline."

Is that taking into account we are only due 80% of the settlement?

Pressure building up nicely here whilst awaiting seismic results over Ntorya gas field - 'Aminex, with a 25% non-operated interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex) and the carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field, currently scheduled for the end of 2024, at zero cost to the Company.'

.......and what's our MCap............£9m!!! Can't buy on Barcs.....and I'm not surprised!

Always good to have the potential value of the operation brought to the attention of potential shareholders: 'Each milestone specified in the Consultancy Agreement represents a significant step towards developing the proposed multi-billion dollar Coal Project and Power Project.'

Who remembers those glory days where the SP was fluctuating around the £2.00 mark.....with all that talk of a £10 buyout...............ah yes! The amazing thing about this share is how few shares there are available even after all these years.......the management have always been conscious of trying to keep share dilution to a minimum although this latest announcement will obviously have some effect on that but, as stated in today's RNS, 'The Board is acutely aware of the potential dilution arising from the Consultancy Agreement. However, in the opinion of the Company, the value of the services provided by the Consultant is expected to significantly exceed the fees incurred if successful. Accordingly, the Board has concluded that entering into the Consultancy Agreement is beneficial for GCM and in the best interests of the Company's shareholders as a whole.'

Interresting line indeed.....can't buy on Barcs.....

....and the most astonishing thing about GCM is that, even after all this time, there are only 187m shares in issue.....when it moves, it moves quick.......