Member Info for Cocobeans

You ever worked in Africa or even visited a country there?

There is a reason why you don’t drill there in the wet season , I’ll let you find out the hard way as it’s getting boring that you blindly dismissing what is right in front of you. EVEN if they started, I guarantee they don’t finish

I am a broken record- I don’t want an entry into this company- so why post? Complete loser

Well I’m not sure about others but I’m sick of lying directors on AIM screwing retail who put in their hard earnt cash. Unlike Lorna who gifted herself 600k worth of FREE options, we actually have to risk capital to make gains and when the odds are stacked against you when the BOD are lying, it’s hard.

I know longs don’t want to hear any of this but you need to seriously stop just assuming companies are actually here to make retail money- they are not- they are here to make themselves money!

This company has never delivered on anything, they haven’t even had their drilling results independently verified as they have fount nothing.

Don’t be blind to how they engage, look at all the interviews in the past, once you actually speak to these lot you quickly realise, without a script they are clueless

I’m not trying to be a saviour but any listed company that uses a cash box to raise money that they then don’t have any intentions of using for drilling but for wages is an absolute avoid

Sack Sarah cope and sack Lorna- they are out of their depth

https://www.thecitizen.co.tz/tanzania/news/national/14-regions-in-tanzania-to-experience-above-normal-rainfall-4420092

Good luck drilling

What you talking about, we haven’t been able to drill in 5 years during December due to weather risks but now Joe has bought his £10k position, we can drill through whatever with 2 days

Don’t worry Roger thinks we can pay people in balloons going forward. Just a shame, they won’t be inflated with anything

https://crisis24.garda.com/alerts/2023/11/tanzania-disruptions-due-to-flooding-ongoing-across-much-of-the-country-as-of-nov-24

Did she say immediately and give a date?

She did not confirm that a drill pad was complete at the "new prospect", she said one was completed at the old site location- BIG difference!

Does when you have to try and truck 56 tonnes off site- unless they will just leave their equipment at a drill pad for 5 months

It’s a health and safety issue, if they still have the camp at Tai some 18km away, they have to continually bus crew back and forth, roads get washed away, cement cannot cure and they won’t be able to move the rig from site after the drill as 56 tonne won’t be trucked in thunderstorms, which is what it will be at the end of December to January.

If they roll the dice on this, they are creating a big health and safety issue and they haven’t come out to tell us how they mitigate against this

Additionally, if the rig fails again, they need to work out logistics on getting parts to site etc etc

They have never drilled in wet season before for this reason, if they do it now, well it’s a massive sign of desperation!

But hey , why not start a drill with the odds stacked against you and then throw weather into the mix

Not sure how a drill pad cures in the rain either but Lorna can cast her magic here as she is doing with managing budgets and delivering shareholder value.

Yet the biggest clowns have held this all the way up and all the way down LOL

Your happy with all thats gone on? you like loosing money?

you wasted years being invested in this company- and still cannot work it out

Any strong management team come out and explain how things will work

The Rig is knackered at the moment, why havent they told us how long it will take to fix once parts are on site

Why havent they been clear on the crew- some are contractors, are all staying on site, are they staying at TAI?

How are they proposing to drill in wet season when this has always been a fundamental issue in the past

where are they with civils for the new site location? why this location? whats so great about it? data?

what are they doing to migitgate further issues?

where are they with cash?

why are all the management team in hiding?

why arent they getting any sample sent of for third party verification at TAI?

how do they propose to open up TAI3 where there are clear stability issues?

what will be different next time

THESE PROACTIVE INTERVIEWS ARE THE WORST STAGED INTERVIEWS IVE EVER SEEN, I KNOW 100% THE COMPANY POISE THEIR OWN QUESTIONS. LORNA, SARAH AND ALL THE OTHER CLOWNS NEED TO GO AND A NEW TEAM THAT ACTUALLY KNOW WHAT THEY ARE DOING NEED TO COME IN

THIS TEAM HAS FAILED TWICE AT HE1 and have failed in their past jobs( suggest a few dig a bit deeper!!)

https://www.accuweather.com/en/tz/sumbawanga/314447/daily-weather-forecast/314447

You keep saying you have this fantasy experience and then make comments like it costing less than $1m per well

your trying to pump a trade that at the moment is going wrong

HE1 are in the exact same spot as they were a few months ago, they have enough to drill ITUMBULA but will have no other cash after that

The boards priority is always to secure the going concern, that protects the shareholders (in reality doesnt as this on AIM means dilution) and protects their jobs

so now they are back where they need money for operational and G+A and will raise during a proposed drill, which I maintain wont happen

BUT say it does 300m shares @2p is £6m- huge dilution, never going to allow the shares to spike again unless they hit success as the flippers in the placing will sell pre results (as any sensible investor would do)

so all in all there is TOO much risk to even bother messing around with this share

1. we dont know when parts will arrive to fix the rig

2. we dont know if they are even operationally ready (crew, LLI etc)

3. we know very little on the "new" prospect

4. weather - any delays and they are totally screwed

5. TAI was the prize and cannot get HE to surface, this ITUMBULA is a punt to save the company

6. if they raise and then cannot drill, they will burn all this cash and will need money again as the well cost will, as confirmed by the company cost$4m more

so all in all the company is trying to stabilise the risk and keep the interest but i can almost guarantee you- other than a possible pre placing spike, this is ending one way unless their COS of less than 10% well in Itumbula where they have limited data comes in

TAI is never happening, they will drill and have the same issues again and i dont think they will have enough mugs to fool a third time around-

so you can continue pretending you know whats going on, you dont and you can just sell in peace when it spikes a little without trying to get people trapped in a basket case stock that has the weakest management for a £30m company ive ever known

NEITHER DO YOU LOL

1. there budget didnt allow for multiple rig failurs, prolonged delays and expensive repairs

2. you cannot compare one company overheads to another

3. they had ZERO authority to issues shares HENCE they used a scummy cash box and now want the actually authority

THIS time you have no major shareholders to block it BUT you can sack Sarah Cope!

They literally are asking for authoirty to issue shares! I think you need to do your DD

Https://weather.com/en-GB/weather/tenday/l/Rukwa+Tanzania?canonicalCityId=ea36cbb591498c94095b6805065e0422512020f4817e35be69d9e610667428f6

there is no way they will be drilling in this, they wont be able to move people around or equipment safely and if anything was to go wrong with the drill mid december, getting a part to the site will be difficult

if they decide to actually do it (they wont as they also need money) it just shows how desperate they are and will be lights out if it fails

its too binary to invest here now- trade yes but dont pull the wool over - regardless of whatever happens next the BOD will leave it to the very last moment to tell the market what ive been saying for months

they arent incentivised and the nomad isnt on site checking to tell you lot any sooner!!

do yourself a favour and SACK SARAH COPE

Have at the moment is aload of traders money trying to swing trade this by painting a short term picture

Lorna was clear that the rig will take a week to de-mob, then it needs to travel and be repaired, the repairs will need to wait 2-3 weeks for the parts and there are multiple parts required and specialists

now given they are rolling the dice of itumbula next on an area they havent much data on, in the wet season, they are showing how desperate they are!

its clearly obvious they need funding, they have massively overrun and wont burn their operating pot, as thats what pays their wages

lets not forget here, whether a placing is at 2p or 1p, no-one of the board is aligned so they dont care on pricing

id be very very careful believing anything on here or from lorna until its in an RNS, she has misled the market on a number of occasions and has chosen not to front alot of important decisions

she , sarah and the non existent chairman are all out their depth!

im not sure why people ignore that its these same people that failed the first time around

TAI is non commercial- Helium might be there but they cannot get it out the ground!

They have spent over $50m have a market cap of $30m and have absolutely nothing to show for it

Licences will have an expire, if they cannot deliver something soon, im sure the government will want someone else to

the Proactive interviews are a shambles, the bloke asking the questions is a clown and its all scripted!

they are MIA and doing exactly what they did when they screwed us all with the last placing, (which they have BLOWN)

THEY HAVE GONE TO GROUND

Just check the weather out yourself

your being blind to whats going on here but hey ho, its your money!

im not saying there isnt a trade from this level to flip but this money is just another aim company spinning lies to fleece investors, whilst there were problems at site- Lorna was in the US!

I dont believe anyone has really gotten into the weeds with this company and if you did, you would be shocked!

ask Ian!

They arent re-drilling tai 3 now- so what are you on about! they are moving the rig!

There has been no such mention of timelines for drilling just timeslines for getting parts at the site!

in meantime there are 60 + people sitting their twindling their thumbs!

joe it will not take 2 days to drill lol- it will take 2-3 weeks but given they said that at tai and spent two months there- you really think they will risk starting to drill mid december all the way into january when the weather is at its worst?

you will more than likely get your 20-30% without the need to do anything or state things that arent actually being confirmed by the company

90% of what well has been drilled?

That’s my point- nobody has said the drill bit will be turning and it definitely won’t be as the rig needs to be fixed and we have been given 2-3 weeks BEFORE the parts are in country!

Of course there will be bounces in the price but dangerous to be stating that they will be drilling this side of Xmas given what we know! They haven’t even got an operating rig at this stage