Member Info for cperkin

It does look that way steve, still not given up hope of some reading material over Christmas just yet.

Very sorry to see this for those holding and believing the story and Geology and who quite naturally defended their investment decision and beliefs.

I hope 2020 brings better fortunes for you all.

C

Yes initially but for the same cost as ffd $35 million you get $40 million in earnings, so almost double.

Unfortunately stick the other assets has little monetary value and little hope of providing any decent size returns. Ruvuma is forecast to produce to solo $11 million in earnings in first full year of production and $40 million a year on FFD & assuming current gas prices.

Why would they worry, they have other deals to work on along with lots of drill activity if the current deal completes, the pressure would be on AEX to fund itself, not solo.

Next drill +25 year development licence would probably give you a NAV close to those figures imo. That's the point though, one drill away from a potentially much bigger pie of more gas or even oil and for a small out lay cost. Seems well worth the risk reward to me.

20 is not enough imo, for a spend of $5 million it will probably be worth closer to $50 to $100 million. Well worth the risk and if you have money coming in then no issue as AEX would fold first.

Just thinking out loud steve, but we have a good idea of how much to get into production and it's $8 to $10 million cost for solo if TPDC build the pipe line and about double if solo has to pay it's share. How long is the real issue as it is dependent on licences.

Would it not be a good time for the Zubair corp to make an offer for Ruvuma during this suspension period, prior to the licence and prior to the CH-1 double horizon drill, surely they will never get it cheaper?

Have to be a good one though and considering the CH-1 expected geological results, the new CPR that is in progress would help.

A few Short stop loses just been hit

Quite agree JR, the BOD owe their shareholders an update on the status of the deal, even if they can't give a definitive timeline or any real information.

No doubt the usual bears will then say what was the point of the RNS if they do and will moan and complain if they don't.

Same old same old.

Catch 22, only worth £15 mill tops as it stand, but with a licence +CH-1 drill likely to be worth multiples, add again for a 25 year development licence.

The CEO is in no rush to sell as stated in the video below and I am inclined to agree with him.

https://youtu.be/FZTlMhMw6L4?t=274

Till they complete the PSA negotiations Frank nothing will move over Ruvuma and clearly neither the BOD or anyone else has a clue when that will be, not sure the Tanzanian gov do either.

Hope the gov read the conclusion of the book published last week, "Governing Petroleum Resources: Prospects and Challenges for Tanzania" They have a limited time to take advantage of all that gas and will loose out to neighbouring countries who have better terms for investors and hence development that is underway for huge off shore LNG.

We had this update 1 week ago today via Bigdouble Frank. I see no need to panic at the moment, just a lot of ducks to line up, including CPR's, financing etc etc, oh and not forgetting our favourite, Government approvals!

from Buchanan

As you can imagine there are a lot of moving parts and we are working on an update for all shareholders. We appreciate you and your fellow shareholders are eager for news however request shareholders maintain a bit more patience until we are in a position to update the market.

well done adzy, don't lose your shirt today though and give it all back eh.

The Gov have already withheld money from historical gas sales in excess of any disputed tax amount, so on PSA conclusion AEX are due a refund either of the full amount or the balance owing.

A deposit of €1 million is due to be paid to ONE-Dyas within one working day of signing of the SPA ("Deposit"). If the Proposed Acquisition does not proceed, the Deposit is repayable to Scirocco (Netherlands) Energy B.V. (the Company's recently incorporated wholly owned subsidiary) unless (a) a defined Buyer Breach (insolvency or breach of fundamental warranties), in which ONE-Dyas retains the entire Deposit or (b) if the GM Condition and the Admission Condition are not satisfied but the Consent Conditions are satisfied, in which case ONE-Dyas retains €500,000 of the Deposit with €500,000 being returned to Scirocco (Netherlands) Energy B.V..

Hardly surprising, the Gov did the mining sector first and now they are doing the O&G sector. It is sector based and not AEX based.

Oman Oil Marketing Company Delegation Visits Tanzania as Part of International Expansion Plans

"Led by Chief Executive Officer David Kalife, a delegation from Oman Oil Marketing Company recently visited its new subsidiary in Tanzania as part of building on its ambitious international expansion plans"

https://www.albawaba.com/business/pr/oman-oil-marketing-company-delegation-visits-tanzania-part-international-expansion

Oman Oil Marketing Company Delegation Visits Tanzania as Part of International Expansion Plans

"Led by Chief Executive Officer David Kalife, a delegation from Oman Oil Marketing Company recently visited its new subsidiary in Tanzania as part of building on its ambitious international expansion plans"

https://www.albawaba.com/business/pr/oman-oil-marketing-company-delegation-visits-tanzania-part-international-expansion