Member Info for cperkin

Bucks, it could be anytime, it's anyone's guess as demonstrated by Franks list.

Governing Petroleum Resources: Prospects and Challenges for Tanzania is a good read to pass the time, thanks smudge!

Certainly feels like it bp!

I did m8, so they got an email back from the BOD that was reassuring, just like every email I have ever had back from any BOD.

I just think the whole witch hunt thing is overdone, both ways TBH

Curious you mean the post below? It seems vey benign to me, not sure it would activate such a strong BB Swat response that followed?

"Very limited, BC imho.

If I was worried that was going to be the case, even I would have been out of here by now. May I make a suggestion? - instead of applying energy towards other frustrated shareholders, why don't you direct your perfectly valid questions to the bod?'

I did last Friday, and got a response within 12mins - let me know if you want email addresses?"

GLA

Yes, two potential buyers, AEX and ARA. It also depends on if the extension licence comes with the 25 year development licence or later post CH-1 With a 25 year licence it's value will be so much higher.

I completely disagree stick, they are one licence away from the biggest drill on the licence area so far and the preceding two drills already delivered huge onshore gas. As well as CH-1 I would also like to know the true flow rate from NT-2 as I expect it will be much bigger than 17 million scuffs.

It depends which licence you are refering to steve? If it's the Extension licence then I see no point rushing to sell any of Ruvuma as for a little over £3million they get to appraise the 763 BCF 2C with the west and updip Chikumbi-1 well and the unexplored deeper Jurassic which may contain over 1TCF of gas or even the oil they have been following west and updip since the Tullow JV days.

If you mean the 25 year development licence then again I think the BOD should wait for the Chikumbi-1 result unless an offer was made that far exceeds the current offer that Aminex accepted and assumes CH-1 multi target success.

SO from my point of view wait till they have the CH-1 results as a minimum.

People write stuff and sometimes it's wrong, partly right, half truth, I see the same from the Bulls and the bears here.

Either the company delivers on the next steps or it does not, all the personal nast is just that and some of the claims both sides of the bull bear debate are equally ludicrous.

You playing bate the posters again Curious, bit like watching a re-run on a Friday night?

Yes steve the deal is backdated to the 1st Jan 19. like you I don't think there will be much left over after drilling/workover & costs from the 2019 numbers and not sure if they have started the infill well on K09ab-A yet.

€20 million earnings forecast fy 2020 and with the experience of this new team I would expect them to have their numbers in order in terms of profitability.

Not showing as suspended and back in the quick picks again, I assume its another LSE site issue due to the recent DDoS.

"Theres nothing stopping the Congolese government awarding the new licence to a super major with deep pockets to bring the Djeno into production through multiple wells."

Barking, I am not sure that is the case? I admit to not being up to speed here but do AAOG not have a licence over the block and are there not defined terms for extension within the legislation as well as international arbitration if the Gov tried to pull a fast one? A development licence is again a different beast but much the same applies post discovery within most gov legislation.

PSA negotiations in Africa always seem to be a ball breaker these days.

O&G can be many more multiples than 3 to 5, regardless the mcap was £15 mill on close it is going to be much bigger on completion of the deal and relist.

Was keeping one eye open for this but been busy, so thanks smudger

A long read but an overview of the state of play in Tanzania.

https://www.researchgate.net/publication/337534863_Governing_Petroleum_Resources_Prospects_and_Challen

Thanks to Smudger63

Guess that might give us another couple of weeks then vike?

Could well be zebbo, all I can say is that the Tanzanian Gov are only predictable in terms of being unpredictable. Just highlights what a good move the BOD have made to negate uncertainty on drill and development in Tanzania through the acquisition of producing assets.

Looks like that's it till Jan.

'The parliament of the United Republic of Tanzania is postponed until January 28, 2020. The parliament is adjourned after the conclusion of the Seventeenth Conference held from 05 to 15 November 2019 in Dodoma.' (google translated)

https://www.parliament.go.tz/news/bunge-laahirishwa-hadi-januari-28-2020

Thanks to Gaslady.

+1 Bucks, they have a limited time to monetise their off shore natural gas reserves before the demand curve is fulfilled by other nearby nations also blessed with huge natural gas resources. There is some comfort that they will need to supply gas from onshore for domestic supply in the meantime or screw their growth forecast and ambitions for development and economic growth completely.

You are probably about right BD, of course the shocker ref the old Bod is actual spend was about £14,000,000 on those assets and most of the rest was fees paid to the city spivs for financing and of course the cost and expenses of the old BOD.

Much prefer the new lot in charge.