Member Info for cperkin

Zubairs Frank...…...The licence has little if anything to do with the BOD based on the current state of O&G licences and the companies waiting for them.

KN-1 they take full responsibility for.

Mr transparent CAPITAL LETTERS

Licence = MULTIBAG

Just thought I might give it a go ;0)

Deals take time and the right deals take even longer, but we should be getting close if Malcy's blog from early April bears fruit.

"Given that they have started to look at so many possible deals it would not surprise me, as I wrote in the blog before I met with them, if one or maybe two are not getting close to closing and thus starting to add value for shareholders. Indeed, whilst they were giving nothing away, I got the distinct impression that they were being quite bold and one might expect to see a relatively substantial deal at some stage. The level of experience of the team is such that there would be no qualms about making a move on an asset that would be designated as an RTO and lead to a suspension of the shares to return as a much bigger player."

https://www.malcysblog.com/2019/04/oil-price-block-reabold-aaog-solo-gkp-and-finally/

The sooner the better :)

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=WEN&ArticleCode=r396v5pa&ArticleHeadline=Wentworth_Resources_Plc__Posting_of_Annual_Report_Notice_of_2019_Annual_General_Meeting_Operational_Update

IF (caps) the New BOD & Management team deliver on their target of 5000 boped within the 3 years then market cap will be worth more than 10 times todays on base earnings alone.

So good luck!

Yes steve, not expecting much for REEF myself, although it could be a part cash and production revenue type deal?

As for Ruvuma, it's catch 22. You can't sell it without the licence or at least get a decent return and once the licence is issued then the farmout will complete and the 3rd drill and development to production will begin.

At least Helium has the licence in place, they need to get the drill bit turning though and n the meantime we will have to see what the BOD have up their sleeve, ref one of these deals they are targeting.

? Reef HoT was only signed the 21st of March, the BOD have Changed, all the Old management team has changed and they are off loading non core assets for cash.

Keep the changes coming I say!

https://imgur.com/VoOCORF

*2 harmonics: Pink has hit zone to fulfil C
*Blue harmonic has 2 levels for D; by hitting upper yellow rec it has fulfilled reqts but as it has 2 levels, it *cld* still drop to lower yellow zone
*Suspect PRZ/confluence zone hit so now looking for reversal
*For pink harmonic to complete,needs to hit D (green rec)
*Targets for blue harmonic not yet given but this cld be ~5 bagger IF lows hold here; awaiting confirmation yet
*4hr t/f chart so **patience** required but will be rewarded if reversal is now imminent

Could hit 0.5 but expected to bounce from 1.040

Lat chart I read from a seasoned full time trader shows it going to around 4 to 5p

Locked and loaded already.

Well they better crack on with KN-1 whilst they wait for the Tanz Gov then, if they can afford it that is?

Morning Babel, a useful ear piece from the HH guide to the galaxy, hope it translates into more profit for you :)

I would guess at around 3 months for full DD and completion so next month? Pure guess work though.

I guess the measure of calling any share right is profit, amazing to think this was @ 18.5p equivalent around 2 years ago, how the sp has suffered whilst the resources have only increased in size.

The new Bod + New management team have only fully been in position a few months, happy to give them a while longer to deliver on their stated objectives whilst waiting for the Tanz gov to issue that extension licence.....one day rodders!

Always concerned at drifting spud dates Christoff, I don't however believe any of your Fraudulent fantasies.

Yes zebo, if they spud tail end of this year/early next then I will feel a lot better about it, seems they have appointed the right person to make it happen with Ian Stalker

Steve had it right, in the garden, what a lovely day!

Loads of risk at this stage, drill required and off take agreements confirmed + finance before it gets to production.

Shorter term I am concerned at the length of time to get to drilling, the licence runs till 2023 (option to extend to 2026) Post positive drilling & financed development plan, they need a mining licence. Don't want to see this play out like Aminex and the Ntorya development and better get the drills down quickly whilst there is plenty of licence left, allowing for plenty of time for the mining application approval whilst still holding the licence rights.

http://www.helium-one.com/wp-content/uploads/2018/09/HeliumOne_CorpPres_Aug_18.pdf

Yes the Tanzanian Gov are just so slow, in saying that Helium is covered by the mining department and not the oil & gas and the terms have already been made clear.

@steve the 98.9 Billion cubic feet is the recoverable quantity with a probability of 50% that all 98.9 billion can be recovered.

98.9 Billion cubic feet unrisked P50 prospective according to the CPR about the same value as 8 Trillion cubic feet of gas, they need to drill and convert to "Proven" resources to interest the market, current global demand is around 6 billion cubic feet per year (US$6bn) and reserves are declining, hence the price increasing.

Need a confirmed spud date.

Hi steve, I think it might depend on how development and production is funded. From what little H1 have published and as I understand it they are currently gathering off take agreements and plan to use reserves based funding.

No idea what this would mean for boepd conversion targets, but Helium is priced at around $900 per barrel compared with circa $60 per barrel for oil and over $200 per mcf v the $3.25 per mcf for standard gas.

Could be simultaneous drills and targets then - C1, (Crustacean + Jurassic for gas/oi) and Helium @ Rukwa, well you never know?

Yes steve, everything drags in Tanzania it seems, hence the need for diversification, waiting for BOD delivery!