Member Info for cperkin

Short ban then dunder.

Yes we certainly hope and expect an update before 16:30 next Friday, dont see the bod surviving this years AGM without one.

"& that it's so good people will go to any lengths to get their hands on it."

Sorry I should add allegedly

Kejoglo, thanks for your long and reasoned post, however all the time the SP is above 0p and the company has £millions in the bank + the current offer for 25% of one of the assets is = to about twice the current market cap, it's all Jackonary imvho

Why would you sell for less than the current offer of $20 million anyway & why do you think the BOD and shareholders would vote to accept such a nonsense offer, not forgetting that Jon Fitz paid a premium @3.5p ( the floor imo) just wait for the next drill and the likely premium it has to offer, significantly more than twice the market cap can be realised.

Pay the dividend to shareholders (as promised) and invest some into the $27 billion H-1 play and look for another asset outside Tanzania.

Anyway, glad you agree there is interest in the Primary assets outside of just the Zubair corp & that it's so good people will go to any lengths to get their hands on it.

Legally protected, vote protected, offer on the table for twice mcap and cash and asset rich.

Well at least you all agree on Buy or Strong Buy Mystery, Drewky and Crusty :)

Next week at the latest should at least yield something.

This is the direct link

https://www.bbc.co.uk/programmes/w3cswgly

$27 Billion of Helium @ current market price in just the one licence area

Thanks Molehill.

https://www.bbc.co.uk/programmes/p002vsxs/episodes/downloads

Name one legal way the Kejoglo or is it all Jackanory again.

Protected by local and international law + no disposal can take place without a shareholders vote.

Worse than the rampers, might just as well say Huge deal about to be done for Ruvuma, waatch this space!

Good luck Random, hope they get their rope pick up sorted this time round over there.

Morning steve, impossible to predict on the Gov issuing a licence, so the options are.

1.0 Date reached and the deal cancelled

2.0 Date reached and the deal extended

3.0 Date reached and the deal concluded. Note; even without a licence the parties can agree to waive the condition precedent as unlikely as that may be.

I would say 2 is the most probable, we will have to wait and see.

2. Conditions precedent
The Farm-Out Agreement is conditional upon a number of matters being either satisfied or (where applicable) waived, including:

• approvals by the Tanzanian Government and by Solo Oil of the transfers of the Assigned Interest and of the operatorship under the JOA to the Farmee;

• any other third party consents and approvals required under the documents being obtained in respect of the transfer of the Assigned Interest;

• the Mtwara Licence being granted in a form satisfactory to both Ndovu and the Farmee;

• the shareholders of the Company passing a resolution in general meeting to approve the sale by Ndovu of the Assigned Interest to the Farmee;

• there being no material failures (within the Ruvuma Area) to comply with applicable environmental laws/regulations or good oilfield practices relating to environmental matters identified in any environmental assessment/baseline study undertaken by a firm of suitably qualified and experienced environmental consultants for the Farmee; and

• any operational agreements being transferred to the Farmee or terminated at no cost to the Farmee.

Completion of Farmout?
Extension of Farmout?
Licence?

10 working days, they need to deliver something!

Still firmly convinced of when and not if and agree BG and if both parties also agree the same then a waiver is not out of the question although probably unlikely.

It would certainly give the market a kick up the posterior regardless of the licence status and of course deliver $3million much needed cash, not much when you have already spent multiples as cornerstone investor.

It is also possible that the parties agree that the condition is waived, although I think thats unlikely.

2. Conditions precedent The Farm-Out Agreement is conditional upon a number of matters being either satisfied or (where applicable) waived, including:
• approvals by the Tanzanian Government and by Solo Oil of the transfers of the Assigned Interest and of the operatorship under the JOA to the Farmee;
• any other third party consents and approvals required under the documents being obtained in respect of the transfer of the Assigned Interest;
• the Mtwara Licence being granted in a form satisfactory to both Ndovu and the Farmee;
• the shareholders of the Company passing a resolution in general meeting to approve the sale by Ndovu of the Assigned Interest to the Farmee;
• there being no material failures (within the Ruvuma Area) to comply with applicable environmental laws/regulations or good oilfield practices relating to environmental matters identified in any environmental assessment/baseline study undertaken by a firm of suitably qualified and experienced environmental consultants for the Farmee; and
• any operational agreements being transferred to the Farmee or terminated at no cost to the Farmee.
Ndovu and the Farmee have the right to terminate the Farm-Out Agreement if the conditions are not satisfied (or waived), by 5.00pm on 31 March 2019. Completion is to take place on the fifth business day after the satisfaction (or, where applicable, waiver) of all the conditions. In addition, Ndovu may terminate the Farm-Out Agreement in the event that the taxes and other charges payable by Ndovu in respect of the sale of the Assigned Interest exceed an amount agreed between the parties.

They can sign the Farmout agreement Frank, but the extension licence is a condition precedent for completion, so signed is one thing and legally binding based on the condition precedent being met is another.

Still it will be viewed positively as it reafirms the commitment and intent of the two parties.

lol steve it tells us nothing material of course, and when they say recent, I wonder how recent.

Anyway, queue Bob Marley again...and turn the Bass up!

No licence No drill.

Queue the music, Bob Marley.... No licence No drill.

From Drewky on AEX after everyone kicked of at the rubbish AEX tweet this morning.

https://twitter.com/AminXunofficial/status/1106592403480367104

https://twitter.com/AminXunofficial/status/1106592560070516736

Apparently the Bod are in Tanzania.

Have a lovely weekend!

Exactly the same on Aminex, 11:30 to 11:31 18 trades in a row almost all less than £100 - looks like direct market manipulation and since they are all 0 trades then they are being executed by an individual?

https://www.ippmedia.com/en/news/tanzania-gears-%C2%A0-become-gas-hub

Better get on and issue a licence then!

Thx 2 Jules

https://www.ippmedia.com/en/news/tanzania-gears-%C2%A0-become-gas-hub

Better get on and issue a licence then!