Member Info for cperkin

Only way I can get me and the Zimmer in the front door Crusty, been a long wait ;0)

Hi Philo, it was applied for back in September 17 I think. The 90 days was a red herring as it only applied to the PURA part of the approval and not to the Tanzanian Cabinet approval. I expect it is dependent on the completion of the farm out and possibly the C-1 drill.

From the AEX BB there is still some doubt if the 25 year licence will be issued pre or post the upcoming C-1 drill. Not sure if the additional deeper potential liquids target has any bearing on that although the licence is for petroleum products so as I understand it should make no difference to the application, only to the development plan.

I don't think the payment dispute is the issue and the TPDC have already withheld gas payment in excess of the disputed amount so even if agreed the TPDC still owe the JV some money.

The immediate need is for the Mtwara licence extension as this as I understand it is required prior to the farmout completion in November. According to Aminex it is supported by the TPDC & PURA

So in summary no idea if it will come post farmout or post C-1 but I don't believe the Zubirs would be farming in without some guarantee.

All imo of course.

Never even heard of solo 5 years ago and what do you know about my investment and trading account - nothing.

Stop getting personal all the time "Normal"

Happy to discuss the assets, the forward direction the risks with the share, thats what the BB is all about.

GL

No sorry "normal" I can't explain your trading rationale or why you hold onto a share that you say will go down and not up, does not make any sense to me.

GL

Not for me to explain Kejoglo, it is what it is, which way below the cash and asset value. See you are still avoiding my questions, shall I repeat them again?

New BOD in place, strong cash position and waiting for the licence extension, Aminex Farmout which concludes according to their RNS next month. Lets see where we are post licence extension. After all 25% of 126 million barrels of oil equivalent 2C is a very valuable asset.

All imo, dyor and GL

Thats one interpretation, for balance then the other is that the licence extension, farmout and KN-1 remediation will all be RNS'd any day before the meeting or of course some variable of the above

Much better communication from this BOD with the setting up of an investors evening something we never got from the previous BOD.

All imo, dyor and GL :)

Not everyone runs around naked like you Apache, it has become quite fashionable to wear cloth.

I agree ref KN-1 remediation, the BOD said back in production by Christmas, now seeing is believing of course but if the case then there is a lot of news to come in November and December.

Quite right Drewky

Poor Kev64 with his personal attacks, use the filter old chap then you don't need to read my posts. Like I said anyone positive here is attacked, I wonder why?

As it happens I have bought more twice this week on the drop, and will continue to post my point of view as much as I like :)

Enjoy!...

"Nothing has changed", except a new Chairman and director. A BOD that have purchased a 10% stake in the company, a company thats has moved from in debt to no debt and a £7.5 million cash position ( Malcom Graham wood Malcy) reckons it's closer to £9 million.

But yes an interesting divergence, a 10 fold increase in 2C resources and a 50% reduction in the share price?

As for forward looking statements and Tanzania, according to Aminex the $40 million cash and carry farmout at AEX is due before the end of November and thus the licence extension before that and not forgetting the remediation of the KN-1 production well by the end of Q-4.

Will it all happen as published by Aminex? maybe not but there again it may well.

Oh and I see you avoided all my questions from the previous posts and just went for the personal attacks.

So here it is again and all about the share and not about a poster.

Give over Kejoglo, if stating published numbers and facts is ramping then call me a ramper if you like but the facts and the numbers are just that.

Market cap less than £14 million
£7.5 million cash and equivalent
22% reduction in G&A
Debt Free
25% of 126 million barrels of Oil equivalent 2C with a minimal cash vale on the market of £15.5 million as offered by the Zubairs.

do you disagree with any of the above and if so why?

Ramping. Just another personal accusation as is your "helped persuade" bull crap. Anyone who posts anything remotely positive is attacked and even by self declared non share holders like you, why is that?

It is a statement of fact, the market cap and SP is way below the cash and asset value, do you not agree with that statement?

appreciated, there are still missing RNS's on this site and I was not sure if I had missed it.

Sorry the first bit is as per the RNS 7th sept, the rest is my opinion.

"In addition to contingencies in the drilling budget and potential offsets and claims under insurance policies, the Company has available to it offers of debt finance sufficient to meet any cost overruns due to the delay and need to re-spud."

Sorry Frank, but this has always been on the cards, as per RNS from the 7th September so not new.

In addition to contingencies in the drilling budget and potential offsets and claims under insurance policies, the Company has available to it offers of debt finance sufficient to meet any cost overruns due to the delay and need to re-spud.

The funding provides contingency, it provides for a deeper 4th target if the first 3 comes in and it provides for holding the rig for the second drill if the first is successful. The COS has not changed for the drill- 90% 60% and 25%

All seems sensible to me Nothing has been drawn down but the cash is available if and when required.

R1/R2 targets are only days away now.

GLA

Confused, is the remediation approved by the TPDC or not crusty?

lol crusty yes and not really the TPDC but the ministerial sign off it would seem as according to AEX the TPDC are in alignment but slightly depenednt on AEX doing there bit as and when and certainly KN-1 remediation and the perforation of the deepr zone is more dependent on them.

Give over Kejoglo, if stating published numbers and facts is ramping then call me a ramper if you like but the facts and the numbers are just that.

Market cap less than £14 million
£7.5 million cash and equivalent
22% reduction in G&A
Debt Free
25% of 126 million barrels of Oil equivalent 2C with a minimal cash vale on the market of £15.5 million as offered by the Zubairs.

do you disagree with any of the above and if so why?

I am very happy with the strategy, New BOD, 22% reduction in G&A costs, Monetising an asset, around £7.5 million in cash, loan paid off and debt free.

No of course I am not happy with the SP as it currently does not reflect the Proven market asset value and cash position which exceed the market cap and SP by double (without the licence)

Still there in lies the oportunity for new investors or those buying at these prices.

So in summary happy with the direction and not the SP in terms of where it should be but happy to keep buying at the moment due to the gap and the licence extension, AEX farmout and KN-1 remediation (all dependent on the operator timelines) are additional upside.

GL

It's an investors evening for goodness sake, set for the 22nd November. Now if the Farmout is to be concluded by the end of November then the licence extension and the circular will need to be completed by that date.

No speculation involved there at all.