Member Info for cperkin

Understand how you feel and many have been here a lot longer than me and been diluted beyond believe! whilst some of those assets purchases on tare on the books @ junk value, but Ruvuma is not one of them and we will find out soon if Horse Hill is comercial.

With the $455 Million injection into power generation announced today in Tanzania, coupled with current well capacity V demand and the Arab's making a grab form more of the Operators share, I firmly believe Ruvuma will be worth many multiples of todays price (almost $0 at todays market cap I grant you) for relatively little cost and all by this time next year (drill confirmed of course) worth considering at least.

Guess we just have to wait for now (how much longer!) for the operator/Omani farm out and the licence to conclude.

BD, the more I read on the current position in Tanzania and the more posts I see claiming 2p and NR is crap, the less inclined I am to agree with selling any of the asset before production from the first of the 8 wells even though that would mean some short term pain.

Interested in your thoughts?

lol matherdj, terrible news the Arabs wanting to buy more ;)

Similar feel to the language of late vike, coupled with the farm out talks @ Aminex it's all looking quite intersting. Worst case looks like sinking another drill into the 5 tcf giip and proving up more to add to the 2 tcf appraised so far.

Thats a max opt in steve, they only took a small % of KN-1 and have to pay the back drilling costs etc if they decide to buy in.

Horse hill 2 Ruvuma - C1 Helium-1 Looks busy.

Hi Mr Physics, I share your sentiment. The email for the shareholders group is, Soloegm123@gmail.com

I agree and exactly the point made at the meeting with the bod last week. The flip side being of course that once a licence is issued then we should see the reflection in the map, especially if coupled with the Omani Farm out.

Are working the board today, maybe an RNS logged then :)

Well I guess no one works for free and he is expecting something back from his £590,000. Still nice to know that another chunk are with a board member.

Exactly vike, the Omani connection with Tanzania is a very strong one, commercialy, politically and @ a sovereign level, hence the royal delegation. Hence not a matter of if for the licence but blimey...When!

It's quite laughable really, on one hand you have the Omanis saying, hey we want to build a massive fertilizer factory and other business in Tanzania but we need power. Meanwhile the Omani Zubair corp have purchased almost 30% of aminex and are now looking to buy more of the near term production assets to provide power. Sitting in the middle is the Government of Tanzania. http://www.thecitizen.co.tz/News/Oman--assures--Tanzania---commitment-industrial-growth/1840340-4145454-n7phvrz/index.html

Quite agree Crusty, it is not a matter of if, but it sure as hell is a matter of WHEN!

And back round we go ;) Indeed so will any Aminex/Zubair farmout come with a licence, after all they can't farm into a PSA without one?

At the moment if the flow test of the Portland is commercial they have planning permission for another well I believe. So 400 to 600 BOPD with the two wells is a possibility.

Not disagreeing crusty, for me it's all about Ruvuma, HH and H-1 are currently a welcome side show in comparison. As for the rest of the Portfolio, it's a joke.

Whoops, thats $45,000,000 profit and so solo's 10% = 4.5 Million after cost.

Yet....Steve is Crustys point. HH valuation assuming 300 bopd and oil price of $55 and cost of sales and recover @ $25 as per the RNS = $30 profit per barrel @ 10% holding (actualy9.75%) = $252,000 per year to solo and assuming a 50% recovery rate of solos 10% of the 30 Million barrels of oil in place = a life time sales value before costs of $45,000,000

Continues it's rise based on the upcoming flow test @ Horsehill. Maybe NR sold our 15% stake in HHDL and we don't know ;-P

Follow BD's advice and as Mr J said, dont go beyond your capital regrading margin calls or settlements. Good luck! Well Mr J if solo haven't sold an asset in your time frames, I expect 2 see production in Ruvuma exhausted and all the gas sold. The Tanzanian Gov 5 year plan is to exhaust on shore in 3 years whilst building the more expensive but larger off shore to cover.