Member Info for cperkin

I think till they sell Ruvuma this will continue to suffer SVS, they can't deliver on their strategy without the sale.

Hi steve agree, pathetic and back to pre consolidation levels.

New year sale or the Mother of dilutions come early Q2 2022

SVS, I think the BOD told us they had earnt £40,000 just for the month of October 2021 (The first full month of operation) made up from index linked ROC + direct power sales at the current high variable rate. They will then update quarterly.

https://youtu.be/IQ1XBKw5y-8?t=1888

Well SVS, clearly the Zubairs think differently having pumped $10's of millions in so far and ready to pump over another $100 million into Ruvuma. I wonder if they have completed the 3D over the CH1 site yet? I believe it was priority one.

I think it's now or never for the sale of Ruvuma, it is likely that CH1 will price players out of the market. If not then expect a raise in early Q2 next year. The BOD said on the webinar that they would provide Quarterly earnings updates for the AD plant.

Well with a mcap of £5 million anything short of 3 bags (£15 million offer) from here would be a major disappointment for shareholders Maveric.
Looking like it will more likely be new year now.

Nice positive Friday surprise.

GLA

Got to say, I can't remember the last time in O&G that a company took over as a direct result of a 30% buy & offer? The SP of course for such a low volume stock would move progressively north on anyone attempting to buy such a large %

Personally I think if ARA wanted more of Ruvuma, they would have made an offer by now and probably shortly after the licence extension was granted.
WEN are certainly confirmed as looking in country, but as Aimster pointed out yesterday, I would only see them taking part, leaving another player like M&P or ORCA at the table?

One thing is for sure, the asset is worth a lot more than the cap here.

ORCA currently have $74 million cash and operate in Tanzania, possible? There are several other options though.

+1 Aimster

Morning mjpac, just been reading it, here are a few highlights

Strengthening financial position with $24 million cash in hand at 30 November 2021
The Company intends to explore and evaluate growth opportunities both within the Mnazi Bay licence and the greater geographical region to support increasing in-country demand for natural gas.

TANESCO announced in November that natural gas will be used to address a 345MW shortage gap of power to the National Grid
The average gross daily production rate from the Mnazi Bay gas field in December 2021 to date has been approximately 102 MMscf/day

Happy Birthday both :)

Block Energy plc, the development and production company focused on Georgia, is pleased to announce that drilling commenced yesterday at JKT-01Z, the second well in Block's current two-well drilling programme.

https://www.londonstockexchange.com/news-article/WEN/operational-update/15253037
The average gross daily production rate from the Mnazi Bay gas field in December 2021 to date has been approximately 102 MMscf/day and, as a result of the stronger overall demand during 2021, the Company expects to achieve a milestone average production rate for the calendar year of over 80 MMscf/day - exceeding the high-end of the already upwardly-revised guidance from June 2021.

Well that's mighty decent of you Dan and hopefully the rest will do you some good.

More importantly for shareholders, maybe they will be free to discuss what may or may not happen with Ruvuma, what price would be a fair/good price after finally getting the green light from the Tanzanian Government, is it worth waiting another 6 months at close of year and the dilution that will come with it to see that "back to back" drill?

Enjoy the break.

https://www.youtube.com/watch?v=Whj5_Y_4SR4&t=1562s

So what would shareholders accept?

Well we all now know what a complete waste of money Dan was for his £250,000 a year reading his posts here, probably worth paying about 10% of that, £25,000 a year tops.

Stick to playing with your strawmen Dan :0) In the meantime we are organising a search party to help you find your lost plot.

PMSL

Morning steve

Lets see, licence extension for Ruvuma
£1.2 million on the AD plant
Around $1 million on the 3D
And G&A

lol Dan, says the ex CEO posting on the BB of the company he got kicked out of.

Makes you wonder, Dan Maling invited JF and AF into the company and then they kick him out, wonder what they found out about him?

Save you some time, exact part here.

https://www.youtube.com/watch?v=Whj5_Y_4SR4&t=1562s