Member Info for cperkin

Blimey been enjoying the sun, had a check and thought there was and RNS.

Come on, can't be long :)

Worth a packet FJ and I am not talking about data packets through ports for VPN :)

Morning steve, the thing is that the 2 year extension licence included 3 key items,

1.0 The 3D survey
2.0 The C1 drill
3.0 A GSA (Gas Sales Agreement)

The 3 above each add value but with a Gas sales agreement in place the value shoots up, so cheap now and much more expensive later.

Well that's why IT customers are called users, they are dumb about what happens underneath the bonnet.

Have it your way then Dan.

Evening steve, cracking day! Ruvuma news expected September according to the RNS, but you just never quite know with Tanzania.

Ref Dan, it's the EGO I think that's badly damaged?

Interesting background to some of the characters running the holding company behind this....

Soon everyone on AIM will know along with all the associated companies, fintwit are going to love it!

Have it your way Dan, lot's more to uncover I am sure, so I will dig a little deeper beyond just this then and make it Epic.

Have fun.

Obviously toot sweet was not understood.

Think I will start with Twitter,
Followed by Some well known AIM bloggers, TW, shotgun Dan and Oil man Jim
Followed by some MALING (whoops emailing)
ORANA CORPORATE LLP
Followed by Helium Ventures and the HEV BB (shame clean and virgin like at the moment and it would be such a shame to ruin it before it got started.
Followed by every other company on the list at companies house.

Your choice Dan, toot sweet, no skin of my nose either way.

Looking forward to the 70's

Peace & Love all!

Thanks AJ and I hope you are enjoying some sunshine, unlike us lot back in Blighty :)

So you don't think we will get info on Formation porosity and liquids and gas but have to wait for full flow testing which may be dependent on the interconnector completion?

Might have to reset my expectations slightly but hopefully not by much :)

Enjoy the rest of your Hols!

Exactly the point I was making Crusty. last we heard was from AEX via RNS was RNS Number : 7289D on the 30th June.

Kiliwani North and Nyuni

"The Company continues to explore the opportunity through remedial work to restart production from our Kiliwani North well. We, therefore, continue to see value in Kiliwani North through a low-cost remedial work programme. However, no work can progress on Kiliwani North until resolution is reached on the Kiliwani North receivables. The Company continues to hold robust discussions with the Tanzania Petroleum Development Corporation ("TPDC") in seeking resolution of the outstanding payments for past gas sales from the Kiliwani North development licence. Both parties are aligned in the acknowledgement that these matters need to be resolved satisfactorily for the benefit of the local gas industry and to enable Tanzania to secure further investment and upstream gas development."

Morning steve, all the gas sold in Tanzania is at fixed prices that are negotiated as part of the GSA. I think Killi was something just over $3

They will not do anything with Kili till the $8 million outstanding in payments is resolved, as per the below from the AEX ARA, SCIR are owed 8.4% of that.

"However, no work can progress on Kiliwani North until resolution is reached on the Kiliwani North receivables."

Oh I am sure that ORANA CORPORATE LLP would like to hear all about Mrc and his working hours spent on a BB trying to manipulate prices.

I suggest you do one toot sweet Dan.

The well can make all the difference here and of course BLOE are fully funded for the next well straight after so we could really see this move on two positive drill results.

Not long for well one :)

Morning steve, lol, well they only gave the statutory one year last time so a relief to see a 2 year extension this time round. In terms of current market valuation the asset is worth well over $100 million based on the Zubair FO + upgrade in resources, funny that that's the number the NR gave for SCIRS 25%!

I don't see anyone paying more than the market rate and maybe any buyer will wait till post C1 drill and GSA, de-risked then but probably one hell of a lot more expensive for them.

Morning AJ, well I have seen it used repeatedly in sentences in a disparaging way and I am simply pointing out that there are two sets of millionaires having a spat over block. The BOD on one side who have taken millions out of BLOE and the so called Shareholder group/concert party who have invested millions in BLOE. It's ironic that over half the money that one set of millionaires have invested has been taken by the other set, the BLOE BOD in their own remuneration and benefits, probably why the other side are so pi33ed off?

Anyway back to more important things, when do you expect some results on the well and do you think we will see the LWD results or have to wait for the flow test?

Sorry got to say I find this millionaire slur remarkable, the BOD here are millionaires & they have taken millions out of the company in cash and benefits to date and continue to do so & all whilst "Directing & Managing" a collapse in the SP from over 17p to under 3p and then they have the cheek to reward themselves with millions of cheap shares for the pleasure and claim they are helping out shareholders.

Now if they said you know what, we have created this pain and will take a 40% cut in salary till we have returned some "Tangible" value to shareholders then fair play, but that's not what is going on is it.

The BOD always take their rewards in full, regardless of the value they deliver. Still not exactly uncommon for an AIM share I suppose.

Got to admit I was pleasantly surprised by the 2 year extension licence over Ruvuma steve, statutory is only 1 year so twice as good as expected. Again if it's not sold before there are 6 months to drill, I am not sure the very large shareholders here will vote to let it go so a limited window imo.

Question is which will come first? Ruvuma news due this month according to the Operator.