Member Info for CrustyPete

Sorry, meant to go on to say as that will impact the numbers for the move from "resources" to "reserves" that production from NT2 will enable.

No-one is thinking about CH1 or NT1 for their own sake mctripe (though they offer considerable upside on the numbers currently accredited to them) but for the subsequent CPR.....

"Rig" not "Rib" of course!! Doh 😣

I had never anticipated that Rib being onsite until Q3 at the earliest in any event and every reason to think it is more likely to be just in time fora Q4 drill. Though that presupposes that we are sharing a rig with M&P and that they are drilling 2/3 wells before we get use of it. So far no noises from M&P that they have yet to start that drill programme so a Q4 spud most likely methinks. I also think that being pragmatists and not wanting to spend more money than necessary ARA will wait for that drill rather than go to market for an alternative simply to bring the drill forward.

All in my opinion of course.

Snorebollax is just worried that he is not going to get his target re-entry price! He was after low 0.90's but now seems likley that , if he is to get back in, he will be paying over 1.0p for them.

I think 1.0+p will soon become the "floor", with an incremental rise with each successful drill ion Colorado. Let's hope Jackson 4 runs as smoothly, or even better than "31". I am really looking forward to the well test results from "31" - there is every reason to think they will significantly exceed forecasts which, if so, would be a tremendous fillip for the prospects of the subsequent drills.

Great news - looks like we might get that pipeline initiation in March as I had anticipated - which should then mean production before the end of Q2 as was my takeaway from the AGM last June.

CPR post CH1 drill and NT1 workover, which should be worth waiting for and the increase to 280 Scuffs pd is great news (though long distant). Just a little disappointing that we don't have a prospective date for the CH1 drill and NT1 workover.

Exactly my point MammaC - it is an empty statement and totally meaningless. He could just as easily chosen to take a 6 month term instead of 12 months and then the sp was 2.0p and it would now show a 50% loss in over only 6 months? Or conversely that many may have chosen to buy in June and exit in August with very good profits..... totally arbitrary and a bogus and specious comparison that means nothing.

Anyway, enough. Goodnight all and I wish you another good day tomorrow - I will be travelling, so will leave you to it.

Why the point I was making Broomtree was that anyone can abitrarily pick a timeline that suits their own agenda - what relevance has one year above 18 months? The last raise instead of the one before? It is pointless. Do you assume that an investor took part in a raise or not? That they took part or all of it? Pro rata? What?

Easy figures to quote but actually totally meaningless as a generalisation.

Not if you sold it only 15 minutes after the opening - as indeed, many did....

The ML was priced in after all - really? Despite the sp rising 35% within 15 minutes of the open. Not 2 or 3p but then it was never going to be but hardly priced in.....

Well frogman where the f**k would we be without today's events? So yes it was an extremely good day. No one event is going to take the sp to 3.6p let alone double that, it will be incremental with each accomplishment building on the previous. The BoD have already stated that production at Rukwa would take 12 months from the signing of the ML, so to expect anyone Lorna or any other shareholder to be be putting too much store on short term events in Tanzania would be both unrealistic and extraordinarily short sighted.

Oh and just to remind you that if you had bought He1 14 months ago you would now be making 5x your money....

No Solo simply that the interviewer seemingly has the presence of mind and sufficient knowledge of the company and its recent history to know that the question is not even yet relevant.

Even if you were right Zoffy why oh why would that be cause to be "afraid". You were the spouting the same negative claptrap when the sp was in the low 0.80's. Unlike you many here are not in the game of making or taking short term profits and could not care less about daily or even weekly movements. "Afraid"?! What bloody planet are you on?

You can go back in the bin with the other vacuous toss ers.

It did go above 1.2p Zoffy and how the hell does that vindicate your assertion that it was priced in? It went up 35% for crying out loud... how would that be the case if it was priced in?!

Bloody nonsensical drivel as ever from Zoffy.

Maybe wyndrum, indeed, more than likely in my view, in exactly the same way as the FS not being for public discussion many of the issues around the license are still currently undecided or not for public disclosure. Whereas there is far more to talk about on the Galactica project and all of that is for public discussion.

I would not read too much into it - Rukwa is far less well progressed than Galactica and therefore far less detail available for discussion.

Stamford the TG were and always have been a significant partner in this project, that comes as absolutely no surprise - their constitution demands it. That does not imply that there may not be others - though she still seemed to be suggesting that they might want to remain as independent as they possibly can - something along the lines of - "well we have come this far without assistance, so why would we need help now?".... well the obvious reason being $75m but if they can get it through alternative means why not? Just as long as they are not expecting shareholders to stump up the Lion's share of it, I am all for it! 😋

It has been very sunny out there Broomtree - she just forgot to put her Factor 50 on 😉.

I have always been here for the long term and, whilst there are still a lot more boxes yet to be ticked today, for me, has totally vindicated my belief in this He1 project and am so glad that I backed this particular horse above many other similar alternatives that were (and still are) around at the same time.

Oh and secondly my impression from the Blue Star Linkedin posts and Lorna's interview is that the initial results of the Jackson 31 drill have markedly exceeded expectations. If that proves to be the case after the well testing it bodes very, very well for the 4 up and coming drills. I was also very pleased to hear it confirmed that they are still anticipating production in H1 this year. Less than 4 months away. The two things taken together constitutes a great result.

McNol and Blubay (if you are there). What did you take from the interview? My biggest takeaway was that from what Lorna said it seems that with ML approval they will now be doing further work to assess the basin ("we can further appraise and evaluate the extensive subsurface broken play... which will allow to further evaluate the full-scale project development"), the payload, assess such things as the future 20 -30 well drilling plans. Do they need to do this before they go to market for that CPI as she termed it? Why wait until now to get that underway?

Good or bad? It is the norm - as Blubay has suggested over many weeks and months the two parties will set up an SPV for the distribution of shares in the Rukwa license - many O&G companies have done the same historically. This would also give an option for parallel arrangements with JV partners or Farm-In partners for future funding.

So nothing to worry about - all totally as expected.