Member Info for CrustyPete

"Surely those ...worried about significant delays should be selling out now and buying back later?"

Which of course, simplistically and selectively ignores that by doing so risks it might not being late and missing out on good news.

My point is sim ply that I would have thought that at this stage of proceedings and so soon after an AGM these things ought now to be set in stone and not still undefined.....

Yes BG and that, as I have always understood, was because the weather does not (significantly) adversely affect drill operations once the drill starts turning but does somewhat compromise the ground work and other prep work, rig set-up etc that precedes it. I doubt very much once the civil work that the APT tender relates to is complete, there will be any adverse affect on the work for NT2 or subsequent CH1 and NT1 drills from any up and coming "rainy season".

That is certainly not the case for the pipeline work and most importantly the groundworks. The BoD even referred to the potential impact of the weather on pipeline timescales at the AGM. Though of course without setting any expectations on timing.

Oh and fwiw I have yet to find any alternative website(s) that contradict the information referenced below. Have you RJ?

Well I hope you are right EE because if it does get delayed significantly into 2025 it will have an adverse effect on the sp - the only thing in doubt is the extent of that impact; unless there is alternative news / update to counter that impact.

Numty, I hope yours and others optimism isn't misplaced, I think completion of the Bluestar deal is taken as granted and RNS will simply rubber stamp it. I think it will take additional details of an Operational Work Programme to get this moving significantly. If the deal is extended or doesn't happen I think this will have a negative influence.....

Confirmation of it being a done deal will underpin the sp but in my opinion it is operational progress that will be needed to create sustained upward momentum all the way to the ML approval and beyond.

Hi RJ, happy to be proven wrong and, of course only as good as the source info but I took my info from the URL below (remove ???'s and spaces). This shows Dec to Mar as being the wettest months.

https://??? weatherandclimate.com/tanzania/ruvuma

"What relevance does your comment above have when Selan are funding the workovers and the new wells... As you know."

Well to exaggerate the point to make a point - my logic is that if we wait 6 months for the first workover we will definitely need to go to market for cash before that workover and so the outcome of that workover will not have an opportunity to positively influence the sp and thereby assist with a cap raise by minimising the effect of any dilution. The more wells that get worked over between now and us running out of money the more that sp will rise and the less the effect of any future dilution.

Furthermore the longer we wait for news of the timescale for those workovers the more the sp is likely to drift in the meantime exacerbating the effects of any forthcoming dilution.

But hey, enough Ssccss we must just agree to differ.

Bye for now.

I would be happy to get back to "even" Ssccss (circa 0.12p) but I don't see any realistic chance of that happening before another fund raise and goodness only knows what effect another dilution will have on the sp. If I am wrong (and I hope I am) I will be out at break even, if not, I may well average down further upon the dilution event - but absolutely not before.

Anyway what relevance has "The workovers are being funded by Selan as you well know"?

My point being that everyday we have to wait for Selan to begin that work programme the closer SYN get's to needing more money and the more the sp slides on lack of news and clarity. That programme needs to start asap to provide something of a boost to the sp before the BoD need sto go "cap in hand" to the market for more "BAU" money and the longer the wait the worse the position becomes; with a sliding sp and no material progress on Cambay.

hence the urgency for Cambao work programme to start asap.

No Ssccss, I do not want anymore, I rue the day(s) I bought as many as I have. My previous attempts at lowering my average have each left me worse off; I won't be making the same mistake again.

I am more concerned at what perceived delays might do for the sp in the short term. Q4 we have been told and a delay will inevitably be construed negatively - rightly or wrongly.

I understand your logic dvh but whether you are right or not depends, I suggest, on when we get some material news on Cambay. If we get that before the sp slips further it might support this current level, indeed maybe a small rally. My question is though how much can it rise with what, appears to be, an inevitable cash call at some point? How long can they stave that off? How many wells can they get re-worked in the meantime and with that cash call overhanging the market, how much difference can that make?

With the AGM in three weeks I would be very interested to know what the BoD have to say for themselves and how and when they anticipate improving shareholder value.... I am afraid that I am unlikely to be able to make it but, if not, I would welcome somebody else asking that very question.

Market size is 200k Toffers - so where is the "market".

Well I was trying in multiples of 100k; 100,000 - 2,500,000

And can buy as many as you like at below 0.93p....

Correct, can't sell a bean currently....

Yes indeed, Samba, there is still time for the pipeline to be built in time to enable them to hit target dates, as I myself have reported but "fast-track" it ain't; maybe the phrase "fast-track" means something else in Tanzanian timescales? 😋 As I noted the tender was meant to have been done released and closed in July and here we are just about to enter November with no (disclosed) tender agreement. We need to see it this coming month or the dates then become unrealistic to my mind bearing in mind that the timescale for the pipeline build is very much weather dependent and that Dec-March is the period of heaviest rainfall in Ruvuma.

Fingers crossed.

So the only consistent detail agreed upon is that it will include at least 27 responders - the timing of the release and the "actual" number of responders contained within is not..... so not "totally contrary", just "contrary".

You were indeed right TOC and well done - respect. 👌

And yet you miavoce and EE have totally contrary opinions of what and when the BoD will issue the output of those trials and what it will or will not include. Very clear then it isn't.