Member Info for CrustyPete

We desperately need some form of operational update to breath some life into this moribund body.... Surely we should be seeing a joint statement from SYN and Selan on a Work Programme in the very short term?

RJ, I wouldn't argue with that but when you look back at it, it must now be circa 8 years since any significant development capital was invested in Kiliwani...? To be fair, can AEX truly justify keeping the license?

I wouldn't disagree SC but I believe that the impact of AEX no longer being a "operator" of O&G licences may well have long and deep seated impact on the working relationship between ARA and AEX. Why would ARA want to hold 30% of AEX any longer of they can no longer be their "East African O&G exploration and development vehicle" and are nothing more than a Portfolio investment company in the shape of SOLO / SCIR?

Anyway there is little point discussing it. No doubt time will tell.

I did ask that question RJ, yes but the answer that came back was anythong but definitive. You may recall that I summarised what I believe was the stated position from the previous AGM - that they needed to demonstrate progress annually at Kiliwani and that the 3D seismic programme was expected to "tick the box" for 2023, so what was the situation now that the seismic programme had crashed and burned and how did they tick the box for 2023 and 2024? TW confirmed that was fair summary but passed over to Charles Santos. CS stated that thay had been in discussions with the TPDC and told then they could not do anything with Kiliwani until they were receieving income from Ntorya..... though what he did NOT say was whether the TPDC were happy with that. There was no confirmation or assurance that the TPDC would allow them to maintain operatorship of the license until that happened. Let's face it, when will Ntorya provide them with income and a war chest sufficient to fund Kiliwani redevelopment? Latter part of 2026 perhaps? Will the TPDC's patience last that long?

Who knows.

Daily trade volumes in recent days suggest declining interest and those volumes will need to increase to get through 1.50p methinks. All the large volume days coincide with recent RNS's (no great surprise) but what is going to bring back the volumes between now and EWT completion?

Yes, of course, this is from the Ministry of Mining and not the Ministry of Energy but is it a sign of things to come? Best we get on and do something to develope Kiliwani before we lose it....

https://www.linkedin.com/company/wizara-ya-madini-tanzania/posts/?feedView=all

There will always be people looking to de-risk as the sp moves upwwards, we have seen this at every stage of the price rise and poarticularly since above 1.20p or thereabouts. Any surfeit of shares brought about by these sellesr will soon be soaked up and the price will rise to the next level, where the same will happen again.... Plus the 1.50p level will be a bigger obstacle than some of those recently successfully negotiated (1.25, 1.30.... 1.45). It may take a bit longer to get through the next one but once done we could quite quickly see it move towards the 2.0p level.

I hope we see this before the next RNS, because I can see it needing some material news to get us through 2.0p.

"Would you buy 7 million shares without the nod (I wouldn’t)" I already have and then some..... mind you not at 1.46p ;0)

Hard to sell in size. MM's know they will take some back before the close methinks - hopefully close above 1.45 BID - fingers crossed.

McNol, we have seen the sp vacillate at each of 1.30, 1.35 and 1.40 before ventually beaking throiugh and holding. It might take a day or two at 1.45 but it will eventually do the same. I think we will be at or above 1.55 -1.60 before the next material news release.

Alan you ask "but why would Lorna want to sell something that could potentially be absolutely astronomical."

Well maybe because when the BoD have circa 500m "free" shares between them how much do you need to sell He1 for before it no longer matters?!

We have already seen two or three attempts by the rampers and pumpers & dumpers at circulating false and fanciful rumours with a view to grossly inflating the sp before they abandon ship - This will be no different....

56 million shares traded in the first two hours of the day and a 5% rise - if that trading activity continues we should see much higher sp as the sellers at 1.45 and above are soaked up.

And isn't it mctripe that continually criticises other posters for "speculating"....? "Pot and kettle" come to mind.

Spread really narrow - 1.445 - 1.452 for 2 million shares

We have already been to 1.45 - 1.48p - and, predicatbly a number of sellers at that price but, eventually, loose shares at that price will soon be soaked up and we will break through it and hold....

I don't perceive it as being behond schedule. As Clemdave states they were always going to have to complete the casing before starting EWT and with two Helium zones being tested for 1 week each, they can still complete the EWT for both zones before the end of August as planned. Anyway, what is a day or two either way - they have never stipulated a definitive date for completion and, frankly, it would have been irresponsible to do so, it is surely common sense to give themselves some leeway for the unforeseen and the imponderable.

The media tag has been there since 6th August - I hav e checked it ost days since then but nothing new; just the LSE interview

I wouldn't argue AJ, I have always been sceptical. He1 have always seemingly been quite reserved about the issue of detailed numbers before being 100% sure. Moreover the most important figure are the Flow and Pressure rates and the whole point being that Flow rates are only meaningful with consistent flow rates over time - so until they have those "extended" flow rates they will not have a full picture and they will only have those flow rates at the end of the process.

Though I am still being offered above 1.40p for 3 million! Just a false spread being quoted.