Member Info for CrustyPete

Without knowing the relative benefits of a Cayman Islands Jurisdiction above a UAE Jurisdiction (and I don't) I could not say. They are both Investment Companies so I doubt there is much to choose between them except perhaps the opaque nature of the ultimate beneficiary (ies) in Cayman.

The 27.43% BTW

I have just received notification from Aminex (soon to be an RNS?) that Eclipse Investments (Sultan Al Ghaithi) has just offloaded 1.225 bn shares to ARA Offshore Investment.

Purely technical I am sure but "after hours" and not yet posyted on LSE or elsewhere that I have yet seen.

I don't think the information contained in that "release" will come as a surprise to many, certainly not to me, but as discussed earlier ARA/AEX are unlikely to broadcast the fact until the "i's" are dotted and the "t's" crossed - until then it is not something that could be published in an RNS methinks.

Moreover the Minister may be taking his lead from the Orange one....... by stating something as a fact makes it more likely to become one! ;0)

Only joking.

To restate, I have always believed that ARA will use the M&P drill and have said so consistently for over 18 months, so it is absolutely no surprise. The only question in my mind was the timing and I think we can now be reasonably confident of when that will be - give or take a month or two.

Alcapone. I am only speculating but I suspect that there are a number of variables yet to tie down and a lot that can happen during the drilling of three (quite deep) wells. Equipment failures, delays etc. So whilst I don't think they will have to wait until the completion of drilling before signing they may want to get most of the way through it so as to be able to confirm exactly what they are paying for, what parts they might have to replace (if any) and such things as who will be responsible for transportation, set up and operation. (I presume the rig isn't "owned" by M&P).

Lets put it this way RJ, as you suggest, if we are to drill in August (or even September) the M&P rig is the only realistic option. Shipping another rig half way around the world, or now from the Middle East, and getting it transported across country, set up and signed off before August is now looks a stretch. if even possible

I agree stan about the market looking ahead but that market is not going to give a company "credit" for price rises on income that doesn't yet exist. (Except to the extent that, when commodity sector rises, all companies will be affected to a degree) Colorado production will benefit from price rises but who knows what the price will be by the time Tanzania is doing the same.

We are only producing He1 from Colorado and it'll be quite a while before we are supplying Asia from Tanzania....

Oh bugger, I guess I will have to go without Balloons at my next birthday do!

It always did! Charles Santos effectively flagged it two AGMs ago. He even said the tender simply ensured that M&P were kept "honest" and that it was a lot cheaper than any alternative.

August is certainly still a possibility (July / August was always my guess - to coincide with Pipeline completion) but, due to the delays in the M&P drill, programme I would now be more inclined to expect September.

Well I will leave you all to your discussions for today, I am about to pick up my Mum to take her for an early Mother's Day lunch.

Good day and good luck all.

And what is negative about what I have written? I have simply stated that what you and triple star are asserting is speculation and not a fact. That is not in any way denigrating He1. I am expecting the next appraisal well to be extremely positive I am not drawing conclusions that He1 is anywhere close to being funded to production or indeed is even looking to be. That may or may not be so but it is not obvious from anything that the BoD itself has stated so only time will tell.

Nothing about what I have said reflects in any way on He1. Simply your assertions.

Oh really McNol - and you haven't?

Your two most recent posts look amazingly similar...... maybe you are sitting next to each other? ;0)

I will leave others to decide.

Are you two using the same AI tool?!

I would not disagree with what you have written McNol but tat still does not necessarily justify a Farm-Out that would fund He1 to production - as we have argued before the BoD's stated intention is to farm-out to drill the next appraisal well, nothing more. And, yes, I know what you are about to say; you have said it before but that again is speculation. I will go with what the BoD have told us the Farm-Out is for and until then assume nothing more.

Tts you say "we have enough data right now to drive a deal that bridges the gap to production ". We do not actually know that is true, you are purely speculating; it may indeed be that we need to drill the next appraisal well before we have that data. One well (Itumbula) with a sub optimal GWR may not be sufficient to justify funding that bridge without first knowing that the GWR can be substantially improved in subsequent drills. Itumbula is certainly not a dead duck but improved GWR will surely change the commercials and consequently He1's negotiating position for subsequent JV's, Farm-Outs and Funding.

Yes same for me on II.

And just as I was writing yet another!

I suspect that we will see more of the same today - notified trades are tiny and yet we have seen a tick up on the Offer price.