Member Info for CrustyPete

Sorry, meant to say "opportunities for which are likely to be few and far between if at all"....

I won't be buying more unless I see a price some way below my average, which are likely to be few and far between if at all, though based on yesterday's information I do not see much in the way of "sp catalysts" occurring this side of Xmas, unless you count NT2 well tests etc as a major sp catalyst? I don't.

I would broadly agree with that Wryape although I think there are likely to be opportunities to pick up some cheap stock along that "journey" - after all, we all know to our cost what happens to the sp of AEX during periods of extended inactivity and / or news "vacuums"....

Maybe gogs but with circa 80m already traded today it should only take an hour or so....

The previous share price is a total irrelevance you ar53'ole, if you are to make comparisons at least use a useful metric. Market Cap is the figure you need and yes, that is relevant and is a lot higher than today's, so a lot of upside BUT the sp is a total red herring and anyone with any sense would know that.

"We’ve been at 27p in the past !"

Yes but with 600m shares in issue - duh!!

Touche mctripe, I bow to your superior trolling skills! Not very original though eh? ;0)

Not until he has shown evidence that he has eaten his donkey as he said he would do when the sp reached 2p ;0)

He also said the sp would NEVER reach 2p Rojo which it has done twice since and then a bit.... so those shares I was buying in March and April at 0.70 and 0.80p showed a healthy profit that joyo said would never happen.

Moreover GW you keep trying to frighten everyone by suggesting that the absence of an independent Lab Report proves that the Itumbula well is not "commercial"; well actually GW, no-one is or has actually suggested it is, quite the opposite, the BoD have categorically stated that they need the EWT to demonstrate Commerciality, it is NOT a given and I doubt there are many investors on this board that harbor that delusion. The point though beoing that there is a very good chance that it will be proven "commercial" and on that basis the risk reward ratio is very favourable - at least in my perception.

Well that might be your opinion mctripe but fwiw one comment given to me today by a BoD member was "there is no benefit in drilling a well until there is a pipeline to take the gas".

Once upon a time the 25 year Dev License was contingent on the successful drilling of CH1; the timeline for the Ntorya project was the JV's responsibility - that is no longer the case, the timeline for this project is now down to the TPDC. Pipeline and production is now disconnected and not contingent on the CH1 drill. Production may well now be initiated only with gas from NT2, if the CH1 and NT1 gas arrives later, so be it.

CP, give me a call when you can.

Sorry BG "pipeline" not "well" of course, apologies.

They were not specific about the dimensions or other specifics of the well; indeed certain specifications of the pipeline will only be determined after the NT2 well test. Specifically the CO2 content and make of of any gas collected (expectation of about 3%) as this has corrosion implications.

Sorry BG but must dash...

GLA

Where am I Jodonne? Here, looking on with amusement, or is it bemusement ;0)

Note that I haven't changed from my view of "hold", though from what I heard today I fear that I/ we will be holding for longer than I had previously hoped and expected.

Oh and for those that were wondering, there will be no CPR. The original requirement for a CPR was at the request of the TPDC to justify, or provide sufficient confidence, for them to commit to the Pipeline build. Over time, the TPDC received the comfort and confidence that they needed and the requirement fell away; which then meant that a CPR was no longer considered necessary.

Oh and BG, you are right; despite the PSA review that would have allowed the TPDC to take up to 25% via the "back-in" provisions, the original terms of the PSA have not been amended. So, whilst it is still expected that the TPDC will exercise their back in rights (they have not done so to date), when they do that will be limited to 15%.

Also, as I had fully expected, the JV partnership have total rights to any condensate produced from Ntorya, which is a huge bonus.

Whilst the expectation is that NT1, NT2 and CH1 will produce circa 60 scuffs per day, it is perfectly feasible for CH1 to produce 60 scuffs all by itself. If so, the capacity of the pipeline (140 mscfd) will very soon be exceeded with the drilling of subsequent wells. As a consequence the BoD are looking at alternatives to the pipeline for increasing production and off-take (i.e. Modular LNG) - though it goes without saying that this is way down the line yet.

Goodnight all.

Gloater?! SV you are a total ar53'ole - I have lost circa just under £10k - I have absolutely nothing to "gloat" about you .

Sorry I should have said " I do NOT see any realistic opportunity for that."

Don't waste the time or the (emotional) energy on this basket case - move on and try to put it behind you.

So jasper you say "hold and give benefit of doubt that it could turn around" and that is a fair summary BUT how long will this company remain "quoted" - not long is the answer and after tat what transparency will anyone get of what is going on behind the scenes? It was bad enough as a quoted company and as a "private" company you have nom chance - any asset will be siphoned off for everyone's benefit but the PI's.

Cut and run is the only realistic solution. I did that earlier on and only lost circa 50% of my (quite sizeable) investment and was looking at a rational opportunity to salvage something out of it by through a bit of bottom fishing to buy back in. But, honestly I do see any realistic opportunity for that. The MC means it will be totally impossible to raise sufficient capital to salvage anything from this scenario. The vultures will be circling and they will pick the PI's bones dry....

But dsymons firstly it is NOT solely about the "amount", it is also about Flow rates and longevity; IF the company had found a COMMERCIAL Helium / Hydrogen play they would have already announced it - the independent Lab Tests that everyone keeps going on about would have been completed and the results announced but they haven't. Why? Because no amount of third party corroboration would have enabled them to do so. The company has made it totally clear that all of the items you list you itemise below are 100% reliant on a positive EWT outcome for implementation and completion and that EWT is the pre-cursor for announcing Itumbula as a commercial find. Hence until then IT IS NOT!!

And actually yes they would do all of the below because it will shorten the process to production IF the EWT is successful.

So how much do you think that third party will want to fund £5m? Currently that would be about 5x BCE's entire value. Simpler for them to find another £1m and buy the whole damn shebang....! Actually, in all truth, a sale is the only winning outcome here - but at what price? But the license is owned by Rhein, so easier to wait for Rhein to go bust and buy that from the administrator perhaps?