Member Info for CrustyPete

Come on 91joyo, where are you? What have you got to say today? You have cost me a fortune! I was waiting for the share price to reach 1p as you promised us all it would do by today! Here we are with the sp at 1.80p to BUY now I have missed out! So what happened ? How did you get your prediction so, so wrong?

You have cost a lot of people a lot of money - I suggest you don't tell people where you live.

Or maybe the "I" RJ?

Well Matherdj we know that one of them will be 91joyo - what a joker eh? I wonder what toss he will spout tomorrow. Hopefully we will hit 2p and he won't have the gall to show his face. But if he does, no doubt, be one of many. Probably Highyield and Mick2002 will come and congratulate us before telling us all what a lousy investment AEX is compared to Wentworth!

And what a disaster that was eh? And, speaking of Jay B - then there was Canyon O&G - let's not go there eh? ;0)

I first bought shares here in 2009 and have had a continuous holding since 2010; it is bigger now than it has ever been. Thankfully I am now well in +ve territory.

Jay will certainly have a smile on his face but I am sure will also be looking for an opportunity to cash in!!

Only joking ;0)

Well RJ, whether it be a "Study" or a "Survey", thankfully it would appear that it did not hold up the Development License; only two weeks since the last RNS, so only a week or two after all - thankfully.

Don't be daft Rellik he will still be telling us that it will be 1p by tomorrow ;0)

Yes PoC the Development License has been extended to cover the area previously included within the area of the Exploration License but outside of the area covered by the Development License. At least that is how I read it. That said, you could well be correct; thankfully the AGM is only a few weeks away so we can get it confirmed then.

So mctripe I think the quote you use makes the point. The "Mtwara Exploration Licence" has simply been divided into 9 blocks - it doesn't suggest that the License area has been expanded or augmented.

Exactly my thoughts vike1. Simply a case that the whole area is now included in the Development License and not just the Ntorya Basin as was originally expected.

Well you may be right but I will await confirmation of that at the AGM PoC - I am not sure that these are "new" areas but simply those areas that were previously included in the original license area but outside of the Ntorya Fan Basin (the area that AEX originally included in the Dev License application). That is the area for the supposed 16TCF area as opposed to the Ntorya Basin 8TCF....

Indeed so PoC but that does not mean that any wells drilled there won't be considered exploration wells. Anyway only detail - good news is that "time to market" and "route to market" boxes will be ticked as a consequence.

As you say vike1 tomorrow could be a very interesting day.

Mctripe you say "Further discoveries in the adjoining blocks will fall under the Development Licence."

NOT exploration, part of the same channels from the deep water up dip.

You may be right but just as likely that any well outside of Ntorya Basin will be considered an "exploration" well as they are required to drill one exploratioon well within 5 years of production within that Mtwara Exploration Licence.

I am very glad that I was not responsible for those 3/4 SELLS just prior to 4:00 - they must be kicking themselves now ;0)

Oh well it seems that we need the RNS posted multiple times - as if posters cannot navigate their way to the RNS page ....

Interesting to note that they still claim that AEX holds 25% of the license.... no back-in yet?!

Lot's more news now to come. Should be an interesting couple of months.

Back to a BUY - though my pockets are full.

There you are Rojo - after all that time all you needed to do was to ask nicely?! ;0)

Pity it didn't come out earlier in the day but hey, who cares.

What happened to the long vaunted presentation ceremony?!?! Lol.

Wouldn't we all?

How likely Rojo? Highly unlikely if viewed rationally. It was only in April that we agreed a $3m lending facility that is available for 24 months with capital (and I assume interest) offset against our "carry". Therefore it is highly unlikely that we will be looking for any fund raise until such time as that facility has been exhausted and $3m should cover us for far longer than is anticipated to get us to "production". So even if "production" is further delayed I cannot see that being an issue. What is more by that time we should have seen any one or more of some material developments and sp catalysts: Dev License Approval, Rig Contract, CH1 drill, NT1 & NT2 workovers, pipeline initiation, CPR results etc

So Rojo even in the highly unlikely event that we do need a fund raise ahead of production or choose to pay off our $3m debt beforehand it will surely be at far higher an sp than is currently the case and hence with minimal impact on the sp.

As I suggested earlier, prosciutto is grasping at ever more desperate straws and has become nothing more than a bore a laughing stock.

Oh and sorry I forgot about the 7th Feb raise so now circa 2.5p....