Member Info for CrustyPete

Really Grawool1? I suggest that it is you that hasn't got a clue - just read the company's recent RNS's - it is all there if you have the intelligence to understand it and the capacity not simply to accept the information that suits your one-eyed agenda..

The company have told us that there will NOT be a JV until after the EWT, so that is not something we will see in the short term but news on the Basin modelling and resource estimates and a raise might be.

Thankfully, in the same way that most of the weak or nervous sellers have already left the ship, most of the "new" money is already "in" or is sitting on the slide lines awaiting news of the forthcoming raise. which anyone with any sense knows is on the way. If we defer that raise until after news of the resource and basin modelling they could be surprised and find that they are "paying up" for it. Alternatively if the news is bad that raise might be down at 0.25p as it was after Tai3.

You pays your money and takes your choice based upon your own view of the risks and rewards - I have already done so and so, I believe, has 90+% of the "market". No amount of pumping or deramping will now have much effect.

In reality slacker, yes, you are right and that is why the sp is where it is; awaiting the outcome of the basin modelling and resource estimate and yes. much of the current sp is expectation based on expectation of that outcome. Much like the sp before the disappointing outcome of Tai3.

I hope that everyone here that has invested is aware of that and has done so in full knowledge of that - I certainly have and I know that many others have done so too. Even the "rampers" but they have no shame - they want to entice the hot money to pump up their own interests - but then that is no news to anyone.

Because that trapped fart is here and posting here under the name "Slacker"... ;0)

Roger the company wil not be able to reveal much if anything about their JV conversations than they already have (they are in discussion) until they have proposed "terms" but they have already told us the the EWT and, maybe , appraisal drilling will need to be completed before they can progress those discussions. So nothing along those lines for quite sometime yet methinks and we should have more information on the Basin "model" and resource estimates before that, unless the company chooses to keep that close to their chest until being able to release both simultaneously. Oh and for what is is worth I don't believe they would either want or are able to do that with what is, self-evidently, price sensitive information; they would have a responsibility to reveal that type of information to shareholders and the market before they revealed it to potential partners.

I agree with you skippsby and perhaps no coincidence that the He1 NOMAD decides to hold an interview at this time? They can hardly represent the Company without an up to date Analyst report? Is the the pre-cursor to their effort to raise money? If they thought it might raise the sp level prior to a raise, that evidently didn't work - maybe a bit of chicken and egg at play?

Also obvious that the interview was a fairly "user- friendly" one, more a PR opportunity than a rigorous warts and all dissection of the company - but no great surprise there eh? No questions whatsoever regarding future funding, JV's conversations etc? Yes I know they would not be able to answer them anyway on the basis that they are "price sensitive" issues but other than that nothing that we really don't already know and is in the public domain; therefore not at all surprised that the interview had minimal effect on the sp.

I note that Sam Wahab another Cantor Fitzgerald exile and contemporary of Sarah Cope.

Does anyone know who was He1's Nomad before Liberum?

Js15, it would be fantastic to get a similar review from one or more "independent" analyst(s). It could be considered that they are not entirely "impartial" ;0)

Westgate you ay that the JV will provide funds - I think you are right but only for downstream CAPEX costs and not for drilling or similar exploration or appraisal activity. He1 will continue to need funding for that in the short to medium term, so I am expecting a raise before the EWT and next appraisal well as the RNS on the 7th February clearly explained that they £4.7m fund raise would not cover that.

Donni, you have been posting here for only a week or so and have evidently done very little research or choose to ignore it and spout nonsense anyway. I suggest before you start making statements like that you actually bother to read the recent RNS's, most notably the RNS regarding the recent £4.7 million raise on 7th February where the company themselves state what they have raised the money for; because even to the uninitiated it is clear that it is not designed to cover the future work programme - which includes the EW and subsequent drills. And that raise was done in the full knowledge of the cash position as of 31st December and states:

"The company led placing provides the Company with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania."

"This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells."

So the funding will fund the planning and determination of the work programme and not the completion of it.

There is the possibility of an RTO until they get delisted but after that next to no chance. Not applicable for AEX as, despite having tax losses also has considerable asset value and potential future income streams and is currently listed as a Oil and Gas explorer and producer (once!) so would either have to stop being that and become something else (EGM and shareholder vote etc) and that would probably involve it having to sell up it's existing gas assets. OR we get reversed into by another Oil and Ga explorer etc

That situation may change of we ever stop being an "operator" because then we could end up being another SCIR who are an Investment Company.

No RJ, the good new is that SCIR shareholders will receive all ongoing proceeds through future distributions; the bad news is that there will be a skeleton corporate entity kept alive through a receiver, and therefore with ongoing overheads, to distribute those incoming revenues. So shareholders should receive proceeds but it will be with a "grade one" haircut I suspect.

Apologies "conbly" = considerably

No doubt something that PubCrawl has shared with him....

Yes dreamingfold but, in my view whether US or AUSSIE $ is of little consequence - the only issue is not whether there is a raise but the quantum of the raise, as the RNS stated at the time of the most recent raise on 7th February.

"The company led placing provides the Company with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania."

" This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells."

At the time of the February rase and notwithstanding the cash balance as at the End of Year accounts the £4.7m capital raise was anticipated to fund the company to the point where it was able to complete the basin modelling and resource estimates - nothing more than that and certainly not enough to fund the EWT or further drills. The only possibility in my view is that the Itumbula drill was sufficiently efficient and speedy that it allowed the company to "save" conbly on the anticipated cost run. Though is that saving likely to be sufficient to fund a £ 3 - 4m EWT programme? Not in my view.

Not talking EWT but drilling now but do bear in mind though that the two previous NHE drills were extremely shallow and short lived; a deeper drill through harder and faulted rock is likely to take longer, involve greater wear and tear and consequently be more expensive - all but for one major mitigating factor and that is that He1 owns their own well. To what extent that acts as a counter weight to those additional costs I could not comment - we saw from Tai3 that it can be more of a problem than a benefit...

Well Wimbledon I guess they have very little else to do whilst on those offshore Oil Rigs eh?! :0)

It is a moot point whether we will see the new modelling and resource estimates until the outcome of the EWT, though as we have been told that there should be news in the "near future", I suspect that we will and, if so, in my opinion we could expect to get it any time from mid April onwards. It will also be interesting to see if we get it in advance of a fund raise or simultaneously - I rather hope the former as a good outcome will give the sp a boost and ensure that the raise will be done at a higher sp and with a minimal discount, thereby minimising any dilution.

Bring it on and the sooner the better, is my view, get it done and put the money in the coffers and eliminate all the speculation and uncertainty around funding; the we will then have nothing to look forward to but the EWT, drill, and possible JV news all positive value accretive stuff.

Extended Well Test.