Member Info for CrustyPete

Oh and V111JAS on the subject of a merger between Noble and Helium I would be interested in understanding your rationale behind saying that it would be in the interests of Tanzania? Rather than have two "minnows" operating in Tanz you would have one marginally bigger one but with no more capital and no more operational capability. The only benefit might be one set of central costs and one Stock Exchange quote / costs.

It would probably be in Tanzania's best interests to get both companies to sell out to someone with a balance sheet, cash and operational bandwidth. But I cannot see either BoD being too keen on that anytime soon; until and unless they eventually run out of cash and no longer have the ability to raise any more.

What I "really mean" V111JAS is that you can never trust the figures at face value and to read anything in to them is unwise., in my opinion and experience anyway; nothing more and nothing less.

I now have more than enough RJ at you know where" and so will be doing very little over coming weeks and months until there is obvious reason to do so. I just wish that I was able to act on the strength of my convictions!

I hope you are right BG but I believe it might take more than one; and more so if we wait months for that first one :0(

Indeed so, V111JAS but the point being not to believe the reported trade numbers, for a multitude of reasons the figures at any particular time can rarely be assumed to be correct or reflect the actual balance of BUYS or SELLS or, therefore, indicative of anything.... to suggest that because there are more Buy than Sells and therefore the sp fall is pure manipulation and must reverse is a fallacy that is often trotted out and is actually totally spurious.

"BUYS outweigh SELLS today. What does that tell you"

That there are a load of large delayed SELLS that you have yet to see!!

That has broadly been my position since the latest RNS and more so since the last interview - the issue is, how many feckin' shares will there be in issue by then? Unlike you I have decided not to sell but to hold and keep any further powder dry - there is always the slim hope that there could be some positive material news in the short term. Nothing though, I fear, that will allow us to avoid a significant dilution of one sort or another in the next 6 months, or even sooner if the BoD cannot fund EWT from cash (which I think unlikely btw). The longer it drags on the larger the dilution is likely to be as the MC erodes with every passing week.

Perfectly feasible BG but, unfortunately, all speculation. It is this continual uncertainty and speculation caused by never ending delays that in the dampener on the sp and will continue to be until things progress to the point where there is very little that can go wrong....

So one small, brief sentence in that Noble interview that was revealing. Many here have been saying that He1 will be looking for off take partners to fund the EWT and appraisal drilling. Please note that Noble are speaking to off-take partners to fund or part-fund "Down stream Capex costs" NOT drilling or similar.... and I find that in no way a surprise.

Is this the same Zak Mir that was telling us only 2/3 weeks ago that it was going to 4.8p...... highly credible: NOT.

Indeed but I cannot believe that is in any of the JV partners interests; converting that back into $US will be almost bloody impossible....

But SM16 how relevant is any of the below when it relates to helium that is associated with a natural gas deposit? We know that the Helium in the region is not associated with Hydrocarbons put pure Heliu,? Yes maybe generated by Hydrocarbons (Oil) and degradation of Oil by microbes BUT how much of the below is relevant or transferable to a pure Helium play?

Do we know that it will be that much Blubay - if it is going to Noble they will only want it for a week or two won't they?

"Question is who and when" and "what will the market cap be by then?"

What an ignorant moron you are PC.

And the TPDC will need $US to satisfy their obligations BG. The BoD fully expect them to do BG so but I can see why this isn't going anywhere until they are in a position to do so.

Unless the JV is willing to fund them in the short term and take it back out of future incomes - but we saw what happened with Kiliwani invoices, right?

So 15 billion shares at 8p? You consider that a possibility do you? A £1.2 billion Market Cap? Yes, an 8p share is an 8p share but comparing sp without reference to market cap or shares in issue is a totally spurious and meaningless exercise.

Yes steve the market cap might be the equivalent of 8p in two years time but by then there could 15 billion shares in issue; which would mean that unless you can afford to buy more (pro rata) with each share issue, your %age of that 8p will be only a fraction of what it is today.

Dnp, you say "Remember placing shares were taken buy 2 investors, they would not have paid 1.50 for nothing and invested millions"

The sp has been well over 2p since then. Do you really think those 2 investors still hold them? Maybe but highly unlikely to my mind the BoD would have kept them well informed of what was going on behind the scenes and, with the prospect of a raise on the way would have wanted to keep them sweet for "round 2"....

I do think the BoD are caught between the devil and the deep blue sea. The lessons of Tai3 just go to show that constant capital raising is a fact of life for a non income producing AIM listed mineral / gas explorer. There is very little the BoD can do to conceal that - everyone knows what the costs and risks are; they try to keep the news releases as positive as possible without peddling nonsense (like NHE) but at the same time "the market" can see that the writing is on the wall.

Many here were peddling the idea that a white knight, in the form of a JV partner would come along and save us all from the horrors of dilution but realistically they are not going to take any material risks without some skin in the game. And that risk will only reduce significantly after the EWT and maybe not until the next appraisal well.

This seems totally logical to me so what on earth did anyone think the BoD could do to avert this perception?

"I just wonder if the delays are to allow time to enable the TPDC and other Tanz bodies to get their own ducks in a row."

Oh and sorry meant to say - and , if so, I only wish they would bloody get on with it!