Member Info for CrustyPete

Without going back to my AGM report of many weeks ago I do remember reporting that they BoD were anticipating the Pipeline initiation and GSA to land at about the same time as they are "connected" and that they were expecting both things to occur no later than the end of October. Assuming this were to happen, no "target dates" would be compromised. So, personally I have no problems with the lack of news. Moreover the date of the NT3 drill is no longer the single most important sp catalyst as NT1 & NT2 workovers and the pipeline completion are the route to "production". This is a double edged sword of course as whilst this strategy derisks the importance of NT3 drill success it will limit the sp upside on that drill now that the lower Jurassic is no longer being targeted.

Just waiit until we see the delayed trades - I would not be surprised to see delayed SELLs outnumber the regular ones.

The sp is going nowhere fast until the overhang from the placing has disappeared. Hopefully later this week. Personally I hope that the BoD save any material news until after that overhang has dissipated... otherwise it is only placing holders that are likely to benefit and any spike on the news will be severely watered down.

Okay Roger, understood. Though I will say that I was given to believe that the only rig in Africa that is up to the job is (or was) currently in Kenya....

Someone was suggesting only last week that we might have news of Helium shows by today...!! You have to titter....

"Do you really think we are now going to get RNS for every tool that arrives?" No!

But it seems that every tool that arrives hopes we might.... ;0)

Morning Roger, if you are thinking what I believe you are thinking (He1 drill), think again. That drill will not cope with the pressures likely to be experienced with a drill at Ntorya - just remember the pressure issues encountered at NT2. The will also need very particular requirements around the casings too; the ability to release pressure through venting the gas off during the drill. It may be that He1 has ordered such casings but, if so, there has been no mention of it.

If not the above drill Roger, then what?

Have you got 40 - 50 shares in your portfolio Rojo? If you have, why oh why, do you spend such a disproportionate amount of time posting only about one? Aminex.... ;0)

I think that from the sp movement this morning we will see some large delayed "SELLS" later in the day; very few in either volume or value seen to date and yet much of the rise has already evaporated. As an earlier poster has observed, until this overhang clears we are likely to see a 3 steps forward 2 steps back type sp rise. Hopefully by middle of next week we should be through it.....

" and the company has planned it for one" Lol !! Who doesn't?! No company invests the amount required to drill a well without optimising the COS.... :0)

I don't think it is the 10% profit slicers that we need to worry about, it is the overhang from the recent placing; I fully expect that to take the "edge off" any price rise over coming days and weeks, there will be many that will be tope slicing their purchase by selling into that rising market so that they will end up with a "free ride". That said I am still expecting a good rise.

That might be true Latorre and Roger but even so £1 on discovery looks like pie in the sky to me. Monetization will be required to get to that sort of figure, and that requires a route to market. And Roger, as you well know, that route is likely to be a long one with the hoops and hurdles that the Tanzanian authorities are wont to put in the way..... GSA, Development plan, back-in rights, Ministry approvals, brown envelopes, you name it ;0)

Could it really be Monday?! Definitely not methinks - more likely two or three Mondays yet...

I am sure they would not run to the cost and effort of holding an EGM purely for the purpose of signing off a the granting options, so at a future AGM I would suggest.

Tanzania calm down for fecks sake - how many more times and, yet again I simply forgot to tick the "BUY" box.....

In my view any "hold-up" is down to the connected and interrelated matters of the GSA and the pipeline initiation. And even that is a bit of "chicken and egg" scenario..... who wil commit first TPDC , PURA?

And BG in the circumstance that you describe any new financial backer would, by hook or by crook, become another party to the JV and require both TPDC and ARA approval; I do not believe that at this stage of proceedings that is remotely realistic. Any additional delay past the 30th September would put SCIR in default, they will not have paid any costs for over a year. Are ARA going to extend SCIR any more wiggle room after all this time? Particularly when it is not in theirs, the TPDC's or AEX's interest? But the bottom line is this BG, ARA are in total and absolute control of that equation and so, back to the original point, the competion of the SCIR "deal" is not a material consideration - ARA holds ALL the cards.

" It makes no sense to me to go ahead with major expenditure when the legal and financial basis for the partnership is unclear. Both ownership and who pays the costs are not clear yet."

They are totally clear!! Currently SCIR share of the costs is being paid by ARA through a loan arrangement to be repaid upon completion of the deal. If the deal is not completed SCIR owes ARA the money - very simple! Of course, SCIR will not be able to repay it without deal completion and nor will they be able to fund ongoing obligations hence they will forfeit their 25%. AEA becomes "owner" in either event. The cost sin the intervening period are a rounding error and ARA (and in the event of default, AEX) are the beneficiaries.

What is unclear about that and how and why would ARA delay operational activity pending completion? The suggestion is nonsensical. ARA and TPDC want to drill and rework as quickly as possible as it is everyone's mutual benefit. What possible difference would the SCIR deal make one way or the other? None whatsoever....

I ahve not been able to find your email Jack; perhaps you could ask Mrs Webmoor to give you my number....? Then we could exchange contact details by text.

Good evening gents. Lovely to reconnect! It's a bit like old times albeit with some significant and sadly missed absences.

Let's reconnect "offline"; lots to catch up on that is not appropriate or relevant here. Would like to know how Mrs Webmoor is doing - I ought to give here a ring. The last time I spoke to her she was still using the Captain's old mobile number. I had always hoped I might get down to Gruissan to meet them both. Pity that the boat has gone but no great surprise.

Irish, if you have Jack's number or contact details please cirulate them and perhap we can arrange a get together? Are you ever in blighty these days or now permanently in the Emerald Isle?

And irish yes bloody hot in town today and really humid - the tubes were pergatory!!

Free ride?! I wish - and for one final time Roger I have never "traded" or "played" as you put it, AEX. So the shares I now hold have cost me "real" money. Though thankfully now in profit - just!