Member Info for CrustyPete

If we do not end up spending the $35m, we get it paid back from incomes post production, so yes vike1 I suspect it will be wishful thinking.

It will be good to see what the week brings :0)

The sp would rise if enough people were buying it. The fact is, they ain't... :-(

And nor will they until the news is material; significant enough to "change the dial". We will have to wait until next year for anything that is likely to achieve that.

Anyway one and all I wish you all a wonderful weekend.

GLA

The MM's are ensuring that there is no profit in it for the traders - range bound and a large (quoted) spread. Even for the traders to make money the sp has to move and it just ain't moving.

So invoice payment, seismic commencement date and yet still no appreciable movement. What a surprise ;0)

"I doubt even the most useless statistician in the World would consider that "an awful lot of selling".

I would tend to agree with you Haggis, though there are many on here that would use (and have used) 2.5m of buys as more than enough justification to prophesy an imminent momentum shift on the BUY side....

Nor recently, no. Indeed not for a good while; pre Covid probably.

I must give him a call.
I

I must give him a call.

You and me both TITM. But then, were I to say so, I would be shouted down by those that would rather the board was simply a platform for rampers and the "rose tinted" ;0)

Though thankfully at least a few of them seem to have recognised that their hyperbolic predictions of the last 6 (plus) months for "walls of news" and multibagging sp predictions have been proven misplaced and have been replaced by a dose of realism.

Patience will be rewarded and let's face it what are a few more months after a decade of waiting? :0)

Agreed CP and the original "game-plan" was to provide LPG through the offshore supply network, thereby avoiding the need to connect pipelines to land based "terminals". That said much has changed in the intervening 5-6 years and there has been no offshore exploration for a long time. If they are to rely totally on offshore wells and pipelines to supply the LPG infrastructure they could be waiting a very long time. That might force a change of strategy for land based suppliers who it was always seen would be the "engine" behind the rapid expansion of Domestic Industry founded on low cost, land based, domestically produced energy. Using the, more expensive, offshore based production for higher priced, higher value exports.

Oh well, let's be thankful for small mercies MAX, over a penny in a few months is a bit more realistic than 1.5p tomorrow or imminently.... I thought we should have expected to see that on "invoice payment".

Only joking -:0)

Staylong they may well be confident but that doesn't necessarily mean they are right..... I am always confident when I invest in a new company but I have certainly have been wrong on many occasions and many of those I have had many £100k's in too.

This is AEX and Tanzania Tom - you cannot guarantee anything! ;0)

Unlike you PoC, where it is always la-la land in your head.... I bet you still believe that we will get the seismic results before the beginning of next week. Dream on. Lol

You are right, of course, PoC I do believe the sp will be up after the drill but my comment was in response to edgar's view that AEX will not have a dilution. I simply disagree, I am not commenting on the timing. Yes, if they are to have one have it makes a lot of sense to have it after the drill when it will have minimal impact - but my view remains, we will be having one before "production".

The only way to avoid it is if we can kick start an income from Kiliwani - which is of course a possibility but not without spending money or a "dilution" via a JV.

Anyway I must dash so, finally, bye bye until Monday!

You need to check the last FY results PoC, they are anticipating spending just below £1m per annum. There is no guarantee that they will now use the remaining loan facility and even if they do they will be pushed to make $4m last until production. And that presupposes that they do not spend any money on Kiliwani remediation.

You Edgar think $1.8m will keep us going until 2024/5? Even without spending money on Kiliwani?

There will be a dilution of some form between now and 2024 whether it be for explicitly for "keeping the lights on" or for remediating Kiliwani may be difficult to distinguish - a convenient "fudge" perhaps.

Anyway back to driving now - after a good piece of Friday afternoon news. ;0)

Very good news! And yes BG, even sooner than I could have hoped. Pity that we didn't get the long proclaimed $3m but there was always likely to be some element of horse trading and hey its a lot better than it could have been.

Now let's see if those predictions of dramatic sp rises are true? Who was it that said 1.5p?

Ha, "discovery"? But Tanzania I thought we had already "discovered" it....? If you mean do I think that seismics will increase the estimated reserves, then yes I do. By how much? No idea. Do I think it will significantly increase the sp, Tanz? No. Even, if we increase the reserves by, say, 50%, at current levels that would put about 0.30p on the share price. ;0)

Having the gas in the ground and translating that into share price are two very different things. The gas might be there but there is no guarantee that we (sorry, APT) will be able to successfully extract it; though to be honest there is more chance of that happening with APT in control than AEX - just look what AEX managed to do to Kiliwani and NT2...

And yes Alcapone $1.5 billion of potential future income sold from under shareholders feet for $5m and some free carry. As I said before Al, the deal of the century for someone but certainly not for shareholders.

Anyway gents, I am leaving shortly for a weekend away so I wish you all a wonderful weekend.

Bye for now and good luck all.

Yes BG so we effectively sold 1,500 Bcf for $5m and some credit...... Now that was one hell of a deal - for somebody but not methinks for shareholders. No wonder most of the board resigned (or "retired") shortly afterwards.

Anyway that is all history now.

GLA

Sorry, I never got to finish that post (on a train). So yes BG "They needed to sit down and do their homework, which is where we are today." A "monster discovery" that we sold 50% of for $5m and some credit!! So here we are over five years down the track, having sold off the "crown jewels" for a song, run out of money, mis-managed our only producing asset and with all our technical expertise having been forced to leave.....

What a great story.

"They needed to sit down and do their homework, which is where we are today.

Pessimism Tanz? No not at all. How many times do I have to say the same thing. If I were pessimistic I would have sold up ages ago. I am no masochist Tanzania. I belive we will all get our long awaited payday eventually.

So just one more time for the hard of hearing. I think we will get our invoices paid, I think we will start long lead items for drilling, I even think the results of the seismic should be good, we may even get to start the remediation of KN1. All of these are good news and are indicative of a more helpful climate on Tanzania; however I do not share the unjustified (in my view) optimism of those that have been telling us now for months that these things are all going to happen "tomorrow" - that has already been proven to be grossly optimistic (one even said we would have seismic results by now... LOL!). I believe that we could still be waiting some good while for these things and that none of these individually will have a significant impact on the sp. On the other hand there are those that may remember my saying that we had wiggle room for the seismics and that as long as we started before the year's end we should still have time to get the results in time to enable the Q2/3 CH1 drill 2022. And the drill (or at least the announcement of the Spud Date) I believe will provide the sp catalyst that we need to get this moving. That should put a smile back on most people's faces.