Member Info for CrustyPete

"Sounds crusty and stale to me..."

That will come as no surprise to anyone, after all PoC it really doesn't suit your agenda does it?

"Move on and let others see the positives so they can be rewarded."

You mean move over and let the rose tinted rampers have sole run at the naive and the uninitiated you mean...?! Fat chance PoC, I have seen wave after wave of short term dreamers come and go on this board and I am sure I will see a few more yet before that final payday.... I will be sticking around and probably for longer than you.

Ostrich mode.

"Why is it a kick in the balls?"

"..... it now expects to report its 2020 Annual Report and Accounts in May 2021, rather than by 30 April 2021."

So AEX all over again, rather than under promise and over deliver, continually disappoint shareholders by doing the exact opposite.

You really don't get it do you PoC? Maybe when you have been a shareholder for over a decade you will recognise the "symptoms". It is not a question of the accounts being late, as you rightly say many are similarly affected, but the stupidity and the thoughtlessness of the Board in not taking the opportunity to manage shareholders expectations. They could easily have prepared us for a June release but no; over promising for the umpteenth time.

Unnecessary and counterproductive. It breeds mistrust.

Lol, Alcapone I am with you but surely you cannot claim to be surprised?! Whenever you believe the Board cannot possibly disappoint shareholders any further they come up with yet another kick in the balls.

You have to laugh. :-)

Yes grsshaw the term "bust" might be construed as somewhat hyperbolic but the reality has to be accepted that unless we get our invoices paid we do not have enough cash to take us through to Ntorya production nor the cash to enable us to reinvigorate Kiliwani - both of which are, incidentally, also totally outside our control.

Hence what I would like to see in the EOY figures and the CEO statement is what they intend doing about the above; what are they doing to provide us with ongoing cash flow? Otherwise our ongoing viability statement, our "going concern", will look a little negative.

Oh and for your information grsshaw, I won't be selling any time soon.

grsshaw you suggest that you hope the accounts are good. "(and they are good)".....

What on earth would constitute "good" in your view? We have zero income and yet considerable overhead - the best that we can hope for, surely, is that we haven't yet gone "bust".

Well I honestly hope you are not disappointed. Just beware that one swallow does not make a summer, so don't count your chickens yet grsshaw.

License extension and payment of the Kiliwani invoices please; then I will believe it..... until then it is nothing but words.

Indeed grsshaw I could not and would not choose to disagree with you, all that you have highlighted would appear totally logical. Unfortunately the Tanzanian authorities have rarely appeared to do anything that most rational, effective and honest administrations would consider appropriate. Indeed most decisions and policies effected by the Tanzanian authorities in the last 5 or more years would have looked to any impartial observers as counterproductive, dysfunctional and self-destructive; being largely motivated by self interest and the establishment of a Control Economy.

Unfortunately (in my opinion) that mind set is not something that will disappear "overnight", indeed I am sure there are many in Tanzania already wishing that they could turn the clock back; how many are no longer able to line their own pockets as they once did?

I think that in the longer term the new pipelines can only benefit all interested parties and, if that assists AEX / APT in hastening the development and production of the Ntorya and Nyuni / Kiiwani projects then that too is fantastic; however there is no tangible, direct correlation between the various projects other than speculating that the gas form Ntorya might end up getting used in the pipeline and, even if that were to happen, it will be long after I have sold the vast majority of my AEX stake.

The environment in Tanzania appears to be changing for the better but it will be a long time before that change compensates for the negative impact that the previous 5 year of the Magafuli Govt has had on AEX projects, shareholder value and AEX cash position specifically and the O&G investment community in Tanzania more generally.

It would be easy to say everything from here is positive and maybe it will be but I have become too jaundiced over recent years after seeing the Tanzanian authorities virtually destroy AEX with their incompetence and intransigence and so I will believe it when I see it; the proof of the pudding is, they say, in the eating.

I would certainly be more inclined to believe it if the TPDC and Tanzanian Revenue were to take their metaphorical knee off our neck and pay us our outstanding invoices. Before that occurs it will remain more like of a change of style over substance.

You would hope so CP but you may remember the conversations that we had when Aminex were still the operator in relation to their having to get the TPDC to sign off on any RNS announcements in advance of their release and AEX being "ambushed" and undermined by their then (AIM and AUS listed) JV's making RNS's without such "approval". So I suggest getting those approvals now, from both APT and in turn the TPDC, will be even more difficult and protracted (they will not want to incite the opprobrium of APT, methinks); so I would expect to see only those RNS's that they have a market requirement to release - so "price sensitive" information only and on a "need to know" basis.

If only I had more cash Rog but unfortunately not.... ;-)

Maybe Confounded but no explanation of the aberrant placebo results? Why so? Surely this will be required to provide necessary comfort?

The US results look incredibly good.

My only concern is that the UK and Ireland placebo figures look really odd; might this cause observers to question the validity of the trial?

And it isn't going to get any better with AEX now totally reliant on APT for any and all information; the Omani's don't have any obligations to AEX shareholders and are notoriously publicity shy.

All very "logical" BG but then when did anything that ever happens in Tanzania follow "logic".....? Maybe things have changed and I sincerely hope they have but to expect it to be so would not be so "logical" as it would defy the lessons of history. But then logic is deductive whilst "learning from the lessons of history" is inductive ;0)

GLA

"1p gotta go soon"?

Really?! Not without news. If we continue with the radio silence it will continue to slide.... News of any kind would offer a boost.

I am not suggesting SCIR can't pay CP; simply responding to BG's point about their, maybe, choosing not to pay......

GLA

If Scir don't pay they concede their 25% interest - I don't think APT will be too worried BG do you?

You reference the JOA - so please point to the section that references "cash calls".

And there will be no cash calls for AEX - APT holds the purse strings.