Member Info for CrustyPete

Well I rather hope that the next bit of news relates to the extension of the Ruvuma License - the Nyuni Licence is a bit of a side show by comparison. Besides which before there is a conversation about the Nyuni License extension we rather need resolution of such things as the outstanding Kiliwani Invoices as I believe the Nyuni and Kiliwani Licences will be merged.

In retrospect matherdj I should have exited after the F/O announcement but of course like everyone else was still hoping (against my better judgement) that we might see a H1 2021 CH1 drill. My holding is now worth about £60k at today's bid price o is hardly worth worrying about. I will simply sit tight for the dilution and average down yet again hoping for a good pay day in 2022....

After all matherdj what's another 12 months for an AEX shareholder?! There are investors here that have been for longer than any of the existing and previous Board members...

All hail BH eh?

"do you really believe the Zubs will allow dilution of Ruvuma to a third party?" No OG certainly not their own interest but I doubt they give two hoots about whether AEX shareholders get diluted. Moreover depending on the form of dilution they have the means of ensuring that their own shareholding is maintained and if not that then they may be the entity to whom we are diluting - in which case they get two bites of the cherry......

Another 5% of the license passing from us to them for a pittance, maybe? A loan to get us to production but at the cost of a disproportionate reduction of our income stream when it arrives?

In any event another win - win for the Zubair family at AEX shareholders expense. "But CP" I hear you say "they too are shareholders so that wouldn't be in their interest". Well that presupposes that they were ever interested in holding AEX as an "investment" rather than as an "asset stripper". Even if that was never their original intention that is certainly what they have become. 50% of Ruvuma for $5m and some credit.... that is bloody good business and more than worth the £24m that they have "invested" in AEX since 2016.

And there is still more within AEX for them to extort from us yet.

Q1 covers January, February and March - hence "early" Quarter 1 would surely be any time in the first "half" of that period - hence anytime before Mid February.

I hope that clarifies StarJump?

Mid February I suspect.

At least I hope no sooner; any delay allows me to get more in there!

GLA

FWIW Dunder I totally agree with you on the "dilution" angle; it is inevitable. The only question is how and by how much we will all get diluted. This is precisely the reason that I am not pumping in any more cash at this stage. Better to wait until that dilution has been effected, we have "cash in the bank" and our short / medium term liquidity requirements have been both identified and satisfied. Until then our continued participation of Ntoya is potentially a question; how much of this will we have to give away to keep the lights on? And before any one asks the question; NO I do not think that there is much if anything in Kiliwani or Nyuni that we can leverage. They each involve too much in terms of uncertainty, time to market and investment and not enough in terms of payback.

MaverickD - I note that you haven't commented on the couple of 1 million SELLS this morning or even the couple of 500k SELLS.

Is there any particular reason for that? Other than that it doesn't fit your agenda, of course?

Need to look at the spread and trades at the time of that trade; 8:01 this morning....

That 350k trade took place at 8:01 this morning Olly. Do you know that 132.70p represented a BUY at that time?

Oh really MD? So show me the couple of 1,000,000 buys at 0.55p that you had reported by 9.56 this morning. The fact is MD they did not exist. But yet again why let the facts get in the way of a blatant ramp eh MD?

Thankfully everyone here recognises your vapid eyewash for exactly what it is....

I hope so mouse, I really hope so - something needs to happen to buck the recent trend....

Here's hoping mouse :0)

No MD they haven't (take a closer look) but hey, why let unfortunate facts get in the way of a blatant ramp eh? After all it has never stopped you before - and certainly not at any time on the way down from 1.40p!

I wish you a lovely New Year one and all.

Being generous it could be suggested that the completion of 3D seismics and CH1 drill are contingent and consequently inseparable; if so, then the initiation of the seismic programme could be considered as being the beginning of the drilling programme?

Rather more important, I believe, are the issues of License Extension and future AEX funding; it is these that will determine when the CH1 well will be drilled and whether, or how much, participation AEX will have in that drill....

I will join you in that Irish, though forgive me if I make that toast with Armagnac ;0)

They are way past my drive Irish - they stretch as far as the eye can see. :-(

Hello Steve, I too am in to 4D (quite heavily) but am holding, not folding, here; what's another year after more than a decade?

For a number of possible reasons; they are overexposed, they cannot cover their long position or maybe they now have so many that they have a notifiable position.

What funding is that chesee? Are you talking JV, placing, Invoice payment, Loan? What? Or just a shot in the dark?
Or are you referring to the measly $300k that is still to be paid on the F/O?

Which of these is going to cause the sp to shoot up and how? Nothing comes for free...

If that was meant as a lame attempt at ramping Sound on the AEX BB then it failed dismally..... what an ar5ehole