Member Info for CrustyPete

Well it is a pity in the short term but actually from a very selfish view point I am happy for it to continue; it allows me and all of us all to build a larger position at very attractive prices.

GLA

That is a good RNS - raising 4D profile and positive progress on many fronts.

Pity it comes too soon for my top up later next week - :0(

This IS the third attempt - from memory....

Details yes OG and BG but the news of discussion with Eclipse was in late March - from memory....

Anyway gents I must dash - yet another bloody Zoom meeting beckons!

Matherdj - if they had any common sense and control of those dates I would agree but I am not too sure that they are sufficiently in control of events to stage manage that. We have to have had an AGM within a certain time frame and that may not conveniently coincide with the timings of the Farm-Out completion.

And OG they closed the day at just over 2.0p from memory.... :0(

Apologies for approval read announcement.

Oh and just as a reminder OG that "big news" was SO good that the share price collapsed post approval...

We could do without another debacle along those lines.

No OG they did not.... they held an AGM at which the Farm-Out was approved but the Farm-Out itself had been flagged months in advance of the AGM.

You make a good case MAX but of that were to be true, how can they be sure that there will be "big news" on the eventual, as yet unknown, AGM date? If the news is "big" and therefore "material" they are not allowed to withhold it to a date of their choosing; they have to release it to the market as soon as they are aware of it.

So are the TPDC, APT or Tanzanian Govt holding back news just to allow AEX to release it on the AGM date? I seriously doubt it.

As a shareholder I would rather that they simply kept the market up to date with developments as they occur rather than (as you are suggesting) withholding it for better effect at the AGM.

Do you mean "au naturel" Frank?

So just in case you cannot read Frank - I do not take pills. Have you got it yet? I realise that you have to be told things several times before the meaning sinks in but I thought even you might understand that on first reading. Evidently not.

You just keep on "spitting hairs" Frank.

Maybe BG but it would still be reliant on a License extension and/or work programme approval if Nyuni / Kiliwani and Farm-Out approval if Ntorya and so again without either or both of these not "material" in my view...

Oh and Frank I am not the one on the pills and if you are not on the Prosac you really need to cut down on the e-numbers...

* hit not hot

DOH!

MAX, with regard to your view that there will be big news on the morning of the AGM must surely dictate that they know the date of that news and can elect to hold the AGM on the same date - that is with circa four weeks warning..... That seems something of a stretch as if they are already aware of the news and it is significant / material they are obliged to notify the market as soon as they are aware of it! So what you are saying is that they are aware that, on such and such a future date, they will receive (official) news of something they already know (unofficially)..... and that they will schedule the AGM to coincide with that news.

Even if that were true I do not think it would be possible to ensure that the two dates coincided - how often have the Tanz authorities ever hot a target date?!

In which case it must be news within AEX's or APT's control - maybe a Rig or Seismic contract? But then even that would rely upon the Farm-Out approval having gone through.... something of a conundrum.

Yes, you are splitting hairs - or, even spitting hairs.

21 working days is the actual figure but this cannot include the day of the notice nor the day of the meeting and must also include sufficient time for them to receive the notification through the post (minimum 2 days); it means that a very minimum of 25 days is required, and could be 27 dependent on how you interpret this. The only exception may be because the Company explicitly shortens the notice period in it Articles but even then can only shorten it by one day.

I had hoped that most people on the BB would accept 1 month as an acceptable approximation but it seems that you are a detail obsessive pedant Frank?

Perhaps I can ask you to ensure that you are just as detailed in all of your future posts?

Oh really? Which shares are you talking about? Not 4D Pharma methinks!

AEX have to give a months notice for the AGM.

Oh and for those that are interested the "unofficial" and real world spread is now 0.85 - 0.95p

I am with you on that Seawolf.

Maybe it will all change in the morning :0)

Goodnight all.

I have already provided my views on this subject and nothing discussed here changes them one iota.

Nyuni South is estimated at 57 BCF and is not yet even connected to the Songo Songo gas plant - so such assertions as - "....so waiting for gas to be discovered and tied in..." makes it sound so simple doesn't it? That will require a lot of money and an extended lead time. So simple that NOTHING has happened on Kiliwani for years and that despite it being AEX's stated priority for the whole of that period.

matherdj is spot on.

Nyuni = 57 BCF, offshore, requiring offshore pipeline to GPP, outstanding gas invoices and operated by a company who have just transferred any and all of their technical capability to APT to work on Ntorya and who barely have enough cash to keep the lights on ( lack of credibility with TPDC)

Ntorya = 1.3 TCF, 22 km onshore pipeline, multi well development programme, operated (post Farm-Out) by cash rich, influential, capable and credible entity (providing TPDC and Govt with confidence)

I would love to see Kiliwani resurrected as JB and the previous management long promised and totally failed to deliver. We all hope that the political context may be changing positively but it will require definitive action on the Govt's part to provide the confidence the market needs to bring new investors to this market, in my view. (Paying our outstanding invoices would be the most positive indication) We all know that it is this Govt inertia over many years and the resultant lack of confidence that meant that AEX had no investment or funding options but the Zubairs when the BOD went to market previously; and the reason that we got such a derisory deal... we are in just as parlous a position now and I cannot see anyone rushing to our aid at any point soon until there is a total volte face by the govt.

Reasonable maybe but I don't think time works in the same way in Tanzania... you need to be asking that question of the Tanzanian Govt. I am not sure "reasonable" enters into their vocabulary.