Member Info for CrustyPete

Well I sincerely hope that we see the majority of the long termers turning up at the AGM this year - most of those that I have attended with in previous years are either no longer AEX shareholders or no longer with us. Though I would hope and expect to see the likes of vike, cperkins, leaflessclover, drewky and one or two other familiar faces there.

It will look somewhat different with none of the longer term Directors still on the payroll.

I note now that we have an ex Zubair CEO..... the "takeover" looks complete. :-)

1.10 - 1.20p

GL, I wish I was there with you and a large number of fellow long termers to share that bottle (or 10!) of Bollinger.....

I will be raising a glass later today and toasting a few old and now, sadly absent, friends.

Well done for those that kept the faith.

Oh and sorry, goodnight all. Let's see what next week brings.

I wish you all a wonderful weekend - I hope the sun shines on you wherever you are :0)

I hope your confidence is justified Highroller. Incidentally how long have you been a shareholder here?

I only ask because based on 9 out of 10 previous Reports and Accounts it would be foolish to base any estimates on previous figures; the AEX board have always been able to amaze their shareholders with their ability t spend shareholders money....

So you are right HR it is a GAMBLE..... and suggesting anything else would be disingenuous.

The $5 million (in two installemnts) that has been "advanced" to AEX from APT is specifically hypothecated towards spending on Ntorya NOT for general overheads I am afraid to say. Moerover the second of them is purely contingent on the completion of the Farm Out.

Exactly the point that I was making earlier GL - so many conflicting and unclear statements over the last two years it is impossible to give any of them any credence; unfortunately.

Well as I have suggested before that doom and gloom as you describe it will seem as nothing as and when the AEX Reports and Accounts indicate that they can no longer cover their overhead and need to raise money or increase borrowing to keep the lights on. At that point their accountants will have to say that they are not a viable going concern.

I am fully expecting that statement at the next set of reports and accounts - because without income I do not believe that they have the ability to cover their overhead for the next 12 months and APT changing their advanced payments of $3m to a secured loan with interest is going to make that equation even worse....

So be prepared Highroller, be prepared.

Basic routine stuff?! Lol! Well that may be your opinion; so if it is so basic and routine, how do you explain why it is that have we been waiting for all of these for well over two years (nearly three) Highroller? And what makes you think that anything has changed that will mean that they will be resolved anytime soon....?

Reference the WEN report. My concern is that we have heard many and various reports on when the PSA "report" is anticipated, some even suggesting that it has been completed. Moreover there have been reports in the past that these so called engagements with individual PSA joint ventures has already taken place more than once. So it just seems to be the same old merry go round.... this in now well over two bloody years in the conclusion and with no obvious method or reason to the process. It seems they are making it up as they see fit.

No-one can have any confidence in the eventual timing or the ultimate conclusion and that is not a good scenario for AEX or shareholders.

"But would that not be fraudulent?" Ha, well even if it was, who are you going to sue? the Omani's or the Tanzanian Govt?

Actually I do not believe that there is any conspiracy not unless every gas/oil player operating in Tanzania is also involved in the same or similar strategy.

Unfortunately conspiracy or not, unless the Tanzanian Govt takes the brakes off very soon the outcome for AEX and AEX shareholders is very much the same and the ultimate winner will be the Omani's. They can sit it out for as long as necessary but lil' ole AEX haven't got a pot to pi55 in.

The problem being Highroller that by the time we get to the "next spin" there may be no chips left on the table to play with....

AEX funds WILL run out at some point and as blackgold has pointed out APT may decide to call in their "secured loan". Then the final curtain falls and APT have ALL of AEX's "assets".

A fantastic strategy if you believe in conspiracy theories. :0)

"interest bearing"? Is that actually legal in Oman?! ;0)

But not likely to be of much benefit in my lifetime!!

The fact that there is now a road in the region that feeds the local cement factory complex (Dangote) the seasonal factor (rain) is far less influential.

Well that may be true Apache but do you also remember the rise from under 6p to 18p? I do, and very welcome it was too - I made an awful lot more than £140.

Although yes, I have lost half of it since !! :0)

629,746 in at 11.11 and out at 14.41 for the princely sum of £140.00.

Good god why bother?

So what is true of the goose is also good for the gander....? At least in principle.

That is a good point but as Zen has neither of these why the purchase....?

But with $5m of potential receivables.....