Member Info for CrustyPete

4 hours is plenty of time surely?! ;0)

What do you mean by "Least we still got Weds/Thurs/Fri " Jonesy?

"No new information will be disclosed."

I think is no more than a "disclaimer" BG - it goes without saying that Solo (nor Aminex for that matter) would be able to release "new information" in a publ;ic forum if that information was "material" or "price sensitive" and had not been released to the market previously.....

The RNS will be the "digital solution" for many clients and will have to satisfy the 48 hour rule too. Similarly the AEX emails that we get.

Well I guess that shows the difference in the perception of Investors Drewky - those that see the glass as half full and those that do not. I never gave the "end of November" any great credence, let alone belief, simply because, as you are constantly wont to remind everyone, it is NOT within the BoD's gift.... And I have learned the lessons of past experience and THAT is why I have been a "HOLD" ever since the AGM.

That said I do not think a week or two's delay will be disastrous - any more than that though and it threatens AEX missing the December / January weather window and that would be very bad news.

BUT the day is not yet over!! Let's have that conversation after 4:30 :0)

Oh and just to say - the day is not yet over... :0)

Drewky very few shareholders these days have shares in their own name so it will be their custodians that get the notification (on the underlying shareholder's behalf). That is why you go to your bank or your broker for an AGM/EGM invitation. They will (typically though not always) notify you by email or SMS that you have a "Corporate event".

The fact that you haven't received one indicates that nor have they....

Yes indeed Drewky so now you know why I have always suggested that Today is the cut off date.

My interpretation of that passage is that you have to allow both the day of notification, the day of the event (EGM) plus 48 hours for delivery. That equates to 4 days and hence 14 days becomes 18 days. So the 30th November becomes the 12th of November; unless the 48 hour delivery time includes the "notification" day in which case 48 hours effectively becomes 24 hours (the better interpretation).

In either event the deadline for delivery of the EGM circular for "end of November AGM" was either yesterday or today (my estimate).

So Drewky have you looked at "the clear day rule in section 360"....?

I suggest you do.

They do not get to vote on " rrlated party" issues but they will get a vote in anything else - MAX was talking about voting on BOD members ; they can vote on that with no issue.

Drewky - and did you bother to look up "the clear daycrule" in section 360.....?

I suggest you do, before commenting...

Yes Max I get that BUT ARA get to vote too. They will not be voting against the BOD, they have them in their pocket. Which means the PI's will have to out vote ARA....

Really Max? Are you kidding?! Can you really see our "cornerstone investor" voting out the geese that lay the Zubairs never ending Golden Eggs?

Getting the smaller shareholders to out vote ARA would be damn near impossible.....

Those that were at the May 2017 AGM will remember that the audience was told that Aaron Le Blanc was brought in for TWO reasons, the NT2 Drill and the successful remediation of KN1. Probably why he will be going to APT after the Farm-Out!! Lol ;0)

I wouldn't say "deliberately missed out" I would characterise it as "deliberately separated" - the Cretaceous Level is an appraisal area and has two successful drills to "prove up" the numbers. Any CPR for the lower Jurassic levels will be far less definitive and consequently conflating the two sets of numbers would add to confusion methinks. Until we have drilled the Jurassic the two sets of figures are not comparable....

Is the Jurassic the most likely level for "Oil"? I think there is a small chance of "liquids" in both levels but for Cretaceous it is more likely to be Condensate (despite NT2) than Oil . I also believe the chances of commercial quantities in either area is slender, though even small quantities of Condensate can be commercial...

My previous post should have said Jurassic layers not Cretaceous (I am sure you recognised the deliberate mistake?!). Pure conjecture BUT the last CPR was created to support to 25 Year development license application, which in itself was purely development of the Ntorya Cretaceous Levels and NOT the Jurassic and Triassic levels.

I suspect that they got this out as soon as they could and including the, then irrelevant, Jurassic levels would have simply added further delay to the process. Since then they have had time to look at it whilst the Development License application was running it's course..

The 900 BCF figure given for the Cretaceous layers was an "internal" figure estimated by the BoD - or at least released by then BoD. I suspect that the new CPR will confirm (there or thereabouts) the previous "unofficial" figure

I would agree TB, the KN1 remediation plan "sign off" should not be contingent on anything BUT we have been waiting for it for about 18 months. So it is either because the various suggested remediation strategies that the BoD have come up with over that period have been unsupportable or tat something or someone has beenm deliberately dragging their heels... I suspect the latter, though whatever happened to the first two suggested strategies and why did it take the BoD over 12 months to come up with the most recent version? Why did it take them over 12 months to identify that there was actually another target zone that we could explore? Without adequate explanation it could be suggested that the TPDC have had every good reason NOT to sign anything off during that period. How much money would we have wasted before recognising that there was a "third way" all along? Maybe we should be thanking the TPDC for NOT signing off on the "compression" strategy.....

No wonder they don't want AEX running the Ntorya Development programme. And by holding back on KN1 sign off they have made damn sure they will avoid it... "simples" ;0)

I am not saying there will be delays Frank, simply that if there are it cannot be good news and if any delay is more than a week or two it could have a significant impact on subsequent events. If that were to occur alongside the effect of a "No Deal" Brexit result the next few months could - I stress COULD be fairly grim.

Conversely we could have the License Extension tomorrow followed by the EGM circular and then a December spud date for C1. If so I would hope that the outlook for the sp would be set fair and any Brexit impact would be insignificant. Not least because a poor Sterling exchange rate would be perceived positively for a $ earning company like AEX.

For this reason Kiliwani remediation and a return to income is probably just as important as the Farm-Out for the short term sp. And (in my view) getting the Kiliwani Work Over signed off by the TPDC is probably also contingent on getting that Farm-Out so the earlier we get it the better.....

It is self evident Frank that they cannot sign the contract without shareholder approval and that the EGM is contingent on the License extension but once all of these have occurred there is no reason why everything else cannot then follow in quick succession. (This too ignores the possible impact of the 25 development license approval on Farm-out etc but that is not a known quantity.)

However if the delay is significant it could mean that they cannot kick off the C1 spud in the December/January weather window and that would be a significant knock back in my view....

There is also the spectre of the Brexit negotiations going "tits up" and whilst this will have no impact upon timings it will, I am sure, impact the market and if added to a License extension delay and/ or EGM delay the combination may impact the sp in the short term.