Member Info for CrustyPete

Anyway I am "away" for the rest of the week so you can bet your bottom dollar that something will occur during that period....

So GLA until next week. I will try and look in when /if I get a chance.

yes CP and I would agree that the risk reward ratio is very much in Solo's favour but they are far from being a "free bet".... how much will it cost Solo to hang on to that 25% and where might they get it from. Not too much of a stretch if they have only to fund 25% of C1 but if they are called upon to fund 2,3 4 etc before the EPS starts to pay off. And yes, I know, they can sell up after C1 but that then means selling a proportion of that126 million barrels well before 2C becomes 2P and that means one hell of a discount if the buyer then has to pay for C2,3 & 4 as well as the 25% (or a proportion thereof).

AEX always said that Ntorya was self funding but with long periods between drills as the previous one was monetised through a route to market - the sole purpose of the Farm-Out is that these waiting periods are no longer necessary; hence, in my opinion, the "partners" will have to pay up for development long before monetising the assets.

A nice problem to have if you have deep pockets - unfortunately neither AEX nor Solo have. AEX have accepted the life line of $40 million (deeply discounted over two -three years) to maintain 25% - Solo won't be able to do that. Will they cash in? Or try and keep a foothold in Ruvuma with a 5 - 10% holding? If so they will have to be carried for that %age so wont get much for the element they sell methinks?

No great surprise there Frank - 63% down on the sp and 66.6% down on our ownership of our principal asset...... and that is WITH the Farm-Out; imagine what that would look like without it? Then we would be 100% down on our once upon a time principal asset

And NO I don't mean it.........

Well not totally anyway ;0)

Oh sorry, most importantly, more often than not this balancing trade is put through at the end of the day.....

Oh sorry, most importantly, more often than not this balancing trade is put through at the end of the day.....

For what it is worth Drewky some of these off market transactions also account for some of the very many small Buy or Sell orders that often get accused of being those of "traders" trying to manipulate the price. Many of the trading "shops" internalise transactions and then only settle the balance through the markets - so IG Index, Saxo etc may have many small buyers and sellers (traders) of the same stock at any one time and they will off set the buys versus the sells themselves and then sell or buy the "balance" in the markets. This balancing trade is usually as small as they can make it....

Depends where the website is getting it's data feed from Drewky. Some websites only report "market" trades - that is those that take place through the LSE or other official markets. Others report these and also those trades that occur "off market", maybe a trade that a Platform executes? When the Platform has a buyer and seller and they match them "off market"? If this occurs it will be reported to the LSE but not necessarily included in any "market" trade data feed - depending on which data feed is received....

Probably as clear as mud but I hope you got the gist....?

Oh the 2017 AGM? Oh I see that makes lying through your teeth okay then. Had you missed the point that he was still holding several million shares until AFTER the 2018 AGM. .... or was that just a inconvenient truth that you chose to disregard in your ignorant assessment? Some pump and dump that was then eh?!

Pumped it before the AGM? Absolute nonsense we had not heard from TipTop for MONTHS before the AGM. But never let the truth get in the way of a good character assassination eh willowpillow.

Pump and dump merchant? Hardly. But not a total though liar eh willow?

Hello there pyjamaboy, what an unexpected pleasure; I was beginning to fear that you might have left the Old Faithful on the AEX BB. How are things with you....?

As JC says Tiptop sold up after the AGM - like me, truly gutted with the Farm-Out developments and has now re-deployed his cash at AAOG.

"shorters and deramping goes on and put forward that it has little or no effect then why do they scream foul when anyone posts what they consider a ramp? " My suggested answer to that Drewky is the obvious hypocrisy of those decrying shorters as the reason for "this grossly undervalued share price" at the same time as doing all in their power to buoy the sp up.....

However no matter - I have long stated that I do not consider that these BB's have any meaningful influence ion the sp in either direction. As I indicated below the traders (of both persuasions) can simply magnify the trend and help create a price volatility the sp will always move back to the trend line over a few days or at most weeks.

Only 7p Frank?! ;0)

I hope so, I certainly hope so....

Shorters? No Dunder I am not arguing it one way or the other - only that even if there are any they are an irrelevance.

Sorry dunder I just noticed that faux pas - NO of course not,10% was what I meant to say and that would be optimistic. :0)

And just so I am being clear Drewky I am not suggesting that traders have NO influence but it is limited - they simply magnify prevailing momentum they cannot create it..... That the BoD have managed very successfully all by themselves over the course of the last 18 months - through inactivity, underachievement exacerbated by really poor communication. The BoD's very predictability mean that the shorters have it all their own way; by feeding of the BoD's lack of delivery. If I were not a (relatively) large shareholder myself I would be quite happy watching JB's (shareholder funded) nestegg dwindle away - you reap what you sow and by heck he has sowed it.

Today's new FAQ and the recent Presentation are a welcome change in BoD's attitude towards their smaller shareholders but, quite honestly, it is too little and far, far too late to make a difference; the momentum has been only one way for 18 months.....

"Yes no comment on the claim, regardless the Money that the TPDC owe aminex is in excess of the amount being claimed," - Yes indeed but the difference is minimal.

Drewky you say - "While I agree confidence has been sapped here, I am hardly surprised due to the highly draining and demoralising content produced by posters in that period."

Are you seriously suggesting that the posters here have a greater influence on shareholder morale than the BoD that runs our company? I think I have heard it all now - we could hardly raise 5% of the shareholder vote when we were looking for that meeting with the BoD last December and most of those are still shareholders today so the implication is that it is that small number of shareholders that "control" the share price.

So our "moaning and whingeing" about the total lack of operational delivery for the last 18 months, the consequential erosion of our cash position, the prospective sale of 50% of our principal asset for a song, the lack of support or, at least, sign off from our "partners" the TPDC throughout the whole of that period and the continued lack of delivery against seemingly any target date or delivery is far more important in eroding confidence than the actual facts themselves...?!? When only 90% at best of shareholder base actually read this nonsense board....

Again you state "Many decent posters have simply stopped posting anything positive because they are consistently slapped down and ridiculed".... it is not the fellow posters that are ridiculing your positivity it is the actions of the BoD - their actions make your valiant attempts look faintly absurd - they seemingly let you down at every turn.

I absolutely agree Drewky except with your comment regarding the "traders" - it is not the traders that bring the share price down it is the progressive erosion of confidence in the BoD that the seemingly never ending stream of dubious and misfiring statements engender that is the culprit.

If the Farm-Out does not occur before the end of November their credibility will be at an all time low with a predictable effect on that sp as many once loyal shareholders feeling let down by the BoD yet again decide to desert the fold rather than hang around for the BoD to deliver them yet another kick in the bollocks

"confirming that both the Farmout and KN-1 remediation is still on track".... "on track" since when has the KN1 remediation ever been "on track"...... 18 months and still waiting on the TPDC for sign off and it now seems that the Farm-Out might be slipping to December?

No comments on outstanding TPDC claim I note. Well of course no-one had been asking that question....

And actually randomaxe your statement might be true "So EGM still in November to finalise farm out"... but overlooks the fact that originally the Farm-Out was expected to complete before the end of November but it is now anticipated the EGM will be held before the end on November. So maybe yet again the goal posts move; the Farm-Out now looks to be December then?

When is the EGM for the farm out deal?

The Company is actively working on the Circular, which will include an updated CPR. Aminex expects that the EGM will be held prior to the end of November.

But at least we will have a new CPR, roughly 12 months since the last one - hopefully it will include the prospective Jurassic gas resources....?

Well it goes to show that our $2 million a year on wages is not being totally wasted - there is at least one person in the office :-)

It will be interesting to see outcome of any further questions that are put forward; or will they follow the usual politicians ploy and only answer the questions that they want to answer....?

What impact has the lack of cashflow from Kiliwani had on the Company’s strategy?

The lack of cashflow has not impacted the overall strategy...... Oh really?! You mean that we were always going to farm-out to our related investor? Actually, silly me, that was probably the intention all along.