Member Info for CrustyPete

And I shall look forward to the day when your posts don't read like those of a one-eyed, intransigent, bigoted, self interested BoD sycophant Drewky... strange for one claiming to be so "balanced" but then as you have a self appointed crusade against any thing that doesn't suit your agenda that is supposedly justifiable. And the same for any who share your agenda.

As I said the other day Drewky, pure sanctimonious hypocrisy and nothing else; but then being as obsessed as you are with your crusade you cannot even see it or maybe you just don't care. If that is your attitude bring it on - if you are to continuously accuse me of negativity I should at least live up to the challenge.

So Drewky yes, thanks I will have a great weekend, you too. I am looking forward to next week :0)

I think you will find that I was "moaning" about our cash position long before today's RNS which, I remind you, I stated was "better than nothing" but hey never let reality get in the way of a good rant against the "naysayers" eh Drewky?

I am very happy M6 :0)

And so, once upon a time, did you Drewky.

Oh and totally agree P0werplay on the transfer of salaries to Zubair - every month's delay is another salary bill to pay at shareholders expense; assuming we are in a position to pay it of course.... ;0)

I use the word "solvent" only because until we resolve the issue we will not be able to convert our outstanding receivables into income - not since February will we have been paid on our outstanding Gas invoices and without that income we will no ability to pay the bills - unless we employ invoice discounting! :0) and there is little chance of that - and as of December 31st we had only $500,000 in cash......

We will be accumulating a stack of liabilities until the TDPC claim is resolved.

And yes Edgar you may be close.

To each action there is an equal and opposite reaction..... ;0)

Must dash.

Back in a day or two.

Oh dear Drewky you are becoming increasingly irrational; "whenever there is a positive spoken about, you cant help yourself to find and point out the negative". Well some more "objective" readers might actually call that "balance" Drewky? But you can only see things from your own perspective. Maybe you should look in the mirror. And let's face it Drewky if there was no cause for concern there would be nothing for me to articulate.

Do you not remember having exactly this exchange the other day. Yes, I know you are simply defending against the naysayers.... So being totally one eyed and totally ignoring or attacking everything that doesn't support your particular view is OK? But any alternative position isn't?

And more....

Why "Without "any serious chance of oil" why would I want to risk money finding it?" Do you really need to ask? Honestly? Surely that is self evident for goodness sake?! Because the "possibility of Oil" simply comes as a bi-product of drilling a well that has a very good chance of producing a very good quantity of gas, that is why Drewky... it comes at no extra cost. Simple stuff Drewky, simple stuff...

Also you need to re-read your own words Drewky you say "I think everybody knows that it is just a possibility, however it is a positive thought that people like to hold onto"

So how on earth is MY suggesting that Oil is a "possibility" NOT a positive that I people can hold onto?!

You are defeating your own argument Drewky.

I will leave you to your paranoia....

Have a great weekend Drewky :0)

Anyway one and all, I have to run now and will not be in front of a PC much, if at all, for the remainder of the week. So, in case I do not get another chance to look in before next week I will take the opportunity to wish you all a fantastic Bank Holiday weekend.

Good luck :0)

As I said a few days ago Dunder I think they could be struggling with the half yearly figures due to the TPDC "royalty" claim still being unresolved.... With that outstanding, with no income and without completion of the Farm-Out it could easily be suggested that AEX is currently insolvent. How will the accountants deal with that....?

I will be interested to see how they deal with it.....

Oh and just to be clear and to avoid future accusations of my having to make a horrible climb down, when I say possibility of Oil, I am NOT talking about Oil "shows" I am talking about Oil in commercial quantities.....

In the past it has been between last week in August and Mid September

The area "most likley" included Namisange...but yes that ws pre N2 which only drilled the Cretaceous levels and below which they identified liquids which, incidentally, they chose not to perforate because they thought it was highly likely to be water......

But you are right Edgar I am no expert, I just think it is grossly disingenuous and misleading to suggest that the likelihood of Oil at C1 is anything more than a "possibility".... But as you said "while I agree that oil is no more than possible" it seems we both agree on that.

I wonder why Drewky doesn't accuse you of being negative?

Oh and by the way Edgar it was Mike Rego that originally suggested that Namisange (and further West) was the place most likely to find Oil... but ho hum. Selective memory or selective interpretation?

I think there is a possibility of Oil at C1 but no more than that and even NR's "Oil play" quote does not do anything to suggest otherwise.

FFS what on earth are you talking about Drewky "If its as bad as you make it sound".....?!?! You really need to take a break man your paranoia knows no bounds...

Nothing that I have said in that last email in negative; I have said that C1 has always been a Gas play with the possibility of Oil.... The gas play in itself is a good enough reason in itself to continue to hold and with the additional "possibility" of an Oil play.

To my mind that is pretty positive Drewky. But self evidently not sufficiently positive to avoid accusations of negativity from someone who cannot see a balanced post when it hits them in the bloody face.

You need a reality check.

Tullow GL, Oil? Do you mean Likonde? Yes indeed it was.... Oil was the original "game" but it transitioned to Gas with Likonde and, thereafter, with NT1 and NT2 and for what it is worth ( I still believe) NT3 (C1) too, however you choose to refer to it.... The Oil shows at NT1 & 2 are not sufficient in my view to give any serious chance of Oil in the Cretaceous levels and, as the name change underlines, the lower Triassic and Jurassic levels are purely "exploratory".....a possibility but certainly not a probability.

Namisange and the surrounding area has always been the ultimate Oil target in my view.... though further work at Ntorya may change that in the longer term.

"we don't really know what is going on" very true GL and past performance is not an indicator or future results......Thank goodness for that or we could expect to see another 18 months with not one, single "operational" achievement.

Well, unless you count releasing an "Operational Update" as an achievement. It seems about as much as they are capable of recently.....

I agree GL and said so - but in reality all today's RNS said was "we are no further forward today than we were 6 weeks ago"....that is why I sad it was really a "non event".

Well thanks for letting us know BoD, now please let us know when you have actually achieved something. The last time was March 2017.... ;0)

Well yes I would agree that something is better than nothing but I would much rather see the BoD spending time sorting out these operational deliverables than posting meaningless tweets and RNS's.... ;0)

I take it you are after the vacant Chairmans' position SirRobert? ;0)

A valiant attempt to make a silk purse out of a sow's ear.......

"For those who have been concerned about delays to this well it will give some comfort that things are progressing on the ground "

Whe is he trying to kid?! LOL :0)