Member Info for CrustyPete

Unless the MM's want upside protection. If someone comes in with a bog BUY order they can then charge them pretty much what they like. They are only obliged to offer stock within market size up to the quoted offer price of 2.80p. If there are any "nosey" buyers out there buying in advance of news the MM's don't want to get caught out....

They were taking stock at 3.16p so quite a bit above the quoted bid but anything over market size would have been offered bugger all....

They daren't raise the bid too far otherwise they will end up with a load of stock and today's news, whilst good, is hardly likely to generate the necessary buyers to soak it up....

To a large extent Dunder I do not think that the abiity or otherwise of the Mgt team would make much difference to the recent timescales. With everything having to be micro managed by the TPDC I tink the timescales are latgely out of the Mgt Team's hands. The only thing that would change that is not the skill of the Mgt team but their influence and depth of pocket. I would ahve hoped and expected that they Zubair connection shoud have been brought to bear here - and who is to say that is hasn't been? Hence I think that the timescales are probably as advanced as could have been the case. KN1 remediation would be the acid test of this theory in my view and I hope that this will be revealed at the AGM..... The NT3 spud date and drilling strategy though is another issue? Would we have been better drilling back to back? That seems clearly to have been a mgt decision; correct at the time maybe? But in hindsight seemingly not.....?

Actually apologies I meant the last calender year NOT Financial year - during the Financial year they have drilled NT2 of course (which they nearly fecked up). I was meaning since the last AGM which is a better measure. They will probably argue that the rises and options were issued in the 2017 Financial year during which they did drill NT2. Pity about the performance since which, to my mind more than outweighs NT2 which was something of an "own goal" anyway as it should have had a far, far larger flow rate than they managed to achieve.

I would agree with that Kimosabi. It would be different if they had delvered anything tangible over the course of that Financial Year but actually they have delivered nothing...... The only things they can point to are those delivered by outside, third party consultants that will have cost shareholders a lot of money. What can the BoD actually point to that has justified their wages, let alone large increases and share option payments. The sp is half what is was a year ago due to that very lack of delivery. I won;t belabour the point but if you look at where we weer a year ago and compare it to the position today it could well be argued that teh Company has gone backwards during that period. And, until the Licences have been extended, the Development License actually gets signed sealed and delivered, we successfuuly remediate the production issues at KN1 and we find a way of funding ongoing development of our assets, not least the long overdue drill of C1 NOTHING is guaranteed. And who is to say that we won't still be waiting for all of these this time next year....? Yes, it appears that we might be close to resolving most of these issues but to pay yourself these large increases before they have actually been delivered is bloody minbogglingly arrogant. Moreover if the BoD end up recommending a low ball farm-out offer from Eclipse they will have deserved NONE of those increases or the option awards as it will be their own inability to sort out the KN1 issues and their decision to defer the back to back drills of NT2 & 3 that will have forced us into that position..... They should be giving up those options at the very least....

There may have been more trades but for a shortage of stock....? Some people below not getting trades filled.

willowpillow that's already been tried on an "official" basis to avoid any accusations of "bribery" - it came in the form of the $2.73 million supposedly owed by AEX to the TPDC.... ;0) Only joking!

+1 Drewky. I couldn't agree more.

Agreed CH but even so there are circa 2.4 million SELLs and 1.3 million BUYs and I agree with Matherdj that the "real spread" is about 2.64 - 2.70 so in reality the sp hasn't really moved today - simply that the spread has widened. That said I would have oridnarily expected that ratio of Sells to Buys to have caused the sp to dip a fraction. So maybe there is a buyer in the wings or the MM's are accumulating....? Or both? I think the next sp movement will be telling.

Speaking of which I wonder if Flandy is still with us? Haven't seen him post in ages. Are you out there Flandy? Will we see you at the AGM?

That was true in Dublin irish and that was the first time that I had attended an AGM in Dublin but I have been to a few in London and on each occassion whether it be AGM or EGM I have been asked for my "invitation" and they make note of your holding. As vike says you will be able to gain entry to the meeting without an invitation but they would not let you vote and would be unlikely to welcome any (hostile) questions from you if you could not prove yourself as being a shareholder..... So bluffmaster I would recommend that ypu call or email your broker and ask them to arrange for you to receive your invitation. I too have shares at HSBC and on one occassion they did not arrive in time. Fortunately I also have shares in other nominees that did get it out to me in time.....

It is not "in hand" until we have received it and until we receive it it is a "receivable" hence it forms part of the Trade receivable figure. Which is less than the trade payable figure - simples....

Sorry I do not agree. The figures are there. Trade payables exceed trade receivables by $0.19 million. It is in black and white, deduct that from cash at bank and you get $6.03 million.... and the "in hand amount" as yu put it is not more than $6.23 million. There is no more income due over and above Trade receivables.

Actually it is in the Chairmans Statement; "At the end of the year net current assets were $6.03 million" - that is cash and cash and cash equivalents of $6.23 million + or - the net balance of trade receipts vs trade payable which is - $0.196 m. That is my take on it.

Meaning that of the Gross receivables of $6.94 million $2.70 is owed to AEX.... "including the gross receivable of $6.94 million due from the TPDC for gas revenues, which as operator includes joint venture partners� interests in gas revenues...... with Aminex�s net share of the receivable amounting to $2.70 million." see page 6 of the report. However the NET liquid assets are only $6.04 millions (though I cannot immediately find the page where I read that). That said go to page 32. Trade and other receivables 8.777 million Trade and other payables 8.973 million Hence a $0.19 m net deficit. $6.23 million cash and cash equivalents minus $0.19 defecit on trade balance = $6.04 million net liquid assets However I am not an accountant ;0)

Yes that would also be my guess (and an issue I raised months ago) but the point is that we would still be guessing. And when did this becime apparent? It's time to spill the beans.... Oh and to chime in on another conversation - I too have been here for many years (my first purchase was in 2009) and first purchased shares at 8p. Top sliced at 14 and 15p but bougth plenty on the way down - including at 0.65p at the lowest. So there is no reason to think that TipTop didn't buy shares at 0.9 or so pence. I happen to know that his average is below 2p.

NO Drewky we have $6.23 million of cash and GROSS receivables of $2.7 m. Net liquid assets of $6.02 million. Without additional KN1 income that is NOT enough..... and that assumes that we do not end up owing the TPDC another $2.7 million. Now I am confident that we won't BUT until we put that to rest we cannot make any assumptions.

Drewky they have known how serious KN1 gas pressure ussies have been since July of last year at the latest - that is plenty long enough; we were told that we have been waiting for a Compressor for at least 6 months and yet now they have an alternative plan. teymusy have known that the Compressor stratgey was flawed since they started the new analysis in January of this year and that is already 4 months ago. What happened to the analysis that convinced them to hollow the Compressor Strategy in the first place. Has that been superceded? Was that flawed? Will the TPDC not sign off on that? According to Solo the Compressor option is still there but we will be re-entering KN1 as a first option. So why wasn't this re-entering KN1 first adopted last July or August? Basically why ahve we waited so long BoD; it is time for an explanation... Oh and saying we cant tell you because it might upset the TPDC will not wash - it could simply be a veil to mask inactivity or incompetence on behalf of the BoD. A convenient truth perhaps but how do we call the BoD to account?

I am confident Drewky..... I have long held that KN1 was AEX's achilles heel and questioned whether without KN1 remediation the BoD could reasonably commit to a spud date for NT3 as, without $11 - 12 million cash at bank and KN1 income at previous levels we would not then have the wherewithall to pay for it. It is over 15 months now since shareholders were first made aware of the gas pressure issues at KN1 and have to ask whether it has been this all along that has been the principle factor in NT3 spud date delays. If so, it verging on the criminal. Imagine where we would be had we successfully drilled NT3 last April / May. Yes we would now have no money but would we still be waiting for license extensions? For the Development License? And I suggest that any prospective farm -out or fund rasie would now be far easier and on far better terms as a conseqeunce.... All conjecture but I expect to see the BoD questioned on this. I suggest that, as we have got over two months until the AGM we ought to draft a list of questions that we want answered at the AGM and that way they can prepare their answers and give us full and proper disclosure....