Member Info for CrustyPete

That is twice now that you have brought up my "personal reasons" on the BB Frank. Don't do it again.

And again "They will be safe. If I were you I would put in an immediate request to transfer your ISA to a new provider. The best way to do that is to find your chosen successor and go online, fill in the account opening forms and request that they transfer in your ISA assets. That way they do all the work and you don't have to... The big downside is that to effect that transfer will need your cashing in your existing foldings and converting to cash in order to do the transfer..... so until they arrive at their new destination you will be "out of the market". One of the big consequences of this event is that there will be a lot of Beaufort Securities clients selling Solo (and lots of other things) over coming weeks to move assets elsewhere." Is that clear now Frank?

When I think about NR the "vision" that always comes to mnd is this one.... https://www.google.co.uk/search?biw=1230&bih=567&tbm=isch&sa=1&ei=uZaaWpH_N6mTgAaX6LGIDA&q=crusty+the+clown&oq=crusty+the+clown&gs_l=psy-ab.12..0i10k1l10.12171.18294.0.20206.18.17.0.1.1.0.94.1159.17.17.0....0...1c.1.64.psy-ab..0.18.1156...0j0i67k1j0i10i24k1j0i13k1.0.61PdJKIwA_0

Both I and Cperkins explained this yesterday on the Solo and the AEX BB. so just for you here it is again. "So in short Beaufort was one of the Companies that did analysis on AEX and recommended AEX to it's clients. The same goes for Solo. So if there is a knock on effect it is that particularly for assets in ISA's and Pensions / SIPPs a lot of clients will be looking to move their assets away to a new, more secure custodian and ISA/SIPP provider. This will require them in MOST circumstances to sell their holdings to cash before those assets can be transferred to the new ISA provider..... The investor will be "out of then market" for a few weeks. Hence I would expect to see a good number of AEX and Solo shares being sold as a consequence(and lots of others besides). The big question is will they be bought back again. The good news is that in none of the reference sites that I have been able to find do Beaufort Nominees show up as a significant holder. However in such thin markets how many shares does it take to sink the sp? I would not be surrpised that some of the SELLS from today and yesterday have been triggered by this event as this particular piece of news had been widely expected since last week; and that is on my limited network so probably even earlier elsewhere...

CP? "Hi Willow, already reduced my risk this week." Me too. Considerably.

I do not se that the potential benefits of a good HH flow test will make up for the losses created by yet another dilution. The negligence and intransigence shown by the BoD to any thought for shareholder value has eroded the credibility of the BoD and NR in particluar and have made themselves look like total anateurs. At the AGM I asked what was the point of increasing NAV if the BoD were not able to translate that NAV into the share price. And what is was that they were going to do to achieve it? They stated that this was their fundamental priority and that was what they would be concentrating on for the following year..... So much for that. They either have no idea how to do it or have totally ignored it in preference of yet another dilution....

sorry; here https://www.offshoreenergytoday.com/tag/tanzania/

and this: quite a bit here.... Statoil particularly news to me.

apologies should hav been this http://www.ogj.com/articles/2016/11/drilling-program-commences-offshore-tanzania.html

Good evening mick, by pure coincidence this came up on the Solo BB this evening; it answers a question you raised yesterday https://www.rigzone.com/news/oil_gas/a/98938/bg_group_tanzanias_1st_deepwater_drilling_to_start_shortly. mick I also have the Investec Oil and Gas analysis that includes analysis on both AEX and WRL. Neither are fantastic but WRL probably wins on points. Most notable issues for AEX are lack of cash and inadequate funding for NT3 drill; they speculate that AEX will need to farm out Ntorya to fund NT3.... Oh and uncertainties about KN1. Nothing that isn't already public knowledge but good to see it succinctly assessed. Do you have an email address? I will send you the pdf.

But looking to raise $100m in borrowing and equity - that means "dilution"!!

Your CFD holding should be adjusted accordingly.... typically the CFD company will have bought the shares to cover your long position. If they dont do so you will be making a shed load of money surely?! The price will be going through the roof ;0)

Now that is a good RNS mick, I may now pick some up :-)

I'm not pleased with it at all - "what is good for the goose...." etc. It is not good news for either party as I admitted in my first post. The principle reason for posting it is simply to point out though that whilst you accuse AEX of having weaknesses (and I agree that there are many) so to does WRL. And furthermore your assertion that "WRL is a screaming buy at this price!" is NOT shared by everyone - certain by NOT by the Investors Chronicle but let that not affect your self serving hyperbole eh mick ....?

Courtesy of MABRAD: "Discussion off the falling share price has understandably focused on the lack of news, the price of oil (even though we are not a oil company as yet) and whether there is a large seller in the market ( despite the low volume of share transactions.). Another possibility that I have just become aware of is the matter of getting paid for gas once it is produced. The new evidence about getting paid for gas is as follows. From time to time at least one poster on this BB has argued that Aminex shares are overpriced compared to those of Wentwodth. The tips update page (41) in the current Issue of the investors Chronicle advises shareholders in Wentworth to sell their shares at a loss of 24% since they tipped it on 19 February 2015. There are three reasons given for the IC's sell recommendation. 1. The state oil company and offtske partner TDPC is struggling to make payments leading to a 40% increase in receivables to $9,4m (£7.3m) and forcing a private placing to raise $5.5m earlier this month. 2.'The government's own working capital issues may mean next year's expected step change in power plant gas demand could slip' 3. 'We fear local politics will dominate in 2017. IAminex is relying on payments for gas from TDPC to pay down it debt and contribute to normal very modest running costs. We are fortunately well funded at the moment and can no doubt ride out any payment delays re KiN if Aminex gets treated in the same way. That said, this may be the explanation of why Jay seemed so keen on the potential to make gas sales directly to local customers." Not good for either entity of course but not great if IC are actively recommending a WRL "SELL"....

So chaps over the course of the last two weeks you have been ****ging off AEX at every opportunity whilst singing the praises of WRL.... And what has happened since then? OH LOOK!!! AEX sp up circa 25% and WRL ? well at best, nothing much really... You two ought really to keep your opinions to ypourself, any poor bugger that chose to follow your advice will now be smarting after losing out on some real gains. And to the rest of you WRL Josik and mick2020 sycophants - don't listen to M&J they will lose you money!! ;0)

But all the time that "necessary" dilution is an inevitability who is going to invest now? Certainly not the pi's because they always get shafted through the continuous dilutions that they themselves are not able to participate in. So therefore what is going to get the sp up? All the time it falls it reduces the ability of the BOD to raise money.... A viscious circle that I see no way of breaking out of.....

I admire your confidence Jantand, though have to question where that confidence comes from? There seems very little to justify it at the moment and I am not at all surprised that there are few, if any, buyers at present..... Even if yoo#u are right Jantand how many dilutions are there going to need to be between now and then just to keep paying our BOD? We have no producing assets and no , what on earth are we paying most of these people to do? They could go out and dig for the bloody coal whilst nothing else is happening... What on earth are we actually paying all these people to do in the meantime?!?!?! Fairly soon it will be a case of one of them turning the lights off.....

At these levels? What levels 3.49 or 2.79? The 3.49 offer price hasn't changed materially for months the MM's just widen the bloody spread.... I would be a buyer below 3.0p but the MM's seem to want their cake and eat it - taking the pi55.

I fully recognise and empathise with your sentiments Skinner; unfortunately I don't feel able to sell out now - my losses would be closer to £50k... I got rid of a load at 7 - 8p some while ago (to fund alternative investment) and only wish I had transferred the whole lot at that time. Anyway in for a penny etc... bottom drawer stuff now I need double figures even to get close to breakeven (about 12p to get my money back I believe). But if this keeps the company going for another 6 months and enables the BOD to pull a rabbit out of the hat then I am willing to hold fire.