Member Info for CrustyPete

Those are pretty much the same questions as I posed after the fund raise RNS and are the same as I will be asking at the General meeting on Tuesday. The original raise in August of last year was due to fund this project to completion but now, apparently, we need more capital to finish it off. Originally a $8.2m capital injection was due to result in $15m of income but now we need another $6.4m. So what does that incremental investment produce, because if we now need $14m to produce $15m that is a pretty poor return on Capital.

Now, to add to that, we see that Bluestar is raising $4.5m versus He1's £4.5m and yet seemingly for the same outcome.... so is the difference "cost overruns" and delays from the 6 well drill programme and, if so, why are He1 shouldering the costs, as they should surely be shared?

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I sold out 90% of my holding some months ago at circa 0.024p with a view to recouping (some of) my losses elsewhere before reinvesting later in the year once the gameplan becomes clear - though if that gameplan is "the future is CCS" then you can f**k that for a game of soldiers.... I am not in the game of supporting Roland's and BoD's vanity project and lifestyle.

Thanks for that Nomadme.

To be honest, pretty much what I had concluded the situation to be myself.

A wry, inward smile occasionally.... 😉

A few things actually, initially headed up training in Fixed Income Derivatives but ended up as Director of Sales.....

But even if that were to happen Ssccss, how much of our individual and collective investment would that return us? Evidently that will vary enormously but, I suspect, no-one will get remotely close to their money back.....

And how much did the BoD and our Nomad earn from this car crash? Total incompetence from each of them in my view.

And I have retained a few (million) shares just so I can let them know.....

I was working there in 2001, spent time in NY and a lot of time post 9/11 in the "rebuild" at the New Jersey DR site....- Howard Lutnick went AWOL but, honestly, who could blame him.

Cantor Fitzgerald Wimbledon or elsewhere? I too, spent time (4 years) at Cantor Fitzgerald, indeed when Howard Lutnick was CEO.

And what is your rationale for that BSR? After all, any of the outstanding Farm-Out approvals will trigger the release a serious amount of $'s into TRP coffers.... millions in fact.

Quite right BSR, I have been offered 0.039p for any volume up to 80 million. No price after that.

The problem with this approach ignores the fact that as soon as the "investor" goes to market to sell 1.6 bn shares, or even 0.36 billion the sp falls off a cliff, and therefore in reality investors don't necessarily earn any profit at all....

L you speculate away to your hearts content BG, I on the other hand would prefer top rely upon what I heard from the ARA representative at the AGM....

I wish you all a great weekend.

It seems that no-one can see how rig sharing with M&P is any longer realistic and yet the one thing that Robert Ambrose chose to single out and identify as the most convenient, cost effective option and one which, in conversation, he suggested could still be accessed within the necessary timescales - timescales which in reality may well not be possible to better with alternative, out of country and hence more expensive options.....

Oh and incidentally he also stated tat the first of the M&P drills could be spudded in September.

The M&P drills and well testing will take circa 3 months but they do not need the rig to do well testing - so, dependent on depth, the rigs could used and moved in, what, 6 - 8weeks?

That is not to say that, IF, they can find a more cost effective option "out of country" that they can get on-site, deployed and signed if sooner, than the M&P option, they will not use it but there is no certainty that it is even possible......

SC that has always been my belief and the reason that I have attended AEX AGMs for many years and those of other holding whenever I can.

What is more - the information / mood will not always be Positive either...... replay last years AGM (and many others previously) . Disappointment and frustration ruled and that set the tone for the sp for the next 12 months. To disregard that would be senseless and it is not something you can pick up from the AGM presentation.

Anyway one and all, I have to leave you now as am travelling away for the weekend.

I wish you all a lovely weekend and will catch up all again next week no doubt.

S interesting how the same conversation or statement can be interpreted in different ways. During the Q&A Robert Amrose (ARA NED on the Board) clearly stated that a rig share with M&P was verh much still on the cards and implied that the Tender gave them greater leverage to negotiate a better deal with M&P / Operator. Furthermore in conversation it was stressed that being "in country" meant that sharing would be cheaper and that alternative out of country options would, likely as not, provide no great timing advantage.

Yes CH1 will spud before next July and ready to be tied in in August/September but that is as likely, if not mo9re likely to be done with the M&P rig as with any alternative. It does not assist the TPDC or ARA to spend more money simply to bring forward the drill date unless the Pipeline is ready to receive the gas. So if the M&P rig allows them to keep to that timeline why not use it?

Yes if they want to drill CH1 and rework NT1 before the pipeline is ready that would necessitate bringing the CH1 spud forward but there was no mention of that as a requirement nor as an expectation.

"RoJo is the only one who has been right with nearly all his predictions about this share."

And yet our resident know-it-all and narcissist is just about the only one posting here regularly that is still losing money! 😩

Those of us that keep getting it "wrong", by being open-minded, identifying an opportunity, having averaged down by buying in the "dips" are now well "in the money". I just love being wrong all the time......

Whatever the eventual reality we can be 100% confident that even if required it will not become an issue for another 12 months, by which time much will have changed, including the sp.....

Ssccss, I fear that you will be totally correct. Medway CCS is Roland's vanity project, without that there is zero justification for his being involved - Turkeys don't vote for Christmas. And what else could you reasonably buy into for a measly $14m that would have an immediate return? Oooh I just forgot - I hear that Cambay is up for sale....

To reinforce Bhoddhisatva's post - CFO yesterday stated that our annual "burn rate" is circa $1.5m p.a. and that we currently have $1.5m cash at bank....... though he did not say as of what date. He did say that he thought it would get us though to production and revenue, though could be touch and go.