Member Info for CrustyPete

"Things can change, but a leopard can't change its spots. "

Indeed so, Rojo a point proven every time you look in your mirror.

Oh Rojo, I have long since accepted it - irrespective of what happens now - to be stuck in AEX for 15 + years without a material return is a failure and I don't need you to point it out; and that despite a few small victories along the way. I have made money out of AEX (selling 50% of my holding in June last year at between 1.70 - 2.0p) and am still am comfortably above my long term average. So, actually Rojo I don't actually need it to do very much for it to "come good".... I don't have an average above 4.0p but one below 1.0p and that even ignores the occasional profit from top-slicing.

However Rojo, unlike you I am prepared to accept that things can change and that AEX is now closer to earning a sustainable, long term income than it ever has been. It might never reach the previous heights of 2016 but I do believe that there is reason to think that the sp can and will improve from here (albeit not immediately); unlike you and your unrelenting, obtuse, contemptuous cynicism.

Anyway, here's hoping.

Bye for now, I am off for a few days to find some sun.

Both eyes very much open?! In which case Rojo it is a great pity they don't see any further than the end of your nose...

I will take my glasses off Rojo if you lay down your white stick - deal?

Thanks for the advice Rojo but I will do as I see fit thank you - maybe better to see with two "rose-tinted" eyes than with no eyes at all as you consistently continue to do....

Leagreen the decision not to drill NT3 (back to back drills) was absolutely nothing to do with the lack of funds and all to do with what they learned from NT2 drill, their lack of appropriate equipment, notably casings that would allow them to vent gas and thereby help reduce the huge gas pressures without the need of excess quantities of "mud" that would ruin the well as it did at NT2.

Also note bullfrogs posts below.

Thanks for the Patrick Kabwe quote - can you point us to where you found that please, I would like to read the whole article and the context for it.

Impossible maybe but, even so, here goes. More dilution or bubbling around in the 3's?

Both, potentially! In my view any dilution will not be significant and will only occur after a significant sp rise. Will that sp rise take us into the 3's in 12 months time? That might be pushing it as Rukwa is unlikely to be "producing" in 12 months time, though it is a possibility; it depends on what is happening whilst we await the ML award "proper". I do think 3p is more than feasible once we have Rukwa producing though the eventual figure will depend a lot on the details of the Feasibility study and CPR methinks.

Anyway one and all, I wish you all a wonderful Bank Holiday weekend and look forward to seeing you all again next Tuesday - hopefully with more Colorado and, who knows, maybe Rukwa related news.

What dai? Worn out? Maybe not but the costs associated with keeping it going will be considerable and I hope they have a BIG store of spares 😉. In truth I cannot comment knowledgably because I do not know the rig's history. How many has it drilled before and to what depths? These rigs do have a finite lifetime, dai and a 30 well drill programme is considerable!

Well Rojo, all those things are "known" as there have been a number fo significant pipeline construction projects successfully completed in Tanzania, some of which AEX have themselves used and relied upon (Kiliwani - Songo-Songo) and AEX and ARA (through Sultan Al Ghaithi) are confident of a 3 month timescale if undertaken in the "dry" season; so, personally, I am happy with their assessment.

Certainly not likely anytime soon dai, not with a prospective 20 - 30 wells to drill, eh? It will be worn out at the end of that programme - if not before.....

Yes and I know of another regular poster who would share that opinion. However I am not convinced that the rig you are referring to is even "up to the job"..... I also believe that the current owners will be busy using it themselves by the time ARA need it and for some considerable time thereafter.

Purely out of interest Rojo, based on what? simply because it is Tanzania and everything runs in "Tanzania time" or for more valid reasons?

Oh and dai, at the AGM , which admittedly was a long time ago, the only suitable rig in East Africa was in Kenya and that was the one being targeted by M&P - not sure if they eventually ended up with that one tbh.

Just the drill dai? Circa $8m and yes all covered under the "carry".

FWIW, and to Stockcheque's thoughts "I don't see ARA using the same rig as M&P, especially if it's going to delay the drilling that long."

I absolutely do.... and consequently, now that the timescales for M&P's drill programme are known I think we swill see a commitment to using that rig and the consequent timescales fairly soon; but, yet again, contingent upon and therefore timed to coincide with that pipeline initiation announcement.

Morning CP.

Just building the pipeline outside of the rainy season should not take much longer than 3 months and starting in April or May will give then a clear run all the way through to OCT/NOV so, pipeline alone should be complete no later than end of August. I would also anticipate the work programme for NT2 and any gas and, or, condensate capture facilities should be complete over a similar timeframe.

As regards CH1 and drill timelines, bearing in mind similar considerations looks as if a late December drill (historical precedent) looks doable (fingers crossed), though perhaps an April/May kick-off more likely.

I just hope your local info proves to be accurate - at least then the BoD will have something positive to report at the AGM. It would be good to see you there by the way.

Covered on the Scancell Linkedin site post below:

https://www.linkedin.com/in/liam-richardson-a2347127/

Is that a euphemism? I suggest you go to your doctor, or maybe proctologist.... you are evidently not thinking correctly and in need of medical assitance

Well RJ, that'll get the punters stampeding in in ?! 😉

Not 😖

Proven not guilty?! Nonsense - we all know that you have been deliberately implying that you have been on the phone to "Roland" discussing issues specifically relevant to SYN and no-one else. Perhaps the Admin cannot prove that you are guilty but you cannot prove that you are not.

One thing is for sure and beyond proof; you certainly are a total Qunt!