Member Info for Drewky

pa you may be right on the sp drifting as a result a rights issue but instead of faffing about this could have been done months ago when the sp was at a more reasonable level. Pre Christmas for months it sat around the 3.5 mark but they waited until KW income dried up and now have been forced or chosen to go cap in hand

OG according to my research this morning Onshore pipe line construction is $200k per mile as we are to put in place an 8" hence the $6m I have made an error there as that figure was 30 miles it would actually be less because the requirement was 30 km

The industry measures construction ($/in. -km)

https://sari-energy.org/oldsite/PageFiles/What_We_Do/activities/GEMTP/CEE_NATURAL_GAS_VALUE_CHAIN.pdf

On the second point, as you rightly say, they are valuing the whole at $140m. I was only considering what it means to Aminex in my comments so apologies if that was misleading

Tea Biscuit of course profit is profit and it will be nice to have but the point is that at this level we are being short changed. The concept f the deal is great but the value is totally out of order.

Ch1 dril cost approx $15m 30km pipe line $6m 3Dseismic 78 Sq miles $9.6 - Round that up we get $31 million cost to drill and take gas to market and will have already mapped out for future development of the field.

I do not see how they can justfy a value of $105 million dollars on the works to be done.

On these costs we could have raised a $10 or $15million, enough to drill and install the pipework with seismics being self funded from the results.

So as I said on the serface the deal may seem the right thing to do for obvious reasons imo the BoD are selling us well short on this one. Now I know that there were other offers on the table but I would like to know exactly what they were

How can it be a binding agreement when we still have a vote on the matter. The word binding is put in as a frightener imo. Nothing is binding unless we agree to it.

I'd like to add one more point before I have to go Kempey and that is that because of that industrialisation plan the Zubs have going in Tanzania, they actually need this gas to power it all just as much as the Tanzanians need it. So imo we have a huge bargaining chip in which we can play.

As it is demand outstrips supply in Q1 next year

RTG you make your very first post a very contentious one and let's be honest and blunt. You haven't got a fookin clue what Crusty has done or will do. He will do whatever is right for him

Not much time for posting today but I 100% think the board have done the right thing in farming out. We needed to be in this position to take us where we need to go.

What I don't agree is the high percentage they propose to give over and the low ball value they have put on it. Yes that is right, I said "propose" it still has to be ratified via an egm vote

I also would like to know what the other parties were willing to put on the table because the board made it seem that any other options were derisery and hardly worth considering. I would like to be the judge of that

I've said all along I won't accept a low ball offer and I won't be voting for it at this price. I would like to be in a position of putting a counter proposal to the zubairs at a more realistic level but that will depend on whether enough shareholders are willing to mobilise to do this. At this moment I have no idea the percentage required for us to put one forward but I'll look into it and hopefully get back to it by tomorrow.

OK, so we all know that as small% of something is better than nothing so we don't need to go over that, it is a simple matter of whether you want to push for more? At this point, how much more is not so relevant, but I believe we could go back and get some more if we make the effort because it's my belief the Zubs know full well it's a lowball offer and 40m to them is a drop in the ocean compared to what they will make through the industrialisation program they have going on in Tanzania. Remember, bartering is a part of the middle eastern culture! and my old uncle always said to me "If you don't ask you don't get" Over to you guys n gals

I understand that there were others interested and they were the very people I suggested all along who showed great interest in the past as I've often repeated. I now want to know just how interested these people were? I don't want to know they were interested because I know it, they made it public and it was confirmed to me today. I now want to know what they were prepared to put on the table. We know the Zubair have great influence in Tanzania but the other parties have great influence all over Africa

Well firstly to Mr ha ha Willow. Do you realise that the valuation puts solo value at just 20m? Not so funny that is it when you consider NR valued it at 100. Then you need to consider that you still have half the costs to pay so there wouldn't be much left to line your little pockets would there?

Not good to talk with beer in head Dunder it makes the head think dunderous things :0)). Very busy tomorrow but will try post thoughts next day. Briefly I feel the action is the right one but the cost re percentage is not and I know you will disagree on that one but we all have our opinions on that one. No more tonight sleep well and look forward to another blue day

Did all these new highly opiniated people turn up from? Wowser & not one of them turned up for the facts

Rdajee you are a trader as admitted. Be honest you just want some more a little cheaper.

At this moment I'm assuming we are still producing all be it, spits and spots as and when KW recharges. Debt free? As we appear to have done nothing tangible in recent months again I assume we still are. A thought just occurred to me that will make it more interesting today with the zubs reps sitting around the table today. Shall be watching all closely when questions about the farm out arise.

Over 70 questions been put to the board Tanzania and I don't expect even half to be answered individually. I expect answers will come through by way of the presentation but there is good strong team of holders who are attending who I feel sure will do their best to get the answers being sought. As both myself and CP said earlier what I'm looking for is some confirmation on timelines because I personally have no doubt where we are heading. Comms is a big concern of mine so I'll be pushing for improvement there too. You look after yourself and chillax in the garden with nice glass of something

Willow go play on your own board or with yourself. Just do us a favour and do something useful. You are getting as bad as another who wants to bite the hand of the one you hope to make you rich. I beginning to hope you get shafted and the zubs take you out cheaply just to take those silly ha ha's off you.

Perhaps confidence is low because we have a weeping willow sapping it up nightly

Willow you are probably not wrong but then you expect a dump every day

Not expecting a thing willow & I'll be happy if they can put enough enthusiasm into the meeting to renew everyone's confidence. I'm hoping they will give and indication of timelines because I'm already confident that we will get the development licence and all that goes with it. It is just about quelling the frustration that the waiting brings.

Jeez willow you get dafter by the day

Three up front against a defensive set up?