Member Info for Drewky

That was my point BG you appeared to be linking two together as a reason for an non issue of a dev licence. If I've misread you I apologise but that is how it read and still reads to me as you appeared to mis-quote me when I was discussing the 25 year development licence.

I am just pointing out through the legal terms of the PSA they have to grant it when criteria is met and Gas lady further supported that with the links to the announcement made by Aminex that pre drilling CH1 has no bearing on whether a licence will be delivered or not. We have been through this one many times and that is why the BoD cleared it up!

Now if that is the companies last communication then we have to take it as read until told otherwise because everything else is pure speculation.

Pete puts forward some good arguments on the interdependencies and why one thing can't be done before another which are difficult to disagree with but we can all see the vicious circle that surrounds the whole thing! EOD repeating... we can only rely on what we are officially told!

A couple of decent buys ought to see a tick up. Seems MMs short staffed again showing 10% spreads both here and NTOG stifling trade. All got hangovers I suppose and probably can expect more of the same on Thursday

Blackgold you have created an argument that did not exist. Gas lady is exactly right in that the company have made a statement on this "Accept it! The original conversation was about NT Development and it had nothing to do with KW until you tried to link it together.

Seeing that you seem to know me Steelitan it seems obvious you are just another re-incarnate. Have fun do your worst! Shame you don't have the bottle to stand by just one posting name. Typically the Cowards Way!!!. Hertstrader +1

Sorry BG I still see no relevance to the KW development licence. We are talking here about a 25 year development licence for ntyora and the fact that the TPDC has already supported it, approved it and forwarded it to the ministry means quite simply that once the criteria for that area is met then this licence will be granted. The KW development licence is therefore a separate issue in my eyes and therefore has no direct legal bearing.

If TPDC were not satisfied, do you really think they would be recommending approval to their government?

GL, I assumed you meant the whole salary based on Mcap. Down as well as up. To me that is a commission only role so that's why I responded as such.

As said in my last post, as Pete has pointed out Mcap or SP pretty much one and the same wouldn't work very welll anyway.

Whichever way it is done people cannot work under extreme pressure so a decent & reasonable index linked salary should be minimum.

However the fat carrot is made up is optional and needs to be there in one form or another. I take and accept your point Pete on the uncontrollable aspect, it must be hugely disappointing to know you have worked your gonads off for success only for an outside influence to rip the rug from under you. So the SP and MCap are effectively out of the window for the future.

I don't think it is justifiable to claim a rise based on the market rate for the role because that is basing it on other more successful companies perhaps where performance has pushed it forward in the past, although they have achieved a fair few good things in the last year, that performance hasn't really yet shone to investors but I still think they may try and back up their justification on the sp rise throughout the year and if so, based on your feeling Pete could backfire on them in a future year if they wish to do it a different way.

Hard to express my feelings on this one but it's a little "Cake & Eat it" sort of feeling. Hope you can understand my thoughts.

detractor join the fray. Welcome Steeltitan I wonder if you will be another that can never back up their own opinion?

Three posts so far and absolutely nothing to say. Spare Richard at an orgy spring to mind but we will see eh! lol

That's perhaps why it hasn't been introduced yet Pete and maybe a good reason why we should give them a nudge at the AGM

Not a believer in commission only type deals GL. imo opinion while they can be motivational they can also demotivate and that's why from what experience I have, think the sales business has a high turnover of staff.

Index Linked Fixed salary which means they can work without worry and concern for their families while having a big motivation carrot to chase is the way for me.

My thoughts are that they will be able to justify their increase on performance of the SP in 2017. You only have to see where it was at the start of year and where it finished 2/1/17 2.19 - 1/118 3.09. Compared to where it went and where it ended up is an extreme disappointment but those who were in at the beginning of the year surely cannot be complaining at the increase. So on that basis they could say they are worth it, however judging buy where we are now and if they don't improve before the end of this year, then it will bite them in the arse come next AGM as there will be no justification.

For me I would like to see an index linked basic salary in place with sp performance related increase and decreases to go with it! To me we should be pushing for that sort of motivational deal for the future!

Blackgold you mis-quote me and should read...

"but it's a clause in the PSA that they will get a licence when all criteria are fulfilled"

TBH I'm not even sure of the point you are making with regards to KW etc! I think my words clearly state that ONCE CRITERIA is met, a licence will be granted.

Of course it is up to the company to meet that criteria but the conversation was in reference to the development licence and not to all the other licences that we hold/held or otherwise in abeyance.

I'm sure somebody will correct me if wrong but a discussion was had, last year, as to whether we had completed our drilling obligations in relation to Ruvuma area and the outcome of which was that we could drill a further drill NT3 (CH1) under the existing licence, but we were not obliged to do so.

In any case as I understand it, (Not a lawyer) the development licence applied for would not be connected to the other licences on a legal basis. Of course the government may look at one and reference its performance against another but still going back to the legality... If and once they have met the criteria for the dev licence then by law it should be granted within sixty days as the PSA quite clearly states. (If honest I find it frustrating and sad that some people refuse to acknowledge that this section exists within the agreement without which there is absolutely no way on earth I would ever put a penny of my money into exploration anywhere in the world)

So assuming the company are not just on a "jolly boys" we ought to be safely confident that they are working hard to meet that criteria and as it is, they have provided a CPR - They have put forward the development plan and I am assuming that via the farm out they intend to prove they have the finance to fulfil the obligations.

Exactly Wryape and I've repeated this many times but it's a clause in the PSA that they will get a licence when all criteria are fulfilled.

As you say they would lose worldwide confidence in all foreign investment if they reneged on this and any future contracts would not be worth the paper they are written on.

Add that to the fact they are running out of gas supply and apart from others fulfilling a little more, we are the only ones in short to medium term capable of supplying that ever expanding need Q1 2019 and they run out according to leafless research.

Confidence, why should we not have confidence in such a scenario? They need it, we've found it, they want it!

Once the cat and mouse is over we should see a steady and continuous rise through drilling production and beyond. I honestly only see Aminex going one way in the near future, imminently, very soon, in the short term, on the morrow etc.

Another big blue day expected by me. What do you think? When the man says jump I ask how high? Will we see .55 or maybe a push towards .6?

Now I know you're ill.

Soft inside wrinkly on the outside. Not crusty yet though

Thanks Pete

From my own board experience Max, The BoD will want to get it over with asap and avoid as many awkward questions as possible. That is the nature of the beast but not having been to an Aminex one before I don't know how relaxed they are about it, perhaps others can advise.

With the amount of questions put forward from these BBs alone, I don't expect it to be a short one but if they cover most of them in their presentation, who knows.

Anything you have to miss will I'm sure be relayed and discussed in detail on here!

Sorry Northern you got it in the neck as result of others bad behaviour. My apologies

Found a later train so will only miss last five minutes unless extra time and penalties.

Mind you if Perky, Pete & Leafless amongst others get me round the pubs after the AGM, my blurry eyes may see little or nothing of it! ;0))