AGM Questions - No Discussion23 May 2018 18:46
Questions To Date as written...
Leafless
1. When do you expect to re-perforate Kiliwani North and how soon after this should we expect increased revenues assuming this remediation is successful
2. We know Chicken 1 is scheduled for H2 2018. When should we expect NT1, NT2 and KFC1 to be hooked up to Madimba?
3. Will you confirm that we are looking for oil or condensate in the deeper target at KFC1? Roughly what is the COS associated with this?
4. In what timeframe do you expect to drill Kiliwani South and how soon could this be producing?
5. Please can you explain more regarding the interdependencies of the main deliverables that are planned in the next 12 to 24 months
6. When do you currently expect to do the 3D seismic over Nyuni?
7. How soon can we expect the first drilling activity in Nyuni?
Tarry
Given the performance of the share price, decline in pressures at KN-1 and lack of a plan to deal with these and increased/increasing overheads how can the BOD POSSIBLY justify awarding themselves a pay rise?
Tanzania
If we reach the AGM with no news regarding the 'Transaction' it will be at least 4 months since negotiations started. If talks fail and with just one drill in six years, when and how is the BOD going to provide value to the very many, patient Long Term Holders ?
Drewky
1 Why have you waited so long knowing that lack of income from KW would force a fund raise of some kind when we initially had the funds as you stated to drill NT3.
2. What is the brief of Camarco and the cost of their services? (Are they utilised to advise on PR matters or are they only employed on an as and when basis?)
3. What value do the Bod put on communication with its PI shareholders?
4. How much control do you have over events and to what extent are your hands tied
Gas Lady
What is the contractor selection status with regards to the planned Nyuni 3D seismic programme?
Northern
1. More and better quality communications to shareholders.
2. A rights issue for Long suffering shareholders to share in the growing estimated resource.
3. Quicker processing of issues including the basic one of getting the drilling going again- eg why on earth do we have to wait for a tender for the rig until the end of H1 this year when they have known they are going to drill C1(NT-3) for an age - to get some more revenue in and to grow the company.
4. A proper diversification strategy. If they have a finance partner why not use them and get the company growing rather than a stated intention then no action(this latter point is start ing to sound like a bit of a theme with Aminex!).
CPerkin
I also wonder where SOLO's 25% of the asset up for farm in comes into play and how this fits into the Aminex/Zubair strategy.