Member Info for Drewky

PS I will admit though in the past their have been some badly worded RNS that have not exactly endeared themselves to the PIs

Again though the TPDC do have control over what can and cannot be said to an extent because I understand they have to sign them off and so they will obviously want removed anything that would directly shown themselves in a bad light and that could put the Bod in a tricky position at times.

Before anyone jumps on the fact the Bod have put themselves there. These contracts and licences are offered and taken up for mutual benefit. If our Bod had not accepted the terms, then perhaps we would not be sitting here on 1.87tcf and a mapped out route to monetisation. The whole thing is a much bigger picture than the glimpses of events that we get to see.

tbh hardnose, the message is clear enough for me and I understand it fully and I'm sure you do too.

It is true though that anything that is ever written could be written in a different or better way but I'm just a B class duffer from secondary school and if I can understand it, then I feel anyone with reasonable intelligence should be able to work things out without having to go into individual details.

For me what risks are there, are included in the RNS and has been in communications for months. It's true the risks are not highlighted as such but Swan Vestas do not highlight that you might burn yourself if you are not careful when striking the match :0))

That is what the DYOR is all about. You see the sales pitch, you look deeper into it to see if you can find a catch and if you are happy with what you find you buy it, if not, you don't and it's as simple as that for me.

In that case you fooked up then! In fact I'm surprised at times that you've never posted strong sell :0))

Everyone pays their money and they make their choice. I made mine and I'm happy to have topped up all the way down including another 120k today. The further it goes down the better the proposition in my book and for new investers it's about now and the future and where it was 18 months ago is not relevant.

So you are questioning me over my defending the board over a specific situation.

"I agree expected does give them a get out, but we surely can't expect them to give specific dates when so much relies on a third party to come up with the goods. That really would be a suicidal risk for the board to take and tbh it surprises me when reading some comments over recent months that some pretty clever people on here seem to expect deadlines in this situation!

What the RNS confirms, is that the expected dates have not changed since they were announced back in July so although I would like more, that is good enough for me because I can't reasonably ask for more. It may well change in the future who knows, but that is the risk. It is common place in business for deadlines not to be met and especially when it is influenced by outside factors and this is another reason why I tend to support the board."

Re read the bit about supposed clever people and then tell us all why we should not make allowance in this situation...

If the granting of the licence is not in our boards control, how can they be blamed if the government cause a delay?

Hi hardnose

I agree expected does give them a get out, but we surely can't expect them to give specific dates when so much relies on a third party to come up with the goods. That really would be a suicidal risk for the board to take and tbh it surprises me when reading some comments over recent months that some pretty clever people on here seem to expect deadlines in this situation!

What the RNS confirms, is that the expected dates have not changed since they were announced back in July so although I would like more, that is good enough for me because I can't reasonably ask for more. It may well change in the future who knows, but that is the risk. It is common place in business for deadlines not to be met and especially when it is influenced by outside factors and this is another reason why I tend to support the board.

I see and accept the fact that they don't have full control and I feel we should all make allowances for that! I understand that while delays happen we could be making a few bob elsewhere and that can be frustrating but that is the risk taken and if not happy, people should take the risk and play elsewhere until they feel the time is right as I feel many have already done.

Bit of a soppy question Joe. Anybody who was in at the spike would wish they had sold at the time. Hind sight is a wonderful thing but where we are now is a wonderful opportunity to those looking for a new investment.

I still expect to make a handsome profit out of this

For me the RNS confirms exactly what we already knew and I see nothing for a fuss to be made of in either direction.

Seems to me things are going along as planned and until those plans break down I see nothing to cry about.

The financials are no worse or better than expected imo
Kiliwani remediation is moving forward
Completion date November as previously informed
Discussions on combining licences ongoing

Negative
The disputed sum has still not been resolved
(I think this is more politics in negotiation than anything and maybe even cashflow as they are paying off wrl - just a guess but its been muted before)

Positive
Farm-in Payments back dated to March this year
3d Seismic plans have been drawn up

Like I said there's nothing there to get knickers in a twist

John if you took as much trouble finding out facts as you do complaining, you will know that November has been the planned date for completion since it was announced at the AGM.

No argument just pointing out a fact!

1. "The Farm-Out is conditional on governmental and shareholder approval. As it is a related party transaction, Eclipse Investments LLC, an affiliate of Zubair, will be UNABLE to vote its interest in the Company."

2. The transaction is also subject to the grant of an extension to the Mtwara Licence, currently awaiting approval AS SUSPECTED

3. The Farm-Out is expected to be completed by 30 November 2018 COMPETION DATE UNCHANGED

Ok I see you've now included 2018 I'll look it over when on pc so I can view it properly. I will assume you will want to highlight any change and investment withdrawal that were caused by the law change

Because old son your argument was based on showing investment shrinking as a result of the law changes. You then compared time scales from before the law changes were made and that's why they were irrelevant or does that not sink in? As for why I don't include them. Why would I need to when no reason has been shown to do so when all the news has shown increased rather than decrease investment? The only decreases I have seen are in the views and opinions I have yet to see anything that backs it up despite me asking for it? Where is it? Perhaps you want to see it in because it's suits your angle and not because of substance. Even Acacia the very reason for change showed only last week they are investing more in the country but if you can supply some genuine evidence I'll include it!

At least you had the bottle to admit you screwed up. I can admire that!

Well I fear for the SP even if we do get the figures because without anything else the good folk on here will have a field day trying to take it lower!

The figures in themselves, should mean nothing to anyone because we already know there has been little, if no income at all throughout the year! Taken in their own right unless there is unexpected upside (fat chance) should not effect things too greatly.

As you say we don't hold the upper hand at the moment but the potential upside as you call it, remains an extremely strong possibility. Tanzania need the gas or they choke their own program but it's hard ball all around at the moment. (That's business) Meanwhile, we just have to wait and for those that can't, then they should just sell and move on because otherwise by moaning and making a big issue they'll only be peeing on their own chips which for some strange reason is the thing that gets support around here!

I don't agree with him being inept as I don't think he has the control over things right now that he needs, but like you I prefer silence rather than an RNS that carries no substance.

Hex like I said the last twice you brought your maps to the table they compare 2015 to 2017, they are out of date and they come before the governmental law changes were made. Effectively they are worth Jack Shyte to the discussion.

Come back with the comparison from 2017 to 2018 and you might have an argument if the figures support you! Until then you have nothing.

Since when has the sp born any relationship to facts. If this one were based on what we have here some of you guys would leave me for dead in the ramping stakes. The only fact here is that right now, you guys think you can squeeze it a little bit more before you become rampers once more! A bear market only lasts for so long and your term has about done because you've been lucky enough to get it well overdone here!

An RNS in the morning might kill you dead but then again it may not, however sooner or later it will turn and we won't see your ilk for a while!

Would you like it on the list? You can have if you want it. It's no skin off my nose. It's such a rarity to find anything that might be deemed even a possible negative. I bring it to you and you still complain. It just shows the level you guys are at!

Any other negatives here, are just opinions and nothing more because all they are is attacks on management or anybody with a positive word to say. If they had any substance or support they would bring the evidence! Have fun with the #Fridaybash guys we all know it's coming

Yes, finding commercial oil would be nice cp. Would send a few of these snipers scurrying for the debit cards that's for sure :0))

Have you noticed what day it is again? #Thursdaywarmup

Excuse me Hex but was it not I that brought that article to the BB? Go on fella have a dig but join the queue first

Well Hex that's nothing new. I'm always wrong to hear some talk!