Member Info for dunderhead

Drewky what r you talking about? I hold about 8 or 9 o&g stocks and only really comment when not happy? Why comment when u are happy, what to just say aren't the mgt doing well?! You don't know my portfolio and if you think I'm a paid basher once again take a look at yourself mate? Seriously are you too emotionally attached to the shares you hold? I am only commenting in a negative way because the share price is so crap?! Apologies perhaps they didn't lose the well but I think (operative word there, think) they had to leave well before they wanted or planned? Also I 'think' from memory, aex even stated the reservoir had been corrupted (or words similar to that meaning because of mud ingression) but sure if my memory is wrong, I apologise in advance. Once again all imho and dyor. I'm not wasting any more time on here for a few days but don't take that action because I'm a (paid or otherwise) basher and getting nervous of being found out?! I've just got to get some bloody investment proposals to the bank for a piddly commercial loan and have to do this today (by lunchtime actually which was one reason why I left my desk job and now I'm doing the same crap) lol!! If you read back on my posts on adv I was complimentary of the nt2 'find' at the time however imho they've wasted a lot of time monetising this for share holders and that's why I am critical now, bringing up other issues operationally I was critical of before but that is my right isn't it? Seriously here's hoping the farm out does come to something and we do start to make some return on our investments. We gave all been waiting long enough! As ever all imho and as always dyor!!

Drop me an e mail on adv then mate because I've got to make sure I cross them straight off my watch list as quickly as possible!!

Post below all imho and as always DYOR and don't forget most things posted on free bbs are driven by emotion as well as analysis!!

CP you're making an idiot of yourself now wtgr with these silky personal remarks. AEX mgt obviously don't know how to drill, they lost the last well and (looks like) mucked up the reservoir in the process, during a period of the cheapest rigs and services we have seen in years. Anyway each to their own? You get back to your muddle mgt compliance job mate and hope your overly optimistic posts over time, havent encouraged people to hang on when they may be a little too emotionally close to the share or, when they have been looking at other o&g stocks which are 100% up just on oil price lol?! May I ask what other oilers you own?

I think we're just over analysing it a bit here? Based on share price record over 5 years and 'probably' based on the forced (I read on here some numpty responses about how the new additions to mgt team were 'forced' on Hugh at al and it was ridiculous situation etc etc lol) mgt additions I'd say it is clear he isn't the right man for the job regardless of 'attitude'?! Anyway here we are mid May waiting for news and nay be the much much touted Corrib updates soon. If not that old clocks a ticking?! All imho and dyor of course!!

Well CP PMSL, I certainly hope your other o&g investments have done better than this 'mgt' team of 100's of years experience! Majority of which is in services companies or non Tanzania related and where Tanzania related, only with AEX!! Suggest you change your trousers today though of course. All imho of course!!

CP this is my point. They were obviously obviously wrong in their rig choice, can you not admit that? So all that expertise got it wrong I suppose? Imho, I am inferring the drillers don't have much say there, which is strange for a company that wants to be in charge of its own operated (drilling) destiny? I have never met a driller who wouldn't always have been pressing for a better rig with the gap between slots, especially after the Tullow well but, there you go!! Perhaps 'the experts' didn't have such confidence in their assets as they portray publicly? I dunno just saying like.... All imho of course.

Drewky I agree but they should have been sourcing a better rig earlier hence get funds around August and allocated to that. CP I've just never liked that rig. Don't know why I had this hunch about it and aligned with the fact the aex guys were always talking up the assets and after the Tullow well I'd have just been looking to upgrade. The last well programme I worked on we basically went gold plated and imho as is often the case, the bigger better newer the rig the better the operational efficiency etc. Drewky took the 'exam' today and should have scraped through lol!! I'll copy over question later tonight tomorrow.

Walter wryape or, Ape man, don't know which I prefer?! I'll try and answer some of the questions asked last night. How many wells have I drilled? None (!?) but covered funding finances budgets variance analysis etc I'd say for up to 200, split roughly 90:10 operated : non operated. Significant majority onshore production only about 15-20 days each. About say 50 wells offshore? Question about how to find the costs for better spec rig. I think there was 'probably' a time when n1 was producing etc that aex would have had enough cash to mob different (better) rig earlier (for 1+1 programme with reduced de mob costs if exceeded 2 wells negotiated) so that n2 could have been spudded earlier. The onshore rig market was absolutely dire and they could have sourced a lot lot earlier and taken advantage of this in mkt at the time. Had they not had enough cash I would have placed some because n1 still producing strongly and with incredibly reduced rig plus service costs I think they would have got some support. Simply put I would have found or prioritised the cash somewhere rather than risk using the caroil rig!!!!!! Had they had the commercial nous to do this back in mid 2016 I do not think we would be anywhere near the (now structural) mess we find ourselves in. This is all I'm posting tonight but rest assured I was 'concerned' long long ago about the strategy adhered to and posted as much then, so no clever arse "it's easy in hindsight comments" please as this WAS NOT hindsight for me. I will not post replies tonight but may do so tomorrow as to be quite frank we are all totally polarised hence no one really going to move in their povs (we just argue pointlessly!) and I didn't work on my exam properly last night, as I cant help but reply back to texts and, I'm knackered now!! Another question for agm please, I notice the word 'disussions' were used in rns release. Everyone on here rightly (optimistically) inferred this meant negotiations. .."Can the bod clearly define what is the definition of discussions, was this just conversations or was this negotiations around firm proposals AND which party instigated the duscussions please?". I'll be back (!) soon!! As ever all IMHO and DYOR all. PS share price doing really well isn't it? Mkt obvs very happy with the status of deals that are a coming!

Ape man you don't remind me of anyone, then again I probably wouldn't even notice, even you if you were the only other person in the room.

I am back. If the rig wadnt underpowered why did they have to stop drilling? Simple question. Congrats on all your awards mate honestly, all I was saying was we were talking at different levels. Haven't got a clue about van nut either lol! I dont think Jobop was stating the rig was adequately powered either I think he was saying that a low h p rig was more to do with the power of the rig not the mud motors. But I stand to be corrected on that?!

Mat ffs how can you saybghatvre read my posts. I have been saying that aex mgt have been no good since day one in Tanzania. They did well landing the permit but should have handed in to people or entities who knew better. I criticised the canyon 'acquisition' long b4 zub on-board. I think even the most ardent supporter of aex will agree that is what I have been saying for a long time!! At least quote me properly ffs. Bloody hell I am struggling now just opened the course book and it's got loads of bloody dates and legislation and stuff so I hope I'm not getting questioned on that for tomorra , I will NOT be back.

These two are zubs staff r they not? So f all to do with 'old' aex mgt. Were they not put there by zubs because of the Muppet central running aex? I don't know am seriously questioning that point CP, can you confirm? I would be very very happy for zubs to be really running aex and get rid of the dead wood full stop. I'm not saying that is the case am asking the question as don't have time to look the website.

CP I'll answer you later on your second post. I really havecti get on now as am on train at 06.00.

Sorry guys so that's what you're talking about? Yes petrel industry standard software. I assume aex use this but it is pretty expensive actually so wouldn't surprise me if they don't lol! However to be clear this is my f'ing point. I as a bean counter was questioning the use of this rig for nt2 as I felt it was underspecc'd. You don't need to be a geological whizkid to know that! Anyway hopefully some people will question this at the agm however really I think pi's are on to a weak wicket anyway because if pi's ask the first question given by techies then the bod will probably just blag an answer and the Pi who asked may not know this but it would be quite obvious to the techie who offerred the question to be asked in first place. Joebop r u going? CP not revising just reading the coursework for first time lol. It should be p888 easy though. Here's hoping anyway!!

Joebop I totally agree but I didn't want to go into that. I don't know why but, I've got a feeling it was the mud pumps underpowered first but of course aligned with this the hp of the rig was probably not up to scratch as well and equakkhbtgag coujd gave been the first limiting factor. Does anyone know the HP of this rig and if not perhaps this would be a question for agm? By the way drewky as well as being qualified accountant I have engineering degree as well, so drop the derogatory bean counter comments please, it is childish. CP what seismic software are you talking about that schlumberger purchased? I would imagine most of the drill mwd/lwd was schlumberger proprietary anyway? Can you elucidate please? Another muddle management response I think?

Drewky ffs mate what you are talking about is completely different rig choice? Honestly mate if you didn't know what's side track is then there's no point in us trying to converse. Not being arsey but that's like saying I haven't heard of a van to move stuff. I believe they have talked about workover for kn1 which now knowing they had other gas pay behind the casing (hopefully not drawing from same compartment lol) is the best thing to do prior to compressor solution, so have no idea why this wasn't pursued (much) earlier as would have been known when well was drilled?! 're rig choice again I don't know enough but it sounds like they used a heavier mud (potentially clogging up the reservoir to try and control pressure differentials) however whatever happened it 'looks like' the mud pumps weren't powerful enough (Hydrostatic) to redress the gas pressures (Formation) hence could lose the well. Ie the mud pumps and hence rig were not powerful enough to keep well and rig safe!!! After the first well with measurable formation pressures and because they were drilling similar targets and because they were uncertain of geology I would be asking why they used that rust bucket to drill?! All imho and dyor. LT I'll contact you on adv messages. Will be on radio silence now until Thursday got to start studying!!

Drewky I'm a finance man and I know full well it was a ridiculous choice and made my feelings known at the time. I have sat on review commitees before where my input was limited to finance and tax review but let me be clear, never would a rig of this power have got to this status of discussion, had there been a significantly high gas inflow well previously drilled in the same vicinity in the same geology and to the same depths that had to be abandoned because of danger to personnel! It beggars belief mate! As I've said a 100 times before for a company to lose a well because of casing design would be very very rare. The mud issues were 'rig related' I would hazard a guess. All imho and dyor. Really got to go now so don't take non reply as rudeness or agreement lol!! Got an exam tomorrow and haven't even started the course reading, d'oh!

Rudey wtgr, you ignore me and I'll ignore you. I know who loses out on that arrangement. Thanks mate. Lol.

CP not quite sure what you're saying mate it's all a but 'muddle management' to me but, whilst not a fan of nuog by any stretch, from my perspective, their relative share price pfmce has been much better than Aex recently and what makes this worse, is that I agree they (aex) have delivered some potentially good work here (not very efficiently but..) and this has not been reflected in share price. Probably two reasons for this, ii's and other 3rd party oil companies have no confidence in 'mgt' and the ownership structure is such now, that without something very innovative coming up in recent months it is hardly appealing to ii's? Now I know that I'm only a middle manager (at best probably just a junior) but I always thought that the most important return on share price investment was, the share price and, the bod were the custodians of that!! I've obviously got that all wrong. The share price doesn't matter at all (what matters is quick one off peaks that hopefully a few lucky share holders can take advantage of?) and what is the most important part of share ownership is that the respective mgt deliver on work, even if the market do not value this. How silly of me? Ape man I give up to your superior intellect mate, you've completely made a fool of me and I feel so stupid now. I'm not sure I'll even make it through the night now, I'm so low. Irish wtf is wrong with flipping burgers mate? I'm perfectly happy to do that if it puts a roof over my family's head?! I'm going to really try not to reply now as another 20 minutes of my life wasted lol!!