Member Info for Edgein

VIP,

Yup, 20.41%+ now and full ask getting pummeled.

Regards,

Ed.

Mannan,

Not really, folks didn't sell due to the fact that TRP were getting $19.4m cash, they were going to sell regardless of the news and didn't want to wait for the transformational farmout deals to be approved. It certainly wasn't due to 15% dilution due to the production payment agreements getting cancelled. As that is pretty irrelevant in contrast to the $15m well carry and $4.3m in cash resulting in just a £6m cap at the low. They did allow many to accumulate at a fraction of that value though so they proved some use. Good luck with the scramble to get back in with those traders though. Eyes peeled as there could be an Africorn on the horizon waiting for permission to land any day now. Hopefully JA won't catch you out with an intraday RNS. :)

Regards,

Ed.

Dicko,

Yes indeed exciting times. Company is fast approaching a transitional point as the imminently expected news from Cameroon/Namibia farmout approaches. 129m traded in just the first hour today. So folks are loading up and taking advantage of that 60% discount from the previous announcement. Not only was the presidential approval expected around end of March or early April, but the SA farmout was at document stage back last September. So hopefully close to final document stage on that farmout.

The crossover of the limestone target from the GEO block onto the TRP block could give useful insight for when TRP gets around to drilling in Namibia for sure. But that is a drop in the ocean compared to the Alpha or Gamma targets on the TRP block.

It certainly will be interesting to see TRP's cash position pending the outcomes of all these farmouts.

Regards,

Ed.

Base,

It sure is coming together and it ties in with Mr Asher's recent comments about getting things moving along while they're waiting final approval for the drilling. Many here will also still be hoping that SA farmout completes before drilling as that would be another welcome cash boost to TRP.

Regards,

Ed.

Dicko,

Great find, very interesting list of what these guys do! Great to see TRP getting on with things in preparation for the Presidential approval expected imminently.

Project planning and tracking;

Well engineering and design;

Operations management;

Logistics planning and execution;

Contracting and procurement;

Rig selection and rig contracting;

Provision of operational personnel;

Cost estimation and cost control;

Audits (rigs, supply bases);

HSE management;

Peer review and well examination;

Rig integrity assurance and acceptance;

Management systems and processes;

Performance monitoring, feedback and improvement; and

End of well reporting;

Reporting, Data Analytics and Project Management Software.

They seem to cover just about everything!

Regards,

Ed.

Ihowells,

I think you might have misread my post. I'm aware of the depth of the previous aircore campaign and realise that the current aircore campaign can go to similar depth (basement). As I mentioned previously the aircore holes from the last drilling aren't included in the resource (where they had much thicker widths and higher grades). From what I can gather from the interviews they are allow to drill below the water table, just not mine below it currently. Greg did discuss the water table depth in previous videos.

With the current campaign its not just for infill drilling and going inland, its also drilling the strike extension to the South of the IMA. Thickness of the additional sand that they've uncovered will certainly be of importance to the upcoming resource/reserve upgrade hopefully we'll get some guidance from that as to how much is above or below the water table. From the videos the current videos the goal is initially at least 3 years LOM before they get going. I reckon they'll likely be able to convince he Sri Lankan's the value of dredging below the water table to get max value to them as well as us.

Regards,

Ed.

Scaffman,

You'll probably find these useful:

https://www.youtube.com/watch?v=fP8BZmdiki4

https://www.youtube.com/watch?v=XA06clVAy-E

They explain that the current resource is based on an average hole depth of just 1.6m. They're currently allowed to mine down to the water table that varies in depth from 2-4-6m and I guess deeper too the further they go inland. They're going to eventually seek approval for dredging below the water table but have enough resource to go on currently. We'll have to wait for the company to update on the depth of the new sand and if some of that in the IMA is above the water table. Greg seems fairly confident that they can demonstrate dredging below the water table as environmentally friendly.

The comments from the videos suggest that they can double resource by just dropping the cut-off grade from 5% to the global average of 2% HMS. So it'll be very interesting to see just how much this new sand and the previous aircore holes add to the total resource here.

Regards,

Ed.

Steve,

You just never know, its good for Cameroon, its good for Tower, its good for Prime. President's pen might turn up sooner or later! Bridging loan at 100% conversion premium is there just in case.

Regards,

Ed.

Obnw,

Good timing there chap as you're in before the market realises the significance of the older HMS formation that they've encountered on the initial mining area. The previous resource was only based on the shallow sand on the IMA. Be interesting to hear where this additional sand extends to. Should be plenty of news due in the upcoming Q and I reckon you'll get a chance to slice some then. I came in for the potential for significant upgrade to the resource numbers, that's likely to come after the FID. But in them mean time I'd expect further drilling results, potential for local JV and also possibility of pre-payment offtake all due in the coming months. Exciting times.

Regards,

Ed.

Steve, yeah bridge loan holders setting the expected direction of travel today with a conversion value of 0.055p. Clearly expecting the same sequence of events as the rest of us. Approval, rig and service contract, preliminary field development debt funding. We might even get that pending SA farmout thrown into the mix at some point too (was at draft document stage last September).

Regards,

Ed.

0.03p just showed less resistance than it did yesterday afternoon. Looks like this mornings sellers will already be paying more to get back in. Ask now 0.031p.

Regards,

Ed.

Dax,

We saw yesterday just how quickly the mm's closed the doors on the herd and limited their buying. JA still hopeful of a near term approval and Prime Resources agreeing to a loan at a large conversion premium. No change today to the current June-Dec drilling window either. So its still eye peeled for the next RNS.

Regards,

Ed.

Nice 100% conversion premium on that loan, someone is confident on making a profit on that small bridge loan! Nice to see JA busy on drilling preparations ahead of approval.

Regards,

Ed.

Justone,

Yeah great t hear that the ongoing drilling and step out extensions are going well with the new sand package as well as the shallower one. As Greg said the previous aircore holes weren't included in the current resource, so it will be interesting to see just how significantly they can increase total resource through this and the historic holes. I bought in for just that. No wonder Greg was so confident of the FID by end of Q2. Should be an action packed few months here now right through to mid summer. Already looking forward to the next drilling update!

Regards,

Ed.

It has just smashed 0.03 with very little resistance.

Regards,

Ed.

Sdam,

Yes, fingers crossed we get some of these updates we've been waiting for.

Smkr,

Interesting as it seems like since Hannam have come onboard buying volume has started to pick up so they may already be promoting the company to some of their clients. Once the drilling starts we should see some momentum.

Regards,

Ed.

Adam,

Someone had to pay over for just 100k shares (2.5055p). As Smkr said nothing available, the cupboards are bare at the moment. Where is this being pumped for it to be a P&D? Just looks like supply and demand at the moment, very little supply and growing demand. Cap is tiny compared to the size of the resource (NAV) as they approach the FID.

Regards,

Ed.

Dicko,

Spot on! For years I've used $5/bbl for African 2P so your numbers are fairly bare bones. Yeah very exciting potential not just from the planned Njonji development but also the rest of the block as you suggest. Dissoni South (37.5mmbbls) could turn out to be an extension of the Dissoni field (25mmbbls) on our block, fingers crossed. So the first production for TRP could be a game changer. Prime is willing to stump up $19.4m in the near term to see that happen.

If Njonji turns out to be a goer and at 35mmbbls that 16,000bopd would equate to 9200bopd net and at current Bonny light prices a cash cow. TRP would then have similar and bigger to drill on the rest of the Thali licence. What sets TRP apart though is the plans for early production. Most companies take 3-4 years for offshore development of new fields. TRP already talking about bringing the well to production and planning the next three, so as you say TRP could be unrecognizable within the next 6-12 months. Rig contract info will make for interesting reading.

Regards,

Ed.

IIKIBR,

Off-Topic UKOG

Well it was on the BB-1 result for UKOG rather than the HH discovery, it was about 30km from HH. The rise was off the back of the well result suggesting strong oil shows and then Big Dave suggested that both the BB-1 and HH wells were somehow connected or the same field then the herd came in.

Regards,

Ed.

Xel,

Good find, they're getting there piece by piece. I wonder are all those 1.9ish trades buys as you could currently drive a bus through that 1.8-2.2p current spread. Hopefully they'll close that as volume increases.

Regards,

Ed.