Member Info for G_G_G

Completely agree extrader. I think Western governments need to be able to show they have decreased the proportion of their energy supply coming from coal to near zero before they start preaching to undeveloped parts of the world. There is of course issues when huge economies like China continue to add significant amounts of coal derived energy to their overall production. But even then, if they can show a downward proportional trajectory it's hardly something the west can criticize given our historical contribution to overall greenhouse gas emissions. As for our project, I don't know how much energy in the region is derived from coal but would imagine even with 600Mw from coal it would still be in the order of 25%, so hardly 'coal heavy', but certainly needed for development. Add to this the emissions of modern plants are far lower than the coal fired plants currently in use across Europe, I'd say it's hypocrisy of the highest order if any western government were to merely cast a disappointed glance in our direction. I, like you, don't see external pressure getting in the way of this project going ahead. However African bureaucratic ineptitude, corruption and greed... well they're far more difficult barriers to overcome.

Thanks for signposting my message to nccl btw. Hopefully it will also remind them of the EPC contracts that were meant to be near final form 6 weeks ago (and over 6 months over-due). Based on my experience invested here I'd say we could easily substitute 'African time' with 'Hanno time'.

Will be interesting to see if Canada breaks higher or lower today. Got a feeling we'll follow whatever direction they are heading. Could get a bit bumpy for the next few days. GLA

Exactly extrader. Having said this they could use the money to tide them over until the main project comes good. If indeed the main project goes ahead then in 12 months it either our ownership share doesn't exist, or we have +$50m to play with (and obviously use as collateral for our share of the main project loan). Hard to know what they're thinking as we don't have any idea of how close (or far) we happen to be from clearing the critical tariff barrier. Hopefully we hear something, anything on the tariff soon. GLA

To be honest Chris I think you're clutching at straws on that one. The revenue is bugger all. Not to mention every time anything has been mentioned about the solar project the share price has dropped. And we still have to pay an outrageous coupon to our directors for them to provide a loan to the business, or they get to cash in and take most of the 'green' company for themselves. We also know next to nothing about the project economics, profit, fcf etc. begin generated. As I said, if the delay in sorting company funding (mgt executing warrants / options and not a capital raise) is because Hanno expects the tariff to land any day then fine. But if we're still waiting in a couple of weeks, and there's still no news on the tariff, EPC contract, or funding, then he's a clown and needs to hand the job over to a grown up who can get things done, or at least knows how long it takes to get things done. There's a limit to how long he can keep promising things and not delivering them, and given we're heading toward all-time lows I'd say he passed that limit about 1 month ago. The EPC contract being close to signed was over 6 weeks ago, which was still 6 months over-due. How were they close to being final form if 1 1/2 months later they're still not signed...? The guy needs to step up and start delivering on his words. And in the meantime he needs to begin drumming up excitement about the main project, starting with mgt cashing in some warrants / options. I'm pretty f@cking frustrated and annoyed right now! GLA

Thoughts on stake building or II buying? We've gone from unknown to +80% in a little over a week and we're now pushing another +10% day @16p with volume of 4m before 10am...? If we got this volume at 8p it would it would have been a decent day. But double the value changing hands in 1.5 hours of trading...? Maybe all PIs, and there's certainly a bit more twitter activity, but I don't get the sense we're on any forums just yet. Maybe I'm just hoping for a 25p offer to land to really re-rate us :)

I have a feeling we'll take a breather in the 15-16p range for a few days. Then we'll start to climb toward 20p on the back of ex-divi date confirmation, and expectation of Canadian exploration success being confirmed later this month. As many have said, if we get the f/o on good terms then we're pretty much nailed on for a 3-5p jump, which should take us to 20p and perhaps a little bit beyond. I'm pretty confident the f/o will drop this month based on what we've heard from Majid in recent interviews. Some consolidation has to be expected after the recent run. But if I had to make a bet on whether we break 20p this month, I'd definitely go with it happening.

for Hanno to start delivering on the main project. I figure he has this month to sort funding, EPC contracts, and tariff before his investor base lose whatever confidence they have remaining in him being able to close the deal and we start approaching record lows. Reality is it's been over 6 months since the EPC contracts were meant to be signed. And it's now over 6 weeks since the EPC contracts were near 'final form' as per the last project update. Tariff is now more than 4 months overdue on Hanno's timescales. I can only hope Hanno knows the tariff is about to drop any day, which is why he hasn't sorted the funding issue already. Unless he's certain we're going to get the tariff news in the next week or so he needs to sort our funding concern immediately. He needs to shore up our finances with a small amount of the warrants and options given to mgt and insiders the last time we raised at this level. I'm sure at the time they felt we'd never be here (again), and were quite happy about their little deal, but here we are (again) and now it's time for mgt and insiders to execute those warrants / options for the good of all shareholders.

Let's hope this week is the week we've been waiting for the tariff news. GLA

Serenity, Lib West and Minos High. If we get +3 drills you'd hope they all get targeted. There's potential for a couple of hundred million recoverable. If we hold more than 30% and they establish just +100m recoverable then +30p will happen in a heartbeat. And if 88e type lemmings appear en masse then who knows, we could get to 50p before the drills even start turning :)

Regarding a previous thread, the ability to raise cash via share placing is often included in AGM resolutions. So nothing to read into it other than they have the green light to print a **** ton of shares should the need arise. It could be for an acquisition, or to pay for a bigger Canadian drilling program, part-fund Nth Sea appraisal, or like most instances just a safety net.

Regarding t/o, I do wonder whether someone is/was sniffing around the past couple of weeks when we were still single digits. As many on here will remember me saying over the past month or so, we're an incredible t/o target with a sub £100m mcap. The bod have been really banging the drum lately. Yes there's a lot to talk about, but there's been a lot to talk about for the past month. Just something that has crossed my mind in the past week, and certainly not something to worry about now we're sitting at 15p as a t/o offer would need to be +20p for it to be even entertained. Nice thing to worry about though :)

As for the new shareholders that have recently appeared. Welcome! There's a lot of well researched lth's that you can learn a lot from on this board. I certainly have benefitted from their input over the years. So I'd say it's definitely in your interest to 'seek to understand' their view-point before criticising, judging, or throwing out their pov as I guarantee they know a lot more about this company than you do. Having said this there's always a few d!ckheads that will behave differently, to you I can only ask that you try not to be your usual 'all knowing' d!ckhead self. Or just try not to post on this board, as in my experience there's rarely anything of value your type has to offer. On that note I just shuddered at the thought of the 88e types appearing, but then smiled knowing they will bring a lot of money our way. At least for once they will have invested in a solid company with massive, real potential :) Excited for what next week brings us. GLA

Parge, I think everyone on here would be surprised if Repsol Sinopec aren't the other party. Other than questions over whether the fields are connected, it would make a whole lot of economic sense for them to own more production that would take up excess capacity at the Bleo Holm FPSO. I'm hoping the delays are due to our bod being bloody good deal makers and they've secured better terms for us over the past 6 months. If we can hold onto 30% or more, for 3 or more free carried wells, then they've played a blinder. Someone else will essentially pay for us to see just how much oil is in the wider area, which could be quite substantial. F/o on good terms and we're at 20p. GLA

Nice to see some new names here. Means we're starting to get on people's radars. Just need the 88e crowd to come over now :) It's quite a move we made this week. Most probably PI money but maybe we have a bigger fish in the background? Great thing is we're now closer to fair valuation on Canadian production base alone, which I have as 18p based on peer metrics and recently upgraded production levels. We add the f/o into the mix and we'll be 20p in a flash. As tomhuk has pointed out, there's a hell of a lot of +ve news to be delivered in the next 12 weeks. Looking forward to the first divi payment this month as well. GLA

I see we're still climbing. We spoke of this happening for what seemed like 6 months i.e. when the blue-touch paper is lit it we'll move quickly. We just didn't know what would provide the spark. We've shot up over 50% in 5 trading days to put things in perspective. And the really great news is we're now valued somewhere in the ball-bark of our peers. I'd say given we're now producing over +9500boepd, and we have far less debt than all our peers, we still have another 3-5p before we're valued in line with the market.

If mgt announce 2 x +300bopd drill results at the end of the month in Clearwater (300bopd net i3e) then we'll move by a couple of pennies as it will show the market the f/o acreage is prolific (and we have lots more to drill). At this rate we're guaranteed to be producing 11-12kboepd within 6 months with work-overs and optimisations etc, and have added significantly more oil to the portfolio at the drill bit. We should have proved up our Simonette and Clearwater acreage (including f/o acreage). We will have already completed the f/o in Nth Sea and be drilling (or just about to begin) targeting +100m recoverable (Brent). And we will hopefully have another +10 wells to be spud in Q1 2022.

To be honest I'm struggling to think what fair value will be for all this with oil and gas at current levels, and the immense upside of the Nth Sea. What I do know is most of these things are guaranteed, and on the back of these things alone we should be easily in the 20's with f/o signed and planning being commenced. Our mcap would only be in the order of £150m when we break 20p, which if compared to stocks like 88e really puts things in perspective. Difference being we'll be producing a hell of a lot of oil and gas, throwing off tons of cash, have next to zero debt, and have immense exploration upside that has already been de-risked. Won't at all be surprised if we're +25p when the drills start turning in Nth Sea. And if someone wanted to buy us, again easily now in the 20's. So bloody exciting! GLA

Hi Mace, yes I'm fairly healthily in profit now. I lost somewhere around £80k in the first round fiasco with our Nth Sea assets then Covid. I then made quite a bit of money in other places like HZM and ARS (before the deal fell over) before coming back here and building my stake at an average somewhere in the mid 5's. So I'd say just over £200k in the black and very happy with how things are panning out :)

Agree Benjan. Just for clarity sake, I'm saying there's a chance the project could be shelved, as there's always a possibility this can happen. But the history of milestones and amount of work completed right up to the submission of the tariff envelope would suggest that EDM and Moz are serious. Not to mention their oft stated national goal of 'power to the people' helped by 600Mw of coal fired energy from Tete (with us being the only viable project in the area). Not to mention the political fall-out both domestically and with China should they pull the plug at this juncture. In other words it would constitute a mighty big 'own goal'. But yes, this is Africa and it could happen.

Clearly there's something holding up the process. This could be EDM and Moz pushing for a lower tariff. It could be a delay linked to the transmission line project. It could be a delay in formulating wording on agreements and contracts. Or it could be African bureaucracy doing what they do best i.e. being f@ck ups. All of which would have been -vely impacted by Covid. Whatever the reason(s) it doesn't change the fact this project is nearing completion of its most important milestone to date. And there's a hell of a lot of milestones that have been completed to get us here. Plus our mgt have only ever been +ve in what they've been communicating to the market. So the facts and evidence say to me 'delayed but happening'. Not the project is dead, supported by f'all.

Having said this Hanno needs to step up and make some positive moves for his shareholder base. If indeed mgt are confident the project will get the green-light then he needs to fix the funding concern immediately. Make a real statement of confidence to the market and cash in mgt warrants / options. And do it now. Unfortunately the EPC contracts won't change the tune of the naysayers and doom mongers. It will help the sp, but still not provide a definitive show of confidence to the market the project is going ahead. This lack of confidence though is understandable given Hanno's timings historically have been completely full of ****, so him saying 'we're confident' means nothing to the market. Reality being the EPC contracts were to be completed 6 months ago. The tariff over 4 months ago. We should be near record highs given the stage we are at, but because Hanno has communicated bull**** timings on so many occasions the market doesn't believe him at his word. Fix the funding concern through mgt warrant / option conversion and it definitively says all is fine. Finally deliver the EPC contracts and we'll be at 8p waiting for the tariff to drop. Hanno needs to start behaving like a seasoned CEO, rather than 'someone's son' who was given a shiny toy to play with like Andrew Trahar of Zioc, and Dan Betts of Hum. AIMHO GLA

Agree with first 3 point Tony. For me the big one from here is the f/o. If we secure it on good terms and the drilling program is pencilled for this year then I can see us pushing to 18p (providing our launch pad is 13-14p). Not sure the second two will get us to 15p though. I think minor news points should keep us in a holding pattern around 13p, which I'd be very happy with as it provides a much higher base to attack the high teens and 20p when the bog one lands. As I've said before I simply cannot see us at less than 20p in 12 months. With some drilling success in the Nth Sea (+50m recoverable), and +2000bopd Canada production (oil) I cannot see us being less than 30p.Both of these last point I think are pretty much nailed on. So providing poo and gas remains near this level we've got a long way to run in the coming 6-12 months. And we get paid a divvy for our patience. GLA

hxul, the unsupported opinions stated by YASX is absolute and utter rubbish. As for your thinking...? Sorry there's thinking in your posts? I asked you last to explain your pessimism based on a multitude of things that have happened, and are currently happening. You didn't (or couldn't). Reminder, one of the stated primary goals of the Moz government is 'power to the people'. And part of their published strategy to deliver this goal is 600Mw of coal fired power from Tete. They haven't veered from this at any point. You still haven't answered why they would have allowed this project to continue to this point if they were going to pull the pin? And why would CMEC have continued to invest time and resources if they felt Moz was going to pull the pin? Why did Moz ask for additional studies to be conducted if they were going to pull the pin? And the studies were to connect to the transmission line that is about to have contracts awarded for development. Why would nccl engage consultants for the tariff agreement stage? Why are we even at this late stage where all we have heard is discussions are advancing and they remain positive on the outcome i.e. delayed but moving forward? The list goes on. Between you and Daisy I really don't understand the point of your posts. Give us some evidence to support your opinions. As for the drivel spouted by YASX, I'm glad he lives on the other board. Complete waste of time reading that garbage.

F@ck me! That didn't take long. Looks like 15p is coming sooner rather than later. Divi payment in the next few weeks as well. If they drop the f/o agreement when we're near 15p this could go to 20p in a flash. Perhaps we have some II buying creating this surge...? Hopefully the case as it means we're likely to stick around this level even with PIs selling. We just need that f/o news to drop now so we can sit back and watch the fireworks.

Can’t argue with that cf. Over to Hanno and SF now….

A close above 11p and Canada holding 20c should be seen as a good day. I think the divi announcement and the run-up to the ex-divi date should take us to 12p. Most investors will not only see a 5% yield, but also quite stellar short term value gain potential. Tony has already stated a few things we can definitely expect in June / July. I'd also say the f/o is nailed on for this time period as well based on the language being used in interviews. I can see some good Canadian well results plus the f/o taking us through 15p, especially if the company announces an expedited and expanded Canadian drilling program. Whether we get nearer fair value of 18p who knows. I'd love for i3e to start being valued closer to its short-term potential (i.e. expected value in 6 months). This would take us to 20p and a number where I'll start asking myself whether it's a good time to bank some profit. For now I'm just enjoying knowing that more money is coming soon :) GLA

Sorry CF but there's a few holes in that last post. Firstly, if the market believes there's a funding concern, and mgt have just confirmed that concern, then it's their job to fix it. They need to do it quickly, and they need to do it with a minimum of harm to all shareholders i.e. dilution. This last point is often missed on mgt. Their job is to serve the interests of ALL shareholders. Not the biggest. Not insiders. Not themselves. Hanno and SF are mgt now. So they serve us and they need to do the best thing by us. By letting the clock run down to September to cash in warrants achieves what exactly? They'd still need to cash the warrants later, so why not do it now? Why risk another timing over-run and have the share price nearer 2p because they've done nothing to allay investor concerns, and have instead created even greater share price destruction due to even less confidence in the project going ahead. Solve the funding issue and create confidence rather than concern. As I've said previously it will also mean the share price is in the 5's for when the EPC contract and/or tariff news drops. This creates a springboard for +10p. We could get the EPC contract, and although it's a +ve step, the sp will still be held back due to the funding concern. And PIs sitting on the sidelines will still be worried that we're low on cash and mgt haven't put their hands in their pockets, asking themselves why? At some point SF will need to cash those options / warrants if the project goes ahead. So do it now.

As for the 250k buyer. Well there's also plenty of sellers so unless the share price is going up it doesn't really mean anything.

Hanno needs to sort the funding and EPC contracts. The funding should have been solved yesterday. The EPC should have been solved months ago. Not what anyone wants to hear, but it's the truth. Hanno needs to focus on the main project and stop f@cking about on the solar side of things until he's got these two things done. Solar has taken our sp backwards. It's not what most of us invested in. And it's their future, not necessarily the future they promised to shareholders. I'm quite convinced we'll double from this level if he can fix the funding and EPC contracts. This is him doing his job, acting in the best interests of his shareholders. The current share price and its trajectory I would say agrees with me. AIMHO GLA

Agree CF. Thing is we're not just waiting on the tariff though. There's three things Hanno needs to get sorted soon.

1. Funding. This is entirely in his control and to be honest I'm disappointed we have gotten to this place again. It's not as though this is something that's just jumped up out of thin air. As anyone on this board would know I believe the simplest and best solution is for directors to cash in warrants / options. Shows confidence in the project. Gives us much needed cash. Minimises dilution, which has happened at this level in the past for directors and those close to them to participate in. After all it's why they have so many low priced warrants and options. They can't do it again if indeed we are close to getting over the key tariff barrier.
2. EPC contract. This is partly in Hanno's control. The sad reality is this was originally due last year. Then it was 'nearing completion' over 1 month ago. Simply, Hanno needs to get his **** together when it comes to timings and deliver this piece of news already.
3. Tariff. The tariff I always understood would take longer than Hanno's bull**** timings, but it's now 5 months and we haven't heard so much as a fart from EDM and Moz.

Hanno can address investor confidence and funding in one simple move, and improve confidence even further with a signed EPC contract. If he can do this in the next week or so I'm fine to hear more about the solar side of things for another month whilst we wait for EDM to count the cash in their brown paper bags and agree a tariff that's cheaper than what they'd previously agreed (years ago).