Member Info for gordon1237

BTW. Very much doubt anyone at the agm would know any more. Anything significant would have to be rns'd.

VF. I have always been on the same side. I have always hoped for the best and usually been disappointed. Why wouldn't I want it to come good? That doesn't mean, for example, not having the right to complain about the jv, which was supposed to take a few months, has now taken nearly 14 months and counting.

You may not have used the word imminent, but given you were expecting it a year ago, it would be irrational not to be disappointed. It is possible to be disappointed but still hopeful at the same time.

VF. What has proved more accurate over the last few years Zag's " constant negativity " or your positivity?

Remember just over a year ago you were saying that Roland probably knew exactly who he wanted as a jv and it would be just waiting for a signature ?

This still has a chance of coming good, but that doesn't mean we don't have a right to be annoyed at how long it is taking and how misleading the companies own timescales have been. All the delays have cost everyone, including you, a lot of money.

Come on Roland give us all a nice Christmas present.

Just one more week if disappointment to add to the last year or two of the same. The only rns that matters now is the one with jv. For a long time I was firmly of the opinion that the jv was dependent on the flow rates but now it has become harder to believe that. That would mean that we were being deliberately mislead, which is something I don't want to believe.

That being the case, the only significance of 77h is to provide some much needed income and avoid a raise. Very much doubt anything will happen quickly enough to avoid it.

Don't care whether it's the original people or not. Whoever it is, it's taking far, far too long.

It's unlikely that even Roland will be around long enough to see CCS through to fruition given that he's now 70.

What I'm impatient for is some news on the bloody jv. Excuses wore thin a long time ago. Get it done.

As long as the remuneration report was passed, that's the main thing. Obviously, richly deserved.

On 30/6/2023 they had A$ 938,589 or £497,452 in cash. The July raising was £775, 000 giving a total of £1,272,452. With the cash burn and one off costs associated with the pump, rigs etc they can have very little left. Unfortunately,unless the jv happens very quickly with an upfront cash injection it's hard to see how a raise won't happen soon.

Buci. Well spotted. They've changed it from the February rns. Then the option date was 13th November and the maturity date the 13th February. Now it's 9th December and 9th March.

Is the first day that the options, up to 853 million shares, from the convertible loan in February, can be exercised.

SS. That's what I was told on 1st September. I posted it at the time. No way of knowing if it is set in stone, like Excalibur.

The first new well was originally scheduled for

H2 2022. Lol. Or should that be COL?

Yes, fair enough, there are loads of imponderables. The point I was making was that for there to be numbers for Capex etc a lot of stuff must have been discussed. I doubt they need to iron out every little detail to agree in principle.

Just sick to the back teeth of being told we're nearly there. Like a bleedin' mirage that constantly recedes into the distance.

I suspect they've already made those plans given the financial details in tge August presentation.

e.g. 40 million Capex in the first year. That must include infrastructure other than just drilling wells.

This is what Briana said on 1st September when I asked about giving up operatorship and 51%

" If we gave up 51% we would lose overall control but we have no intention of doing so. We aim to maintain control of the Cambay PSC."

When I queried the offer in the rns

" Receiving an EOI does not mean accepting it."

Yes, what they intended to do with the cash would effect the sp. Probably go into CCS, unfortunately.

With regard to the offer they had for 51 % plus operatorship for an as yet to be defined number of free carry wells, Briana said they had no intention of ceding control. Guess circumstances could change that.

Quite possible that plan B could be selling the lot.

Wouldn't have to be enormous to see the sp go up.

Agree with all of that Conger. Long enough and then some. Dilution after dilution. The number of shares has doubled under the new regime.

Sausage. Maybe, I really don't care. The time for excuses is long gone.