Member Info for gus0

AGM- Lansdowne Club/Mayfair 25.6 11am. Going up in the world, not sure trainers are allowed here................. earlier than i like considering the distance needed to travel.

There's no market at this level, if there are buyers in the background- it needs to go up to 13p+ to shake a few out. It will move soon enough.

Thursday 25th June.

Kaza, we have enough cash for daily expenses until Spring, we need more cash to cover the next 2 year's licences ( 1million usd per year). We have to show the FI that we have the cash to pay for the licence renewal before the licence renewal date. The board are discussing these terms and conditions with the FI so obviously want a change of terminology-this i find most interesting. Why do the board want the terms of the licence renewal changed ? (having to show proof of funds prior) The only reason is that the board forecast a change before, which would mean no dilutive raise here (lets be honest the top 25 here who own 85% of the company will hurt more than the average Joe when it comes to dilution) and no raise required only means cash coming from somewhere else. Sat at 11p is significantly cheap and we should be at the hugely discounted risked price at 23p, as usual the sleepy market always follows rather than leads. Exciting times ahead.

Why the rush Kaza ? Everything is going as planned , we are holding out for a full payday not half ….

Rl234 - yes we all know that, its going to be an extension of the licence which is already in the bank. However the devil is in the detail- a close look should be taken at this in the final results

" Historically, the Falkland Islands Government has required the Group to show evidence of its ability to pay the licence fees before an extension. The Directors are discussing a further extension of the production and discovery area licences with the Falkland Islands Government including the conditions and commitments attached to the licences."

We have always raised cash around October to pay for the end of year licence renewal, reading between the lines they are wanting to get the renewal agreed before having to show a copy of the bank statement to the FI Government. The board don't need to raise cash until Spring next year for general expenses but do need to raise prior for the renewal ( 1 million usd). I think this statement shows how confident the board are that a deal is forthcoming and possibly no dilutive raise is actually necessary especially if we are getting some return of previous costs.

Blissful, the major shareholders probably won't be interested in 50p. Although AB entered the fray at around 4p if if I recall, Dobson and many others paid top dollar for their stock. Some paid 50p per share to raise the money to find Darwin in the first place and other unfortunate souls back in 2012 parted with up to £1.39 per share, I really don't think 50p is going to be any interest to anyone apart from the minority here (private investors). I am looking at gapping up to the risked Nav price through the summer months (100% upside) and if a good deal is reached, then close to the 50p which is Malcy's initial target (not the end one) Borders and Southern and Rockhopper are the only 2 companies that have commercial discoveries, we won't be ignored for much longer.

Reading between the lines it does seem that offer(s) has/have been made but Dobson and Brimacombe who both cleaned up so nicely from the sale of Rupert Resources are in no hurry.Dobson in particular is widely known for supreme patience which is probably why it took him 12 years post Darwin discovery to sack Obee. Not one of Dobson's best decisions waiting so long to do that! Whilst its great that they do have patience, I have made my feelings known that 14 years post discovery is one of the longest, if not the longest unresolved farmout in the history of oil and gas and beggars can't be choosers sometimes. That said it does seem that it's probably my weakness that patience is waning with the same s**t different day kind of experience and that the company really is on the edge of something big after so long, in regards to POC valuation I would of course love that to be but its dreamland stuff in reality. The Darwin E appraisal needs to happen first followed by West and for these drills to materialise we need a deal/farmout. Risked NAV (heavily discounted) is 23-25p, add a premium on for T/O we could be looking at a cash offer of around 40p/£350 million ish but I don't think this would be accepted because we are carrying that value as an asset on the balance sheet near enough ( costs of discovering Darwin). So basically the shareholders will be getting back what they originally invested and 14 years of waiting would be for nothing. Interesting weeks and months ahead, I see a rapid increase in the stock price here over the summer months.

I think one should be reasonably secure with their investment when you know that just the top 25 holders out of seriously many own over 85 percent here. Yes it could be nominee accounts looking after many but the big picture here is only a few own most . When this rocket ship takes off it really will leave orbit , best stock on AIM without doubt for RVR

A good update and as expected things are seriously going on in the background that cannot be front page news. Enough cash until end of the year as previously advised which gives us those extra months to get the deal(s) over the line.

Nice bit of bear trapping today i see.........

Its a bit weird here this afternoon.......

Good news everywhere in the FI, very very quiet here tho. Surely its us next...........

Bright spot- 25th June is the AGM, will be confirmed in the full results i suspect.

This in my view is going higher despite how the book reads and others post, its been a careful orchestrated squeeze for stock all the way up (hats off to whatever broker(s) has been doing it. Give a bit but take more, working both sides of the book and its been all cloak and daggers. Its sat here with no volume looking a bit lost but the fishing nets are out for stock believe me, it will move on higher if they need to pack up and move on down river which i suspect they will do soon like they did at 9/10p.

In regard to licence renewal, there i have absolute comfort because i know the borders board have a great relationship with the FI Government and the people that count. LTT is right Harry not accepting the first deal but the right deal, however has there ever been an offer? He strongly applied in a podcast/interview that there had been but that was the last we heard of it. I am still happy where we are, these things take a long time and as was told to me / quote "The real farmout has just started" -That was the day after RKH FID. (Makes you wonder about all the hot air prior to this though)

I try and keep my emotions and patience to one side and apply common sense. The world is in desperate need for more barrels, oil price is going to stay high and the focus on energy needs to be relocated from the middle east. There's only 3 players in the FI, RKH which is a go and is going to be developed and ECO/JHL/NAV who are going prospecting for hydrocarbons not yet found. Are half a billion barrels with a capex payback of 12 months at Brent/90USD really going to be overlooked from a greedy industry who have and will drill in the most dangerous places in the world? Has our CEO been hoodwinking us to get the price to 11p and have our major shareholders been seriously increasing their positions out of just hope? AB has always operated from the inside hence why he has done so well, his family and especially late father have been great friends from Dobson for years- he knows what's on the way.

JT, is it not a bit of false weakness tho? This stock has been played like no other, up-down and shake it all about comes to mind. Serious lack of volume here again which is surprising given there's little free float which only means if we have that deal news then Borders is going out to orbit. News soon-final results and possibly Tuesday 26th for it-if not later this week.

Buyer is back, break 13p shortly I hope. Borders is the only player left in the FI...... tick tock.

Dumble

Annual report last year was 19.5 but the year before it was 31.5, there's no fixed date for it.

As for the big rise in anticipation for it, i doubt it but what do i know, i'm an amateur.