Member Info for haggismchaggis1

"A company must publish an annual financial report not later than four months after the end of its financial year."

AFC's financial year end is 31 October, so it's deadline is end of February.

"Acquisition of 200 square kilometres (surface coverage) of 3D seismic data" - DONE
"Drilling of the Chikumbi-1 well" - March to June including analysis and flow test?
"Conclusion of negotiations of the Gas Terms for the Ruvuma PSA." - June to 15 August?

Seems easily doable to me.

There's 10 weeks to the end of March, so I for sure will not be panicking about no rig RNS for several weeks, as spud date is March not Jan or Feb, and could be the end of March not the beginning.

Saudi are not averse to high oil prices, they have said not that long ago that they are OK with oil at $140. Their view on it is that to be in a position to reinvest in new production, the price has to be high, and if the price does not provide the profit to be able to do that reinvestment then oil production will fall longer term and create even higher prices down the line when supply and demand go out of balance.

Saudi would likely also quite happily see hug revenues from $150 oil, considering the massive amounts of money being spent building new cities like NEOM.

Analysts have been predicting $150 oil for a while, mainly due to the lack of investment in oilfields during the pandemic.

Then you have the oil speculators that buy up the oil and push the price up, based on what the analysts have predicted.

$150 oil this year would not surprise me, or many of the top analysts out there.

beardozer,

We know that the big buyer used Protected Trades, which means thy could still have more $40k order(s) being filled in the background, and those order(s) will only be announced once completed by the MM.

As with all big orders made in this way, there would be a pre-agreed price, which the MM has to work the market in order to fill the order. The MM dropping the price hits stop losses and frees up stock to fill the order. So a drop is not necessarily a bad thing, if all it is doing is moving the stock in the background to a big (bullish) buyer.

We'll have to wait and see on that. We could get the update on Greenfield in the next week or two anyway, which would make the drop a mere drop in the ocean in the big scheme of things.

"Combusting ammonia, NH3, does not produce any carbon dioxide and produces 8,120 Btu/lb. The fact that ammonia does not produce any carbon dioxide has been recognized by both engine manufactures and environmentally conscious ship owners. Recently some engine manufacturers have announced they will have ammonia fuel engines developed by 2024 and available for ships by 2025. The Italian shipowner, the Grimaldi Group, recently signed an order for the construction of up to ten ammonia ready pure car and truck carriers."

"Additionally, burning ammonia in engines does not necessarily increase NOx emissions despite the fuel-bound nitrogen. Lower levels of NOx emissions were observed if energy substitution by ammonia did not exceed 60%. This is thought to occur because of the lower combustion temperature of ammonia."

"Shipowners starting to commit to building ammonia ready ships is a good sign, however, with new construction accounting for only two percent of the world's fleet replacement per year it will take decades for the marine industry to wean away from hydrocarbon fuels."

We know that MSAR and bioMSAR combust at lower temperatures. So Green Ammonia could potentially blend in with Biofuel and Glycerine etc to make another zero/low CO2 low NOx variant to bioMSAR. No need for new Ammonia ready ships and thus no decades to transition to low carbon fuel.

As you'd expect, I have sent the suggestion to QFI just in case they haven't yet considered the option.

Reported destination Abu Dhabi, Port AEAUH.

https://www.marinetraffic.com/en/ais/details/ships/shipid:156168/mmsi:255803590/imo:9313943/vessel:MSC%20LEANDRA

https://www.marinetraffic.com/en/ais/details/ports/254?name=ABU%20DHABI&country=United%20Arab%20Emirates

Thanks Jack! Good to know!

"The Nasdaq Composite jumped on Friday, as investors tried to hang on to the January rally and earnings reports continued to trickle in."

"The tech-focused Nasdaq rose 2%, with help from Netflix and Alphabet. The S&P 500 advanced 1.3% and the Dow Jones Industrial Average added 108 points, or 0.5%. Both indexes were poised to snap a three-day losing streak. All of the major averages are still in positive territory for the year."

Nice to see, and could lead to a bounce in stocks like AFC on Monday.

dai,

My guess is it's a limit somewhere, like $40k plus fees, meaning a US buyer.

semaphored,

Are you genuinely that naive about markets?

I can remember numerous times stocks shot up on loads of buying right before a good RNS, and I expect pretty much everyone else can too.

Nobody will do anything about the buyer should a good RNS appear, as it is extremely difficult to prove that the buyer knew something the market didn't, despite it looking very much like that is the case.

"It's only a short 35km spur after all, not like the 1,443 kilometres (897 mi) pipeline signed off today."

Or the 542 kilometres Madimba to Dar es Salaam Gas pipeline built under a Government that was slow and corrupt, still only took 28 months.

That is a rate of 19.36km per month, making a 35km spur take 1.8 months, but it's a much smaller pipe so could in theory be done a bit quicker. And it will be installed under a much faster moving Government that wants the gas flowing at the end of this year.

Good find gaslady!

ARA might need to get a move on with drilling the other wells after CH-1 is done!

300k late reported buy. Sells were at 2.90. No way would a 300k sell then be 2.95p. The 3.1p shown as the ASK is not where the deals were being done, hence the automated reporting is wrong.

"Full year revenue increased by over 530% to £6.91 million"

"Production and revenue has continued to be strong with revenues for the period August to December 2022 (5 months) of £3.08 million"

3.08 / 5 * 12 = £7,392,000

Wressle:

"Daily rate of 1029 bopd achieved during December 2022 following 4-day maintenance shut-down"

"Current rate around 825-850 bopd"

"The microturbines are expected to enable up to a 20% uplift in production" (image of them on site, so not long for those to be operationl).

£7,392,000 / +20% = £8,870,400

Plus Gas sales and any other upside in production.

Up 9% :)

RoJo doesn't have a bucket and spade, he has a JCP digger and he just loves digging himself into holes he can't get out of with his lame efforts at bashing Aminex.

I am thinking the buyer might not be done yet, but there's no way to know with the protected trades they are doing, other than share price movement (price is rising right now). They could have put in more £32k orders, but we will only know once each order(s) is filled.

If it's a USA buyer in the know about the Greenfield deal, they might only appear around US market open time, and any order(s) they put in today unlikely to be filled until the same time as yesterday, late afternoon. And they still have the OTC option as a backup.

Yeah, in the video he says that the 20 million from GIIF will leave the company fully funded for the project.

He also said that if GIIF can't do it then they can easily get the 20 million as debt (rather than dilution) due to the excellent project economics and that it's only a small part of the total project cost.

Rather than MIIF shouldn't it be the GIIF?

https://giif.gov.gh/investments/portfolio/

DoN,

The massive difference now is that Tomco are willing to let someone else take a majority stake of Greenfield off them, meaning they are no longer to operator and only hold a minority stake. That is equivalent to selling the family silver, and should easily get the deal over the line once the finer details are worked out and put into legal agreement (which is what takes the time).

Someone buying £97k of Tomco in 3 trades in just a few hours, all of them after the USA market open, and one on the illiquid OTC market (desperation), certainly points to someone in the know from USA grabbing the stock before news, as that is a lot of money to throw away on a whim.