Member Info for Helpful

Lomax when I said you behaved like a 16 year old, I obviously over-estimated you.

Immediately is now. Imminently is an indeterminate period of relatively short duration.

Does that help?

Anyway, just for you: Soon Rodney, soon.

DYOR

As usual neither of you know anything or understand anything.

Read the CLN RNS and switch your brains on.

xx

The Elephant S1 and the Free Writing Prospectus contains plenty of information on Benin but pretty much nothing on Namibia and nothing at all on the Damara Fold Belt.

The Recon Africa/Damara Fold Belt information only firmed up recently and so could not be included in the Elephant S1 without a substantial rewrite which would cost more time and money. How much the SEC would let Elephant include even if there was a rewrite of the S1 is a moot point.

The Recon/Damara Fold Belt information is new, in the public domain and quite clearly relevant to Elephant Oil's prospects.

Recon is seeking two JVs: one for the Damara Fold Belt and one for the Karoo Zone.

So to all intents and purposes the Namibian licence is in for free. The Recon news means that it is highly to be free upside. The sort of JV Elephant would be looking at on Namibia is $5mil for a 20% farm in: ie., valuing the residual 80% at $20mil.

In my view, if Recon does a good deal on its JV, Elephant might get better terms on its prospective JV.

DYOR

This map shows where the belt is. Elephant's acreage is to the South and South West of Recon's acreage.

https://reconafrica.com/wp-content/uploads/Damara-Fold-Belt-Map.pdf

DYOR

Dukey, old boy, I think that constitutes threatening behaviour.

https://en.wikipedia.org/wiki/Norwich_Pharmacal_order#:~:text=A%20Norwich%20Pharmacal%20order%20is,disclosure%20of%20documents%20or%20information.https://en.wikipedia.org/wiki/Norwich_Pharmacal_order#:~:text=A%20Norwich%20Pharmacal%20order%20is,disclosure%20of%20documents%20or%20information.

Calm down before you land yourself in trouble.

xx

As anyone who can read and has visited the SEC Edgar site can verify, Elephant's S1 has been updated several times.

The current S1 is quite different from the earlier one back in March.

No investor warrants, no secondary sale and GB is locked in.

But hey ho, lets all play stupid games instead of doing research.

The S1 is split into sections and it can be searched quite easily using control F.

Another attempt at market manipulation.

DYOR

Yep.

The Recon news is more recent and not incorporated in the Elephant S1. Recon has put plenty of information in the public domain about the Damara Fold belt.

DYOR

Spec, EOC has two assets at the moment: Benin Block B and a block in Namibia adjacent to Recon Africa's licences.

Namibia:

Recon is looking to do two farm in JVs at the moment; one for the Karoo which trends South East and the other is the Damara Fold belt which trends South West into EOC's license.

The Damara Fold Belt contains what are called Whaleback Anticlines. Those Anticlines trend into EOC's acreage.. Whaleback Anticlines is what they have in Iran, Iraq and Kurdistan.

https://reconafrica.com/wp-content/uploads/ReconAfrica-Corporate-Presentation-Q3-2023.pdf

https://reconafrica.com/wp-content/uploads/ReconAfrica-Announces-an-Independent-3rd-Party-Natural-Gas-Resource-Report-for-the-Damara-Fold-Belt.pdf

The only way to confirm what is there is to drill it.

I think EOC will get a farm in pretty easily: the sort of numbers you would hoping to get would be a 20% farm in for $5mil or so. Recon's farm in would be much larger.

https://finance.yahoo.com/quote/RECO.V/

Benin B

This is an onshore trend of the Dahomey Embayment. So what you would anticipate is that results will be similar to offshore but shallower.

https://www.sec.gov/Archives/edgar/data/1865833/000121390023058857/ea182139-fwp_elephantoil.htm

The sort of enclosures you would expect are the same as offshore but until it is drilled no one knows for certain that oil is there. They have identified the enclosures but the oil could have migrated.

RISC has completed a CPR but this can't be published till after the IPO but the presentation says, "RISC has identified 5 plays over Block B and has reviewed 15 leads on one of the plays."

Because the RISC CPR refers to resources and not reserves it cannot be included in the S1. Once Elephant has listed then it can put the CPR in the public domain.

UOG had an option to farm into Benin a few years back and were really positive on it but dropped it when they decided to pivot to Egypt.

DYOR

Actually Lomax, it looks like you have already lost the title: the competition is stiff as I said.

And against stiff competition. Dukey will snatch the title back about 11.30pm.

Congratulations Lomax you win the prize as the biggest know nothing on here.

Https://twitter.com/JavierBlas/status/1689912817283956736?s=20

DYOR

Lomax, still trying to talk the price down to get a better buy in price? That is the very definition of market manipulation.

Lets hope we don't get a intra day RNS and you miss your buy in price forever.

xx

Lomax, read the information on the FCA link I posted. Nothing to do with me, it is an official FCA publication. Reading stuff can help understanding or not.

Just because someone has an opinion it doesn't protect them from a charge of market manipulation otherwise the defence against the charge in all cases would be, "it is my opinion".

Ask yourself why LSE deleted those posts; I didn't see them.

DYOR

We should be getting an update on the restart of the El Limon mill shortly. Everything seems to still be going ok on the ground for SOMA: they continue to post bullish tweets.

DYOR

Https://twitter.com/RRR_RedRock/status/1689577725760008193?s=20

DYOR

I suggest you trolls read this, it is only a matter of time before the FCA decides it is going to make an example of someone..

https://www.fca.org.uk/markets/market-abuse

DYOR

You lot really do need to get a life and an education.

If you don't understand CLNs why do you constantly prattle on about them?

Variously, I am master manipulator moving the price up and down as I see fit and at the same time an idiot who doesn't know what I am doing or talking about. Now it seems I subservient at the same time.

The CLNs were rolled over after a commercial discussion. If you read and understood the content of the RNS you would realise that if there is no news for 30 days after renewal then the 30 day VWAP will likely be 0.2p or less and so that resets the conversion price at a minimum level of 0.2p. If there is no news then VWAP will likely stay at or below 0.2p: accordingly, there is no upside to converting within the 30 days if we would get the 0.2p reset in any case after the 30 days. Any conversions within the 30 days can only be to protect the current VWAP, in the case of the announced conversions the 0.2p conversion price.

The issue with the VWAP from the CLN holders point of view is volume. If news comes out and we have a high volume day and at higher prices then the CLN conversion price could get set at a higher price than 0.2p.

If you don't understand it, sit down with a pen and paper go through the different scenarios.

For the announced conversions we have given up a maximum of 12 months interest: which on an after tax basis is not huge amount.

Re the deleted posts about placings

RRR has no head room and cannot do a placing without a GM. In the CLN RNS RRR says as much.

Posting on here that a placing is being worked at this price or that price is either inside information if true and if not an attempt at market manipulation. Both are offences, hence why LSE would have grounds to remove them.

DYOR

Interesting question Spec. I would think not; AB is operating at levels above their pay grade....but.. you never know. RRR does see it that we have to box this off first and then deal with Big G afterwards.

DYOR

Yep that £10k wasn't well timed, not enough of a bounce. Overall it was fine though. Greed and stupidity are not good for decision making. Good enough is good enough.

DRC is very distracting but Bell normally does well on legal stuff.. I expect it will be boxed off shortly but as always, it ain't done till it is done.

DYOR