Member Info for Helpful

There is no local road for them to misuse. The JV will need to put a purpose built road in place: a bit difficult to see how the locals can complain about that. Further the Govt of PNG wants these assets developed because it wants the royalties, taxes and license fees along with employment doing the trucking and shipping.

The nicked extraction business is an existing one in Australia and meets current environmental requirements, the only thing that would change is where the feedstock comes from.

DYOR

I have no doubt that patience will be fully rewarded.

DYOR

So interview week of 27th; it must mean an update on the Peaker plant. I expect confirmation that they have committed to it, funded long lead items and have a funding structure in place.

The big long lead item is a grid connection.

DYOR

They also need to learn to read an RNS as well.

The RNS reads okay to me. The results on the wells could be a bit better but we are doing okay. The report confirms that Colter is not a write off and work is continuing to enhance value.

DYOR

Funny guy.

Your confidence is misplaced.

If you check out the Kenyan Mining Act 2016 you will see that there is a process to be followed: the MRB has recommended that the licences are issued to RRR. The law dictates that we should be issued the licences: we are just waiting on the bureaucracy issuing the letter inviting us to pay the requisite fees.

DYOR

Just waiting...… When the Migori license gets issued is in the control of the Kenyans. All RRR can do is meet all the requirements for the license to be issued.

Everything else looks to be going well but Migori is the one that matters in the short term.

DYOR

Heading to 0.5p and a heavily discounted placing. They will need some cash to keep the lights on and to pay for any DD on another transaction.

So someone sold £25k in one chunk and no SP movement. Looks like we have a buyer in town. Probably a late reported trade incoming.

Excellent timing from someone (not me),

https://twitter.com/Oilman_Jim/status/1216408895889051648?s=19

https://twitter.com/Oilman_Jim/status/1216408895889051648?s=19

I am inside. They are on with it. There is a lot to be done. April would good timing.

Boob, because he wasn't a director or employee. Same with me. I knew what was happening but could participate.

Doubleup,

you were on filter because you come out with uneducated, uninformed nonsense all the time and just want to attract attention. I have taken you off filter so I can respond to your latest nonsense.

You have to differentiate between a fact and your impression/understanding/suspicion. There is also no requirement on anyone to agree with or be bound by your impression/understanding/suspicion.

1. If ADL converts to a participation and ends up with say 17% of say 150 bopd at $65 a barrel then it will be generating something like $1,600 per day before taxes and profits shares etc so maybe $1,200 net. So $36k pm. Fine it doesn't shoot the lights out but it is not nothing.
2. The idea was always that this was the start of a relationship with CAV. On the basis of the above, they would be on 83% of 150 bopd at no initial capital cost to themselves so why would they not be happy? Once ADL participates then that is a different matter.
3. There is a big difference between raising capital for running costs and capex for new assets/new drill. 1 above covers the running costs and I see no issues with raising capital for a new drill on Selo.
4. The reasons CAV did the deal has been rehearsed numerous times. They want or wanted a partner who they could develop O&G assets with.
5. I think that you will be very surprised in the next two weeks. You may not like it but I will.

Anyway you are going back on filter. No point in having a battle of wits with an unarmed man.

DYOR

IMHO ie., you have an insight into CAV's corporate mind and decision-making process.

The new drill was always in the future and not part of the current arrangement with CAV. The announcements have made clear that Selo needs to be drilled and is a separate matter. It would only come back on us to part fund the drill if we decided to convert our outstanding liability from the Betun Selo KSO into a participation. As long as the production is in excess of 70bopd less whatever decline rate was built into the model then we have cashflow. Plus the cashflow will be better than otherwise modelled because of the rise in the oil price.

All still to play for here.

DYOR

The board wasn't permitted by the NOMAD to participate in the fund raise. If you read the RNS you will see that it states that they will participate on the same terms at a later date. That later date won't be until they are out of any closed period and all price sensitive information is in the public domain. That means until Mambare is sorted and the way forward on AES is in the public domain that they won't be able to subscribe. I was one of the CLN holders and have over 3% of RGM.

DYOR

Numpties trying to deramp a share that is suspended. FFS!

Whichever way it is dealt with it should be good news.

https://mobile.reuters.com/article/amp/idUSL4N29C0FV?__twitter_impression=true

Big week. I expect everything will be resolved to everyone's satisfaction.

Wrong paste.....

JMS has a RNS out re a completed feasibility study to go to 4.5 mil tonnes pa.