Member Info for Helpful

https://twitter.com/zenithenergyltd/status/1189822087818596352?s=19

https://twitter.com/Justsharesonaim/status/1189570868290162690?s=19

It looks like we have a buyer in town....

Somebody obviously likes what they see..

Looks like it is broke again; it shows Attis as blue, surely that can't be right?

FYI NG now over $2.712. It might seem a small percentage on the gross price but it is a big percentage on the profit. There is a fixed cost element to the NG production which is fairly high. The upward movement really helps us at FW and less so at ZR.

HH showing north of $2.80 in January https://www.cmegroup.com/trading/energy/natural-gas/natural-gas.html

Once the cold weather sets in we should get more of an upward movement.

DYOR

Not required, JMS should declare it's dividend today or tomorrow, Para will stepping up its royalty payments, the Para holding will be worth decent money from here on in as will POW.

In the meantime we await the final piece of the jigsaw on Migori.

Money will be required for Musonoi but that will be project finance to bring it into production next year.

DYOR

Up 31%

Lets see if they have to pull it in the next couple of hours....

Pity he didn't confirm the premium they are getting: I think it is about $6.00 and will rise post December.

Ok Sinbad you have now been filtered for being an insufferable bore.

And as if by magic...…

I might take up this Mystic Meg thing..

https://ir.petroteq.energy/press-releases/detail/335

And there it is....

28-Oct-19
16:30:58
0.17
5,000,000
Buy*
0.16
0.18
8,500
O

Sinbad you comment is not related to what I have said. I know who the intended JV partner is and exactly what they do. The information is confidential and the company cannot put it in the public domain.

The reason for commenting on CW and his position is because you go on about it relentlessly. EGTP has spoken to PA about the matter and EGTP has reported the conversation: what more is there to say?

I have had an email exchange with PA and a couple of long telephone conversations with him. What was discussed concurs with EGTP's report.

Whether you like it or not, whether you agree or not, PA and TB want CW in place and they have reasons for wanting him in place. If you want to get rid of him so bad, what you do is buy sufficient shares such that you can get rid of him. In the meantime, it is all P&W.

If you have something substantive to share then I am all ears. However, I prefer to hear PA's view on the matter directly from PA and not rely on your feelings about the matter.

Thanks

Well I was on the phone to him for about 90 minutes a few weeks back following up on some emails that had been going backwards and forwards.

He has a very good reason for wanting CW in place at the moment; there is simply too much going on for PA and TB to deal with it all. If we end up with this JV or another JV, I expect that there will be change at board level. If we execute a JV, the JV partner will likely want board representation or the right to nominate a director(s).

It may be that it takes a while for the JV to be executed, assuming one is agreed, the timescale might look like this:

1. HoTs 2nd week November
2. JV documentation agreed mid December
3. JV executed late December/early January

Obviously, there are no guarantees that anything will progress and it could fall out of bed at any stage and it might be that we do a JV with another, to date, undisclosed party.

The above timing would give the JV sufficient time to fully sort its operational plan for post March: it is too cold to frack earlier than April. Any fracking will need to be done April to October.

DYOR

https://www.dallasnews.com/news/weather/2019/10/29/nbc-5-forecast-cold-wet-now-first-freeze-later-week/?fbclid=IwAR38HQLVTZRdUvOPRvbr2hXqLWgmUMoiwoSVMtgFM6KWHdgFH1QKDcSBHwI/

Very good for us.

Ah, I had missed that point.

I largely agree with your post. I have had the same conversation with PA.

People were complaining about no forward plan, well now they have it. People should ask themselves, why does a company that has 25,000 acres leases in the Panhandle want to talk about a JV to us? Well apart from the $25mil of carried forward losses that they can access via a JV?

TB being the CEO and having to deal with the dross that CW has to deal with will take him away from the JV activity. I want TB concentrating on a few things, maxing the income out of the existing assets, making them as attractive as possible to third party purchasers and getting this JV home and hosed.

The MOU was for 30 days and wasn't exclusive. They will be starting to run out of time on the MOU and it might need to be extended. No point in extending it unless they have made some progress. Fingers crossed we get Heads of Terms agreed in about two weeks.

DYOR

The water pump is likely sorted...

" Commissioning of the new water injection pump is ongoing. A further announcement will be made once this is in operation and production across the 4 wells is at a stabilised level."

A month since the last update. Based on the above, they are waiting on stabilised production from 03.

If you watched the presentation on 03 there was quite a lot of work to be done but not a month's work. So the question is...… how long do you wait before you decide you can report stabilised production? I would suspect that we will get the update any time now.
DYOR

https://twitter.com/RRR_RedRock/status/1189113625891524608?s=19

I think they were buys. Any follow through and we go up again.