Member Info for highlandmatt

I have net profit as $54m on 90mmcfd gas, so similar. Not sure on your oil revenue figures though? I thought our netbacks were lower than the Brent spot rate?

Could it be they have learned what to expect and how to handle it?

Love it. We all thought Royston would be bigger than Cascadura, and Paul has just confirmed it's bigger than they previously thought. Can't wait for the testing numbers. Early Christmas present.

Thanks Zebra. TXP still massively undervalued in terms of future revenues. Maybe fair at moment, but will trend up over next 1-2years.

As a long term holder of TXP, I can't recall ever seeing the level of detail that PG release, certainly not % gas shows. You get TD, strata encountered, depth of pay on drill completion. On testing, you get flow rates, then following pressure test, you get a resource estimate.

....and probably a fixed price.

Because the market got spooked by the last discovery which wasn't as good as first thought (but may come good yet), and none of it is in production yet (and it will probably be another year before revenues take off). And folk are impatient these days.

Drill bit was still in the reservoir when they stopped..... equals more pay than stated?

It was also supposed to be a 60day drill from memory, with Paul saying results early October. Was he being cautious, or have we had to stop early due to high pressures?

Vike - it's $20m development costs for 25%? AEX has $40m as we farmed out 50%.

No bother Frank. I have no idea about constructing polls on social media, so you are ahead of me there. I only got a Twitter account a few days ago. If it can only do 'yes/no', then my suggestion would be to split the question in to two or more. Q1 - do you support complete sale of Ruvuma. Q2 - partial sale. Q3 - keeping Ruvuma. Possibly a Q4 - should BOD provide workings to show returns on EAG are expected to be higher than various Ruvuma options.

Frank - thanks for taking the time to survey holders. It's a big strategy decision and it's our money. However, I think you need to reword the questions. Asking 'do you agree with A, or do you agree with B?' doesn't work as a yes/no.

There is a lot of sense in that, or there was until ARA agreed to bankroll AEX via another loan. My reading is that ARA do not like the idea of sharing more of Ruvuma than they have to, so that possibility is dead. Any coincidence the chap who promoted that idea has left?

Ha. Typical!

Just written a post that seems to have gone missing. I don't think ARA will allow AEX to sell down Ruvuma, WEN can't afford to develop Nyuni, so it's either Kiliwani South or Scirocco's 25%. Without additional funding, WEN can't afford to buy and develop the full 25%, so if I was them, I'd buy 12.5-15%. That would give a win win, but SCIR may be holding out for a complete sale.

I don't think AEX is looking to sell out of Ruvuma -I don't think ARA would allow it. Which leaves Kiliwani or Nyuni? WEN not rich enough to develop off-shore, but Kiliwani South might be an option. However, if I was WEN, I'd be after Scirocco's 25%. They can't quite just afford $20m plus development costs spread over a couple of years without external finance though. A win win would be to buy 12.5% for $10m. WEN get a portion of a proven resource at affordable cost, SCIR gets a lump sum, enough to pay the development costs to production.

Who says we aren't? A great time for PG or Lonny to be doing the rounds of Moroccan industry touting an opportunity to potentially secure discounted local gas supplies. Be at the mercy of global prices, or get your own supply?

Without an RNS there wasn't much he could say.

Ruvuma - still in discussions with multiple credible interested parties. The more development is done, the more valuable it is.

EAG / Greenan - not there yet. A couple of titbits around improvements, consultancy and technology (another possible JV?).

Presentation now on company website.

Can't be anything material without an RNS. What are the odds of one at 4pm?

Yes, the SP is like we are a one trick pony that has missed. As opposed to a multifaceted company with many opportunities for transformational events.