Member Info for highlandmatt

I don't think we can rely on that. RA didn't seem to think so either. And he is much closer to the discussions and detail of cashflow than we are.

Edgar. Yes, can see sense in that, although may take years to get government approval based on recent experience? I can't remember whether we have each area spun in to its own limited company? Maybe shares in our subsidiaries would be a way forward?

Crusty - you would think that the promise of a share of Ruvuma revenue in 3 years time would be attractive. WEN has cash and revenue, but not much development potential. We have bags of potential. Not hard to see a business case whereby a few million now equates to a few million in revenue every year. The question in my mind is whether ARA would sanction such a deal, or prefer to provide a 3 year bridging loan to AEX. I hope RA is looking at all possible options, both internal and external, involving other producing companies or just financing.

Tie up. Bloody phone keypad.

Crusty - re a possible WEN Tue up. I wonder what options are on the table? Full merger, JV, a share swap. In some ways, the last is the most attractive, being the easiest in terms of government approvals (none?). I suppose it depends on the aim. Do we want a few million cash to tide us over, or a share of a producing business to give an ongoing income? Would we swap 25% of AEX for 25% of WEN? What would that give us? £500k per year? I think cash plus shares would be where we are looking. Our assets and potential are larger.

Fantom. Like disagreeing with the numbers for KN1 so they didn't have to pay the bill? Or refusing to agree the remediation plan so they didn't have to buy the resulting gas? Surely not?!

Correct plan, correct Operator, correct funding. Just a shame about the drill delay. I'm hopeful on some positive news about KN1 receivables, and expecting some sort of corporate M&A activity. Don't forget G&A expenses are much reduced with staff transfers to APT. Buffet said 'the stock market is a device for transferring wealth from the impatient to the patient'.

Brian Hall had 15 million.

Hmm. Jay had 48million. How many did Brian Hall have?

Just over 2m in large round blocks today. Not massive volume or value, but enough to outweigh any buying pressure. Assume 21 trading days a month, make it 20 to allow fluctuation. 40m a month. 100m a month ago. 60m left to sell? Ouch. Done around Christmas? That would be a present. Even better if these could be sold privately not flooding the open market. 50m shares at a penny. Anyone got a spare £500k to approach Majedie and make them an offer?

The $1.97m is already received for costs incurred since APT agreed to take the role of Operator. The FO was $5m + interim costs. $2.2m went on CGT unfortunately, which I doubt JB factored in. There's some cash in the bank, but not much, and no income unless the receivables are resolved.

The management team will have been slimmed down with TUPE to APT. Cash burn reduced, most of the planning activities done while the FO was awaited. I suspect/expect/hope that RA is busying himself with chasing the KN1 receivables and seeking some production income.

Unfortunately I am underwater ATM. First bought in pre NT2 @2p, bought more on the result @4p, been averaging down ever since. Breakeven is 1p. Kicking myself for not selling some at 1.5p, but am convinced this is worth more than that, and didn't reckon on such persistent selling.

Yep. At the moment we're p1ssing against the wind and getting wet trews. However, at some point the wind has to stop, and when it does, buys will outweigh sells and the SP will move up. If I hadn't already loaded up at 0.7-0.45, I'd be buying more. Maybe next month if Majedie are still offloading. If they had 100m on 12Oct, they might be about halfway through by now.

Another million today maybe?

Thanks grsshaw, cperkin. I stand corrected. Still, if the IPO is unavailable, then Attis shares would still seem to give greater exposure at present, although I am considering a direct investment in Helium One on admission. Even if it doubles to £26m on the day, that still might represent a good opportunity. At least you would have a percentage share in of any rise, rather than a percentage of a percentage, if that makes sense? A Helium One share that goes from 10p to 20p would double your money. That same share owned by Scirocco, doubles he value of Scirocco's investment, but not necessarily the value of Scirocco.

Hmm, Attis shareholders will have 15% and Scirocco 2.3% (4.6%? of 50%). So if you want exposure to Helium One, Attis would appear to give more of that than Scirocco? Maybe a safer option than trying to buy Helium One on admission to AIM?

Let's see how the dice fall. There is clearly an appetite from investors for a stake in helium exploration. When Helium1 lists on Aim, existing shareholders such as Scirocco might see the value of their holdings increase substantially.

I should clarify I have been holding for years, and have also been averaging down frequently. Expanded my holding by 50% in Sept, and now have breakeven at 1p. After all that effort and investment, not inclined to sell until the SP reflects the value I see.

GL - because we all bought at 0.7-0.5? I already have as much of my portfolio here as I am comfortable with.