Member Info for highlandmatt

Helium 1 requires capex, which neither it nor Scirocco can afford. Our BOD doesn't see our focus being in Tanzania due to slow speed of development. Half the new entity will be new money which we are not putting up. We retain a small (and likely decreasing) interest which may be profitable in a few years. This feels like a cheap way of getting Helium 1 to a position where it can attract financing.

Surface facilities....maybe T&T asked us to? Maybe we get a better price? Maybe it gets done quicker? Who knows. Paul has done well for us so far. I trust him to make the right decisions.

Everyone must do what they think is right for their personal circumstances and appetite for risk. We can only go on the information available to us. What is a cheap punt to one may be an unacceptable risk to another. Some may need access to funds in the short term, others may be able to let things run. The forum has folk buying in the hundred pounds and some buying tens of thousands. Some are long term holders, some short term traders, some of us mix both approaches. We all hope to make some money, but if the risks cause too much stress (I once invested the monthly mortgage payment and caught hell from my wife!) then it's not worth it.

Pete - I don't think so, unless Teabiscuit was selling in round batches, same as been happening for weeks?

Teabiscuit - can you advise, please?

Robbie - I don't think Majedie are done. 1.1m sold in round batches so far this morning. If they had 100m on 12 Oct, and sold 2m a day, it would be end of November until they are out.

Just done my usual monthly top up. Mcap is bonkers compared to where I can see this being in 3 years time.

10% when you have that kind of money is significant.

Stating the bleeding obvious, but that is a remarkably large sell this afternoon.

This is just a guess, but what are the chances that The large round blocks being sold (100k, 200k etc) are Majedie? I count about 1.5m today so far, but I'm only looking on my phone. Can anyone see the trades going back 2 weeks to see how many shares have been sold in these blocks? Might give an idea of how many Majedie have left. I am assuming they have been told to off-load the lot for some reason.

There was a general market sell-off yesterday. Most indices were down, and as in March, small E&P companies will be seen as high risk. Totally understandable that some would see the recent rise as a good opportunity to sell out or derisk.

And some persistent selling. Do we think Majedie are still around and still selling?Or is this only folks that bought sub a penny thinking 'looks like this is it, time to move on'?

I suppose there will be many in the same boat as myself. I added 3 tranches totalling an extra 50% to my holding in September at 0.7 - 0.45. There is a big temptation to sell for a 100% gain in the month. Unless and until new buyers outweigh that profit taking, the SP will remain depressed versus potential future value (5p on production?).

Just waiting for some news John. Tired of speculating (and it is less than a week since the last 'transformation' news).

1. Farm Out completion, and confirmation of finances (loans converted to the FO payments including for costs incurred)
2. Drill date (and subsequent EPS - do we need a new GSA for this?)
3. Outstanding receivables for KN1 gas supplied
4. Plans for Killiwani (north and south)
5. Corporate merger previously suggested by our CEO with a producing company.

Anything else I've missed?

Hopefully Mr Ambrose is preparing a drill and it is our Chairman talking to the government.

...but in which direction?

Think the BOD just being discreet about reinstating Divi. Let the dust settle. Bad PR to be doing a clean up and rewarding shareholders.

Thanks Charlie. Could remember the facility being set up, but not whether it had been drawn. The company continues to make good progress.

Cash at bank up from $44m at 30/6 to $55m, although there is now a note that includes $10m overdraft. I can't see a similar note on the H1. We either made $1m or $11m.

Ezhik - no SPT on gas, so we would be assessed on our oil output, which was approx 1600 bold? Unless the condensates count?

SASA wasn't cheap, but it is nicely cash generative, and will have paid back the financing in a relatively short period of time. Once that debt is cleared, free cash flow will be impressive.