Member Info for Humanbait

So, Bigears, you decide to post ''incapable of running ANY of his business’s at a profit'' at the very time that we are profitable.

No mention of Gabon and the implementation on time either.

Will you be supportive if they win Tema and DRC or is it back mentioning the ferry debacle?

HB

Thanks MikeGP. As long as we know then that's fine as we can judge against expectations...well with me anyway.

I am pretty happy recently with PF meeting expectations. The biggie, Gabon, was on time, several tech contracts in short order as previously stated.

HB

Yes, fair enough on the Gabon income.

We'll see soon enough on the one months income recognised in this years accounts. I'm hoping it will reflect the above but would I be disappointed if it doesn't... actually a little. However, would I be really bothered....no, as long as he's building it up to this amount in this financial year and for the remaining 14 years!

If it wasn't 1/12th then I'd probably turn off this BB for a few weeks as this would give the naysayers something to crow about even if the bigger picture is positive.

HB

I'm not party to the tech contract details but I'd expect some of the kit to have to jointly (client and us) purchased up front and so we'll be paid the balance, including the profit after completion....in this financial year. So, the £500k would be for some/all of the kit needed. and we'll get this all back and our fee for set-up upon completion.

Regarding Gabon, he stated that the income from the outset is $5.5m per annum. Let's call this £400k per month. Doesn't take long to pay for the start up costs.

I have no more info than you on this but that's my take on it.

HB

In addition to existing recurring Income we'll be getting profitable income from Gabon and these tech contracts (which I believe was the only reason for the raise). That's without DRC, hopefully Tema and more tech contracts.

I believe this now means that we are NOW profitable. Any additional contracts mean we'll be able to accrue cash for any future MSC and tech wins.

AIMO

HB

Yrabs. You just made that up. I have just looked at every post I've made this year and not a single snide remark. The worst one was ' I politely disagree' and so hardly snide!

I have no issue with your balanced quotes, it's just the voluminous repetitive negative posts with no new news. For example, for goodness sake, none of us needs reminding about the ferry debacle, we all remember it, but you seem to want to just restate it again and again and again!

I'd filter you but I do actually value your views when looking at RNS's and the like. I'm a large holder and your posts ensure I too take a balanced view.

Let's leave it there as this is also pointless.

HB

Can I suggest another definition of an idiot is someone who writes the same diatribe over and over and over again.

Nothing wrong with negative posts for good balance but absolutely nothing new in yours.

HB

BBC have 73 offices in 59 countries….good potential and high profile.

HB

All time lows are 1p so we're double that.

PF didn't waffle about Gabon....started on time. That alone makes us profitable....can you see that?

If we implement DRC (we have the signed agreements) then 5p will likely be in our wake. I hope you would agree that the main reason that this got held up was because of the troubles in the east and so if this gets resolved, as seems likely as all parties appear to be signing the peace agreement on 27th June, then we are good to go on this MSC.

As Tema was mentioned in the last update, I'd like to think this is imminent as well. I assume you'll just put this in the jam tomorrow category but I think this is likely. We'll see

Yes, there is a risk but the rewards are huge, especially for those that bought/added in the last year or two.

AIMO

HB

The peace agreement isn't signed until 27th June! Hardly a time to mention security contracts at such a sensitive time.

I think he mentioned Tema and so hoping that he will soon to be opening that jam jar.

Look, Gabon and the existing revenue streams are, I hope, enough to make us profitable and so I can wait. As we accrue cash, we'll have the funds to implement any new wins and so very unlikely for any more raises....again a high priority for PF to avoid these.

I think it unlikely that the SP will slide given that we've just moved into profitability. Especially, as we have a signed long term DRC contract that , if now implemented, should add a minimum of 5p to the SP. Yes, there's still a risk that it wont proceed, but, I'm happy to wait for this as the upside is many multiples of the downside given we are now profitable in any event.

Again AIMO

HB

Thanks MikeGP, great to see obstacles being removed in DRC. Gabon is good recurring revenue MSC but DRC would be a game changer for me. I will certainly be adding significantly in this instance.

Now that the transition is over and we are up and running in Gabon, it would seem good timing for them to be able to focus on DRC implementation.

There are lots of other opportunities going on in the background that are are at various stages of becoming good additional business. E.g. Tema looks really promising and low, if any, capex required I would guess.

If DRC is finally implemented, I will be the first to congratulate Peter Fowler and his team. I know the history inside out and so don't bother spouting on about this. It's now that I care about. He has implemented a decent sized MSC on time as he promised in Gabon. If DRC is implemented now, which with the peace hopefully sorted and with the US involvement is, then we'll be in an excellent position. That will in turn be reflected in the SP which will meet another of PF's objectives.

AIMO

HB

Am I missing something. Peter clearly states in the interview that Gabon is worth at least $15 million per annum. The RNS says $5m.

It's kind of important!

HB

Well I have to politely disagree.

I appreciate there has been a history of missed targets and hence the lacklustre SP. But for once PF announced, what I hope you will agree, is an excellent contract for 4 airports in Gabon. There was 90 day transition announced at the time and this commenced on time. $5m pa will take us into profit and there is good potential in Gabon to up these numbers. Not least the huge expansion of the international airport in due course.

So, this is most definitely not back to square one as we have never been profitable.

Then ,we have two more potential near term wins in DRC and Tema. I accept PF has a vast history of mentioning these sort of things but I am hoping he is good to his RNS that the DRC income is unaffected by the issues in the east of the country and that this is just delayed.

If either of these is confirmed then we are in clover and very profitable....would you agree?

I'll wager you £100 to your favourite charity that this hits 4p by 31st December 2025.

HB

Result went the way we wanted and 90% of. Vote.

Should ensure our contract is started after the remaining 2 months of the implementation period.

Would be good to have an RNS to confirm this.

Sorry Brombarb but I got that link a few times but the recording is not there even when I subscribe. I suspect it's my IT illiteracy but if you could point me to where it is I'd appreciate it.

HB

Did we eventually get a recording of this? I can't locate it on their You Tube site

Buys showing as sells

The big positive is that if the gas pipeline gets built it significantly reduces the number of gas reinjection wells saving us an estimated huge $500 million. So we get diddly squat for the gas but we were happy to do this to make the huge capex savings for reinjection.

Possible significant additional revenues once we've provided the gas in line with our agreement as we can sell the extra at market rate.

HB

Anyone seen the new flight video? It would good to see as the last one was excellent.

I'm just trying to piece together the near term potential de-risking events:

1. Kodiak is ready to go but we need a shortish (I looked on the map, it looks like about 25 miles) pipeline to TAP.

2. This is being held pending promoting Megrez as it's under TAP....which we await the flow test results to confirm the contingent resources

3. Finalising LNG sales agreement

4. US listing

5. Development and regulatory approvals of Megrez 1

6. March AGM. Hopefully this will explain the flow test strategy and timescales for results. Also the overall plan to FEED, FID and ultimately into production.

I'm no expert and so feel free to add to this to help people looking in and existing shareholders understand how low the price is relative to the risks/potential reward.