Member Info for JMAX

'Hope' is not a recognised investment strategy.

The more astute posters on here predicted this situation.

Loon,

Please correct me if I was wrong regarding Uganda contingent payments

Uganda

'Contingent annual payments to be paid on upstream revenues from the Uganda Interests (reduced to 28.3334% following exercise by Uganda National Oil Company (UNOC) of its back-in rights – see below) calculated as follows: (i) no payment if the average annual Brent price is less than or equal to US$62 per barrel, (ii) 1.25% (net of tax) if the average annual Brent price is greater than US$62 per barrel or (iii) 2.5% (net of tax) if the average annual Brent price is greater than US$70 per barrel'.

Have you read the terms of this deal...........

TLW get a percentage on less than 29% of production - buttons.

What about the 'expert' who thinks TLW will earn $150M pa from Uganda contingent payments...........

However,

'Contingent annual payments to be paid on upstream revenues from the Uganda Interests (reduced to 28.3334% following exercise by Uganda National Oil Company (UNOC) of its back-in rights – see below) calculated as follows: (i) no payment if the average annual Brent price is less than or equal to US$62 per barrel, (ii) 1.25% (net of tax) if the average annual Brent price is greater than US$62 per barrel or (iii) 2.5% (net of tax) if the average annual Brent price is greater than US$70 per barrel'.

TLW owned 33.3% of the Uganda project.

This pullback was very predictable, PMs were never going to go up in a straight line. Tomorrow could be a tough day but long term this is looking great.

T-man,

You have got it wrong regarding contingent payments.

Fres is fantastic - due to gold and silver making all time highs I sold a few tranches at £26plus - not bad when I bought them sub £6.

YWSML :)

Where are the 'experts', the ones that refused to learn....

Flav,

At one point Kenya was valued at $400M and TLW had the right to incrementally claim back over $1B in expenses once oil production began. But the sold it for $80M near term.

Now you have dreadfully low production, ageing 'assets' and nothing left to sell.

Nonsense.

Bugsy,

Last time TLW still had Uganda, Kenya, Gabon and other assets to sell and let's not forget the depletion of reserves since then.

37p :)

Following insiders is not a great strategy, because if a company gets 'dismantled' they often get looked after.

This isn't going pop - you will get refinanced but at a premium cost. The turnaround will be an increase in the 2P reserves and when the OP heads back to $80plus. But it will be a wait.

The 'rampers'

I sure did get a good laugh at their expense.

This situation was entirely predictable for anyone who followed reality - as TLW themselves warned of the dire consequences of oil at $65.