Member Info for johnpwh

Thanks. So relaxing, watching that de-stresses after last nights match. Watched a seagull for a minute or too. Think I'll leave it open on one of my laptops windows!

Nothing wrong with being a pedant! I went to a grammar school (yep, I'm ancient!). Trouble is I've got to make sure I don't make any posts containing typos now!

How arrogant can Trump get? OPEC (plus certain non OPEC countries) meet, have properly conducted discussions and reach an agreement on production which they share with world markets. So along comes Trump a couple of days later and says he's not happy so you will ignore what you agreed and do what I demand. And then tweets about it (conducting a Presidency by social media has destroyed the dignity of the office), including a blatant grammatical error 'to' rather than 'too' to prove how thick and stupid he is. He caused the supposed shortage by ripping up the agreement on Iran and imposing unilateral sanctions while making it clear to his supposed allies that he will not tolerate any other country not imposing the same sanctions. What price the so called special relationship between the UK and the US now? (which was always one sided, witness the virtual destruction of BP)

Thanks for the AGM report. I was concerned about the possibility of a placing when I read the RNS which implied that they wanted to accelerate Salinbas exploration perhaps more quickly than we were previously expecting. However the expectation that we can do that out of free cashflow is promising - although I would hope that any further slippage in POG wont affect that aim. The Chairman buying yet more shares is heartening, after all he must be party to a much clearer picture than we have.

I wont unfortunately be attending the AGM, partially as I hold my shares in a Nominee account with a large well known bank who are near to useless. There is no point me trying to get the necessary documentation from them, it just wouldn't happen. I was impressed with Arianas response, however, when I contacted them to see if I could attend anyway - Dr Sener forwarded my Email to computershare to arrange. I could have attended as a (non voting) guest apparently but (unfortunately) I have now, sadly, a funeral to attend. So I will be a no show. I plan to convert my holdings to certificated form, this is possible as they are (rightly or wrongly) held outside a tax efficient wrapper. It is worth noting that, for a currently non dividend paying share, holding in a non ISA account has a potential advantage - while losing protection from Capital Gains (although enjoying a tax free PA of currently £11700), shares in a non ISA account will also potentially generate usable Capital Losses (which they wont in an ISA)...….not that I'm suggesting AAU shareholders will need that!

At the moment I have no shares in Fox, but held quite a few until recently. It seems a 'jam tomorrow' type of company (though I made that mistake with Mariana Resources when I got sick of serial RNSs saying their latest prospect was 'company changing' only to abandon them at a loss, Then they got it right after I sold....). When you keep posting RNSs of really tiny orders (for a quoted company) I get worried. That, the constant share dilution, the bid offer spread and the snobbery which I think probably persists that marble must be Italian put me off. I have no axe to grind, and Chris Gilbert seems a genuinely nice bloke. I would like to be convinced I am wrong and that I should put a few quid in. Anyone got any thoughts to persuade me?

Would it be too much to ask that if people don't like other posters they simply ignore them? What purpose does it serve to spend half the morning ****ging each other off? Just use the board to discuss the company, its news, its prospects. Please?

Thanks adoubleuk,I appreciate your comprehensive reply and sure that others will also benefit.

Thanks SIPP & JayKay for the answers

Sorry to but in but I think 75 holes was mentioned as a 'full' drilling program that would require additional funding to complete short term. Instead a steadier program was suggested out of Kiziltepe revenue. I don't recognise the figure of £300k.

Thanks, though having to he a letter off my Nominees may be problematic....I currently am with Barclays - I don't want to use bad language on this board, but suffice to say that the chance of getting any response out of that lot is nigh on nil! I will speak to Yellow Jersey and see what they advise.

Hi Paul, yes that's also what I understood. May mean a slower exploitation of Salinbas but they seem to have plenty to occupy themselves with Tasvan in a couple of years. Due to the limited funds available they should do very targeted drilling rather than a 'full' campaign. Do you know if you have to Register for the AGM or just turn up - I hadn't considered going but may now.

As a newcomer to the board and a relatively new shareholder, wonder if anyone could help with a few basic questions. So here goes: Who owns the EPS? I assume Hurricane is footing the bill for the improvements in Dubai to the Aoka Mizu but does it remain the property of Bluewater? Assuming the latter how long do we have the use of it given the millions invested? When is further drilling due on Halifax, both to evaluate DST and to provide conclusive proof that Lancaster/ Halifax is a single accumulation? When will Warwick be drilled, similarly its continuity with Lincoln hopefully established? And is Whirlwind likely to be held 'in reserve' until L/H, L/W are better understood? Assuming the EPS is successful, is Lancaster likely to be sold off (probably with Halifax) per Dr Ts 'monetisation' promise with Hurricane Energy continuing as an entity to develop the other discoveries? Is the EPS likely to be transferred then to, say, Lincoln? Any opinion/ knowledge would be welcome, including predictions of a timescale to de-risk all current property. Thanks

Thanks for that. I think by clarifying the past the discussion has been very valuable for new posters/ readers such as myself. As they say, lets move on.

I wasn't up to speed with the various conversations that took place at the turn of the year, and admit I am not entirely comfortable with them now I have read the relevant RNS's. However at the same time I would like to express my thanks to VanVan as he clearly went the extra mile at his own expense to try to get assurances on the situation. The RNS of 1/2/18 does seem to be carefully worded - with (compared to earlier text in the notice) an omission of 'bonus' shares in the statement about further issues of 'option' shares. I mentioned in an earlier post that the only time the America sqaure meeting got in the least bit heated was when discussing future (discounted) fundraising - I remember the Chairman taking quite a defensive view that, as shareholders too, the BOD had suffered from the resultant fall in the share price. While that is true I was left thinking at the time 'yes but you took part in the dicounted placing, we didn't'. At the end of the day you pays your money and takes your choice. If as a shareholder you dont like it then you always have the decision at your disposal to sell out and move on (although the B/O spread is rather a stinger!). Realistically what is the difference in this situation and every other single quoted company - even large more heavily regulated Companies give rise to the Carillion situation and even more recently Sorrell treatng WPP as his personal fiefdom? Thanks to VanVan the BOD are aware that there is disquiet, and hopefully this will temper any future decisions. Time will tell. In the meantime this is a potentially a very exciting company...I reiterate, you takes your choice......

Just chipping in my comment. I see both sides here, I agree that the Directors should not be given carte blanche to walk away with whatever they please. But I don't see that is the case here, and there has been considerable buying by the Chairman recently in the market. Its pretty easy (if potentially expensive) to stick some capital into a company then sit in a comfy chair with a cup of PG and a laptop hoping that the returns flood in with no real effort. These Directors are not prima donnas at the peak of a multi layered company at arms length from reality. They are the ones building this company, and dealing day to day with running the operations while doing the PR rounds to boot. Would it be wise not to give them reasonable incentive to carry on the apparently very successful job they are doing?

An observation re Fuel Cell vehicles. There is a company called Ballard quoted on the Nasdaq which provides Fuel Cells buses in (I think) China and London. I ended up with some though a shareholding in an AIM company called Protonex (long story). Anyway despite announcing a couple of days ago a continued tie up with Audi, which will continue right until they produce a small series run of FC vehicles in 2020 (ish), Ballard shares continue their poor performance, It seems the market does not support FC vehicles (while putting a crazy valuation on the failing Tesla Inc)

Thank you To be honest all I am interested is in hearing others views and giving mine where appropriate, its a shame when rampers/derampers get involved but I guess that's life. I am impressed with company, Dr Sener in particular, and provided POG behaves I believe this to be very promising, possibly spectacular if Salinbas 'comes in'. I understand the current position re finance and operations pretty well, I am focussed because (relative to its market cap) I have already committed a bit OTT!

I have no knowledge of individuals posting here so cant comment. Since I have only been invested in Ariana for around 18 months I have only seen one fundraising which did leave a bit to be desired, I, and others, asked about this 'latest' fundraising in the America Sq meeting, and I would say it was the only part of the meeting which became a bit lively and vocal - though not in an unpleasant way, it just animated people a bit! It was the only time when I saw the BOD on their back foot (feet?) a bit, but they explained that the fundraising had to be done in a shorter time frame than ideal and that future fundraising (if necessary) would be done in a more orderly way including existing shareholders. I for one am happy with that until I see anything to the contrary. The intention, as you will have read elsewhere, is for future expenditure to be derived from the profitable production at Kilzitepe if possible.

The BOD are surprised at the 'undervaluation' of the shares, that came out both in the America Square meeting and in almost every presentation Dr Sener has given to Proactive etc. etc. Indeed it is baffling, even the upbeat RNS yesterday on Kizilcukur has produced little more than an early rise followed by a settling back. What is holding this back - is the market capitalisation simply too small (and indeed the B/O spread so large, itself offputting) for serious investors/institutions to be interested? What about Kizilcukur, is it better to go alone and sell into the JV - in a sense the latter seems a bit of a generous gift to Proccea but is that better politically given the need a) to get a slot to process the Kizilcukur material in the existing jointly owned Kizitepe processing facility and b) as a JV partner will almost certainly be needed at Salinbas in due course and why should that not be Proccea so keep on the right side of them?