Member Info for KeithOz

Unfortunately, this is just a confirmation of the status quo, as originally announced by EOG on 29th July. I'm not sure that it has any bearing on the status of PRD's Irish licences.

@Jimmy, Sorry, misread your comments, thought you were asking about HSSI. re seismic spectral decomposition, I have only seen the 2D lines in the presentations that you have already seen, as shown, these do not appear to have been analysed at different frequencies. I am sure this will have been done in the recent extensive reprocessing, particularly since the reservoirs in MOU-1 were rather thin, but it has not been made public as far as I am aware.

Sorry, slip of memory, GRH was a director of Oracle, not Intel!

Hi Jimmy, no this has not been made public. As far as I am aware, the HSSI company is Scotforth. Sound has released some data in a previous presentation, but at such a low resolution as to not be useable by others. Cube, who occasionally post here and is an O & G finance specialist, has on his Twitter account
twitter.com/__The_Cube__
referred to HSSI on Jan 20 2022.

GRH and I had a short exchange on the same subject on this board on 19th March, somewhere on these pages:

https://www.lse.co.uk/profiles/keithoz/?page=27

https://www.lse.co.uk/profiles/grh.../?page=20 (2 bottom posts)

That's really all I know on the subject.

re water contacts - I understand your concerns, due to the compartmentalisation encountered at Anchois. I have not seen the full well logs of the historic drillholes originally looking for oil, but cannot find any mention of water contact. There was no water contact in MOU-1, and since MOU-2 is up dip, I do not foresee this being an issue there. I am aware that there was a water problem in the old oil well drilled in the 1920's up in the northeast of the licence, but do not know exactly what the issue was.

Hope this helps, Keith

GRH is not a keyboard warrior who hides his identity behind an avatar, he has provided a link to his Twitter account from here on a number of occasions. He has a very impressive CV, of particular relevance was his involvement in the first hyperspectral satellite imaging (HSSI) company. This technique is able to detect not only traces of oil and gas in soil, but also the variations in other factors, such as vegetation. It is now being widely used for O & G exploration, and there are a number of companies offering these services.

One of the first prospects where HSSI imagery was used was on Shaikan, hence GRH's knowledge of where they should drill for optimum result. Advice was also given to Sound, but they chose not to follow it. HSSI imaging (and other related commercially-sensitive data) is available for Guercif, and is rumoured to be exceptional. I stress that I have not seen the data personally, but know of people who have, including obviously GRH - he has indicated this in a post last year.

The key to using HSSI and similar techniques relies in the ability to process and interpret a huge amount of data. Some might have noticed that GRH's past experience also includes being a Director of Intel's EMEA operations.

If you are new to these boards, you may notice that a number of the regular posters of useful information here also have real identities that can be readily found across the relevant social media. It will be no surprise that all of the regular providers of FUD and misinformation choose to remain anonymous.

and once again, the link didn't work:

https://www.youtube.com/watch?v=reFEFIjWb6U&ab_channel=EnergyandMiningSA

Slightly longer answer (after breakfast!) - IOCGs occur in clusters, this video gives some interesting background on the very large number of IOCG systems around the Gawler Craton of South Australia, and how they were located. Sorry about the uninspiring narration (not me).

@PingPong12. You got it!

When I see over half the page of this, or any other, bulletin board appear in green, it is a good indication that positive news is imminent. This is the Troll Density Forward Indicator.

Not cheerleading, and I am not so vain as to think I would have any effect on the share price. Just I think your constant criticism of the CEO and his abilities reflect a disturbing lack of understanding on the realities of small cap exploration. Did you really think that the company would magically hit economic mineralisation without expenditure? Do you not know that all non-profit generating companies need to raise money in order to grow, and that this inevitably results in dilution? There is a huge difference between raising money to keep the lights on, and raising money to invest. KAV get exceptionally good value from their investment in exploration.

Maybe you have been the CEO of an exploration company, and know what you are talking about. If so, please explain for us plebs how you would have gone about acquiring 100% of the KCB & Ditau camps without dilution, and also how you would have fully funded the next 12 months' activities without dilution. In the current environment, BT has achieved far more for at less cost KAV than have most other companies, it's just that you are so bitter at your losses that you cannot see it. 95% of the small explorers on my watchlist would have lost you money this year, some far worse than KAV.

If all you see are negatives, why are you invested in KAV, as you claim? You have said you are not here with an agenda, but 20 out of 22 KAV posts from you in the last two months were highly negative. Since you are so averse to dilution, why are you invested in small cap explorers at all? If you are making investment losses that you cannot afford, it is rather childish to lay blame at the door of someone who is actually working very hard and effectively in an exceptionally challenging environment, rather than taking a long hard look in the mirror.

Hot on the heels of the news that the Irish government-owned Port of Cork is pushing its own FSRU, it seems that the DECC is fending off threats of legal action for not progressing offshore licences, by demanding further information from the companies involved, summarised in this Proactive piece:

https://www.proactiveinvestors.co.uk/companies/news/996837/barryroe-offshore-energy-and-lansdowne-shares-drop-as-irish-government-seeks-extra-financial-information-996837.html

@Shagged. A reasonable question readily answered by a little of your own research. Are you aware that Cameroon is in a state of civil war? Or that VOG has been in a long-running legal dispute with one of their partners/major shareholders? That they have been involved in a long running environmental dispute, with claims that they did not have planning permissions, and have caused environmental degradation? Thay they are in dispute with the government over licences? That one of their wells has started running out of gas way before expected? That they have had almost 100% management change since their disastrous and ill-thought through contract with ENEO? That they paid for a gas pipeline network with a lot of borrowed money, without enough supply contracts to justify the expense? That they have an asset in Russia that is now worthless? There is more.

Sorry, link to slides didn't work, try again:

https://kavangoresources.com/downloads/presentations/interviews/221016-KavangoResources-StockBox-Q42022-12-month-operational-plan.pdf

2023 will be 'the year of StanAccy eating his own words'. Look at the slides used for the finance raise, which can be found here:

* In addition to the six in progress, a huge number of already carefully targeted RC/DD holes across four licences of the KCB - about half fully funded, 100% owned.
* Six DD holes into the B conductors , these will be much more precisely positioned following the four additional TDEMs already performed. Fully funded, 100% owned.
* KSZ North - 61 TDEMs, 405km CSAMT, 505km gravity surveys, 1191 km ground magnetic surveys. All fully funded, 100% owned.
* KSZ South - 23 TDEMs, 168km CSAMT, 168km gravity surveys, 4070km ground magnetic surveys. All fully funded, 100% owned.
* Ditau Camp - 32 additional CSAMT lines (don't know total length, but a lot!), similar amount of gravity work. All fully funded, 100% owned.

This is a staggering amount of work for such a small company. Kavango stands head and shoulders above other similarly sized companies not only for the size and prospectivity of their projects (in benign jurisdictions), but also for the incredible cost-effectiveness of their exploration work.

In the last year. KAV have learned of the prospectivity of the Proterozoic in the KSZ, and that the GRS is an IOCG system. Nor did they know that Ditau has both REE minerals and IOCG systems. Some of you do not seem to see any progress at all. This has all taken place against an incredibly difficult time for small exploration companies, when money, equipment and people have all been in very short supply, and share prices have plunged across the board.

If you don't understand the importance of all this preliminary exploration work, and think every drill hole should immediately hit an economic deposit, you shouldn't be investing in this sector, and certainly shouldn't be making bitter comments because you have failed to become an overnight millionaire as a result of your own ignorance.

Rant over.

I think that Gil is waiting for the share price to reach 40p before releasing the RNS, just to prove that he is good at making share price predictions.

I've been trying to spy on operations using the Sentinel 2 satellite, but it's been cloudy the last few days. Here's the latest clear view on 20th October, showing the rig & two supply ships. Another pass due over the weekend - click on the calendar at the top, if there is a circle round the date, there is a view.

https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=-30.667007909508932&lng=17.176055432937574&zoom=16&preset=CUSTOM&layers=B01,B02,B03&maxcc=99.3&gain=1.0&gamma=1.0&time=2022-04-01%7C2022-10-20&atmFilter=&showDates=false&evalscript=cmV0dXJuIFtCMDEqMi41LEIwMioyLjUsQjAzKjIuNV0%3D

Here's the announcement:

https://www.asx.com.au/asxpdf/20221028/pdf/45gx0xbls0ll5n.pdf

and here's the Proactive summary for those who can't be bothered to read the 24-page announcement:

https://www.proactiveinvestors.com.au/companies/news/996680/cobre-raises-economic-case-for-comet-target-at-ngami-with-visible-copper-996680.html

For those who can't be bothered to read either, it's 45m intersection, 0.6% Cu at the top, 10% Cu at the bottom, Up 20% today, market cap AU$ 30.6M (+£17.2M).

We're next.

For heaven's sake, you should not invest money in any company if you do not understand anything about what they do.

The original proposition that there could be economic amounts of Helium at Rukwa was researched by Oxford & Durham Universities. They had nothing to do with quantifying a "reserve". Indeed no one has quantified a reserve, because you can't do so until a discovery has been made. What has been done is to estimate a Prospective Resource, which has been done by SRK, who are an independent and well-respected outfit. The full details are in the original December 2020 Prospectus & CPR, For resource calculation & risk assessment, see Section 6, starting on p.23 of the CPR, )which is p.94 of the whole document), and details prospect by prospect can be found in the table on p.31 (p.102 of whole doc).

https://www.helium-one.com/wp-content/uploads/2020/11/259989-Project-Apollo-CLN-reduced-memory-Final-13.11.20.pdf

I suggest you read the whole thing - it's your money at stake.

Since these are as yet undiscovered resources, they are classified as Prospective Resources. Once Tai is re-drilled next year and a discovery made (note I say IS not IF), that prospect, and possibly some others, will be re-classified to Contingent Resource - which is a discovered volume of gas that is probably capable of commercial development. Once further appraisal has been carried out and a workable development plan has been approved, then, and only then, is a Reserve declared. Reserve status is important, because that will trigger the ready availability of Reserve Based Lending, which will enable financing development of the Reserve, plus easier financing for further appraisal of other prospects.

This is the key driver of concentrating on Tai - they know there is Helium there, just measure it in situ, declare a discovery, appraise, develop a commercial plan, borrow the cash to implement the plan, use the cash flow to repeat at further prospects.

@HeliumBull got it spot on with the first alternative scenario in his/her Thursday 20.42 post. As regards all the other conspiracy theories, I thought that cannabis was still only approved for medical use in the UK?

Oh, BRV beat me to it - well done!

@Jimmy. Yes, this is confusing, and has arisen as a result of changing the names of prospects and wells. MOU-2 originally was the name given to a separate prospect from the MOU-Fan. What is now termed the MOU-Fan is where MOU-1 well has been drilled, and MOU-2 well is about to be drilled. This MOU-2 prospect is mentioned on pages 8 & 12 of the September 28th 2021 presentation:

https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/09/29105657/Webinar-Presentation-website-Version-28092021-Corrections-15.40pm.pdf

In this presentation it is shown as having best case prospective resources of 426 BCF, with downside/upside of 148/944 BCF. My understanding is that the originally-named MOU-2 prospect is deeper than MOU-Fan. Both these reservoirs consist of turbidites of the TGB-series sands (TGB = Taza-Guercif Basin) - in the case of the (old name) MOU-2 prospect these are the TGB-3 & TGB-4 series, whereas the primary reservoir for the MOU-Fan appears to be the TGB-2.

I have to close down now as we have a massive supercell storm incoming, I will look back later if we still have power :-(

@StanAccy. Interesting views, I will always listen to divergent opinion, but I have difficulty understanding why you have reached your conclusions. I consider that I have a pretty good understanding of mineral discovery, and have several million bargepoles lined up ready to go. With the latest funding, which is a remarkable achievement in the current investing environment, KAV are fully funded to make probably multiple discoveries on the KCB, confirm what appears to be a potentially transformational discovery in the KSZ, and follow up on what could be multiple IOCGs and carbonatites at Ditau Camp. Very, very few companies of this size have that potential.

In the last year, Ben has shaken this company up considerably and the team has made far more progress with the various projects than you appear to comprehend. The proportion of shares in firm (and knowledgeable) hands has increased substantially, with the first institutional investors coming on board - always a good sign. Over 90% of the small cap exploration outfits on my watchlist have declined in value very substantially - this is simply the environment we are in at the moment, which is likely to change for the positive over the next year. Perhaps you could provide us with some pointers as to your geology and/or finance qualifications, and your exploration and company management experience and skills, then we can take a reasoned view on your persistently negative posts.

If you think this company is such a disaster, why are you a shareholder, and why are you always trying to talk it down? If you are not a shareholder, why do you believe it is your personal responsibility to save us dumb investors from throwing our money away? You have posted 20 times in the last two months, all negative, and most presenting very bitter views of Ben Turney which do not in any way reflect the progress that KAV has made under his management - do you hold a personal grudge against him?