Member Info for LockedIn

What I do not understand is why you are here telling RBD holders how to vote when you don't hold a single share in this company. Go back to harassing DB for updates at UJO please.

Kyle enlighten me on how you come to the conclusion the asset is 'dead'? The Italian governments step change in energy policy has meant a once stranded asset is now moving so fast the company can't keep up! Local objections have been considered and a less impactful solution found. The Abruzzo regional government have already given the green light, there's boots on the ground working on the EPP and the official decree is en route. Cuckoooooo.

Heid Hayhurst just wait til I get started on "The King of Socks" Count Andrea Cattaneo della Volta. Abject failure at Zenith - not wanted nor required at RBD thank you and goodbye.

http://news.bbc.co.uk/1/hi/business/492722.stm

Adapted for Kamran's requisition 2.0 "trounce me once shame on me trounce me again well played RBD!"

Heid Oil.... Colle Santo's very own Ruth Hayhurst!!!!!

Forum H2O want to keep hydrocarbons in the ground (fancy that) so now Colle Santo is a dud and the deadly duo are even deadlier. And to make matter worse they take a wage!!! Someone call an EGM quick!!!

You only need to look as far as the company RNS feed (fancy that hey?!) for a pointer on what happens next...

"Following a review with the heads of Environment, Energy, and Mining of the Abruzzo Region, the Abruzzo regional government confirmed its agreement with, and intention to approve, by decree, the Early Production Programme for the Colle Santo gas field, allowing early revenue generation from the Colle Santo project."

Or believe a random anonymous twitter account tweeting twaddle. Each to their own.

@Heid

Long term investors have held these shares through ALL WN drills and suffered as a consequence. Why on earth would they now want to give away a portion of WN to an incomer when the asset is the most advanced and derisked it has ever been. It has always been about a Hz well and we have years worth of info not to mention analysis from world class best in class third party external analysts. The party is soon to get started here... If Kamran The Great was 1) a supportive holder of RBD and 2) a master financier like you portray then surely he'd be having a wee word with Rathlin and helping them get their funding away so WN can crack on and get that Hz drilled. No?

I asked what they bring to the table for WN specifically as that's why 99% are invested here. Anything?

Heid what exactly do you think the requisitioners will bring to the table that current BoD can't in terms of getting WN drilled?

Wow that's no mean feat reducing something by 150%!

Is Cattanea the saviour? I look at Zenith and quiver with fear.

I'm actually surprised the MATD SP hasn't taken yet another hit. It's holding up quite well considering the current market climate coupled with yesterday's news that 2020 is now essentially a write off for MATD.

Good old Mike Buck has went from pressing the government to get approvals pre end of year 19 to Q1 2020 and now admits it will take "a number of months". Read that as "there will be no well activity at Heron as approvals will take months and we've missed yet another drilling window".

I have confidence the license will come but MB is terrible at setting market expectations. This was always a big risk for those who have followed the story here and that risk has now came to fruition. Surprised the price has stayed relatively flat considering funds will be required to progress heron to production. Let's hope MB can get an RBL type facility and finally deliver some actual value to shareholders

Fair points bonum - I admire you're confidence in receiving the Exploitation License pre-Q2. I see this as MATDs biggest risk by a long shot as we currently stand. Reasons:
- MATDs previous track record of sticking to timelines
- The Mongolian Gov and MATD are going through this process (EL approval) for the first time in over a decade
- In-country elections which are known to slow everything down
- The ****storm that is coronavirus

For these reasons I am highly cautious on MATDs prospects of receiving the EL on time i.e. pre Q2. I know MB has stated he is confident, but then look back at the numerous times he was confident of sticking to drilling schedules over the years and look what happened there....

Good move for MATD yesterday continuing into today. On a technical front, MACD crossover and a clean break through the 8EMA on the back of strong and increasing volume suggests this is a buy at the moment.

On fundamentals, the clock is ticking on MB to get the Exploitation license or else MATD is going to lose an entire drilling season. A fundraise, in whatever form, will also be required if/when the Exploitation license is received.

At ~2.8p MATD was arguably always too cheap. The question now is - is this a pre-placing pump or does the increase in volume suggest we may be on for an Exploitation License in the near term. Hopefully both - then MATD transforms from a non-revenue generating explorer to a cashed up producer.

Things heating up again at PREM.

Will the EPO Gazette finally happen? I note the crocodile is in Matebeleland tomorrow... I wonder if this has any relevance? A personal pledge to the people of an EPO-enabler which will bring jobs and prosperity to the all!!!! Or something like that.

Acker, I understand your concerns with further payments but then again I didn't expect them to cough up at all yet they have delivered and funded the latest works at RHA. Both NIEEF and PREM (via RNS) have repeatedly stated that further funds will be forthcoming and I look forward with cautious optimism to the next "payment".

PREM have a legally binding contract with NIEEF which stipulates NIEEF have agreed to pay PREM USD$6m. This has not changed, you are incorrect to state the agreement has been paid in full. Z$6m has been paid, more should follow.

Interesting discussions.

I can't see merging @ RHA subsidiary level due to several reasons, not least as Acker pointed out, PREM being a minority holder in the RHA sub. I also can't see why the Zim Gov would fund RHA in PREMs hour of need to then subsequently reduce/relinquish their holding in RHA. It doesn't make sense - PREM gave NIEEF the opportunity to relinquish part of their holding in exchange for a reduction in the outstanding loan account and NIEEF knocked that back in favour of funding RHA to production so they clearly want to keep a significant holding in RHA.

I'm convinced it's PREM shares in return for a greater MNH holding/complete buyout and therefore it's imperative PREM get the SP as high as possible to make this deal attractive/possible. And here lies the problem... all the good news required to propel PREM higher is reliant on 3rd parties i.e. Circum liquidity event, more funds/progress at RHA, EPO for Zulu. The inefficiency of the Zim Gov is costing us dearly in the form of continual dilution as we wait (and wait and wait) for sign offs etc.

Can you expand a bit on your thoughts? If MNH like the PREM assets then they'd want shares in PREM the group not a subsidiary. Or am I misunderstanding?

I fully expect the share ceiling to be raised, likely alongside an offer to acquire more/all of MNH. MNH have made it abundantly clear they want to be publicly listed and PREM/GR have reciprocated by indicating they are looking to acquire all of MNH.

The most realistic way PREM can achieve this is to issue more shares and to do that they will need to raise the share cap. The big question is how high can PREM get the current share price in order to make the MNH acquisition easier i.e. less shares required to distribute.

With regards to working cap, didn't GR state revenues to PREM from MNH are currently negligible in terms of supporting PREM as a group? Any meaningful revenues from RHA are still at least 6 months + away so I do not expect PREM working cap to be covered for this calendar year.

I'd expect you know the play here Acker but in short...

Get RHA producing (6 months) -> share price appreciation -> full merger/buyout/RTO with MNH (hopefully at an acceptable level)
EPO will come when it comes, completely in the hands of The Crocodile. JV when EPO received.
Small shareholders getting p'd off with Circum and want more influence (update Q1)
Everything else is noise.