Member Info for lsetown

I think that first drill is in the Orange Basin, but Chevron farming into the Walvis is great news.

"Filters Tab" above and next to "Share Chat" - put any name you want to filter in there.

Lol. 'Enter' sent that last one off.

.. to get Cameroon going. I just hope JA produces a good deal that doesn't require much dilution. Fingers crossed I guess.

Time to use the Filter I reckon.

I agree that Namibia is the big asset and we mustn't be diluted ttrying to get

RJ has the Option to sell - not EXT the Option to buy.

It does appear silly at first glance but perhaps there are charges and restrictions not discussed in the RNS?

If not, is it just plain bullishness which also prevents Jennings from selling at these levels and knocking the price?

What other reason is there?

(Maybe we should all try and get similar terms from Ext - lol.)

Edit. Yes it is a discount to the 1.2p, but relative to the current share price it is a higher uplift I think.

No, but they had the choice with the Call. Now the holder has the choice with the Put.

Assuming the management has integrity then it looks bullish to me.

"Can someone explain to me like I'm twelve why this rns spikes the price by 11%?"

The management are showing that they are prepared to buy 99 million shares today at a price that is twice the current share price. Buyers see an opportunity.

"Maybe EXT think that if Jennings sell the 99 million shares on the open market then it will crash the share price. If it does, then so be it."

Maybe they are very bullish and would rather buy them from Jennings than see others buy them so cheaply?

I know they have a lot of shares already and AK has just been involved in the fundraise. With all these things, you hope that the management has integrity.

The "Auto-exercise" on the Call option at 1.5p could well have activated if TO14 results were good. The share price got around those levels not so long ago.

I just read this that Ext are bullish. But if I am wrong and I stick around I will hopefully learn why I was wrong.

Why would they have bought the Call Option? There was no reason to do it until the share price was higher.

They now have dangled a carrot to get the same amount of shares for 0.75p instead of 1.2p.

It's not simple to get 99 million shares quickly and at current prices.

Adam - it's a very good entry price if you believe Angola will work for us. The CEO recently bought in here at over twice the current market cap.

Have you tried turning it off properly and restarting?

Taking the option via a related party before results was questionable. A direct purchase now wouldn't be allowed would it?

This bloody company has been infuriating!

I went big here many times, but am still at home.

In the past they were producing from only the top 8m. Perhaps they already knew then that the deeper areas were too difficult to flow.

We already know it is a productive reservoir that appears to be recharged with a possible increase in reserves. If Sonangol can get the engineering right to produce from deeper down, then there would be upside both here and in other similar areas on our blocks wouldn't there?

If they can't do it then what has changed anyway? Nothing so far to say that the EPS can't go ahead is there?

It has been 3 months now, so perhaps they thought they had to?

The warrant purchase is only guaranteed if/when we get to 1.5p.