Member Info for lsetown

Well done - if it was leveraged I think you would be done for!

Ok, it was a cursory glance - I don't know.

But I saw your screenshot. Are you doing this in owned shares or is it leveraged ?

What is so unique about SNG ?

They are just trialling already known drugs in a different way it seems to me.

It may go up tomorrow - but is that you buying?

A nice move up again.

I saw that - it was the high quality of your post that attracted them!

Is this the blob picture?

http://www.newafricanglobalenergy.com/wp-content/uploads/2019/01/South-Africa-Block-Scale-Map.png

I reckon Italy may have been stalling/negotiating.

Something must come soon though mustn't it.

And that $500 million found lots of oil!!

Welcome to the enlightened!

The BOD just gave themselves 10 million share options too and refused to reveal the AGM voting which was bound to be negative.

Yes. But don't take my word for it - look at the Annual Reports.

I would hate it if the current intricate and imminent funding arrangements sunk us.

Even if we sell SA cheaply - to be then free of debt and able to go ahead with Cameroon- that would be ideal!

If the price was right - yes - but kicking Navitas into touch doesn't cost anything upfront does it . It will eventually mean more upfront expense, but if the NFB is worth doing at 40% (and they have the backing) then it must be worth doing at 70% with no immediate increase in cost.

We are still paying something via loans so we aren't much of a liability. Chrysaor have to come around to looking at this after Premier takeover. Hopefully they will decide that the whole thing is worth doing.

It was never clear to me if the three parties signed up in a way that made sure we are being funded from it before farm-in completion. The completion has been put back too. I guess we will find out when Chrysaor take the reins. My guess is they will step into Navitas's obligations, so 70%:30%, but maybe I'm wrong.

Nick. There's the original Carry and there's the new Carry.

The new Navitas HOT Carry is a loan and widely assumed to not be liable for CGT.

It's a long and winding road and we renegotiated several times - to our detriment. Read the Annual Reports if you want to know more.

Don't be so sure. If we are awarded and receive cash, I think there is a much greater chance that it will be shown in the share price.

It's all a long story and I can't be bothered going back through the RNSes. But the upshot is that before the Navitas deal (and as-is now as it hasn't been signed off) we were to expect an extra Carry from Premier to get us to first oil. That would be taxable and we agreed a 'lock-up' on dividends and buybacks until we had paid any CGT due. FIG acknowledged that if the Carry was irrecoverable then it wouldn't be due.

The Navitas deal removed any Carry and it was assumed that FIG would untie us. But that has yet to happen.

If the OM award is substantial, the share price will rise so it may not be cheap for them to buy.

Also we are still tied up with legacy CGT from FIG for the Carry from Premier (which is essentially irrecoverable), so until that is sorted they can't buyback or dividend anyway.

"Please give some feedback... Lol...with COVID etc... it's getting pretty boring and lonely 'talking to myself'..."

I feel the same brig0d00n.

This board will be full of posters when a deal is done, but before that there are some great contributors here. Let's ask them to post over this weekend!

In the future this will be known as the 'TRP Folklore Weekend'.

lol.

GLA

$50 million dollars for our 50% would be amazing IMHO.

Even a bit less.

New Age Win - We Win.