Member Info for lsetown

EXT was going to offer up to £8 million in convertibles before recent news. That is over 2 times our current market cap.

How much cash do EXT have?

Would they still be interested in this?

A bold play to buy more at these lows, but it may make complete sense!

Our Namibian block is worth loads more than the current market cap. Forgetting Cameroon is no problem.

I'd accept 35p or slightly less!

Looking at your historical posts you've sold a lot of shares for Serinus!

I had a look but can't find the 1.35p buys. Was there an RNS?

The fear to me is that the bold purchases are proudly ignorant of the reality.

"I put this board together and we will have a wonderful Unicorn future!"

What if the BOD has found a great deal in Brazil that they know is a company maker?

Wishful thinking perhaps.

Human psychology is always a factor. What is the probability that the BOD isn't truly accepting the reality of the drill and has been paying over the odds?

(I'm holding).

Edit 0.8p+ !

EXT must believe that we have a future unless they enjoy wasting money!

Scott Gilbert, co-founder and vendor of APEX in Angola joining the Executive Board is also interesting. They see a future here I hope.

They withdrew the £8m funding convertibles at 0.8p which is interesting. They are close to that 30% now. Can EXT easily afford to buy us at 8p+ though?

30% is enough to make me think they don't plan to dilute shareholders for their wages and forget their token shareholding. Some AIM BOD sadly do!

TRP need to fanfare their assets and get some PR out there. Even if Cameroon is a no-goer, Namibia and SA are worth many multiples of the current market cap.

Without decent PR the price spiral is self-fulfilling though. A lower price means more dilution if raising which means a lower price. Us shareholders are wiped out.

We've all lost here so far. I've lost loads - lol. If you are bitter about losing £20k then how bitter will you be if something actually comes of this?

All 3 assets are in play and the majors are looking again at exploration (see Chevron etc).

I think now is the time to walk away and never look back, or instead average down.

Interesting comment in the article about the Chevron farm-in to the Walvis Basin:

"PEL82 (Namibia, Walvis, Chevron): 4.9% net, carried but details are missing"

'But details are missing' : so they have hidden them. It would be very useful to know what they were!

Very interesting reading - thanks.

Sintana market cap. is 70 times TRP by the look of it. But they have cash.

So much potential here IF the right deals are done....

Sonandonandongol.

Lol. How long has it been!?

You both make good points.

If JA can get Cameroon going, then the ongoing revenue would mean that we end up with a much bigger share of Namibia. That would be great.

The main thing though is that JA mustn't dilute us shareholders to zero anymore - from here there is no need to dilute much if he makes the right deals!!

Jeremy isn't stupid or without integrity - at least that is what I am hoping.

If Tower RNS a great Cameroon deal then it is the icing on the cake.

After recent news, we (and I guess JA) know now that the Namibian block is the most interesting asset.

Crazych38, I agree. Have you tried emailing/talking to the company about this?

We will have enough money for Cameroon if we get properly carried - like you say. Any substantial raise for funds for Cameroon would be wasteful though. I am still hoping JA knows this but many posters tell us don't have faith there.

The funny thing is that the more the share price rises, the more the company is able to raise a bit of money if required at minimal dilution. Shareholders will gain confidence that they aren't going to be wiped out in a raise. A virtuous circle!

If you then think about the assets here and their potential value if Tower can get traction and revenue then we are talking way, way up from here!

(I am still 60% down at the moment lol.)