Member Info for Major-Tom

last link not working. looks like this one works🤞

https://twitter.com/m***rading/status/1676245377085734912?s=20

nice to see first tin top of the q2 tin intercepts

https://twitter.com/m***rading/status/1676245377085734912?t=h6wnh5oddfk5olvn-tjjdq&s=19

Thanks for your concerns Eloro. I didn't really get burned with Arcm. Sold out at break even. Bought back lower, could have bought even lower if I had held off longer but hey ho. I Would buy more Arcm if I was confident the Arcm/ AAL JV will start drilling this year. I'm not so I won't for now.

With the recent $10m placing with M&G and FSDEA. And, the recent $15m loam from FSDEA do you honestly have any short term concerns regarding PRE going bust?

Personally i do not have any short term funding worries and I believe the long term funding will work itself out.

I am unaware of your personal history with PRE. I imagine that there are a lot of disgruntled LTHs. However, from my point of view, with a ~21p entry I am looking forward to what I expect will be a period of positive news flow and hopefully a change in sentiment and momentum that will be to the benefit all holders.

Nothing I can find. Hopefully continues in anticipation of Infian news

Took my first position in Pensana today. Average buy price 20.728.

Hoping for a change in momentum on the back of the recent short term and Longonjo funding clarifications

I personally do not think we will see any drilling this year. More likely a massive drilling campaign in 2024.

Having said that I am going to continue to hold just in case. I expect a rapid and significant increase in ARCM valuation when AA start exploration activities and I do not want to miss out on that due to my penny pinching.

Longboat initially held a 25% working interest in PL1049, this is the licemce Cambozola was drilled on last year. As part of the new PL1049S JV Longboat now hold a 40% working interest with DNO Norge AS operator at 40% and Petoro at 20%. DNO have had recent success in close proximity to PL1049S. In March they announced the Heisenberg discovery. That was DNO's fifth consecutive discovery in the Troll-Gjøa area including Røver Nord, Sør and of course the Kveikje discoveries.

Longboat is please to see Stifel increase its price target on LBE to 70p following today’s announcement of its initial production acquisition.

“Longboat's business has transformed in the space of just two months. From a company with one exploration well and limited funds, Longboat now boasts an improved financial position, a motivated and funded partner, an additional exciting follow-on to the successful Kveikje well and now a cash-generative production base.” (David Round, Stifel, 3 July 2023)

Anyone who calls a deal that costs $12.75m to purchase assets that are forecast to pay for themselves within 2 years and then provide over £10m profit per year for another 10 years a bad deal is IMO being disingenuous.

What do you think would be a fair valuation for such assets Terry?

A very good, small but solid "initial" production acquisition.

Terry, What would you see as a fair price for onstream reserves. The management believe the acquisition price is in-line with recent NCS transactions. Can you realistically counter that claim.

Longboat estimate profits to the company for the year ended 31 December 2022 would have been ~£5.6m. This is based on current / historic Net production which is expected to double in 2024. This should see ~£11.2m profits from these assets from 2025 onwards. The assests are expected to produce until the late 2030s!

Anyone who calls a deal that costs $12.75m to purchase assets that are forecast to pay for themselves within 2 years and then provide over £10m profits per year for another 10 years a bad deal is IMO being disingenuous.

Whatever the market makes of this short term is largely irrelevant. When you consider longboats current valuation ~£13.5m these future profits are definitely not priced in yet. At some point these will be.

Can't just dismiss everything the likes of Donkey post. I must admit I agree with a lot of what they said in their last post.

Need to have balance between the good, the bad and the ugly. There has been plenty of all 3 from Arc over last few years

Just added more myself @25.232. Massive over reaction and to me the sensible thing to do is to capitalise on it and add some more.

News since IPO has only ever been positve. First Tin has so much potential upside from current valuation. Really looking forward to next couple of years here.

Very good post F79.

I believe that the AA deal will be complete, that it is probable there is a significant deposit located somewhere within the JV licences and I believe that Anglo are going to drill the life out of the licences in search for it.

Therefore as you say today's price is largely irrelevant

Looks like I timed my re-entry to IOG well. Expecting a very quick very aggressive rebound in valuation.

I know the BOD can be frustrating. I myself have been very frustrared and quite critical in the past.

However, if you believe that it is likely there is at least 1 substantial copper deposit on the JV licences. And, if you belive that Anglo will eventually drill the life out of the JV licences it is a very simple hold until this has happened. I believe, therefore, no matter how frustrating the BOD are and no matter what is written on here I will now contine to hold and add when appropriate.

Good to see the approvals outwith LBE and Japex hands are in now confirmed and in place. Also pleasing that LBE and Japex are progressing JV on / ahead of schedule.

Looking forward to rest of 2023 as LBE holder

From 4th May final results RNS

Moroccan tax dispute

"Post period end, the Company entered into a settlement agreement with Morocco tax authority on a phased payment schedule back ended over 6 years of approximately US$2.5 million as a full and final settlement against a claim of approximately US$23.95 million."

No matter how you spin it this is good news. Added to the Calvalley deal and the ongoing Attijariwafa to sign off on Phase 2 funding and all the ducks are lined up for the development of what could be a monster size gas field

Hey, I bought this in the 20s and I still expect to see 100p this year and hopefully 200p over next couple of years. Too long in the tooth to worry about blips like this. Nothing goes up in a straight line. Gap filled hopefully see it start to rise again soon.

Shouldn't be too long until we start to get some news regarding Saietta and AVTEC Indian operations.

From 20th March RNS:

"As announced on 7 March 2023, the supply chain for Saietta's complete eDrive system is now ready to support its first set of commercial agreements which has been secured with one of the largest OEMs in the Indian light-duty mobility market, with production on track to commence in Q3 '23."

"Over the course of the initial five years of the master supply contract, Saietta and AVTEC will have the capability to produce a minimum of 150,000 complete eDrive units for customers globally. 80,000 units are already reserved for the confirmed launch OEM in India."

Reading across the revenues from the USA RNS those 80,000 to 150,000 units could provide revenue between £133m and £250m over the next 5 years from Indian operations alone.