Member Info for MajorThomas1

Bought here for the first time today. Been watching for some time as always thought this was a well run, cash generating miner with good growth potential. The only thing that stopped me investing was the ongoing issues at Evander with regards labour and costs. Today�s RNS seems to have drawn a line under these issues. Hopefully this and the positive news on BTRP and Elikhulu will enable the SP to push on towards the 200 day MA around 11.5p GLA

Also bought in here today. Got 2 lots around 8.64p. With record sales & exports, city & directors all buying in above current SP this is right in my buyzone. Can�t see it dropping much further and IMO any news regarding financing should push this through short term resitence & onto 200DMA around 14p. GLA don�t think we will have too long to wait for news.

To me there�s no real rush here. IMO L, The ED revenue has drawn a line under the SP around the 19.5 / 20p. If DTU, Helios or ED2 come through they will underpin the SP at level North of this price. IMO no real downside from here. Not many early stage oilers got such reward without the risk of dilution to achieve it. I�m sitting tight for now and see anything south of 30p this year.

Well sold out again this morning. Digested the rest of the results last night and just couldn�t get away from the reliance on the disputed trade receivables. Will keep a close eye on it and get back in once things become clearer in terms funding for Ruvuma development. I�m sure this will come good. Just a matter of when and at what level I want to tie my capital up at. GLA

This is going to sound negative so please don�t jump to the deramper conclusion. These are genuine concerns and genuine queries. I am current holder of AEX, first invested a small amount in prior to NT1, added more prior to NT2 and sold up at the spike post NT2, watched closely to see how things progressed regarding developing and commercialising Ruvuma and bought back in recently on expectation of farm out and the development licence. However following the preliminary results last week I am already considering selling up again. Why. I may be naive or have missed something but I was under the impression that the $19.5m raised in 2016 was to fund NT2 and NT3, now Chikumbi 1. However given the cash position stated in the results, $6.2m as of the 31st Dec 2017 and the average annual admin costs of around $2.3m I cannot see how the company has the money complete the drill this year. This was a a bit of a revelation for me as the cash position in the previous results was $19.5m, as of 31st Dec 2016. The questions in my head, now doubts, are where has the $19.5m gone? What was the cost of NT2? What will be the cost of Chikumbi 1? Am I missing something? Does anyone believe AEX can drill Chikumbi 1 this year? Looking further into the results I took a little solace from the $6.95m outstanding trade receivables. However when you dig a little deeper you find that only $2.7m is actually due to AEX, the suns are due from TPDC and TPDC are claiming $5.97m unpaid royalties against the $6.95m which if successful would mean only ~$0.4m net to AEX to be paid. I know that AEX say this is unfounded and not due but on the other side of the argument TPDC claim it is. Disputes with in country / native organisations usually drag on and usually end up going against the �foreign� company. Especially with the new leadership In Tanzania, ala ACA. Given the BOD guidance that CAPEX and going concern status hinge on these trade receivables I am getting jittery and thinking, selling up and seeing how it pans out.

Looking at the big trades late yesterday it looks like significant new money is moving in to HUM. Hardly a surprise with the revenue expected to be generated this year.

Games afoot. Currently quoting 31.2p to "sell" so all the trades his afternoon should be "Buys"

Just bought some HUM at 32.2p and it is showing up as a sell.

Should have read the MMs wouldn�t be pushing this up without good reason. Out for lunch and phone has had too much wine.

The MMs would bee pushing this up on with good reason. They only take them down to generate interest. If the price drops they can end up with overpriced stock to move on and that doesn�t happen very often. Reckon it�s just people realising the upside here. Said all along that with right news regarding farm out or JV this could 10 bag. That�s 1000% potential against 100% risk. IMO just people starting to realise that there�s not many companies offering such potential upside.

Maybe the MMs think this is going to rocket over the coming weeks and don't want to give their stock away cheaply.

Only new here Jim so might be wrong but I reckon this is going to become a very different place over the next few months. Hope you come back when things get more positive.

With WTI crude up 36% this year and pushing 52 week and 3 year highs I don't think ROSE could have picked a better time to secure a partner for the Paradox Acreage. Perfect timing for the POO recovery and the USA's growing appetite for energy independence. With a CPR of 1.1bn barrels oil & 2.2TCF gas. With the first drill alone targeting 32.5m barrels and a 56% chance of success, IMO it really is a no brainer to partner ROSE at these oil prices One things for sure there are exciting times ahead no matter what way this goes.

Thanks for the advice SouthC, unfortunately I don�t take advice from BBs or bank managers for that fact. I find that any advice from these mediums is usually only for the best interest of the person or institution which is giving the advice rather than the receiver. Don�t concern yourself with my exposure here. I have a few well balanced portfolios which are well hedged and performing quite nicely thank you. I don�t know if you have ROSE in your portfolio or not but purely for info, not advice, the reason I have personally added them to mine is to give me the massive upside potential without the need to expose to much of my capital. Over the last few years I have always had one such company in my portfolios and they have been my biggest successes. SOU was my my ROSE of 2016 and I 5 bagged on that from s similar position, failures in Indonesia and Italy, consolidated due to to many shares raised cash, singed JV with Schlumberger, struck gas in and the rest is history. I can see you�ve called this right over the last few years but every run comes to an end and I think this could be it. My call is that this won�t break 2p until they drill and before the drill it is gautanteed to breach the last placing price. If a placing is required to drill so be it I will take all the discounted cheaper share I can get my hands on and partake along with City Financial and Roy Williams I�m sure.

southc, what do you think about ROSE as an opportunity for someone like myself, buying in with no historical losses and looking to the future SP rather than the past. There's bound to be more than only me looking at this and thinking that now might well be a good time to get involved.

Super, I feel the pain. I know that entry points can totally change peoples view on a company but I can only see upside from here. Hopefully this can turn the corner and start to recover some of those paper losses for the LTHs. Looking at the MCAP if they can get a JV or farm out deal which enables them to drill without further dilution this will fly. I have put a little in already and will add some more ove rhte next couple of weeks. I reckon this may have found the bottom. There's always risk but the reward here is absurd. IMO this could easily 10 bag on the right JV / Farm out and as you say the company are very bullish on the possibility. Time will tell i suppose......

Thanks for the info. I am just trying to get my head around the concerns over cash flow given that the cash position as of 30th June 2017 was $874,000, they received $1,000,000 from the sale of the SDA mill and around $4,000,000 from the placing. Even assuming the higher end of $1.5m for seismic, that still left around $4,500,000 for ongoing operations. Obviously any drill would need further cash if they cannot secure a free carry via JV or farm out. But given the numbers being targeted, the reported COS and confidence with the data a free carry shouldn't be out of the equation. Maybe I am missing something but I only seeing upside from this point.

Interesting to see that there is very little selling going on with this stock. Given the obvious negative sentiment there is practically no one selling. Buyers will come if / when good news comes. Be interesting to see the price reaction then.

Out of interest. What was the cost of the Seismic survey?

It will be worth plenty if the "interested partners" like what they see. Looking at the history of this company I can understand the frustrations of some but IMO they have done well to come out of the oil downturn still breathing, seismic complete, interested partners and the prospect of drilling this year / early next year. IMO if ROSE can get a farm out / joint venture agreed which enable them to drill even 1 well this will fly. 2.6m MCAP company drilling for circa 32m barrels of oil with around 56% C.O.S. is unheard off. That virtual data will prove very valuable if it help seal the farm out / JV because I can see this multi bag just on the prospect of drilling.