Member Info for matherdj

The funding gap became an issue when the ch1 drill date got moved out by so much. I'm suprised you didn't call it that the seismic would make sense to complete first Dunder being in the business. The comms about drilling in parallel were all bs and it was always the plan to wait for 3d. Bad comms plan that was ill thought.

It's not conspiracy Bucks, just business. I dont think that was a plan, just the situation. 3 years to first gas and they have options of loans etc where they still gain.

Exactly my thoughts crusty. I think they'll make it to first gas and protect the asset, but with limited dilution to anyone but PIs.

So as little dilution as possible, but with minimal thought for the share price along the way. It makes sense really as they are just thinking of first gas.

Good question. I think the issue here is that this is run by the zubairs/RA and they know the value of the asset. They are unlikely to do any deals that dont reflect that value and I'd think anyone wanting to do a deal would either want it cheap now or wait for seismic which isn't that far away. I think what's left is relying on the zubairs in the mean time which obviously comes at cost. Loan? More percentage? Certainly not a placing or other means of standing on it's own two feet imo.

Totally agree, those receivables could be the saviour, but I dont think its investable on that alone and without them there's a tough year ahead. There will be upside after the seismic if they get there.

Dunder, sorry.

I think they were sells. I thought it might be you Dundee? I thought that was how many you held/hold.

Not sure your question makes sense northern. What activity are you referring to by 'this'. As for the raise for kn1, I think from the start it was pretty obvious that was to keep things ticking over.

He'd have legitimate access to internal information Bucks. You may be right and just a coincidence.

Well, the zubairs moved the legal guy in. I wonder why.

I seem to remember it covering over a 1000km2, but that's been reduced since.

I was trying to find the km2 the license covers the other day, but gave up (quite lazily). Does anyone know? Just wondering if the 3d covers it all.

Not sure what you mean BG. 777bcf as per the IO report over the full lifecycle.

I'd say it's more like 10-15. Not sure if Vike has seen anything other than this from the IO report. I haven't seen anything other than this outlining the projected lifecycle of the reservoir.

This is what I was trying to say earlier. Not sure its 20 years from the graph but not far off. Page five and this is just for the known gas without the deeper targets they can attempt with each drill. http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

In which case I doubt theres a deal to be had with the current mcap.

eg page 5 of this presentation taken from the IO report would be of interest if you were the other party trying to assess future value http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf . Would the mcap be more important? I dont know, but I would be looking for value, not market sentiment.

It's relevant but not the only aspect. The zubairs aren't going to allow a deal that isn't of fair value and takes into account the IO report, CPR and all other data available.

Crusty, do you think the board will be negotiating purely based on the mcap or the value of the asset and projected earnings? If a merger was always their intention then I can see why the date of the ch1 drill becomes less of a factor.