Member Info for matherdj

of course being $45mil if we still had the 75%. I think all of this just comes back to the government not wanting Aminex to take on such an important and large scale project. Maybe no deals were out there simply because there was no license? They know what they are doing to get what they want.

Tarry, you say 'The 'deal' only includes CH1, pipeline and seismic. How are we supposed to afford to pay for CH2?' The carry is for the projected full field development of Ntorya of $140m our 25% being $35. That obviously raises more questions about why we couldn't raise the funds which Jay explained was $15mil for CH1, pipeline and seismic, but we don't have to worry about where the money for CH2 comes from.

I know you think it's a lack of sense of humour, but I refer you back to a post from GL a while ago. You'll know what I mean.

Dorset not Devon. Near by though.

Crusty, I agree that the Zubs have got an incredible deal and its painful to think about what could have been. But, it would appear the government would not have granted the license. So where would that have left us? We have lost 2/3 of the asset and now have 25% fully carried for full field development. CH1 should be a great drill and the lower target could be a game changer again. There's a lot to look forward to in the next 18 months where if things go to plan we should be in production with 3d seismic done. The BoD will be adjusted accordingly, which I wait to see in what way, but is good news and should reduce our costs. Hopefully we can get something out of KN1 by end of year too. It will be interesting to see whether the government sign off on that work now. Also waiting to see how fast the government move along with all of this and the zubs with licenses/GSA etc. If we see those moving quickly then I will be very happy with the deal. As always, time will tell on that front.

I'll

I certainly be voting for the farmout. Madness that they didn't have more of this ready to show investors on the day of the AGM.

Is this free carry to production or free carry for the expected capex for total fields lifetime?

That would be solos 25% haggis.

To be clear, capex costs so not including opex.

This link from from the other board is interesting ****://imagebucket.net/hcmreebn28u8/AEX_FFD.jpg (replace asterixes for http). The estimated carry costs seem to be for full extraction of 2c 777bcf which would include ch1, seismic, pipeline and subsequent wells (3-4 mentioned earlier separately). Could that explain the high dev costs anticipated by the carry?

I totally agree its conjecture now BG, like I said I just don't want to be here in 6-12 looking back and wishing we'd just got prepared. As for the statement from Jay, the question for me is with what? Had there been a more sizable cash position in the deal then that statement looks great, but it looks like we have been given enough to see us through to production and potentially do some remediation work at KN1.

Totally agree Drewky. I'm only in if this is professional and tactful.

On one hand I agree with you BG as I think the BoD has no choice but to reduce the headcount once the deal has gone through and thus reduce the wage bill and secure us into production. However, I can also imagine being here in 6-12 months with no change which would not be acceptable. I think it wise to get into a position where if that does occur, we are prepared, but also to do it off these boards.

Hi Tarry, if Drewky is happy to, we could use his blog email address to send access requests to.

Would that be OK with you Drewky?

I was thinking about this over the weekend CP and with 2 drills, 2d seimics, license costs, CPR, IO report and wages it must be close to the $40mil.

Fair enough mediator. I can't be arsed to reply to that in any detail.

Mediator, the price peaked and began dropping before the agm if memory serves and you can sell using your mobile phone. As for your post you mention I found it hard to make out what you were trying to say but thought it unnecessary to reply. Anyway, I think anyone who has been here long enough knows that Pete will speak his mind regardless and was slating the bod before he announced he'd sold a large proportion. Enough said from me on the subject. Tarry, if you are happy to set up that slack group I think it will be a great start and appreciate your efforts.

Blackgold, he said he sold out 90%, but I'd assume from recent comments he bought back in after the drop. Either way, I don't think asking to confirm ones holding is a question that should be asked.

I agree that slack would be good. I use it at work for team collaboration on web development projects and its a great tool and private. I also agree with drewky in some respects that this would be better taken off the board, but there can be no censorship and expect some negative posts here after what's just happened to lth's.