Member Info for mikemike

Excellent opportunity for those who are considering adding more. They can if they bought higher now bring down their average. DW could have gone to the spivs and bucket shops. This time he has listened and offered stakeholders an opportunity.

Raising 7m£ plus to unlock billions makes sense. Why take the risks if not needed.

I will be adding more with this offer instead of doing a birthday top up this week. I will do it next week.

''128064 thinks''

Whoaaa stop there!! that is full on oxymoronic and suffix appropriate

Bromb

remember how bad those balance sheets were looking 18 months ago and some still predicting below 25$pb.

BRB1 not BCL apologies

BCL

People are focused on the timetable given by the MD, not by a bunch of invested second guessers like us or last rate guessers who are not invested and as clueless now as the day they were born.

Do you have any data on how long a farm out process will run before a decision is made to progress or with draw?

One thing for sure DW will bespeaking to more than one interested party at a time.

What we do not know is who and at what level

I suspect when the data room door is to closed we will get an interest on exclusivity if more time is needed.

what I do not know is how this is progressed if more than one shows their hand? does this have to be a public disclosure for wanting more time and a shared fee etc?

BRB1

Anything is possible all options are on deck. Including to hold, or sell, or buy.

Jiddy et al

why do you waste your time bandying words with a witless fool.?

Ignore is a great place for him

''We don't hear very much if anything from anybody else on the BoD.''

Do not worry

Swifty and low numbers will be fighting over it

BCL

I understand where you are coming from

Perhaps LC will wait until Tenders have been opened to review options with SEPCO?

I do not see Sepco walking away from Kibo

SEPCO will be as patient as it takes. They know Kibo are about a lot more than MCPP

Jh

I agree too many variable that we do not know about and how that is built into creaming the curve. If royalties are paid that means a tidy dividend that may encourage others to buy in. I see %$PB as an average price and not the initial price which will be much lower. I would expect a deal to be done on the average price.

PB believed that all sealed traps are filled to spill. I think the next three years are going to be highly interesting.

Mizman i cannot see LC or any other CEO speaking to a host clients they hope to do business with in that manner. One way of getting a suitable response of w

''When we are sorted, you will be the last to know, and please do not call us. As we have no intent on calling you.''

Too much has been spent to have it wasted. Yes tactical planning re other projects may take over.

I am expecting ML for MCIPP, how much coal can be sold there?

May even get an SML for MCPP and start to sell coal.

Just look at the size of those two projects for coal alone. covers costs and more, so no reason for CR.

Just it may take a lot longer than I am hoping for.

All part of ''in country risk'' in that part of the world

I suppose the other key variable is

How many possible bidders cannot bid as TG is not going to accept the BITS arbitration process?

Share holders look at Oxus and Churchill et al and they demand no investment in non treaty countries.

Then again this may have no impact at all

''Straight reply was no because of too many variables but after adding and discounting various items he came to a figure of $5.00 per barrel in the ground.''

The key variable will be the price escalator build in as a part of 'creaming the curve.' the price will start off low and escalate as the bookable commercial reserve is measured.

In addition I recall in the early days of the premium that was being discussed as TAPS needed high grade API, circa 7$ pb when POO was on its knees.

Oil search got a great discounted deal for their Armstrong contract. I wonder how much Oil search would have to pay today for such a deal?

Once the wells start flowing the agreed escalator will kick in 1.75BB of oil is a lot if it gets proved up.

Yes thanks you have, so that makes it Friday, pay day how could i have forgotten!!:)

Jh if BE is 40$ based on P50 at the moment assume ANS is 80$ so profit is 40$ x 30%= 12$ pb on 1.75BB

Seems very high and I suspect the profit figure despite it being cheaper than the Shale last quoted at 39$ BE for P50 may have to be adjusted down if industry costs have risen.

So what I have not considered?

Bits

he is here to save you !!

CC

great response thanks.

This suggest sometime next year for a deal?

''opened in Public on October 16th. '' Apologies October 18th

and I still do not know why this date!!

Xplore

The tenders are to be submitted by October 15th and opened in Public on October 16th. Anyone else will have to be sitting on coal leases with a license issued and be pretty much advanced in a single geographic location. As LC has either not heard or shared Tanesco answer to his ''do we have to tender'' question. I am assuming the worst and we have to go through the process.

I can see the possibility of a tender process not being completed if Tanesco decides not enough bidders etc.

That would push the dates out horribly.

I am now not sure where I got those two dates for October from!!