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When the nutjobs of the board suggested placing, placing, placing....I don't think any LTH disagreed, it was clear we had limited funding and certainly not for a 3rd well....aggressively arguing the obvious is hard to comprehend.
Yet correct me if I'm wrong, regardless of a roaring success of MOU2 or MOU1, a 3rd well is a REQUIRMENT to even contemplate approaching a sale/farm down or announcing a certain success?
The RNS reads to me that we are pushing on for a 3rd well whilst simultaneously attending to the progress of MOU1 & 2.....fully funded in an uncertain banking environment....therefore closer to a potential sale or farmdown....what more do you want?
Will there be a placing in the future....more than likely YES.....fairly obvious
Focus seems to be on the Shannon terminal....not much talk on Irish forums or news about Magmell...
https://m.independent.ie/irish-news/billionaire-gas-backer-secured-meeting-with-leo-varadkar-about-shannon-project-after-eamon-ryan-turned-him-down-41940903.html
The Benny Hill Theme should be played on repeat when viewing this board and the carry on from our 'management' team.....how could they not spot this term in their dealings.....why do a giveaway deal to a 3rd party knowing that the deal is so bad it would be taken up by the unintended purchaser......it stinks, either it was orchestrated or just plain stup1d
Ireland's politicans might take care to have a look at their own history and see what happens when you get exposed to a single point of failure (in the current case, energy supply).
Last time they made that mistake was when the whole country in the early/mid19th century made itself almost entirely dependent on potatoes, as a food source and an income source (so, effectively, it was risk factors squared). And then the potato blight hit - and wiped out a significant part of the population and send many others emigrating to the US.
This is offensive Sefton, to me as an Irish person and I'm sure many other investors reading this board, it all well and good giving us your extended politically commentaries but you have changed history to fit your narrative....which unfortunately this time is offensive, a remedy would be delete your post please
Been here years and years........and I've just bought a tiny bit more, the H1 valuation is almost half our market cap? and some form of drilling plans before the end of the year on Ruvuma should let me exit at some point with some dignity.....I've a 3.1P average from years of averaging down.....can't see this being very fruitful.......for any long time suffers check out PRD, really sensible BB with a lot of research and has many assets to ACTUALLY bring it to mid cap status, that statement from SCIR is just laughable, how could anyone take them seriously with little to no ability to raise capital aside from existing assets and expect mid cap status....irresponsible
It's a tough pill to swallow but sometimes doing nothing is doing something, any deal would have killed the company stone dead the way things have developed. All of the 15 deals must now be revisited, re-costed dramatically and renegotiated. We still have similar levels of cash and will get much more bang for our buck, the idea behind an asset purchase was receive an income to fund Ruvuma.....in short the deal falling through was great news in hindsight and now everything we were looking at is now in the bargaian basement section
This was covered on the investors call this morning, I dont want to misquote but the response to that exact question by a private investor to our new CEO was that we are, as per presentation, acquiring an interest in a multitude of wells, the seller is still operating the wells (noted as an asterix in the presentation) and maintains an interest in these wells. the decision to sell was to maintain dividends to there shareholders and rationalize their portfolio based on their objectives. Again, I am paraphrasing on memory.
I wondering what the placing cost will be for us LTH! Personally I am far more comfortable with this direction, we have an income !! and gives us a very strong hand in negotiations around Ruvuma in any scenario
I'll be there.....
Let’s call this out, not everyone here or looking at this forum is investing using sterling, the joke of brexit is presenting me and I’m sure othe investors opportunities given the yo yo exchange rate reasons to or not to invest.....there is not only political considerations to be had in Tanzania but also in the UK and Europe.
Another point is that everyone on AIM is a speculative investor, to call anyone wrong or right is just odd because you clearly don’t have the fundamentals, it’s your money DYOR
Speculation is supposed to be kinda fun, funny money, to be coming out with only one agenda to warn someone from a stock is just odd for the aforementioned reason, we know what we are doing.
Solo, in my opinion,has significant medium and long term prospects, I don’t care about the short term as should most investors that’s what investing is, trading and speculation is worrying about intra day month values
What’s the point stressing , if the assets are right wait and if your worried about putting food on the table or others purringfood on the table give up and do one, unless your trading habits have done for you already
Assets more than Valuation .... duh
This post I suppose is to everyone but mostly to the keyboard warrior...... see you in a few years in you can keep you your tripe that long
Looking at the cost projections for Solo;
$5m to Drill and Test CH1 (could be gone following a deal on results)
$2m for 3D Seismic Test of the field
$1m for Early Production if the TDPC get onboard
$8m potentially to get producing Revenue
The company is prepared/has funding to get to that point, if the TDPC don’t want to get involved in an EPS we will see more dilution, from what level is determined by the drill results. All indications from the board would be that the company will seek an appropriate disposal of the asset before it gets that far.
Roll on the license and roll on the drill!
Let's get spuding!!!
If we look back at any positive news from HH it has never been reflected in our share price or the euphoria around drilling/results.....at least now we can benefit from the euphoria and results....we have a liquid asset for cashcalls around ruvuma and if ukog is a takeover target we'll get the uplifted offer rather than being pushed aside a minor player....we need to show strength in our position when the EGM at aminex passes and I feel this is what the BOD is doing
Good interview
Good luck and thank you to the party representing our interests tomorrow, I appreciate the time and effort you are making on our behalf! Good luck to all and Croatia!