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Agreed Brad. It was off topic but in this void it made me smile this morning as well as letting me know not to throw mine in the drier. If we were to just keep 'on-topic' nothing would be said here.

' it certainly was a eye opener lol'. Subtle, but had a loud chuckle at that one Bolton. Hope you are feeling better for it and don't have to have any more of those.

Cheers Jiving. I have similar views in that the lack of sign off may well come back to the same issue that is holding everything else up.

Additionally I hadn't picked up on a possible link between our PB contribution and what it could say for our final percentage of interest in the field going forward. It's highly likely that some of our share in OPL226 (or the NOA development) will be handed over in return for funding and if we are indeed looking at a reduction to around 25% then, all things considered, that would be a realistic figure given the investment required.

We have a high quality oil appraisal and development asset and yet it isn't actually ours yet, well not as far as the Nigerian government are concerned. It is now over three years since we requested ministerial approval for the acquisition of EEPL shares.

Anybody any thoughts as to why they haven't authorised our acquisition yet have shown support by conditionally (subject to payment of performance bond) extending the PSC and encouraging us to submit an enhanced field development plan?

The MM's don't even know this stock exists!

P.s. How do you manage to post a day ahead of the mortal world Rift?

'.....once the PPA is done, we would be able to supply Botswana Power Corporation with 100MW of electricity by next year,..'

That's a hell of a lot of water wheels!

Does 'purdah' hold up any government decision/publicly declared support at this time?

Apologies if it has already been mentioned.

Pretty sure the only entities that can sort this are the three amigos themselves, Shoreline, COPL and Essar Mauritius (part of Essar Global Fund Ltd).

We are undoubtedly in the weakest position of the three particularly as Essar Global Fund Ltd have reinvented themselves. We cannot go on forever with little or no cash, perhaps that is the reason they are holding out, if indeed they are, from progressing this project at this stage.

It doesn't take a great leap of imagination to see they may see an opening here. Having coughed up some $67m initially for the licence and a seismic campaign but yet now being a minority stakeholder while little old COPL (Mcap £2m) are sat with double their holding in OPL 226. All down to the situation that Essar found themselves in at that time. However the tables have turned financially with COPL now on its knees and Essar Global reporting $13 billion in turnover as of the 16th Oct 2019.

Perhaps the offer to buy them out in summer 2018 didn't go down too well particularly as it was just after that they gave us a default notice.

Sub that's going back some!

If memory serves the only connection Rosneft and Trafigura have with 'Essar' is that they bought Essar Oil from the Essar Group who were in a distressed state money wise with their steel empire also in dire straits. Once Rosneft bought Essar Oil which I think was mainly processing plants (?) they had no further dealings with the remaining Essar group of which Essar Exploration & Production Ltd Mauritius (EEPLM) is a part (EEPLM has the 20% OPL 226). Don'y know if that makes sense but in essence Rosneft and Trafigura are a red herring in connection with our present day Essar Mauritius.

Eassar Mauritius are not incorporated with The Commercial Bank of Mauritius who are doing our back end finance.

At what point does the lack of movement in this project cause the government to revoke the oil prospecting licence (OPL)?

We now have 11 months left of the conditionally extended PSC (the contract) for OPL226. That contract has not thus far been honoured with past failures to meet the deadlines of drilling one well by 2013, extended with a deadline of 2017 and now getting fairly close to a third failure if the PSC isn't ratified through a PB being secured and a drill down, If an agreement to drill isn't reached within say the next six months thus allowing five months to actually sign off on financing, get a rig to the site and the drill down,

I say this from not just from a negative point of view as far as COPL are concerned but also there could be a positive outcome from such a course of action if it was threatened. Such a revocation would indeed take the legs from under Essar Mauritius, Shoreline and COPL. We know that the government previously attempted to withdraw the licence for OPL226 when it was under the sole control of Essar. Additionally the Department of Petroleum Resources (DPR) revoked five Oil Mining Licences (OML) and one Oil Prospecting Licence (OPL) in June this year so it is not a practise that is alien to the government.

But what the threat of such action could do is firmly concentrate the minds of those in control of Essar Mauritius if, as suspected, they are exercising a veto on moving forward. They could run the risk of ending up with nothing.

Genuinely fascinated by this project.

That's it, that's my thought for today.

A few points. Kissei Pharmaceuticals are a public listed company in Japan. The article was not about multiple potential licensees in Japan and Asia, Kissei was specifically (the only) company mentioned in the article. If they are not in discussions now then they could certainly be a potential partner in the future and Dan would be well aware of that. On that point alone I would expect them and their shareholders to be none to happy if the Times article was not right and Dan did nothing to correct it.

Secondly, for me, if the article was not correct then Dan had three options; either ignore it completely, confirm it or put out a general announcement neither confirming nor denying it. He has taken the latter course but in doing so he cannot mislead. Ommission can be a form of misleading. If the article was untrue and NFX wasn't in talks with Kissei he would have had to have said so once he took the option of putting any announcement out. He could not leave it hanging in the air as though it may be true especially in light of the SP reaction.

It seems very likely to me that NFX is in discussion with Kissei .

I guess that whoever makes it in the election will have the same issues to juggle with not least the economy. Common sense tells you that a nascent industry capable of supporting the economy in many ways such as CBM electricity generation should be hugely welcomed. Common sense also tells me that common sense isn't always applied so I will have to wait and see what signals emerge after the election.

That's the beauty of this project.

Getting it right as far as the first 2MW is concerned and then rapid expansion to 10MW, 50MW and then 100MW is TG's view and
I believe he will achieve that and the shareholder benefits that come with it.

I also expect equity and debt in whatever ratio TG can best negotiate. 50/50 wouldn't necessarily be a surprise.

For me its about establishing confidence shareminator. We lost that with the problems we had last rainy season (our first in production) and failed to get anywhere near our target as a result. That has now swung round completely and I think we will see market confidence growing as a result.

Nothing more to ask for regarding results. Well done to all the team, looks very much like we will achieve our annual target. That is a strong signal and we will hopefully be supporting it soon with an LOM extension.

All re solutions duly passed.

A presentation given by Tlou Managing Director, Anthony Gilby, is available on the Company's website http://tlouenergy.com/presentations

Well I'm sure AM didn't plan on us being where we are now... but we are. The best company leaders can hit almost rock bottom, rebuild and come out stronger just when many thought the writing was on the wall. I don't know how this is going to pan out but it's pointless just being a good COO for Shorecan if he cannot deliver as a CEO for his COPL shareholders.

Attack whatever is holding us back Art, I would rather go down fighting than in a series of whimpers.

Absolutely Bolton. Things do change and what might have been pertinent at the AGM might not be now.

Bottom line is we remain very much in the dark on issues that AM himself has raised as being imminent such as the SPA, the PB and other things such as the consent for acquisition of the EEPL shares, consent that Cathy stated were only awaiting finalisation of the February elections. These issues have definitely not progressed in line with expectations and not merely by weeks or a few months.

Really would give us all a lift to get a positive announcement from the company. Failing that I would accept a negative one if it means I know what is causing the delay(s).