Member Info for NoEasy

Its bang on target at the moment. Dewatering is going to plan, the flow of water is reducing and they are expecting to report on increased pressure from gas release in the next few weeks. We were told to expect a gas flow result within Q2.

I'm looking forward to an increase in reserves and finance to be done in fair short order.

'The other side of that is that Art can have whatever contingency he wants but unfortunately its NOT his sole call.'

bonum, I've often thought it may come to a pay-off just to get the bug out of the system, seen it before elsewhere and announced as exactly that. That is despite the company saying they will not pay a penny. There may just come a tipping point whereby it is financially better to do so.

The other side of that is that Art can have whatever contingency he wants but unfortunately its his sole call. I can see that Shoreline won't have any issues whatsoever in waiting to see this through to the end. They won't be concerned about our position either. Kola isn't likely to be rolling over and probably won't want to set a precedent to others that it is worth trying their hand at his expense.

How can they do that Harry when anybody taking an interest in OPL226 has to be approved by the Minister. You expecting them to be given the nod on the third occasion having been categorically dismissed twice?

They won't know if they have won tomorrow,the Judge reserves his/her decision for a month?

For the sake of absolute clarity it works like this; Both sides give their arguments, the judge listens and asks any questions they feel are necessary and then everyone goes their separate way to await the decision. There is no official or unofficial decision on the day.

'Our Nigerian QC expects the Judge to rule in our favour but reserve decision for a month because that's what they do.'

Let's start listening HM. At least a month before we hear anything and that is only for the jurisdiction issue to be decided. The company cannot update until at least then.

Jiving everything you outline in your post and earlier post are for me valid. We are in the position of arriving at our own conclusions based on what we know which for an accurate assessment isn't quite enough. Throw in the bit Brady talks about re relying upon Art's utterances and I can see why posters are not sure. But as I've mentioned before I do believe circumstance has rendered Art's intentions on occasions void and that those circumstances, such as those examples outlined by Dunc, have been outside of his control. He has of course had to take the heat for that. That doesn't mean I believe everything he say's but certainly a good portion I do. I just wonder why he doesn't communicate when things change at his earliest opportunity rather than many months later. That lack of clear communication is by far my biggest criticism of Art's running of this company. My greatest joy is his and his teams ability to successfully complete an enhanced/accelerated field development plan to the satisfaction of the authorities. We have made significant progress over the last nine months with the Trafigura term sheet, PSC extension and FDP and that is not the sign of a failing company. That's the balance against the time taken, extra dilution incurred and the background noise (in my opinion) of the Agamore issue.

Sounds like I could break into a bit of gospel here......'We shall overcome, We shall overcome..'

Hey Dunc, I think I recall you saying you would eat your shoe if Agamore was holding things up. That still on in case we are both wrong?

'I strongly feel we are going to get completely surprised soon. I just don’t know in which direction.'

Best one line summing up of things as they stand and gave me a good belly laugh to boot. Cheers Brady.

I am not overly concerned about Agamore having a case, I really didn't think they had any chance before I read the email today and I am more than happily convinced that is indeed the case now.

However should I be concerned not about the merits of the case but more that there is a case? Does it prevent the DPR/NNPC approvals? No is the answer because we already have approvals and we were told so in January, just the small matter of a presidential election holding an announcement back.

Similarly should I be concerned about the case preventing activity towards an SPA. No is the answer because we were told it wasn't in posts outlining emails Rift/Jay received way back in Sept/Oct (ish).

I can see a pattern emerging here, we are being told but just aren't listening. Ahem! Off to hang up my QB jersey.

I'm hoping you are going to be pleasantly surprised with the SP Bts.

I'm not sure this stock is widely known. I say that because I have friends and family who trade across the markets and they didn't really have an inkling about TLOU until I mentioned it to them ('inkling' no idea where that came from. Pretty sure its the first time I've ever used it in a sentence!). I think things have and are changing and they warrant and I expect will succeed in picking up significant new investors as the rapid growth nature of this company dawns. Its only just dawning on me as I've been preoccupied with the RFP and didn't want to think too far ahead. TG has repeatedly used 'rapid growth' and I am only now allowing myself to be drawn into that as a reality. Unlike TomC who is rightfully treading carefully I've also let myself go a bit on the gas flows. The RFP 10MW is the game changer for me. Beyond that I am just seeing bright lights......... all over Botswana.

I hope you get your target but would really like to see you wake up one morning and have surpassed it.

NE

'...I don't see it anymore just a spike then a gradual retrace.'

Understand where you are coming from Bts but I must say that hasn't been happening here recently. Pull backs yes, spikes yes, but always moving upwards since our Dec low. I would have been worried if had fallen back to or below 4p but its doubled since Dec and has done so in a fairly gentle way, not a brash kicking the doors down sort of way. I think the price action here is one of rude health and we have a couple more really transformational pieces of news for the company still to come, hopefully in the next five weeks or so.

ATB NE

'.....to issue a clear & unambiguous statement that the Agamore case has no effect on the NNPC/DPR approvals process.'

I would just add to that and ask that such a statement should include whether the Agamore case is seen as a commercial dispute and whether it is impacting upon the securing of the finance.

Yes Jiving entirely my thoughts as well. How ironic that Art himself creates quarterbacks then complains about them being in existence.

Art if I had a message for you it would be stop being so arrogant with your own shareholders and start communicating in a way that suits us not just you.

Barnsey, Big shout out for posting that, it ties posts in nicely now and answers not a few questions I had.

Agreed bonum. Nothing worse than looking back on a thread to find the piece everyone is talking about only to find it isn't even posted.

'Tlou considers the first 10MW as a pilot power generation project. Revenues from this project could facilitate rapid future expansion, which could be enormous based on the Contingent Gas Resources already in place at Tlou's project acreage.'

So where are we now compared to the start of the year ?

Operational Funding - Secured. Funded for next 12 months.

New Prospecting Licence - Secured (Boomslang). Now have 9300Km2 under licence.

Downstream Environmental Approval - Secured. Upstream approval already in place.

RFP Result - Secured. 10MW staged development. This is the all important pathway towards a Power Purchase Agreement.

Gas Flow Results - Imminent. Expected next few weeks.

Project Financing - Proceeding. Expected Q2

The Company's discussions with groups in Europe, China and the USA with interests in developing Tlou's CBM gas reserves is ongoing.

He knows what he is doing this fella and has a great team around him that much is obvious.

Good post Brad.

Olda I was thinking about the flow rate/dewatering today. Definite juxstaposition here for me. On the one hand I want the flow rates in the next six weeks as per the expectation from the company but equally I understand that the longer the dewatering the better the gas flow rate is likely to be.

Not sure what clarity we are going to get on the RFP 'negotiation' stage we have apparently moved into but if that is going to add some time onto the RFP result then I for one don't mind an extended dewatering period to coincide. Been here long enough that a few months extra won't matter to what is shaping up to be a stock that meets expectations.

Welcome back rift.