Member Info for NoEasy

Mmmm that one has got me stumped Dunc:-)

Yep they are compulsory Dunc under ESMA rules. A couple of days to four days leeway before notification.

I don't think a notification was required at all, either for the purchase or disposal if one or the other had/has indeed taken place. My understanding is that the threshold for investment managers is 5% not 3%. Rosseau is an asset management company. Also noted that the holding they did allegedly have just happened to be at 4.99%. I say allegedly because no-one knows apart from them if they were being truthful about their holding at that time.

You want to ramp your other share on here one more time Bonum? We have been courteous in not picking you up on it twice already in the hope you would desist. Proves the idiom that you give someone an inch they will take a mile.

Still firmly of the belief the tender will be shared and it will be a good day for us.

Access to the grid is our objective from the tender. The company know they can achieve that with a fraction of the tender awarded to them.

What has happened here is that we have also taken the legs from anyone hoping to dampen the sentiment once the expected good news starts to arrive here.

Happy with this step by the company.

He also has some 30 million in stock options, but by my reckoning only 16 million of those can reasonably be expected to be exercised at a price of 0.86p. He would have to get the SP up to 5.7p to get the next tranche of 11 million and above that for the rest.

His percentage holding in the company has been reducing with each placing. Thanks for the current position Jiving.

Delighted to focus on the opportunity. I canny control the RFP, gas flows, environmental permit, no point sweating it. Out and out dominant CBM producer for Botswana is the prize here.

Come on TG and the team we'll always be together however far it seems. Together in electric dreams.

I normally steer clear of such observations but have been chuckling to myself all morning.

Harry I don't know if you are already aware of this but your letter 'a' is always back to front when I read your posts. Check your keyboard might be a problem with your typeface.

K200 its also happening to your posts so worth checking as well.

Good post Dunc.

Berta firstly thanks for re-posting that link, I think it is important that investors are aware of the previous failures associated with this CEO and that his own version of it being the banks fault that Oilexco floundered is balanced out. This is what this board is all about.

Has he learned from Oileco's demise is the question. There are some key pointers that he has in some areas . His next venture was indeed with a partner (Exxon) who could keep his super confidence in check. Likewise that is true I very much suspect with Shoreline. He won't be given free reign to do a drilling campaign based upon excessive debt.

The G&A though is very much open to interpretation. There have been calls on here for him to reduce the general and administrative expenses to allow more room between raises i.e. conserve cash. He hasn't done so and has made no effort to do so. Is that a warning signal repeating itself? I don't know enough about what he was expecting to achieve and when and also whether certain roles could have been ditched and brought back in when needed. Would that have been cost effective and if so how much would have been saved?

Investors have learned the lesson though. No over excitement on their part, no hint of 'this is too good to be true' and certainly plenty of questions being asked of the CEO.

For me your post was well timed as a reminder to keep checking the points raised. That is so even when we are producing with OPL226 as I believe we will be doing and hopefully in the near(ish) term.

Shorecan = SHOREline/CANadian overseas.

Not quite Harry.

COPL own 50% of Shorecan and Shoreline have the other 50%. The name 'Shorecan is an amalgamation of both names if that helps.

Together they own 80% of Essar Nigeria which owns 100% of OPL226. Essar Mauritius own the other 20% of Essar Nigeria.

Yes Dunc, he's said it more than once and I wouldn't be surprised if the bond/PSC extension is confirmed at the same time as the finance.

That is the top and bottom of why I am invested Jiving. It is the 'bureaucracy' that is so damn difficult to overcome in Nigeria. It's a massive struggle as we are finding out but get over that then it is a completely different ball game we are playing. I think we have made some great strides forward if truth be told.

Did you mention this whole process was like ordering a pizza!

https://www.independent.co.uk/news/world/africa/nigerians-order-pizza-london-british-airways-audu-ogbeh-a8850686.html

And again he is definitely looking at funding alternatives not just an equity based raise. It's coming, its definitely coming whatever it is, that's clear from the number of interviews he's doing. It will be very close to these interviews otherwise it becomes worthless doing these now as they become old hat. Get it out the way Arthur.

Thanks for that Mikebassetts. And thanks to Arthur for clearing some points up. Good to get a better idea of where we are with with the service provider and it seemed the rig/contractors are not necessarily one and the same as the service provider.

Really interesting that with the increase in drilling the NNPC could have settled for a much larger bond than the $7m that they did. That is a hugely positive sign of both the relationship between our negotiators (Shoreline) and the government agency and the ability of our negotiators.

If it is a placing coming then it is not unreasonable to see that figure or even lower as the discounted placing price to our present SP.

But we don't know if it is a placing that is coming or alternatively commercial debt funding or a mixture of debt/equity. Whatever it is we (the market) are assuming the worst. I think Opulentia is right we have priced in a placing but it is one they may not actually come.

On the question of timing there's no dodging the need for cash to keep our team working so for me if it has to happen before news then so be it. Get it out of the way, get us funded and let's turn that page. It's a negative drag on the sentiment here and given that this stock is primarily made up of retail investors then sentiment needs to change with a focus on expected positive news rather than a placing.