Member Info for NorthernMagic

What I find logically very hard to understand is why it is said that the Tanzanian government are so eager to encourage foreign investment when they drag their feet on these major issues before signing off.

Thinking back some time the Tanzanian government nearly didn't sign off on the Amines and Ara joint venture and Ara might have walked away which forced the government to sign.

It just doesn't make sense to me the disparity between what the Tanzanian government say and what they do. Must drive Ara mad when they are trying to plan drilling.

Anyway - rant over - hopefully we get those upgraded reserve figures soon!

Atb,

Northern

The significance of the recent developments 're control moving to America and a possible 100 million dollars capital raise. This sounds like it will move things up to a different level but am not sure about timings. Thanks to the recent posters for sharing the information. Exciting times ahead.

Atb,

Northern

're the Slawson wells and possibly any other news?

Atb,

Northern

Would be absolutely delighted if we had good news in the first half of next year. Never sure what time period a target price relates to if it could get to 36/37p by the middle of next year that would be great news. I assume if they can build consistent results that is what will turn things around.

Atb,

Northern

I'll go for 3tcf. People thought we would be starting drilling this month, I thought possibly the second month of 2024 but am now starting to think we will be in Q2 2024 before we get the drilling started. The Tanzanians don't help themselves by dragging their feet. I've learned this from past experience it's not what the Tanzanians say it 's what they do that really counts and like a few posters have said on here(also proved by experience here) the longer there is no news we see a corresponding drift down in price. There is talk of significant progress on all fronts but that's just talk would be great to see some action.

Atb,

Northern

You can have your opinion Setanta1 I'll stick with mine. I'm happy to wait and see on this one. If people want to shares that's up to them - that's what a market is all about. One thing I do agree with you on is news soon would be useful but I cannot see them pulling anything out of the hat any time soon. I'm happy to wait others might not be so patient but that is up to them

Atb,

Northern

The road. The company have a great resource and 100% of it. They have non-op assets to reduce the debt.

The concern I always had is the fact that if they are a bit capital constrained and they don't want to take on too much debt then things will take longer than anticipated. Maybe that's why others have sold out. Personally because of the management's financial interest in the company I am sure they will want to turn things around in 2024 for what has not been a very eventful 2023(in terms of Production that is).

We also have the production results to come from the 6 new non-op wells before not too long as well.

Atb,

Northern

Of an increase in the sp. Maybe people are waiting until they hear the results before they commit their money.

Atb,

Northern

To be reported following 30 days of stabilised production, based on the recent RNS.

So, presumably we will get news of this the week after next as production commenced on 1st November. Not long to wait for this news then. Hopefully, some further positive updates before not too long as well.

Atb,

Northern

At the end of the first quarter next year? Oddly, I'm pretty sure I said exactly the same last year!

Fingers crossed for a better year next year.

Atb,

Northern

They like us must be getting very frustrated.

Atb,

Northern

I am just hoping we get some news during December to give us LTHs some hope for drilling starting in the first quarter next year. First it was drilling was going to start in October, then December!

It's looking like my own guess/estimate of the drilling starting in the second month next year is now starting to look optimistic. You try to stay optimistic with this share but a realistic approach has led me to believe it's will only be true when it happens.

Never can be sure what is happening behind the scenes but I would be very surprised if Ara are not really pushing to get started

The moment in terms of its sp and you were looking at the company as a potential investor and what might happen next year in terms of progress and possible production would you invest?

Atb,

Northern

Seem to go up and down as the sp goes up and down. You would have thought that as Ara have got closer to drilling the sp would have steadied at a higher price then moved up as we get closer to drilling. Maybe I should have learned from last experience here - the share always seems to drift down on lack of news. Hope more news arrives soon and Ara can move towards drilling . They must be raring to get started!

Atb,

Northern

Will come to be achieved and I suppose more importantly when those numbers might be achieved. I have always thought though that Zephyr would ratchet up production reinvest then repeat the process. So, although currently constrained this year because of lack of some production once they get a decent production flowing then we will I think see real progress which will then ramp up quickly. All imho.

Atb,

Northern

Pretty much my opinion on this company too. This year seems to have been a little wasted with the problems with the 36-2 well but good that we have the extra non-op wells now producing. I'm hoping th next couple of years will be success built on success. Time will tell.

Atb,

Northern

Very encouraging, especially that last sentence.

Atb,

Northern

Fingers crossed newtofo

Atb,

Northern

What looked like a very encouraging RNS there was so little movement in the sp. Is it likely to move much higher when the rest results - presuming they are quite good come in?

Atb,

Northern

Great news and thanks for clarifying that.

Atb,

Northern