Member Info for NorthernMagic

but there has been lots of positive news from the company re the processing plant and all the drilling and increased prices for gas and oil then why on earth aren't we getting a trading update ?
Atb,
Northern

Yes, The derisking and analysing to determine a strategy for the overlying reservoirs will be a really big help for the future and also fantastic vote of confidence to get further funding from the EGI. To me though success in the Cane Creek as firstly it proves they can identify and successfully drill for oil there and secondly that will provide funds for further drilling and projects.
Atb,
Northern

since the drilling began. It will not be that long - around the beginning of August when.we should get some rough idea as to how things are going. Probably obvious to say but this drill is so fundamental to earning funds to literally fuel expansion. Here is hoping the results are as the company expects and at that time the oil price will still be substantially higher than they modelled for so all is looking good. It's just a matter of waiting a relatively short time and then the company can put their further growth plans into operation.
Atb,
Northern

My feeling too papduke,
Now this company has got the momentum going ....
Atb,
Northern

underway I would suspect at some stage soon we will get an RNS that doesn't relate to the drilling but that does relate to any further progress made in terms of production revenues and any further news whilst we await the drilling update. I suspect the management at Zephyr will want to show progress is being made in other area whilst the drilling continues. Here's hoping so - they have plenty of opportunities they have been looking at and it wouldn't surprise me if we hear something soon. All imho and please dyor.
Atb,
Northern

Hi razoba44,
Good fine this particular company seems like they are going to get a decent amount of funding and presumably already have a number of projects to start investing in.
I must admit I'm quite pleased with the Atome deals they seem to be picking up - seems like Atome now need to get the funding and listing sorted as soon as possible. That would really help and give President Investor's something to diversify risk with. Sounds a huge market but it is so difficult to predict the future. Here's hoping for some news from Atome soon.
Atb,
Northern

Good points DRichi, I invested in President hoping that Paraguay would be successful and now they are pushing forward with Atome which to me seems exciting news. These are all going to take a while, so further success in the second half and Atone success followed by Paraguay could be very exciting indeed. Patience and a bit more buying at these low prices and fingers crossed.
Atb,
Northern

Yes, very good point elland. It's ok for us to keep talking about the progress being made but to actually see the results in black and white will really show where we are headed - especially with comparison to last year. In fact I was starting to wonder today if the total revenue this year from sales of oil and gas would actually be more than the market cap of the compant!
Time will tell but some further progress in the second half of the year will all helo.
Atb,
Northern

posts could have been what was being posted one, two weeks, a month or a few months ago. President Energy seems a bit like a marmite share at the moment - either you like it or you don't. Some of the frustration is related to the past and current number of shares in issue. Given there has been so much progress on a number of fronts and presumably more flexibility with lower costs, increased revenue and therefore some cash to spend. Comeonvog has listed a number of times the progress in multiple areas. From what I see here two things are needed. Firstly more time to keep adding to the progress made to date but also something I think needs to be done with the elephant in the room - the number of shares in issue. Once these things happen I think we will see real progress in the sp. Maybe in a year's time with continuing progress the sp will hopefully double or more.
Atb,
Northern

they appear to be moving forward on a number of fronts now. Here's hoping the sp can start to kick on from here.
Atb,
Northern

commencement of drilling and hopefully an exciting few months ahead.
Atb,
Northern

Wish we could make the same progress with the sp related to the O and G part of the company that seems to be happening with Atome. Presumably though this news will help the sp.
Atb,
Northern

figures out soon. It's getting a bit tiresome of where the share is trading at the moment given all the potential the company now has and the results it has produced in the last 6 months.
Atb,
Northern

Sounds a large growth area. Hopefully, Atome or whatever the spin off company is named will manage to identify and be involved in a number of large projects. Sounds very promising.
Atb,
Northern

Yes, If they keep getting rid of any negatives and can show good progress in the first half then hopefully we'll get closer to 3p than we are currently near 2p. Then hopefully up and away.
Atb,
Northern

oil and gas business President is proegressing in I think now the added dimention of Atome - even if it is spun off will have a very positive impact on President re progress in the ESG area. All imho and please dyor.
Atb,
Northern

lateral well. There might still be more to organise but maybe by the middle of the month we will hear the spudding news and the favoured drilling team that obtained the last drilling results will get going again. Exciting times..
Atb,
Northern

Looks like the stand off is still continuing bigpat as per blackgold00s post. Hopefully this doesn't affect any other decisions re any of the other drilling. Wouldn't have thought so though now as that is scheduled and expected by both parties but it would be great to get this issue resolved and would move things onwards I feel in terms of the relationship between Aminex and the Tanzanian government. Like lots of things between Aminex and the Tanzanian government(historically anyway) this one seems to have been dragging on for a long time.
Atb,
Northern

Thanks blackgol00,
Much appreciated.

for the final accounts no mention is made of the $7m ish debt owed by the Tanzanian government to Aminex. Does this mean that Aminex is seeing this as a bad debt and have written it off? That would be a good chunk of money to keep Aminex going over the next few years if they were to pay up. Surprised it hasn't been mentioned.
Atb,
Northern