Member Info for Novykluk

Does anyone have current and reliable information as to the timing of "first oil" from Wressle?
In file notes I made in early August, I noted the following;
* "First oil" is expected now from the Wressle discovery in October 2020. D.Bramhill stated that in a recent interview.
Aside: Unfortunately I have no reference for that interview. But I think it was one recorded with "Stephanie" from the Casiopea PR Co.
Based on the above, I'm concluding we should see an RNS in the next four weeks max. announcing "First Oil" there.

Any more recent info.?

Wolf, a couple of points;
1) I am not saying it won't be economically viable for Circum to IPO now. I commented that I thought I read ACKER had Posted that a while ago.
2) Most of us will have noted the sad death toll to which you refer. But the relevant fact is not the number of deaths per se, but the effect that the subsequent lock downs around the world have had on the global economy!
Most participants on here will have noted the widely reported expectation that there will be a world wide recession. In that environment it is logical that companies will want to minimise their exposure to debt and business risks. Then logically IPO's are less likely.
I would add though, I am not saying I think the world economy is heading for Armageddon. Though it seems it is the negative economic impact on individual governments the lock downs have had, and then the measures they subsequently take, which will have the biggest influence on how businesses react during the next 12-18 months.

Thank you Donald!

ACKER, re; "Why not defer the SGM until AFTER the Circum news."
You appear to be a pretty intelligent chap and knowledgeable too. So please note my comment is made with respect and I have no intention (or the time) to get in to a ping pong of confrontational messages. That's not my intention!
If you had Posted, "Why not defer the SGM until the EPO is announced?" (because it's being said to be relatively close......though no one knows if that's true or not), that would seem logical to me. But waiting for Circum to be announced, seems to me to be very uncertain and quite possibly much further out in time than the EPO......at least IMHO!
I think I read a few days ago, you were suggesting that to get a IPO away (i.e. Circum) in this climate, was very questionable and unlikely! It seems to me that given that PREM has debt payments falling due soon, there is an urgent need to deal with those to remove the risk of a payment default and the horrendous consequences which could follow! So if the EPO is so close, I am hoping that will land and that the attendant fillip that would give the share price, will enable the MNH equity to be acquired with a "fraction" of the shares which would otherwise be required.
Waiting for Circum I doubt will "cut it" 'cos I think that is likely to be too far away.
Also a separate question, if you are invested in Prem, then presumably your interest is to increase the value of your holding. So even though the majority of us SH's detest being put in the position GR has put us in again, why would any SH vote no to the resolutions and risk Prem going in the direction of financial collapse?
NK.

I am trying to find out what description of technical well testing and subsequent "certification" of for the value is necessary to enable a company's oil (or gas) discovery to be included in the Balance Sheet.
Presumable just as some form of JORC or SAMOREC compliant sampling is required in mining, there is an equivalent standard for the O&G industry?
Can you point me in the right direction please, so that I can do further "research".

Thank you in anticipation to anyone who can advise.
NK

ACKER in your view, after SA end their lock down, what are you believing or suggesting will happen to manganese prices?
It's seems logical there will be some price pull back. But how many of the aged Manganese mines there will be too marginal to re-start? And what do you reckon that will do to the price?
These is also a view (you may not accept it), that MNH was profitable at those very low manganese prices BEFORE the lock down.

ACKER........Food for thought!
Thank you.
NK

ACKER,
I think all of your points are valid. I well recall speaking with George personally about TCT and hearing what a fantastic opportunity that was!
For me though the difference now with MNH, is the credibility which (whilst I don't know him personally) Neil Herbert has, but which unfortunately George doesn't have!
That's why I think through SH's intervention, George's wish to invest in Honey Badger was quashed. Quite rightly in my view.
Initially that was my view about MNH.......Ahy ahy.......here we go again. I do not claim to be an expert on MNH! But as a very interested outsider who has money at stake, I had concluded MNH will be a decent investment for PREM. Then when I listened to NH's comments in the Pod cast.......and he's a very savvy operator with far more personal credibility than George, then I'm very comfortable now with MNH!
I also think that as I expect it (MNH) to be cash generative, it may well provide PREM's funding to get ZULU to DFS without having to forego a big chunk of the asset value to a "rich uncle" i.e. JV partner, at the pre-development stage. Post DFS is quite another situation, of course. But if proved-up by the DFS, Zulu will be a totally different animal then as we all on here know!
Does this make sense to you?
NK

Some Posters on have expressed cynicism and doubt as to the value of MNH as an investment for PREM. Given George Roach's record and historical under performance, I can understand that doubt.
In trying to reach my own judgement and understanding of whether MNH is a decent investment or not, I came across a recorded Pod cast, in which Andrew Monk the CEO of VSA Capital, interviews Neil Herbert of Helium One.
All serious holders of Prem will I expect be well aware of Neil Herbert's outstanding track record and the fact that he's also an NED of PREM.
Hearing NH's comments about MNH in the audio at 9:47 mins in (together with outline numbers prepared by one of my associates), it has helped me conclude that MNH is very likely to be a very good investment for Prem. That is despite my initial scepticism!
My take aways from the Pod cast are simple:
* I knew Neil Herbert is reputed to have a very good track-record. But I didn't realise it's that good!!!He's clearly a very competent and astute operator!!
* His judgement is that MNH (which has a Chines customer for its manganese) "Looks to be a bit of a winner". "PREM will do very well with that acquisition"!
* Not truly a take-away from the Pod cast........but I postulate whether when the currently anticipated corporate actions have taken place with PREM, and George Roach steps down, will Neil Herbert take over as Chairman of PREM?

Here's the link to that video:
https://m.soundcloud.com/user-596578261/vsa-capital-podcast-episode-26-part-2-with-neil-herbert-chairman-of-helium-one

GLTA genuine LTH's.
NK

Charlie1984
Re: Your 8.30am Post.........Excellent insights! Many thanks!!
NK

Re: "Novy you are apologising to acker one of the most conceited and pompous posters on LSE."
Thank you for helping me out with some orientation here :-))!!
I'm not intending to be nit picking with your well meaning message. But I certainly didn't read (or intend my reply to ACKER) to be an "apology"!!
Despite my rather high handed replies to YNWA91, I don't actually like conceit!! In my reply to ACKER I was acknowledging the style I'd displayed.......which I don't really like! And my ego is not too big to admit to some of my failings!
Maybe it's just semantics, but I feel I was acknowledging one of my several failings, not apolgising.
But I do appreciate your advice, thank you!

Thank you for your mature and courteous reply!! I too have no respect for extreme ramping or deramping Posts if they have no substance or logic for the viewpoint being expressed!! Perhaps you and I are "becoming aligned" :-))!
Whilst it's quite valid to say people are entitled to express their views on a BB like this, if they do so......like in the example you quoted, if there's no reasoning for that opinion, it's also quite likely that people like you and I will dismiss the assertion/opinion as worthless.
That's why I hardly ever Post. I don't have time to waste reading or responding to one liners where no reasoning is given for holding a particular view. An that case I feel such Posts are worthless. Ah yes.......back to that pedestal again :-)).

Good luck with your investment!!

ACKER, re: "Novykluk--you have a very tall pedestal." Sorry about that!! I can see what you mean! Actually I deplore conceit!

It was brought on though by what I felt was some short sighted and discourteous responses. Point taken though!!

YNWA91
I will reply with courtesy and respect to your question, "everyone seemed to ignore it, but do you think GR was disrespectful to loyal shareholders to release RNS after hours?"
First I confirm that I can understand why you (and perhaps others) would consider an after hours RNS which some consider to be negative, also to be disrespectful. That aspect though depends on what one interprets as to what the action outlined in the RNS, is designed to achieve and where one believes it fits in the the company's future planning.

So if one just sees the RNS very simplistically as "Just another share raise and just more dilution", one may well interpret it as being disrespectful. That in my view though is a very undiscerning and quite "uninformed" view, and I would suggest those who hold that view have not done enough research and do not understanding where that "action" fits in to the strategic picture and the company's future.
I interpret that plan to raise the ceiling as a precursor and an enabler for a series of corporate events which are to follow (I referred to some of those in my Post of 01:06 early this morning). Therefore if one takes that view as I do, then it was a necessary (if unwelcome) piece of news that (a) Had to be communicated by a deadline to give the statutory notice for the SGM, and (b) Was presumably done to "clear the decks" ahead of what I anticipate (my opinion.......not facts of course) will be a series of positive "material event/announcements" in the relatively near future.

So to me, no it wasn't at all disrespectful. To others with a more simplistic and sceptical view point, it will be.

FYI added to my PREM holding earlier at 0.094p!
GLTA genuine LTH's.
NK

steward1,
Thank you for your courtesy! That's not so common on here!
I wasn't offended by you highlighting I'd "just popped-up from "nowhere" and started Posting". In practical terms that's how it appeared! But I have explained...

I agree to some extent with each of the three points you've made;
* George isn't in control of when the EPO will be granted.
* Circum has supposed to have been happening for at least 4 years as I recall. And
* George's personal record of achievement is "in deficit" :-((!
* You also make a completely logical point (which I've been wrestling with all week end), if George knows or believes that the EPO and/or Circum is about to land, why is he wanting to raise the share cap to this level now?
I must acknowledge here my view(s) can only be based on opinion(s) and are NOT fact. But having chatted at length with others who have significant holdings, the following is what I/we conclude (you will dismiss or not depending on you own views and experiences with PREM and GR);
* The head room being requested whilst high, will not all be used in 2020, but over 2 years if needed.
* Having no head room (as was frequently the case in the past) is a major handicap to any company! Negotiating with Third parties (without the ability to raise) puts one in a very weak position. We don't want to go there again.
* If MNH is the highly prized acquisition it is currently considered to be, wouldn't we want to acquire it outright?
* If that is imminent, wouldn't a management and company re-structuring take place and wouldn't we then have a new CEO and Chairman? What would that do for the share price???
I could go on speculating 'cos there's lots more!
But as a result of the conclusions I've reached this week end in particular, I shall be buying tomorrow on any dip!

Good luck steward1 and all LTH's.
NK.

YNWA91
I will respond JUST ONCE to your two discourteous assertions, "your ridiculously simplified post", and "you have made wild assumptions in your post and try to pass them off as facts."

No where in my Post of 22:16 to which you were referring, did I claim any of what I wrote was fact! I would have hoped you're smart enough to have read my Post correctly, so you're embellishing what I wrote to try to make your point. Quite inaccurately though.......please read it again!

I made no claim in that Post that I was quoting fact! Quite the contrary..........I stated, "I suggest discerning shareholders have already "joined the dots up" and have deduced"!!! HAVE DEDUCED......I did not say that's fact. It's not. But I talk to a number of those discerning investors and I know what they've deduced!!! So if you're going to be discourteous and challenge people, it might be better to get your "facts" right on which you are basing your criticism and challenge.

steward1,
Re: "Novykluk - you're new around here, aren't you?"
Yes, in the sense that I abandoned this BB a couple of years ago because I got completely bored with all the trolling shxt I was reading on here! Looks sadly like not a lot has changed!!
I've never spent much time Posting on any of the BB's where I hold stocks, but if you care to look you'll see I've been a member since 2013.

YNWA91 and Greenspan,
I'm neither delusional or making wild guesses!
I can understand and respect why many past and present investors in PREM will be extremely sceptical about GR's performance and the many dilutional Placings he's made. That's understood.
But if one then concludes that every subsequent action PREM (GR) takes, will be ineffective and a further drain on resources, then sell up and move on.....simples! I've done that myself in the past.......twice. But every half competent investor has to do some research and learn and learn all they can. That's what I've tried to do!
I've talked to as many people as I can and have reached my own conclusion BASED ON FACTS THAT ARE IN THE PUBLIC DOMAIN, that PREM are at last on the cusp of "material change".
I recommend to all truly interested (non troll) investors, to look back and read (or re-read) the May 16th Post by Snowking timed at 19:09. That Post is truly a gem!
Whilst not as knowledgeable as Snowking, I can attest to what he's Posted. If you don't believe the content of that Post, you're missing a "recovery stock" of a life time IMHO!
He outlines the reality and explains the fantastic situation that PREM is about to be in. He mentions a whole range of facts. But just let me home-in on MNH;
Those who've sold out (or will do so tomorrow) might just live to regret it when the MNH numbers become widely known! Facts pointing to stellar performance there are;
* The weakness of the Namibian Zar vs the US$. MNH's costs are in Zar, but they sell in US$'s!!! Just contemplate the massive currency gain currently!!!
* Oil is one of their significant costs and is now down 50%!!!
* Managanese prices have doubled recently and a number of aged South African marginal manganese mines will never re-open after the lock-down!!! What do you think that will do to future supply?
MNH will be a "steal" if PREM can secure it!!!

Wild guesses and delusional...........not me gents!!! But I didn't see any facts in your two Posts :-))!!

GLTA genuine LTH's
NK

steward1
One has to agree with your point that George Roach has diluted many times in the past by adding to the number of shares in issue.
However in you simple statement you have either ignored the current facts or are unaware of them.
Knowledgeable and discerning shareholders are very well aware that George Roach KNOWS his latest proposal to raise the share cap to the level stated in Friday's RNS, will NOT be voted through by shareholders, UNLESS there is some material change in the company's situation by 4th June when the Special General Meeting will be held.
Bear in mind GR is virtually in daily contact with ZIM's Minister of Mines regarding the progress and timing for the award of the EPO, he also has close contacts within Circum too!
I suggest discerning shareholders have already "joined the dots up" and have deduced that if GR knows he won't succeed in raising the share cap as things stand, he must be confident there will be a "material change" before that SGM on June 4th!!!
I'm one of those who has "joined the dots up" and will be adding tomorrow should there be a dip!

GLTA genuine LTH's!
NK

Scarface72,
Re; "I have a suspicion that the market will not grasp the positive significance of the RNS", I completely agree!!
Despite bring a professional Mechanical engineer, I have no technical knowledge of O&G exploration. I'm unable therefore to make an intelligent interpretation of this RNS.
Whilst in "The Market" there are no doubt people with considerable O&G knowledge, I strongly agree with your perception and concern!
Whilst it's clear this is positive news, I for one can't interpret if this means our find is "Positive - Tiny" or "Positive Mega"!
Hoping for the latter of course!!
GLTALTH's