Member Info for oilmanmike

Pigs and Sheep get slaughtered.
When I have seen the youtube presentation by JA, I will be in a position
to comment further. My initial reaction to the RNS is that JA has farm in
partners lined up hence the reference to making use of the delay.
MM's having a field day here as the weak are selling.
As others (OB in fact) have pointed out June, in the scheme of things, is
not that far away given what has to happen first.
1) Farm out officially announced
2) Rig contract confirmed.
3) Rig Mobilisation.
4) New Reserves report (not sure what has changed)
On reflection this may be required for exact farm out
terms which would make this 1) not 4)!!

This is a solid hold at .45p to .50p with little downside
and 4 bag upside potential.

Rocket said I topped up yesterday. He made that up but
I did top up at a very cheeky price around an hour ago when
he was capitulating.

sorry to disappoint you Jim but not really interested in playing snide games.

thanks OB

Phil as you will appreciate it is a little difficult to know what has already been covered without attending but I have two main questions.
1) where are we re Cameroon farmout and drill schedule?
2) What is happening with Namibia?

Cheers OMM

thnx

I would like Jeremy to comment on the new age slide which shows Njonji as an Oil & Gas discovery not just Oil. Any comment?
Also when will the update be posted online for all shareholders to view?
Thanks holding 4.5m shares!

just wondering if Bigbear managed to get there?
I didn't

cannot be there myself regretfully!!
Would really appreciate a heads up after
if anyone is able to. Otherwise suppose
I will be scouring YouTube for the video
of the presentation.

Willowman hit the nail on the head.
No excitement today so some sell.
Not sure they some can even make £10
for a beer though!!

We are in the RNS twilight zone.
Next 18hrs is prime RNS time!!!
Lets see.!!

The results of a little buying are +25%
Imagine the carnage when the herd arrives
don't think you will be able to buy here below
1p once news breaks.

nm

next week.

that what used to positively glow in the dark with the aid of nothing but the human eye, now cannot even register the smallest of blips on a sophisticated detection system. Certainly deserves to be on the radar, maybe visible with high power telescope!!!
GLA next week could be the one!!

any Cameroon news that was dependent on a signature presumably would not have to be announced although under these circumstances a MOU RNS is issued.
We can speculate all w/e but as you say Jim we will have to wait and see.

Jim I really wish you would stop this but obviously I will have to respond!

"He can't make an announcement at the evening presentation, before an rns. The market has to be notified of any material news during open hours" Jim you forgot that an RNS can be issued 7.00am Wednesday!!!!!!!

"Announcing the evening presentation yesterday is quite normal and on the face of it suggests no news, just intentions, as things stand" Jim I think you will find that the RNS said it will be an investor update of which there is no point unless there
actually is news and as you pointed out yesterday evening News is overdue on 2 fronts.
"I don't have a clue what will be the out come, but I think there is a good chance of number 2 & 3" to quote you

Lastly what the I suppose something worthy may turn up over the weekend all about?? Trying in advance not to lose cred
when you are shown to be wide of the mark.

Jim as I said to SMeister over on advfn there is still Monday and Tuesday to take a position here. After all any profit could go into GBP if it is Cameroon (most likely imo)

Of course there is then the mega combination of Cameroon and Namibia news ahead of presentation.

My take on Asher is that he is a, straight talking, very capable business man. It`s not really his style to
arrange an investor update when he has no real new news in an attempt to prime the sp for financing.
He has ruled out equity finance due to the very low valuation and has stated asset based financing for
the Cameroon is the way forward.

Given the advances towards drilling the NJOM-3 appraisal well the company have made over the last
couple of months (license renewal and survey) the most likely update is that he has a MOU for the farm
out deal and all partners are in place awaiting the official survey results to sign on the line.
This does not preclude TRP raising a small amount of cash leading to a slightly greater retained interest
in the Thali field. Anything over 1p would result in no dilution of the Cameroon asset on a success case of
18m bbls at 4$ a bbl.

As I posted before what intrigues me is why the need to RNS that the presentation is in fact an Investor update.
The new news could easily be RNS'd on Monday or Tuesday. One reason could be that he wants to announce the
news himself another that he is waiting for some kind of verbal confirmation of even documentation early next week.
It will be very interesting indeed to see what happens.

The other point to note is the late addition of Elaine Reynolds who is a highly experience O&G professional now with Eddison Research.

I am wondering why he needs to RNS the presentation rather that RNS the latest presentation on Monday or Tuesday.
One reason is that if he does pull a rabbit out of the hat the market (MM mostly) cannot say there were not given a heads up.

firstly Neptune petroleum was PT's baby.
Secondly JA was chairman but only became
CEO after ww1a disaster. Hence PT in dog house.
Enough said!!

The way I see it is that ex boss Peter Taylor although a very successful Oil and Gas 'company builder' got wrong on the WW1a well. The target was water bearing, poor quality sandstone.
He will probably redeem himself when they drill a deeper well but as we all know that is of no help
at this moment. So out goes PT and in comes Asher. Asher very skillfully repositions the company
by successfully diversifying into SA and the Cameroon. Then he encounters the drop from $110+ to
$30 which proves to be one of the toughest periods in the E&P sector in living memory. Still he ploughs on, his resolve strengthened by his considerable business experience and acumen.
Then as the price drifted lower and the Cameroon project was advanced by reprocessing old seismic he sees an opportunity, participated in a placing at 0.7p for 14% of the Company.
Time passes and the stock trades sideways then the market gets wind of a second (most recent) placing and it drops from 0.7 to 0.35. Asher steps in and takes his stake to 27.3%.
IMO Asher would not have gone in a second time for £700,000 if he were not certain of the outcome.

OMM